Effect of Tourism on London’s Economy Business & Marketing Essay (Essay Sample)

Effect of Tourism on London’s Economy
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Abstract
The central purpose of this essay is to discuss the effect of tourism on the economy of London. More than 18.8 million overnight visitors flock to the city every year. The main activities that attract visitors include sports, firework displays, national celebrations, cultural and arts festivals and international events. Tourism provides many job opportunities for the locals both in this and other sectors of the economy that are connected to the former such as agriculture. Tourism and other related spheres provide at least 226,000 jobs, totaling more than 5% of the employment in the city. Businesses also thrive in the presence of tourists because they are direct customers, who bring huge foreign revenues with them. Other than direct tourism businesses, such sectors of the economy as agriculture register huge benefits owing to their valuable products. London has many business entities partly due to the influx of many visitors who enhance their growth and development. Additionally, the tourism sector is a large contributor to the GDP not only for the city but also for England and the UK. This revenue supports job and impacts other sectors of the economy.
Keywords: London, effect of tourism