Summary
Summary PUBLIC TRANSPORT
- Module
- UNIT 16 PUBLIC TRANSPORT
- Institution
- PEARSON (PEARSON)
Full UNit 16 public transport P2 M1 D1. Distinction marked and given. Full assignment.
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Exchange ratesExchange rates are very crucial to inbound and outbound tourism and when people travel to
different countries.
Exchange rates are when a certain currency is exchanged to a different currency. Exchange
rates can be bad and good, and this would result in getting more for your money in
different country or getting less for your money.
Depending on the exchange rates , different countries will visit the UK because they can get
more for their money .This will relate when the countries such as Saudi Arabia , China and
USA will visit the UK all the time and are the biggest assets to UKs tourism however this
countries are more likely to visit more when the pound is bad. The reason why these certain
countries visit so much as they are the highest spending countries that visit to the UK.
These countries tend to stay longer as well which does suggest why these countries spend
so much more .
Exchange rates will depend on certain people on the lengths of their stay.
For 2020 Britain has a prediction of 6.6 spending growth in 2020 and a spending of 30.3
billion before Covid .
However, because of COVID effects the exchanges rates and the economy itself a 74%
decline in inbound visitors and a 79% decline in spending from inbound tourist.
This is because airports where closed and was not able to travel into the UK from other
countries. Because of the lack of money being spent as well at the economy being all over
the place , the pound became really bad in the lockdown with predictions being to fall 4 % in
2020 and 9% in 2021 however the pound has recovered today by 0.64%.
The pound at the moment is equivalent to $1.3011 and 1.1958 euro .
The frequency of visits is crucial for UK tourism too keep thriving under the change of the
exchange rates. With people from Spain normally staying for 6 nights this gives plenty of
time for people to spend money. However, with exchange rates going up and down, this
could affect the frequency of visits from countries such as Spain , USA and China.
Visit Britain estimated that pre covid in 2020 to see a 2.9% growth in visitor numbers and a
6.6% growth in spend.
Because the pound has declined which suggests the economy is lacking in businesspeople
are not able to domestically travel because of the less disposable income
With this happening the value for tourism because much less due to rates going up and less
people are wanting to visit the UK because of the exchange rates.
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