Tourism's Impact on UK Economy

The report concludes that tourism plays a vital role in the overall economy of the UK, contributing to revenue generation, job creation, and attracting foreign investment. Different types of tourism, such as inbound, outbound, and domestic tourism, are discussed. The document also highlights potential opportunities for the UK post-Brexit, including improving economic conditions through tourism. Various references from books and journals are provided.

Discuss how tourism
contributes towards UK
economy

Table of Contents
INTRODUCTION..............................................................................................................1
TASK................................................................................................................................1
CONCLUSION................................................................................................................. 4
REFERENCES.................................................................................................................5
........................................................................................................................................ 5

INTRODUCTION
As per recent time, tourism plays a significant role in the development of the
economic growth. Number of people invest their income in tourism industry to visit one
place to another with different purpose like business, enjoyment, exploring the various
places and many more. Along with this, it can help in making strong country economy
and infrastructure by contribute in increasing job opportunities (Clifton, 2014). The main
benefits of tourism on the economy are creation of income and generation of jobs. In
this context, UK is the world's 6th biggest tourist destination where number of visitors are
visit every year. This easy is based on how tourism contributes towards UK economy.
TASK
In today's modern era people are very much concern about covering new places
for their own purpose some are going for education, business, travel etc. Thus tourism
is considered to be the most developing industry which has a huge influence on the
economy of a country. It also develop day by day which help in creating the employment
opportunities for the local people. One of the main advantage of tourism is to creation of
the income through which people can easily improve their living standard. In context of
this, UK is one of the most developing country and also consider the world's 6th biggest
tourist destination in which number of tourist are visit every year. This directly contribute
in generating income and also create job opportunities for local people. In addition of
this, UK offers best range of tourist attractions to the visitors and the result is earns a
good amount of GDP from the tourism. As, this country is sixth most visited country in
over the world and also received $30billion of international tourist wealth in 2009. Apart
from this, overall tourism worth was £115.4 billion including domestic tourism. In 2009,
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approx 2.645 million people in UK earn money from tourism which increase their
income level (Introduction to tourism, 2016). This is the reason that individual can easily
improved their living standard from previous time. Since 2010, tourism sector has been
the one of the fastest developing and growing sector in the UK in terms of creating job
and employment.
Apart from this, the travel sector is expected to grow at annual rate of 3.8%
through to 2025 which is faster than the overall growth of UK economy. It also much
faster than the other sectors like manufacturing sector, retail sector and construction
sector as well. The tourism industry worth will over £257 billion by 2025 in Britain. It
comes just under the 10% of UK GDP. Furthermore, it help in creating approx 3.8
million jobs in the UK which consider around 11% of the UK number. In addition of this,
there are some type of visitors in UK such as inbound and outbound, domestic tourism
in the UK (Britain's visitor economy facts, 2015). In 2017, UK had the one of the highest
number of inbound ad outbound visitors. Apart from this, the visitors numbers can be
understood by following points that directly contribute in increase the revenue of the
economy and also make wealth.
In 2017, there were approx 39.2 million inbound visitors are visit in the UK which
is approximately 4% more than in 2106. Wherein, London was also a the most popular
and famous destination in the UK which attract around 51% of all the visitors. On the
other side, in 2017 approx 72.8 million outbound tourist visit from the UK and also
increase 3% from 2016. In this Spain was the famous destination which attract around
22% UK tourist.
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It is also evaluated that tourism sector directly contribute in the GDP of the UK
economy as compare to another sector. Along with this, It will also grow by approx 4.1%
from over the upcoming ten years. In 2011, tourist exports around £25 billion which was
considered in 13.2% of overall service exports including good and services. It directly
support in creating various job opportunities within the UK which make overall condition
of the nation strong (Jamal and Camargo, 2014).
Apart from this there are different type of tourism in UK which positively impact
on the overall economy of the nation and at the same time also make the strong
condition of the country.
Inbound tourism are those visitors who are from outside of the nation of
residence. In UK, approx 39.2 million visitors are visit UK in 2017 and also spent their
income of £24.5 billion. It represent in increasing 4% in the total volume and also
enhance 9% in value as compared with year of 2016. Mainly, inbound tourism will
regularly to be the fastest growing and developing tourism sector with spend by the
