UK Tourism Industry during the Economic Crisis

E. Sokolova
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E. Sokolova: Department of Economics of Art, State Institute of Art Studies, Moscow, Russia

Journal of the New Economic Association, 2014, vol. 24, issue 4, 195-200

Abstract: The UK has a developed tourist infrastructure and is one of the most visited countries in Europe and the world. The most important factor affecting the attendance of the country is its cultural and historical heritage. However, the economic crisis has had its negative impact on the prosperous economics of this industry. Carrying out the reform of the sphere of culture and tourism in the framework of the austerity measures, British government tried to cut funding for public institutions of this sphere, forcing them to increase the share of private funding in their budgets. However, today, before the industry faces challenges related to the need to maintain leadership in the global market. The article deals with the state policy in relation to the tourism industry in the face of increasing competition and of economic downturn.

Keywords: tourism industry; finance; economic crisis; culture; state policy (search for similar items in EconPapers)
JEL-codes: L83 (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:nea:journl:y:2014:i:24:p:195-200

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