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What is the impact of the economic recession on the service industry?
Economic recession refers to the long-term economic downturn of a country or region, which is manifested in the decline of gross domestic product, the increase of unemployment rate and the bankruptcy of enterprises. Economic recession will have different effects on all walks of life, but generally speaking, the service industry is often the first industry to be hit in the economic recession.

Service industry is an important part of economic development, which includes catering, tourism, entertainment, retail, finance and medical care. During the economic recession, due to the decrease of people's income, people will reduce and cut consumption, and the demand for service industry will drop, which will lead to the reduction of jobs in this industry and the bankruptcy of enterprises, which will have a negative impact on the whole economy.

Specifically, the following are the first challenges faced by some service-related industries during the economic recession:

1. Catering industry: The economic recession will affect people's eating habits and lifestyles. Due to the decrease in income, people may no longer eat out often and choose to make food at home. Therefore, the catering industry is usually one of the first service industries to be hit.

2. Tourism: Tourism is one of the most vulnerable industries to changes in external economic activities. As the economy enters the trough, people will reduce and cut tourism expenditure, and the amount of tourism consumption will drop sharply, which has caused a huge impact on tourism.

3. Retail: The decline of people's purchasing power is a huge blow to a large number of shopping malls and department stores, and it is also an economic problem that cannot be ignored. During the economic recession, people will reduce and cut back on unnecessary consumption, resulting in a decline in retail income.

4. Entertainment industry: Entertainment industry includes film, music, performance, sports and catering industries. During the recession, the consumption of these industries may drop sharply, because people will reduce and cut back on entertainment expenses.

In short, the economic recession will affect all walks of life, but the service industry is often one of the first industries to be affected. In the period of economic recession, the service industry needs to find new business models to cope with the pressure, strive to find new opportunities, rearrange and adjust business strategies, so as to realize self-transformation and rebirth.