UK TOURISM INDUSTRY

Strategic Country Risk Analysis of the UK Tourism Industry



Strategic Country Risk Analysis of the UK Tourism Industry

Introduction

The United Kingdom is made up of Scotland, Wales, Northern Ireland, and England. It has a extensive history as a key player in worldwide relationships and accomplishes an essential role in the NATO, UN and EU. This paper provides an overview of the Strategic Country Risk Analysis of the UK Tourism Industry in order to advise potential 'investors' of a business in the industry sector.

Discussion

Economic Overview

The UK is believed to be a foremost financial center and trading power. Its economy is one of the largest in the world as well as one of the strongest in Europe, with an annual GDP volume of about US$2 trillion. The country has a industrialized, mature market economy with a deteriorating conventional industrialized division balanced by a fast-growing, vibrant, services division which is guided by insurance companies, emerging technology companies and outstanding banks. The U.K. has got to a comparatively good point of GDP growth with an average 2.8% over the last decade, and regardless of a complex international financial environment, is having its longest broken up economic growth since the 2nd World War. (Collins 2009, 25-35)

Environmental Overview

The UK suffers from chief pollutions with air pollution from greenhouse gas and sulfur dioxide emissions; water pollution from waste dumping; and more lately, considerable altitudes of emission from radon in the earth. It is also place of natural resources, such as oil, & gas, coal, and their related businesses. These energy-based businesses have an included effect on the atmosphere.

Social Overview

While British class structure stays astonishingly flexible, the strength of class-based community distributions has decreaswed; even the Labour Party has deserted its usual expression of group clashes, accomplishing its election success on a call to a wide range of middle-class professionals and workers. Social pressures rooted in economic dissimilarities continue. Since the 1980's, wealthy people have flourished and the degree of public services has weakened. In the meantime, comparatively low-paid labor has facilitated to appeal to investment and encourage economic expansion. (Collins 2009, 25-35)

Political Overview

The government that was in rule since 1997, first under Tony Blair and then under Gordon Brown, has lost its majority in the House of Commons in the election of 2010. For the first time since 1974, though, no party could get an extensive majority in the House of Commons, that led to some time of deep conciliations between the Liberal Democrats who placed third in number of seats won and the Conservatives, who got the most seats,.

Foreign Relations Overview

The UK is a founding member of the NATO (North Atlantic Treaty Organization) and is one of NATO's main European land, air, and maritime powers; it ranks 3rd among NATO countries in total defense expenses. The UK has been a part of the European Union since 1973. In the UN, the UK is a member of the Security Council permanently. The U.K. held the Presidency of the G-8 during 2005; it ...