How Tourism Contributes Towards the UK Economy Assignment

Added on - 04 Oct 2020

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How tourism contributes towards the UK economy
Table of ContentsINTRODUCTION...........................................................................................................................................3Main Body....................................................................................................................................................3CONCLUSION..............................................................................................................................................5
INTRODUCTIONTourism is considered to be as the important sector in united Kingdom which hascontributed a lot towards economic development of nation and generation of employment forpeople. In present era, spending holiday and traveling for educational or business purpose hasbecome the common trend. Social factor has supported industry in achieving success andfostering growth. Tourism sectorIt stimulates trade, income and entrepreneurship specifically insmall business sectors. Tourism sector also contributes to the regional development and assist inpromoting the destination. It also helps in generating the cultural awareness and plays significantrole in attracting visitors. Tourism generates foreign exchange which can be utilized for bringingimprovement in the nation. It also provides government to earn income by collecting taxes.The purpose of the report is to identify the way tourism contributes to the economicdevelopment of United Kingdom.Main BodyThe hospitality industry includes enterprises that provide accommodation, meals anddrinks in venues outside of the home. These services are provided to both UK residents andoverseas visitors. Hospitality sector covers the provisions of accommodation, food, drinks whichare provided by travel companies to visitors. Tourism is recognized as the important marketsector in United Kingdom which is contributing towards economic growth of a country. Tourismindustry in UK is taking high initiative for promoting the destination and influencing visitors tovisit particular destination. Tour and travel companies are developing as well as introducing theattractive tour packages for attracting traveler to make choice to visit particular destination.Tourism is regarded as the sixth largest industry in the United Kingdom bringing approx. £104bincome every year. The main sectors of the tourism industry in United Kingdom are hospitality,attractions, events, visitor transport, education and tourism services. Tourism industry alsocontributes to the social development of nation. Many of the countries are trying to compete withtourism sector in United Kingdom. Government in United Kingdom is also supporting tourismindustry in fostering growth and attracting the visitors. Legal authority has providing funds totourism industry which is them utilized by tour and Travel Company for development orimprovement of destination (CarverandByrd,2008)The tourism sector has taken permissionfrom the legal authority in the nation for opening of casino, for attracting the visitors andprovides them entertainment facilities. Travel and Tourism Company in United Kingdom hasreduced the prices of products as well as services which has allowed firm to attract wide numberof traveler. Low pricing strategy has been adopted by tourist to target foreign tourist especiallythose who are interested in traveling with low budget. The tourism sectors in United kingdomoffers wide range of tourist attractions and in return earn high amount of income which iscontributes towards the economic as well as social development of nation. The travel and tourcompanies in United Kingdom also provide wide variety as well as range of services to visitors
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