P4 Explain how internal and external factors affect UK inbound and domestic tourism

Another issue is export. What proportion of the nation's output that is potentially exportable is in fact exported? One way to address this more narrow question is to begin with the domestic output of the goods-producing sectors of the economy, as measured by the value of final exports of goods, plus change in goods inventories,

Due to the British and Germans being the most frequent travellers, most airlines set up their base in the United Kingdom. They also have more purchasing power because of the strength of their currency. – I 'm confused about this currency stuff, as I don 't find it mentioned in the case study… Please explain. Anything else to add here?

The number of trips taken by Britons overseas has declined by 12.6 million, from 69.4 million to 56.8 million between 2007 and 2011, according to the research by Travelodge. This means that 5.9 million holidays and trips have come out of the market altogether when the number of domestic holidays and trips are factored in. This is shy of the government’s stated ambition for domestic trips to replace the number of missing overseas trips, the report says. However, the analysis shows that ‘staycation’ breaks were up by 5.6% as the recession proved that holidays are an essential rather than a luxury. UK city breaks account for 23% of domestic tourism but seaside towns are in decline by 5%. Total tourism revenue was up 12.6% to £40 billion between 2007-2011 against the general economy up 8%. Employment numbers in tourism have bucked the wider trend, thanks to strong growth in 2011 when 120,000 new jobs were created. The UK’s appeal as a tourist destination endured during the double dip, with overall visitor numbers up by 3.1% to 157.4 million, the report shows. Staycations form the backbone of the tourism economy, with domestic trips and holidays increasing by 5.6% to 126.6 million.

To begin with this could be classed as a positivity as the tourism industry sector is still growing despite the different impact, however this could also be seen as a negative according to the WTTC findings because it has meant that within the Brexit it includes that immigrants might have to go back to their own countries. This is showing as since there are mostly foreigners working in the sector like working in hotels, there is an opening for more vacancies, this could mean less people are able to effectively give good tourist services.

Many things will affect people’s decision to travel, the destinations they choose and for how long they stay. Different destinations are affected by different factors, here we will explore these factors and the destinations they effect.

As one determinant of GDP is exports, it is relevant to discuss the matter with relevance to the UK and Germany. As mention in the literature review, during 1955-1960 exports in Germany

Gillian Dale (2010). Travel and Tourism level 3 Book 1. Oxford: Pearson Education Limited. 122-124.

1. Outline very briefly the main factors that led to the bubble economy of the 1980s and

Those factors include: climate change, environmental damage, hostile neighbors, friendly trade partners,

Considering this formula suppose Scotland was an independent economy and a member of the EU the increase in trade of goods such as oil

The graph shows the latest sterling exchange rate against most leading currencies which is the Brazilian Rate.

Within travel and tourism inbound and domestic tourism are frequently changing, there are many internal and external factors which have a major impact and contribute to these changes. In this assignment I am going to analyse 3 internal and 3 external factors which affect the travel and tourism industry.

The first of the three external factors I have chosen is the credit crunch. The credit crunch is a decline in the availability of loans or a tightening of conditions required to take out a loan from banks. It also means that there are reductions on the interest rates set up by banks for saving. Credit crunches are normally caused by a period of careless and risky lending to people who don’t necessarily fit the exact requirements, these careless decisions lead to no return and leave the banks losing a lot of credit.

So after the result of the referendum had been out, the first affect is the pound had fallen sharply, according to (Taub,A. 2016.) the pound is at its lowest valuation in seven years. Due to the (Hunt,A. & Wheeler,B. 2016) uncertainty rushing around, a British exit will likely result in a massive rebalancing of currencies. Investors will (and have already begun to) dive out of the British pound and into cash that's perceived as safe — the Swiss franc, the Japanese yen, the U.S. dollar. The changing direction of the investor and the fallen of the pound has spiked the value of Yen which has made Japan’s export being less competitive. Even the fallen of the pound can help the export business and attract more tourism to the country ,which due to the (bbc no name) The travel analytics firm ForwardKeys says flight bookings to the UK rose 7.1% after the vote. The import business still have to pay more for the fuel and material due to the costs which have increased 7.6%. Moreover, since 51% of goods and 45% of services of the British’s export are taken over by the EU. Losing access to the EU single market would mean less trade and less productivity growth which could (Chu,B.2016.)make

I am writing a report explaining the importance of UK visitor attractions to tourism. In my report I will be including statistics and data to support my explanation.