Ungated Post | 01 Nov 2016
The impact of heritage tourism for the UK economy
Heritage tourism is a vital part of the UK economy. In 2015, domestic and international tourists made 192 million trips to visit the UK’s cultural, historic and natural heritage assets.
The heritage tourism sector supported a £20.2 billion gross value added contribution to UK GDP and 386,000 jobs
The largest economic contribution is made, unsurprisingly, in London, where the heritage tourism sector is estimated to have supported a £5.7 billion gross value added contribution. However the relative importance of heritage tourism is greatest in the North East, Wales, and Scotland. Including direct, indirect and induced impacts, the sector provided nearly 2 percent of the total economic output produced in each of these. That is substantially higher than in the equivalent figure for the UK overall, at 1.1 percent.
Oxford Economics’ team is expert at applying advanced economic tools that provide valuable insights into today’s most pressing business, financial, and policy issues.
To find out more about our capabilities, contact:
Americas
Diantha Redd
+1 (646) 503 3052
Email
Asia Pacific
Peter Suomi
+65 6850 0110
Email
EMEA
Aoife Pearson
+44 (0)203 910 8054
Email
Related Services
Post
Generating ROI with AI: Six capabilities that drive world-class results
Generative AI has taken the business world by storm, with large language models (LLMs)—including OpenAI’s ChatGPT—splashed across the news. And executives aren’t immune to the hype. AI is becoming an ever-larger component of IT budgets, with worldwide spending on AI-centric systems expected to hit $154 billion this year—up 27% over 2022. But will enterprises spend these resources wisely? Our research says yes—if organizations take a disciplined approach.
Find Out More
Post
Deep Green
A global research study that details the current state of play on environmental sustainability actions and how data, technology and collaboration will drive the next phase of sustainability in business.
Find Out More
Post
Leveraging Technology to Promote Financial Inclusion
Oxford Economics and Red Hat surveyed executives at financial institutions internationally to discover how they are using technology to expand financial inclusion while gaining business benefits.
Find Out More