Why is travel and tourism important to England's economy?

Answer 1

Travel and tourism is important because it earns money which the United Kingdom Treasury badly needs, with the U.K's balance of payment deficit currently being around £2 billion per quarter on trade during the current world recession.

But statistics show that tourism in Great Britain (i.e. England, Scotland and Wales) attracts about 32 million overseas visitors on average every year and that is a major part of the U.K's economy. The visitors from all over the world, while enjoying their time in Great Britain and changing their Dollars, Euros, Japanese Yen or other strong World Currencies into Pounds Sterling thereby generate about 19 billion per year in export earnings for the U.K. economy!

The tourists include people coming to the U.K. on holidays, or on business trips or students or visiting friends and family is not seasonal but goes on throughout every year, Because places people want to visit apart from London are all around the island of Great Britain, their travelling and spending produces a circulation of over £69 billion all over Great Britain and supports nearly 2.7 million jobs all over the U.K. all of which further benefits the U.K. economy.