A report by professional services from Deloitte and forecasting organization Oxford Economics says UK tourism could grow by 60 per cent to 188 billion pounds in the next 10 years. The number of tourism linked jobs could increase as well the study said. The increase in jobs could grow from 264,000 to 2.89 million in 10 years time.
While UK residents and overseas visitors spend an estimated 115 billion pounds here at home, foreign visitors could increase their spending from 16 billion pounds to 31 billion pounds by 2020.
The reason for the increase in tourism is two fold. First, the favorable exchange rate, which CEO of VisitBritain reiterated by saying, “The weak pound certainly helps in the short term.” Also, the prospect of the 2012 Olympics helps as well. Although it is quite costly to the government as well as its people to host an Olympics, the tourism benefits are invaluable.
VisitBritain predicts that only the financial and business sectors will grow faster than tourism over the next few years.
The report also voiced concerns that the government would be needed to ensure the success of the predictions. Things like, marketing assistance to small and medium sized tourists businesses and support for UK areas relying on tourism as a source of jobs for part-time workers.
It has also called on the government to help adapt to trends which are new to the area, like the growing number of older tourists.
Th chairman of VisitBritain said, “The continuing low level of the pound and the approaching Olympics in 2012 give us a tremendous opportunity to promote Britain’s attractiveness as a destination to the rest of the world.”