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£130bn Tourism industry

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Tourism chiefs gathered for an emergency meeting on Monday amid fears the UK's £130bn industry will be hit by the spate of recent terrorist attacks. It remains to be seen whether visitors to the capital will be put off by the latest attack. The Tourism Industry Emergency Response (Tier) Group convened to discuss what impact the latest London atrocities will have on the industry. Members include the Association of British Travel Agents, UKinbound, British Hospitality Association, Britain’s national tourist boards, British Airways and the Association of Leading Visitor Attractions.

Alton Towers owner Nick Leslau told - terrorism incidents would affect all London businesses. “There is an inherent risk for London hotels, concert operators, restaurateurs, theme parks and all kinds of leisure operators,” he said. “Everyone is going to feel an impact on revenue of some degree or another.” CityAM

They didn't include landlords. It will have significant impact on the short stay BTL and on holiday homes where the rental season is short.

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1 hour ago, rollover said:

They didn't include landlords. It will have significant impact on the short stay BTL and on holiday homes where the rental season is short.

if the waiters etc go home due to lack of work this will reduce rental demand and everything else being equal will result in lower rents and property prices...

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I don't see how it can fail to suppress the tourist industry to some extent. I've read a couple of articles about far eastern tourists (Chinese, S Korean, Japanese) staying away from Paris because of the atrocities there, and also the grim state of many districts with migrant tents in parks etc. Moscow is apparently considered a safer destination!

And the Greek islands across from Turkey are way down in tourist numbers - which is the last thing the Greek economy needs. 

 

Edit for typo

Edited by newbonic

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The Tourism Industry Emergency Response (Tier) Group convened to discuss what impact the latest London atrocities will have on the industry. Members include the Association of British Travel Agents, UKinbound, British Hospitality Association, Britain’s national tourist boards, British Airways and the Association of Leading Visitor Attractions.

So the Tourism Industry Emergency Response Group includes British Airways, eh? After their "emergency response" to their IT meltdown??

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On 06/06/2017 at 1:17 PM, RentingForever said:

I was in That London yesterday (Pink Floyd at the V&A). It seemed as busy as ever - ie can't move, can't find a seat, get-out-of-my-effing-way busy. 

London is full of tourists, the rate of the pound is very favorable to them at the moment.....have to weigh up the pros and the cons, London will always be a popular city break......anyway, people like to be where other people go and are, in London you are anonymous, can be yourself without judgement.;)

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Surely with all the additional expenditure on security measures terrorism must be great for the UK GDP figures?

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As someone said, the weak £ makes London and the rest of the UK a very attractive destination.

On a recent visit home I converted $s to £s for my spending money and on that basis found everything incredibly cheap.

Supermarkets and chemists seemed ridiculously cheap so I stocked up on all sorts of stuff. 

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Nah, they'll still come in droves - if numbers wobble a bit room prices adjust accordingly and people will just think "fck it let's do London, prices are good at the moment!"

London's one of the greatest cities in the world - although reading HPC you'd be forgiven for thinking otherwise. 

Edited by knock out johnny

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1 minute ago, knock out johnny said:

Nah, they'll still come in droves

London's one of the greatest cities in the world - although reading HPC your be forgiven for thinking otherwise. 

The Parisian experience seems to contradict you - 1.3 Billion is a lot of money.

http://www.independent.co.uk/travel/paris-tourist-numbers-drop-franch-terror-attacks-further-charlie-hebdo-bataclan-shooting-isis-a7592836.html

Quote

Tourism in Paris has been hit hard by terrorism fears.

The capital city and the Île-de-France region which surrounds it welcomed 1.5 million fewer holidaymakers in 2016 compared to 2015, according to the Regional Tourism Committee.

This 0.8 per cent drop in visitors has cost the area 1.3 billion Euros, which is a 6.1 per cent fall in takings from 2015, Le Figaro reports.

The new figures suggest the main reason tourists have been put off visiting Paris is fears over terrorism and security in the wake of the Charlie Hebdo massacre in January 2015 and the attacks in November of the same year.

Concerns seem to be particularly strong amongst Chinese and Japanese travellers, whose numbers have dropped 21.5 per cent and 41.2 per cent respectively.

Chinese tourists are Paris’ biggest spenders - upmarket department store Les Galeries Lafayettes has revealed that visitors from China are their main customers and their average Chinese shopper spends 1,400 Euros per visit.

 

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2 minutes ago, iamnumerate said:

0.8% drop in visitors - is that even statistically significant? Although the 6.1% drop in revenue is indeed a wobble

They'll still come - personally, nothing that's happened in Europe makes me think twice about going anywhere. 

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20 minutes ago, knock out johnny said:

0.8% drop in visitors - is that even statistically significant? Although the 6.1% drop in revenue is indeed a wobble

They'll still come - personally, nothing that's happened in Europe makes me think twice about going anywhere. 

41% drop in Japanese - that is significant.  I would be worried if I worked as a Japanese speaking tour guide wouldn't you?

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4 minutes ago, iamnumerate said:

41% drop in Japanese - that is significant.  I would be worried if I worked as a Japanese speaking tour guide wouldn't you?

"Lies, damned lies and statistics"

But I take your point

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