Contemporary Issues Project: London Eye Expansion Possibilities Report

This report provides a comprehensive analysis of the London Eye as a major tourist attraction in London. It begins with an overview of the attraction and its significance to the city's economy, followed by a literature review and methodology section that outlines the data collection methods employed. The core of the report is a detailed SWOT analysis, examining the London Eye's strengths (location, height, popularity), weaknesses (high prices, weather dependence), opportunities (digital promotion, in-cart dining), and threats (COVID-19). The findings and discussion section uses the SWOT analysis to assess the possibility of future expansion, concluding that there are indeed viable strategies for growth. The report recommends digital promotion and offers to increase tourist attraction and overall profitability. The conclusion summarizes the key findings, recommends expansion strategies, and acknowledges limitations, referencing secondary data from various sources.

CONTEMPORARY ISSUES
PROJECT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
Overview......................................................................................................................................1
Aim..............................................................................................................................................1
Report Structure...........................................................................................................................1
LITERATURE REVIEW AND METHODS..................................................................................1
Tourist attraction in London........................................................................................................1
Overview of London Eye a Tourist attraction.............................................................................2
Possibility of future expansion....................................................................................................2
Reason because of which SWOT analysis is a good tool for evaluating a Tourist attraction.....2
Data Collection method...............................................................................................................3
FINDINGS AND DISCUSSION....................................................................................................3
SWOT analysis of London Eye...................................................................................................3
Whether London Eye has the possibility for expansion or not....................................................5
CONCLUSION AND RECOMMENDATONS..............................................................................5
Summary and Recommendations................................................................................................5
Limitations and future of research...............................................................................................5
REREFENCES................................................................................................................................6

INTRODUCTION
Overview
Tourist attraction can be defined as a kind of place which is visited by tourist every year
and helps in increasing overall economy of a county. There are many tourist attractions present
in London that not only helps in attracting local but also helps in attracting large number of
international customers globally. One of the most famous tourist attractions presents in London
is ‘London Eye’. London Eye is one of the most famous Tourist attractions that helps in
attracting both local and international tourist which further helps in increasing at least 5 percent
of country’s economy (Geddes and et. al., 2018). This tourist attraction still has some scope of
future development for enhancing overall profitability and increasing number of visits of tourists.
For identifying strategies for future development SWOT analysis of London Eye as a tourist
attraction place will be done.
Aim
To evaluate London Eye as a tourist attraction I London for identification of possibility
for its expansion in the future.
Report Structure
Structure of the report has been explained below in a detailed manner;
Introduction: in this section aim of the report is presented and overview of key ideas will be
presented or identification of whether or not the tourist attraction has the possibility for
expansion.
Literature review and methodology: In this section review of literature has been provided for
checking whether SWOT analysis method is appropriate for evaluation of chosen tourist
attraction. Here method chosen for data collection is also explained.
Findings and discussion: In this section SWOT analysis of Chosen Tourist attraction is
explained for identifying whether this tourist attraction has a possibility of future expansion
Conclusion and recommendations: In this section overall summary of the report will be
presented with recommendations for future development.
LITERATURE REVIEW AND METHODS
Tourist attraction in London
According to Foroudi and et. al., (2018) There are various kinds of tourist places in
London that has contributed in making London one of the top most Tourist destination in the
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world. These tourist attraction helps in enhancing at least 5 to 10 percent in overall GDP of UK.
Every year millions of Tourists visit London but due to recent Covid-19 pandemic Tourism of
London has been impacted drastically. Some of the main Tourist attraction of London that are
famous globally are: London Eye and Big Ben. Other than this there are many other kinds of
tourist attractions like British museum etc.
Overview of London Eye a Tourist attraction
As per the view of Manhas, Manrai and Manrai, (2016) London Eye is one of the tallest
wheels in London located at the bank of river Thames. This wheel is one of its own kind in
Europe i.e. there is no other wheel as large as London Eye in Europe. This wheel is of
approximately 440 feet hight from ground and is about 50 feet in diameter. It is one of the
highest paid tourist attractions that provides an excellent view of London. People can see at least
25 miles of area from London Eye. Before Covid-19 pandemic every year millions of tourists
used to visit London Eye.