international visitors to grow by over 6% in a year as compared with domestic spending
by UK residents. In addition of this, inbound tourism create various job which may
enhance the overall growth of the UK country. As UK is famous country in tourism
sector and also includes various destinations that attract large number of inbound
tourism. This is the reason that tourist spend their money in hotels, dining, attractive
places, souvenirs and another comforts. All these are positively impact on the overall
country by increase job opportunities for local people (Michopoulou and et.al., 2015).
Furthermore, in UK there are some attractive destination of inbound visits such as
England, Scotland, Wales and Northern Ireland. These are the attractive place where
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visitors are visit as per their own purpose as it also increase the revenue of the nation.
One of the main benefit of inbound tourism is to generate financial health and at the
same time also improve the destination image of the UK. Along with this, it also may
improve the mutual understanding towards the cultural fusion and resources as well.
Outbound tourism consider the activities of resident tourist visit outside of their
country of residence. This type of tourism also help in generating some money in the
UK of origin in which outbound visitors are buy various things such as plane tickets,
travel insurance from their home country (Mihalic, 2016). Along with this, it also
generate income through customs levied at gateways such as border posts, airports
and many ore that has positive impact on the economic growth of UK. In this context
there are some outbound visits from the UK by the country of destination such as Spain,
France, Italy, Irish Republic, Germany and many more. All these are destination
wherein outbound tourism visit and also may enhance the foreign exchange which may
improve the financial wealth of the nation.
If UK has more inbound tourism that outbound tourism that it has a travel trade
surplus. Which directly increase the wealth are creating of job. It directly contribute in
making economic condition of the nation strong and positive as well.
Domestic tourism refer to the activities of tourist within their nations of residence
and outside of their hone as well. In UK, approx 120.7 million made in 2017 which is
down around 2% as compare to made in 2016. However, the number of outbound visits
by domestic residents and the inbound visits by the foreign residents. In recent year
both are risen. Domestic tourism in Great Britain broken down by some reason for trip
such as holiday, business and various purpose. In 2017, domestic tourists spent approx
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£23.7 billion and on the other side, Foreign tourist spent around £24.5 billion. It
positively impact on the economic condition by creating various job opportunities to the
local people in which they easily improve their living standard (Stylidis, 2016).
After Brexit, there are some potential opportunities for UK in order to improve
their economic condition are as follows:
UK is famous and popular country which attracts number of tourist over there
which directly impact on the generating the revenue within the country and also at the
same time also invite foreign investment and trade (Sun and Pratt, 2014).
Creation of employment is also a opportunity for the UK in which tourism support
in determining the job opportunities for local people. By this, individuals can easily
improve their living standard and also make them able to enhance their income level.
CONCLUSION
From the above mentioned report, it has been concluded that tourism play vital
role in overall economy in which number of people are visit various places with their
personal reason like for business, holiday and many more. It directly contribute in
making economic condition strong by creating various job opportunities to the people
wherein they easily enhance their living standard. In addition of this, different type of
tourism such as inbound, outbound and domestic tourism is also plays significant role in
developing the economic condition of the UK.
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REFERENCES
Books and Journals
Clifton, N., 2014. Towards a holistic understanding of county of origin effects? Branding
of the region, branding from the region. Journal of Destination Marketing &
Management. 3(2). pp.122-132.
Jamal, T. and Camargo, B. A., 2014. Sustainable tourism, justice and an ethic of care:
Toward the just destination. Journal of Sustainable Tourism. 22(1). pp.11-30.
Michopoulou, E. and et.al., 2015. Accessible tourism futures: the world we dream to live
in and the opportunities we hope to have. Journal of Tourism Futures. 1(3).
pp.179-188.
Mihalic, T., 2016. Sustainable-responsible tourism discourse–Towards
‘responsustable’tourism. Journal of Cleaner Production. 111. pp.461-470.
Stylidis, D., 2016. The role of place image dimensions in residents' support for tourism
development. International Journal of Tourism Research. 18(2). pp.129-139.
Sun, Y. Y. and Pratt, S., 2014. The economic, carbon emission, and water impacts of
Chinese visitors to Taiwan: Eco-efficiency and impact evaluation. Journal of
Travel Research. 53(6). pp.733-746.
Veal, A. J., 2017. Research methods for leisure and tourism. Pearson UK.
Weaver, D. B., 2014. Asymmetrical dialectics of sustainable tourism: Toward
enlightened mass tourism. Journal of Travel Research. 53(2). pp.131-140.
Online
Britain's visitor economy facts. 2015. [Online]. Available
through:<https://www.visitbritain.org/visitor-economy-facts>.
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Introduction to tourism. 2016. [Online]. Available
through:<https://www.visitbritain.org/introduction-tourism>.
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