Challenges and Recommendations for Developing Visitor's Economy in London

CASE
STUDY

Table of Contents
INTRODUCTION....................................................................................................................3
TASK.........................................................................................................................................3
Visitor’s economy..................................................................................................................3
London and its development..................................................................................................3
Challenges faced in development of visitor’s economy in London.......................................5
Recommendations to overcome challenges...........................................................................7
CONCLUSION.........................................................................................................................9
REFERENCES.......................................................................................................................10

INTRODUCTION
Visitor’s economy is the concept which refers to economic activities which involves
events and tourism. It is also known as direct, indirect and induced economic activity which
is an outcome of visitor’s interactions with a destination which does not belongs to their usual
environment. The term “Visitor’s economy” is used to define the economic benefits of visitor
activity for the tourism industry and for economy as whole (Alford, P. and Page, S. J., 2015).
Based on other perspective, visitor’s economy is the term which is concerned with whole
environment within which tourists and other visitors act. As while visiting a place, visitors
engage in many activities some of which can be economic and include various interactions
with communities and environment. Visitor’s economy is the powerhouse of local growth.
As tourism is restricted to economic value which offers goods and services offered to
visitors and this can create indirect or induced impact on the tourism activity which is
performed within the whole economy. The purpose of this report is to analyze the practices
which are followed within the visitor’s economy of London. The project will discuss the
challenges faced in development of the economy of London. Lastly, the report will highlight
some recommendations which can be helpful in minimizing the impact of such challenges
and strategies to overcome the challenges which are faced.
TASK
Visitor’s economy
Tourism economy offers a foundation analysis of importance of visitor’s economy.
Tourism holds significant economic importance which supports in strengthening the core of
hospitality and transportation services. Tourism economic provides solution to destination
through which the economic profile of tourism as economic engine can be strengthened.
Tourism is the concept which highlights multiple effect of tourism in local economy. Visitor
economy is the concept is the concept which focuses on the economic activity and defines the
economic benefit and is directly related to tourism (Amore, A. and Hall, C. M., 2017).
Visitor’s economy is helpful in understanding the economic value of visitors for the
destination.