Discuss the contribution of the tourism sector to the UK and the World economy (provide some relevant data, graph in support)

Description

– Provide an overview of the UK tourism sector

– Discuss the contribution of the tourism sector to the UK and the World economy (provide some relevant data, graph in support)

– Discussion of UK’s BoP current account – main trade partners, main exports and imports, balance of trade etc.

– Discuss UK’s export and import of tourism services

– Discussion of UK’s BoP financial account – tourism inward and outward investment flows

– Discussion of UK’s areas of competiveness (underpinned by relevant theory)

– Discuss how the current pandemic crisis impacting the UK tourism sector (provide some facts and figures to support your arguments)

– Discussion of WTO global rules of trade and how they will impact the areas of competitiveness identified previously

– Discussion of the post-Brexit sterling exchange rate, its relatively recent past evolution and how it affected UK’s tourism

– Make some feasible recommendations on how UK’s tourism sector overcome the current challenges due to the pandemic