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Discuss the effect of tourism on Portsmouth's Economy - Essay Example

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Introduction The local infrastructure of Portsmouth has improved rapidly over the last ten years through establishment of improved transport links and communication. Portsmouth has over 100 high street shops centred in the commercial centre of the city. The government has undertaken initiative to expand the shopping area of Portsmouth and provide additional facilities for the attraction of tourists…
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Discuss the effect of tourism on Portsmouths Economy
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Download file to see previous pages The large shopping areas in Portsmouth include the Ocean Retail Park on the North-Eastern side of Portsmouth. There are large shopping areas which incorporate tourists in large sections and also provide attractive facilities to the tourists. Effect of tourism on Portsmouth’s Economy The city of Portsmouth witnessed a high number of 638000 staying trips made by the tourists in 2010. This shows the huge volume of tourism in the city of Portsmouth out of which 547000 trips were made by the domestic tourists of Portsmouth and 91000 staying trips were by the overseas tourists. The increasing number of tourists in the city of Portsmouth could be attributed to the major attractions of the city in welcoming tourists to visit the place. The tourists visit Portsmouth in order to enjoy the naval history of the place. The increase in tourism resulted in the rise of inflow of tourists for visiting the D-Day Museum, the Royal Naval Museum, etc. The increasing number of tourists visiting Portsmouth has impacted the economy of Portsmouth in several ways in the positive direction which has been explained as follows. Due to the increase in the number of tourists in Portsmouth, the level of spending in the economy increased. The tourists brought in huge funds for spending in Portsmouth. These funds were spent for meeting the expenses of tourism, day trips, night trips, accommodation in Portsmouth, food and shopping, etc. The visitors staying in Portsmouth have spent a total of 130.6 million pound sterling during their trips in 2010. This is an increase of the funds spent through tourism activities by 4.1% as compared to 2008. The day trips made to the Gunwharf Quay increased by 5.5% in 2010 as compared to the footfall in 2008. This generated an additional expenditure of 8% in 2010 as compared to the figures of 2008 amounting to 269.9 million pound sterling. The increasing expenditure by the tourists was due to the increasing demand from the tourists in consuming essential and luxury products during their trips to Portsmouth. The high amount of funds spent by the visitors led to the injection of additional liquidity in the economy of Portsmouth. The increase in the liquidity led to the rise in the income level of population as compared to the earlier years. The people of Portsmouth experienced a rise in their purchasing power and the potential to invest more in the economic and commercial activities. This led to the changes in the style of livelihood and the people began to open up in terms of their spending limits by accepting the forces of change. The activities of tourism result in the exchange of culture between the city of Portsmouth and the other cities as well as the overseas culture. The habits of the domestic people also started to undergo changes due to the flourishing industry of tourism. Overall, there was a trend of development in the livelihood of the people of Portsmouth due to the economic advancements on account of the increasing activities of tourism over the last decade. The developments of tourism industry in Portsmouth and the rise in the income level of the local population of due to the development of tourism in the economy resulted in the increase of purchasing power of the people. The increasing dema ...Download file to see next pages Read More
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