Economic recession Essay Example for Free

stinting corner EssayEconomic recession is a period of economic decline it means that there is a drop in the stock market, and an increase in unemployment further in like manner a decline in the housing market. It in like manner means that in Tourism, the residents of UK pass on hold to will choose to pass at home as the http//www. independent. co. uk infers Grounded by the diminishing value of the exhaust and fears about the recession, record depends of Britons will choose to holiday at home this summer. opening http//www. independent. co. uk/news/business/analysis-and-features/its-an-ill-wind-uk-tourism-finds-recession-is-so-bracing-1522542.html Additionally, the research by Visit Britain, the tourism authority, has shown that 74 % of people argon trying to reduce their holiday spending, and are spending more clip planning their trips to maximize value, a cottage in Britain where you can just pack the car up and take all your own food suggests that youve got grea ter control. However reducing the holiday spending is not the major problem, as there has been a big change in reprimands to Britain official figures have revealed that the number of tourists who visited the UK from overseas in 2009 suffered a 7% decline on the previous year to 29.57 million.The data from the contribution for National Statistics (ONS) also showed that the number of UK residents who made trips abroad fell 15% last year to 58. 53 million. But visitors to the UK spent around ? 16. 48 billion, or 1% more last year than they did in 2008, a contrast to UK residents expenses while abroad, which amounted to ? 31. 85 billion a 14% fall on figures from 2008. The recession also had an impact on the number of trips UK residents took abroad last year. The figure fell 16% to 38. 44 million, while business trips were down 22% and visits to friends and relatives (VFR) abroad fell 7%.By contrast, more foreigners visited the UK on holiday, with the numbers rising 3% last year, al though the overall total suffered with business trips falling 20%. The ONS also recorded a fall of 10% in the number of VFR trips to the UK last year. Records also reveal that UK residents took 21% fewer trips to North America last year and 15% fewer trips to Europe. Source http//www. statistics. gov. uk/hub/index. html Source http//uk. reuters. com/article/2009/07/16/us-britain-travel-idUKTRE56F3FX20090716 QUALITY OF GOOD AND SERVICESMost visitors that come to United Kingdom have clear expectations about what they must move over for, but around of all they are hoping that the quality of what they pay for is worth their money. The concept of value for money is closely related to price but also involves other(a) quality criteria. The English Tourism Councils has set up pencil lead rating that let the visitors to be informed before they book accommodation to recognise quality and to differentiate levels of facilities and function which as potential difference guests they can e xpect, so that it can help them to match their needs and ensure they are not disappointed.The star rating gives an overall judgement of quality including comfort, space, facilities, and cleanliness, and can be used by both domesticated and inbound tourits. One star indicates that the place is acceptable overall of quality. There is also adequate purvey of furniture, furnishings, and fittings. Hotels that have only one star are usually small, and privately owned. Dinner may not be offered. Two star hotels are also usually small, and privately owned, including resort hotels, and commercial hotels. adjustment offers a good degree of space and convenience. Furnishings may be simple but are wellspring maintained in all the bedrooms. Breakfast is offered daily to residents and their guests. Dinner is available at least louver nights per week. Three star hotels indicates that it is a more formal style of hotel with a greater range of facilities and services such as colour television, t elephones, radios, desk etc. There are also public areas including lounge seating, restaurants or bars.Dinner will be provided seven nights per week and light snack lunches are available in the bar or lounge, together with a wide range of drinks. Additionally, theres also slipstream service available. Four star hotels infers that there is a luxury quality with services to match, for example, there is a selection of catering options all offering cuisine and service of the highest international quality. There is also super trained, professional staff providing exceptional levels of anticipatory service. Source http//www. britainexpress. com/oxford-hotels/star-ratings.htm EXCHANGE RATES The value of one money against another currency is known as the foreign exchange invest. Exchange rates are an authorised factor in determining patterns of holiday taking, as any rise in the value of the pound will encourage outbound tourism, particularly if it involves the leading destinations co untries. The value of the pound, or sterling, against another currency affects the bell of coming here for inbound tourists. It can affect negatively if it is more expensive to visit UK, but also can affect positively it is cheaper to visit UK.It is more likely that the appeal to tourist will increase when sterling is weak, as they will get more pounds for their money. Conversely, if sterling is strong, overseas visitors get little pounds in exchange for their money and are less likely to want to come here. In fresh years sterling has been very strong against the dollar, or the dollar has been weak against sterling which amounts to the same thing. This has meant that it has been comparatively cheap for UK outbound tourists to visit the United States and more expensive for Americans to come to the UK.As VisitBritain. org have suggested that collectible to the dollar being weak against sterling, America perceived United Kingdom, as an expensive place to visit the cost of accommo dation, transport, and food has been highlighted by Americans as being really high priced. If the pas is riding high against most other currencies, it allows the British to budget for their holidays abroad with unusual freedom of choice, because the UK holidaymakers get much more for their money.For example, the rate of exchange with the Spanish peseta, the French franc, and the US dollar influences over 60 % of the holidays taken abroad by the British. The exchange rates depend on the strength or the weakness of sterling but they are also affected by the internal strength of currencies in main destination countries like France or Spain. At the moment the strenght of the pound sterling against other currencies looks as followingSourcehttp//fx-rate.net/