Possibility of future expansion
Adie, Falk and Savioli, (2020) says that for future expansion of London eye various kinds
of strategies have been developed and suggested. One of the expansion strategies that has been
developed till now is get all the information required by them about London eye. This web page
also provides an option through which people can make advance booking. After development of
web or digital page of London Eye overall profit percentage has also increased.
Reason because of which SWOT analysis is a good tool for evaluating a Tourist attraction
For evaluation of London Eye SWOT analysis has been chosen as a tool. It is one of the
most common and effective tools that can be used by evaluation of chosen tourist destination.
SWOT analysis of London Eye can help in identifying its main strengths that helps in attracting
tourist. It can further help in identifying its main limitations because of which it becomes
difficult to attract a greater number of tourist and profitability is impacted (Gürel and Tat, 2017).
SWOT analysis can help in identifying future opportunities can not only help in attracting more
number of tourist but can help in enhancement of overall profitability and lastly it can help in
identification of threats that can affect this tourist destination this evaluation can help in
identification or development of future strategy for bringing development within this chosen
tourist destination.
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Data Collection method
Data Collection is one of the most important part of a research study as it helps in
collection of all the relevant information that can be used to achieve pre-defined aim of the
research study. For this research secondary data collection method has been chosen. All the
useful secondary data has been collected from variety of online and offline sources like research
papers, articles, journals, government website and many more. For this study secondary data has
been chosen as it has helped in conducting SWOT analysis of chosen tourist destination.
FINDINGS AND DISCUSSION
SWOT analysis of London Eye
SWOT analysis can help in analysis of strength, weaknesses, opportunities and threats of
Chosen Tourist Destination i.e. of London Eye. SWOT analysis of London Eye will help in
collection of important and useful information can further help in answering whether future
expansion of London eye is possible or not.
Strengths: London Eye as a Tourist attraction has various strength.one of its main strengths is its
location. It is located at the bank of River Thames (Stylidis and Cherifi, 2018). Due to which it
has become centre of attraction for city over time. This strength has also made London Eye a
tourist place for all kinds of tourists like for families, friends etc. Another one of tis main
strength is its hight because of which tourist gets a clear view for about 25 miles is its hight. It is
on of the largest wheel present in Europe which is its main strength. Its hight its location, view it
provides helps London Eye is a greater number of tourists every year. It was one of the most
innovative idea that not only helps in attracting a greater number of tourist but due to this
innovative idea this wheel has become one of its own kind and has successfully developed its
name and place which works as an additional factor in development of this place as a tourist
destination (Lado-Sestayo and Fernández-Castro, 2019). Another one of the main strengths of
this place is its popularity because of which top events are organized at this place which further
helps in attraction of a greater number of places.
Weaknesses: Despite of these strengths, London eye has various kinds of weaknesses as well.
one of the main and most prominent weakness of this tourist destination because of which many
times tourist do not prefer visiting this place second time is its high fees or pricing. Not only
this, but things that are available for tourist near this destination are also costly. Due to this, both
local and international tourist do not prefer visiting London Eye another time. It is one of the
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main weakness of this Tourist destination. Another weakness of London Eye is its dependence
upon season, climate and weather. As it is a popular tourist destination a greater number of
tourists visit this place eery year but if it is cloudy or rainy or in bad weather condition there is
no sense of visiting this place because tourist or visitors will not get the view they want
(Chapman and Light, 2016). This place is mostly crowded because of its popularity and in
current pandemic situation of covid-19, it has become another one of its main weakness.
