Economic crisis can stimulate UK tourism
I’ve posted about the effects of the current economic crisis here and here over the last couple of months, and have made the point that the price differentials offered by the uneven development of the global financial meltdown may well provide a boost to inbound tourism, as well as the domestic tourism market. By clicking on the image below you can watch a BBC news item about the rising numbers of European visitors to Tyneside. It is interesting to hear the regional tourism spokesman emphasise the importance of building up the quality of the local tourism product, especially the new Institute of Modern Art in Middlesborough: a sign that, to ride out the economic crisis, British tourism needs continued investment. In this respect it is not unlike all the other industries seeking government funds; unlike many others though, this report suggests the potential presence of a growing market, rather than a shrinking one.