Investigate an Issue or Event Since 1995 That Has Affected Tourism Demand in a Country or Region That You Have Studied
Book 1
Assessment 1
Investigate an issue or event since 1995 that has affected tourism demand in a country or region that you have studied.
Overview
In this assignment I will be researching the significant impact the recession had on the travel and tourism industry between 2008 and the present day. I will be looking into how domestic, inbound and outbound tourism was affected. I will mainly focus on the impact the recession had on the UK, but will need to also discuss the contributing factors Europe had in the recession.
How it all started
The recession, “a significant decline in the economic activity”, was the worst recession since the great depression of the 1930’s. It affected many sectors and the tourism industry was greatly affected. The recession hit in 2008 and millions were affected globally, although America and Europe were the biggest regions affected. Sir Richard Branson quoted “the crisis engulfing the travel industry was worse than the aftermath of 9/11”.
So how did it all start? In my research it appears that the economic crisis in 2008/9 had the domino affect on businesses. The recession started and banks, financial institutions and the housing markets were badly hit, with redundancies and working hours being cut, this immediately had an impact on the tourism industry. People were scared to spend money, unsure of what the future would hold for them. With almost one million unemployed in the UK in 2008, reaching an all time high, people were no longer booking holidays, and having days out. Businesses were no longer spending on travel for their employees and clients. This was when the travel and tourism industry then became affected by the recession. Holiday companies were struggling, it was a scary time for all business in the tourism sector, seeing many small independent travel agencies going into administration. One of the biggest shocks in 2008 to the travel industry was XL Leisure group, the UK’s third biggest tour operator going
Assessment 1
Investigate an issue or event since 1995 that has affected tourism demand in a country or region that you have studied.
Overview
In this assignment I will be researching the significant impact the recession had on the travel and tourism industry between 2008 and the present day. I will be looking into how domestic, inbound and outbound tourism was affected. I will mainly focus on the impact the recession had on the UK, but will need to also discuss the contributing factors Europe had in the recession.
How it all started
The recession, “a significant decline in the economic activity”, was the worst recession since the great depression of the 1930’s. It affected many sectors and the tourism industry was greatly affected. The recession hit in 2008 and millions were affected globally, although America and Europe were the biggest regions affected. Sir Richard Branson quoted “the crisis engulfing the travel industry was worse than the aftermath of 9/11”.
So how did it all start? In my research it appears that the economic crisis in 2008/9 had the domino affect on businesses. The recession started and banks, financial institutions and the housing markets were badly hit, with redundancies and working hours being cut, this immediately had an impact on the tourism industry. People were scared to spend money, unsure of what the future would hold for them. With almost one million unemployed in the UK in 2008, reaching an all time high, people were no longer booking holidays, and having days out. Businesses were no longer spending on travel for their employees and clients. This was when the travel and tourism industry then became affected by the recession. Holiday companies were struggling, it was a scary time for all business in the tourism sector, seeing many small independent travel agencies going into administration. One of the biggest shocks in 2008 to the travel industry was XL Leisure group, the UK’s third biggest tour operator going
Bibliography: Books BTEC Level 3 Book 1 BTEC Level 3 Book 1, by Gillian Dale Websites www.wikipedia.org www.caa.co.uk www.unwto.org