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Tourism Industry Assignment: UK Economy

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Added on  2020-06-04

Tourism Industry Assignment: UK Economy

   Added on 2020-06-04

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Tourism Industry Assignment: UK Economy_1
Table of ContentsINTRODUCTION...........................................................................................................................1Contribution of tourism of UK towards the economy ...............................................................1.CONCLUSION...............................................................................................................................5REFERENCES ...............................................................................................................................6
Tourism Industry Assignment: UK Economy_2
INTRODUCTIONIn the world UK stands at the 8th biggest tourist destination. In 2015 there were about36.115 million visitors (Kim, Holland and Han, 2013).By the foreign tourist about US$21.072billion are being spent. The fantastic range of tourist attractions are being offered by the UK.From tourism a good amount of GDP is being earned in the UK. In this report the contribution oftourism sectors in the UK towards the UK economy will be discussed.Contribution of tourism of UK towards the economy In most countries across the globe the travel and tourism is an important economicactivity. The internal spending on travel and tourism is being reflected by the direct contributionof travel and tourism to GDP. In the UK, the travel and tourism industry is nearly 5 times thesize of automotive manufacturing industry. By the tourism economy the three measures thatcontributes towards this industry in UK are direct industry, tourism industry and totalcontribution. By the visitor spending and tourism economy related government spending withconsistent with the UK TSA the contribution that is made is included in this. In UK GDP thedirect industry is 4.1 percent. To the UK economy the tourism economy has continued to delivera significant direct contribution. In GVA it currently delivers about $ 58.0 billion which accountsfor 4 percent of GDP in UK. Over 1.75 million jobs are been supported by the direct industry interms of employment. In the travel and tourism sectors the tourism economy includes the directindustry as well as private and government investment (Komppula, 2014.).The contribution of tourism economy is 9 percent in the UK GDP. Through theinteraction with other business in the supply chain there are significant indirect impact of thetourist economy. In the year 2013 the direct and indirect impact of the tourism economy wasequal to be around $127 billion. There was a rise in indirect impacts as in the tourism economythe activity and output create and support jobs and growth in the wider economy as sectors sellto buy from other visiting economy. Around 3.12 million jobs are been supported by this tourismeconomy. In the UK GDP The contribution of the tourism economy is about 11 percent.To a wider policy agenda such as economic and social inclusion , sustainable developmentimpacts the tourism economy contributes (Mowforth and Munt, 2015). 1
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