Hospitality generates revenue for local economies directly when tourists spend money in hotels, restaurants and entertainment venues. ... In addition, tourism can stimulate the building of infrastructure such as roads and public transportation. Also important economically are the jobs created by the industry
In accounting, unearned revenue are the revenues from products and/or services that are yet to be delivered to its customers or clients. Since the business haven't delivered the products or services yet, it is classified as liability as you still owe your customers/clients something.
To know more about liabilities, just continue on reading below.Liabilities
In accounting, liabilities are the resources that a company owes to another business or people.Two types of liabilities:Current liabilities - accountabilities that must be paid or dealt within a year or operating cycle of a business.Non-current liabilities - accountabilities that must be paid but not within a year or operating cycle of a business.Examples of current liabilities:Accounts PayableNotes PayableUnearned RevenuesExamples of non-current liabilities:Mortgage PayableBonds Payable