Internal and External Factors Affecting Uk as a...

Internal and external factors 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. Internal Strength of the pound Depending on how strong the UK pound is determines how well the country’s economy is; if the pound is strong this means the country is doing well and vice versa. However this also has an effect on the number of people that visit the UK, a strong pound actually deters overseas visitors due to them receiving fewer pounds when exchanging their own money as one UK pound is worth†¦show more content†¦Visit Britain estimated that the 7/7 London bombings in 2005 resulted in a 2% fall in overseas visitors causing a loss of  £300 million for the UK economy and also a total loss of  £150 million to the capital as 50% of overseas visitors travel to London. Book one 3rd edition – Unit 3 – page 117 – 24/11/10 External Economic recession A recession is a general slowdown in economic activity over a period of time which is longer than a few months. During recessions many factors are affected such as; employment, investment spending, household incomes, business profits, bankruptcies and the rise in unemployment rates. Governments usually respond to recessions by increasing money supplies, increasing government spending and decreasing taxes. In 2008 the UK went into a recession, this had a major effect on the value and volume of inbound and domestic tourism in the UK as visitor numbers fell during the year 2009 as a result of the recession. In 2007 the UK received 32.7 million visitors, this fell to 31.8 million in 2008 and fell further again to 29.8 million by 2009. 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