Opportunities: one of the main opportunities that can help in attracting a greater number of
tourists at this tourist destination is digital promotion. In order to increase tourist, visit at this
place for increased popularity of this place digital promotion can be developed in collaboration
with other tourist paces or in collaboration with sone famous events that take place at the bank of
Thames River. It can also be said that tourist scan be provided with a digital support and
opportunity so that they can book tickets of one more tourist place at a certain discount if they
book tickets of London Eye as well or they can book tickets of a popular event if they book
tickets of London Eye (Kozak and Kozak, eds., 2019). This kind of digital promotion is one of
the main opportunities that can help in increasing popularity of this place, attract a greater
number of tourist and will also help in future development of this place. This digital promotion
of London ye can be done at global level as most of the times international customers are
unaware of discounts or offers upon a certain place. When people from all over the world visit a
certain tourist destination then they prefer buying tickets in combination so that they can save
more money. This digital promotion of London ley is one of the greatest opportunities for
attracting a greater number of customers. Another opportunity that can help in attracting a
greater number of customers is provision of dinner or food facility inside cart of wheel. This is a
unique experience that can be provided to tourist.
Threats: One of the major threats that can impact attraction of tourist at London Eye is current
pandemic covid-19 situation. Due to this situation least number of people are preferring to visit
any kind of crowded tourist destination and as London Eye is a popular attraction it is mostly
crowded as a result for to this situation least number of people are visiting London eye which is
impacting overall business and profitability generated from it (Kozak and Kozak, eds., 2019).
This situation is one of the main threats that can impact London eye tourism.
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Whether London Eye has the possibility for expansion or not
From the above analysis it has been identified that yes, there is possibility of future
expansion of London Eye. There are various kinds of strategies with the help of which future
development of London Eye can be done. This is because London Eye is a famous tourist place
and small number of additional offerings to tourist can not only helps in attracting more number
of tourist but can also help in increasing profitability.
CONCLUSION AND RECOMMENDATONS
Summary and Recommendations
From the above research study, it has been summarized that London Eye is one of the
most famous tourist places presents in London which is popular globally. London eye is one of
the largest ferry wheels present in London that helps in attracting a greater number of tourists. It
has also been analysed that There are various kinds of weaknesses and threats that impact overall
profitability generated though visit of number of tourists. It has been analysed that there are
various possible ways though which expansion of London eye can be done. In order to develop
strategies though which expansion of London eye can be done by focusing upon opportunities,
limitations and threats of London Eye. Some of the recommended ways though which expansion
of London Eye can be done are: Different kinds of offers can be provided to tourist visiting
London Eye like free snacks, dinner, offers upon booking tickets on discounted rates, book
nearby hotels at lower rate. Digital promotion of London eye at global level should be done so
that people all around the world can get to know about this tourist destination.
Limitations and future of research
This research as some limitations as well that can help in development of scope for future
research. One of the main limitations of this research was; or this research only secondary data
was used. Usage of secondary data limited overall scope of the research. This can be used as a
scope for future research where primary data can be used for more development of strategies for
future expansion of London Eye.
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REREFENCES
Books and journals
Adie, B.A., Falk, M. and Savioli, M., 2020. Overtourism as a perceived threat to cultural heritage
in Europe. Current Issues in Tourism. 23(14). pp.1737-1741.
Chapman, A. and Light, D., 2016. Exploring the tourist destination as a mosaic: The alternative
lifecycles of the seaside amusement arcade sector in Britain. Tourism Management. 52.
pp.254-263.
Foroudi, P., and et. al., 2018. Promising the dream: Changing destination image of London
through the effect of website place. Journal of Business Research. 83. pp.97-110.
Geddes, V., and et. al., 2018. LONDON EYE. The Hardy Society Journal. 14(2). pp.115-121.
Gürel, E. and Tat, M., 2017. SWOT analysis: a theoretical review. Journal of International
Social Research.s 10(51).
Kozak, N. and Kozak, M. eds., 2019. Tourist destination management: Instruments, products,
and case studies. Springer.
Lado-Sestayo, R. and Fernández-Castro, Á.S., 2019. The impact of tourist destination on hotel
efficiency: A data envelopment analysis approach. European Journal of Operational
Research. 272(2). pp.674-686.
Manhas, P.S., Manrai, L.A. and Manrai, A.K., 2016. Role of tourist destination development in
building its brand image: A conceptual model. Journal of Economics, Finance and
Administrative Science. 21(40). pp.25-29.
Stylidis, D. and Cherifi, B., 2018. Characteristics of destination image: Visitors and non-visitors’
images of London. Tourism Review.
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