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PEST Analysis Assignment - Tower of London

Added on - 23 Nov 2020

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PEST Analysis
Table of ContentsPEST Analysis.................................................................................................................................1INTRODUCTION..........................................................................................................................1MAIN BODY...................................................................................................................................1CONCLUSION................................................................................................................................5REFERENCES...............................................................................................................................7Books and Journals.....................................................................................................................7
INTRODUCTIONThis report is about Tower of London which is world famous monument and one of themost tourist attraction located on the banks of Thames river. This is one of the importantlandmarks in England and also played a crucial role in shaping the history of the country. Sinceits inception, it was used as an armoury, treasury, menagerie, the home of Royal Mint, publicrecord office, the palace of Crown Jewels of England, and prisons. But in present time UNESCOopened it as a tourist place which made an impact on economy. The report underpins thepolitical, economical, social and technological aspects along with key challenges, risks andlimitations. These all are the factors that impacts on the organization(Gupta, 2013).MAIN BODYThe Tower of London is not an official name of it,, its actually named as Her Majesty'sRoyal Palace and Fortress of the Tower of London which is a historic castle in the centralLondon. Although there was a fortress at this location, the present tower was built by theWilliam in 1066 and after that the adjacent premises were expanded several times with indefinitereasons . It has been served as the royal residency of Her Highness and King. Though it haswitnessed history and that is why it has become renowned name for tourism and therefore, it hasa powerful impact on the country. So, there are few factors which defines the affect on thetourism industry after including the palace in travel and tourism industry.PEST Analysis –PEST analysis refers to the external factors which impact on the organisation'sbusiness, that can have an affect in anyway cause there are such elements that bear the changeson the business(Ho, 2014).Political factors –Political factors are those aspects which derived by the parliament of thecountry, cause there are several organisational industries working in a country. Governmentdefines some laws and the entire population and industries are abide to follow the rules. Politicalfactors are those which are governed through establishing laws, policies regarding the touristdestination Tower of London. The UK government established a some laws in one of that isBREXIT, in which some of the population voted to stay with European countries and some ofthem is voted to stay with UK government. After the Brexit there is a huge impact on tourismindustry of the UK cause most of the people booked there holiday packages to near there hometown. That impacted on the travel industry with a huge ratio. This reduced expanses on for thecountry dwellers and thus, they prefer to spend there their holidays in the country. Thus, it willalso impact on the earning of the Tower of London cause anyone who stays even in the rural areaand urban area can easily visit to the tower and can take a trail to witness the royal legacy.1
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