Discuss the effect of tourism on the United Kingdoms economy Essay

Discuss the effect of tourism on the United Kingdoms economy - Essay Example Support from the community is a very important element in tourism this it is an activity that entirely affects the community. Costs and benefits of tourism reach almost everyone in one way or another. Analysis of economic impact offers concrete estimates of the economic interdependencies and a better insight on the role and importance of tourism in a country’s economic development Tourism activities also entail economic costs, which involve government spending on infrastructure so as to improve services to tourists, direct costs incurred by tourism businesses, together with the cost of congestion and other related costs barred by individuals in the society. Even though the European and the UK economy have not been performing as compared to bother parts of the world since the end of global financial recession, the impact of tourism to the economy has relatively risen in the recent times. From the first instance, the question of the importance and effects of tourism to the economy seems as if it is straightforward to answer. Several researches have been carried out as GB Tourism survey, GB Day visit survey and the International Passenger survey to ascertain the impacts of tourism on a country’s economy. According to the World Travel and Tourism Council (WTTC), there has been a growth of economic importance of tourism to UK economy since 2012. Tourism industry comprises of 9% of the GDP and generates millions of job opportunities in the country. The industry performed better than other notable industries like retail, financial services and manufacturing. With such ability to create employment opportunities and resilience in demand, the significance of tourism as a tool for job creation and economic development is very clear since it contributed over 12% of all the jobs that were created in 2012. Reduction in punitive levels of taxes and an introduction of less restrictive visa regimes has also boosted the industry, therefore, contributing to