Travel and Tourism: Government, Economic Policy, and Success

This report examines the influence of government bodies and economic policies on the travel and tourism sector. It explores the roles of the European Union, regional tourist boards, and the World Tourism Organization, highlighting their impact on the sector's growth and development. The report also analyzes how local and national economic policies, such as changes in tax rates and currency exchange rates, affect the success of travel and tourism businesses, particularly in the UK. It emphasizes the importance of managing exchange rates and trade policies to attract international visitors and ensure the sector's sustainability. The report concludes by emphasizing the importance of economic factors and government policies and their impact on the travel and tourism sector.

Travel and Tourism Sector

2.1 Function of government, government-
sponsored bodies and international agencies on
the travel and tourism
As per detailed study, there are different government, government-
sponsored bodies as well as different international agencies existing in
the UK marketplace.
Classification of agencies can be as:
 European Union
 Regional tourist board
 World tourism organization

European Union
 European Union is
considered as one of
essential authority that
plays key role in travel and
tourism sector.
 It allows travel and tourism
businesses to gain better
competitive advantage so
that growth opportunities
can be advanced.

Regional tourist boards
 In addition to this, regional tourist boards is official government
sponsored organisation that have operations in UK.
 It has great impact on the economic values and plays key role in
attracting more travellers.
 It is also accountable to have effective sharing of information so
that better awareness can be created among travellers.
 Suggestion and advice is also being provided for effective selection
of hospitality services.

World Tourism Organisation
 World tourism organisation is an international agency that mainly
focuses on promotion of tourism activities in all over the world.
 Authority is also accountable to have effective promotion of services
so that goals and objectives can be accomplished in desired way.
 Functioning of international organisation in travel and tourism sector
allows businesses to meet sustainable development opportunities and
lead business firm to impressive level of success.
 Better tourism policies can be designed as per international standards
so that negative impact on business can be cut down.

2.2 Local and national economic policy
influence the success of the travel and tourism
sector
 It has been noticed that there are number of economic policies
which are framed by management of UK government.
 Local and national level results can influence the success of travel
and tourism sector.
 During the time of recession the GDP of UK was facing great crises
that has also influenced the perception of travellers.
 It is one of key reason that number of visitors has been decreased in
the nation.

Contd...
 UK government has also focused on diverse changes so that UK
government can have sustainable development.
 For example, change in tax rates has increased he exchanges
currency rate that also impacts the travellers' perception in negative
manner.
 It is signifiant for every business firm to have effective control over
exchange rates so that more international visitors can be attracted
towards business.

Contd...
 One of the primary element that influences the success of travel and
tourism include exchange rate of currency.
 Lower exchange rate of currency will ensure in increasing the
number of tourist within the UK economy. It will enhance the level
of morale among international travellers to spend more of income
on travel and tourism sector.
 Application of trade policy is also essential because it impacts the
tariffs of diverse services. Airline service pricing can also be
influenced for better success of the travel and tourism sector.

References
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Dickinson, J. E., and Lumsdon, L., 2010. Slow travel and tourism.
Earthscan.
Evans, N., Stonehouse, G., and Campbell, D., 2012. Strategic
management for travel and tourism. Taylor & Francis.
Felfernig, A. and et. al., 2007. A short survey of recommendation
technologies in travel and tourism. OEGAI Journal. 25(7). pp. 17-22.

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