Instructions:In this assignment, it is about PESTEL dimensions to focus on developing a PESTEL C&A (i.e., commentary and analysis). For the exercise, find a news item to comment on and speculate about its impact on thehospitality industry and its subsets.The dimension you will be working on is E which stands for economics!Subheadings for paper: SummaryLinks to economicsAnalysisNote:The news items should be reputable, referring to an article from a print or online version of a respected newspaper, journal, trade publication, or other publication that has gone through an editorial process.• Provide a citation or link to the news item (article, video, podcast, etc.) and offer an overview or summary as necessary;• Indicate how the news item links or relates to the E dimension (economics). In some circumstances, this may be more obvious than others, but indicating the specific ways in which the event links to the dimension explicitly is required;• Answer the ‘so what’? Answering the so what requires thinking about the news item in a variety of ways; this results in use of critical analysis.• Examine relationships between and overlaps across dimensions (as applicable).Format considerations:• The commentary and analysis will be 1 page in length, and is single-spaced, 1 inch margins, 12 point font in a word document.• Appropriate use of point form and numbered lists is acceptable, you are encouraged to use sub-headings in yourreport to guide the reader.• You are encouraged to keep the paper professional – written as though to the management of the company being considered in the case.