Yorkshire Tourism Investment Research Coursework

Yorkshire Tourism Investment Research - Coursework Example However, the region has a lot of untapped potential towards offering more quality and increase revenues through a few unexplored avenues. The Yorkshire region is home to some beautiful landscapes and a vast countryside that can offer numerous opportunities for visitors to experience nature (Beeton, 2010). Tapping the tourist element in the rural countryside will also be economically beneficial to the local communities besides providing them a unique opportunity to showcase their tradition and culture. Any development of eco-tourism in coordination with these local communities must however be implemented through a sustainable framework that can ensure long-term growth and prevent any damage to the local environment. Key Drivers and Objectives ‘Rural tourism’ is a relatively new concept in the United Kingdom (UK) whose importance and growth potential were recognized by the government. Grants such as the ‘Yorkshire Forward’ are available to individuals and firm s that aspire to develop a tourism related business in the rural parts of Yorkshire. The ‘Yorkshire Forward’ grants are offered through the RDPE (Rural development program for England) (Hall, 2010). The grant program was initiated after an extensive research by the RDPE which sensed the need to enhance the quality of tourist facilities and accommodation available in the rural regions of Yorkshire. Grants can fund up to 50% of the total cost of such projects up to a maximum amount of ?25,000 upon fulfilling a few conditions (Goodall, 2008). The key focus is to improve the standards of serviced accommodation, self-catered hotels and rural pubs by introducing new bedrooms of better quality or upgrading any current facilities that may help the business develop further. Any such initiative must help develop a long-term relationship with customers so that they may prefer to visit again, thereby improving the prospects of the regional economy. From a macroeconomic perspective, the importance of tourism in Yorkshire’s economy cannot be underestimated. The sector contributed over ?5 billion in 2008, with over 90% of the visitors originating from the UK. Amongst these tourists, day visitors contributed around 45% of the revenues while the rest was contributed by staying tourists. International tourists also accounted for ?400 million in revenues (Holman, 2008). The peak season for tourism is summer although trips to the countryside can be organized throughout the year. Another important segment that could prove beneficial for rural tourism is business tourism, which constitutes over a quarter of tourism in Yorkshire. Beeton (2005) says that events such as corporate meetings and conferences can be organized in the countryside and promoted effectively as a low-cost and environment friendly alternative to conventional solutions. There are however several issues and risk factors that must also be evaluated and minimized efficiently to embolden the confid ence among tourists regarding rural Yorkshire. While the rural parts enjoy a dense road network in terms of connectivity, accessibility through air is relatively underdeveloped. Improving international connectivity and encouraging tour operators is an important consideration if rural tourism is to become a popular success. Local airports like the Leeds Bradford and Robin Hood must be upgraded as required to cater to domestic and overseas travelers and connectivity from these airports to any part of the Yorkshire region must be improved (Coles, 2008). Occupancy rates in rural Yorkshire are also lower than the regional or national average (at 60% and 82% respectively) (Spencer, 2008). Thus, any promotional initiatives and development projects must consider the aspect of improving