Iraq war ‘could cost inbound tourism £2billion’
The Iraq conflict could cost Britain’s inbound tourism industry as much as £2billion, according to a forecast by the Tourism Industry Emergency Response Group (TIER).
The organisation, which was set up after September 11 to respond to major industry issues, says that the war has led to a “clear nervousness about travel, particularly from long haul markets”. Basing its estimate on the current situation, previous experience and economic models it says that the conflict will cost the British inbound tourism industry “something in the range of £1.5bn to £2bn this year, a drop of 15% on 2002.”
TIER points out that even without the war, low consumer and business confidence would have meant that 2003 was “at best..a rather flat year.”
It claims that the longer term outlook is much better: “Tourism is a growth industry and there is strong latent demand for Britain in most markets.”
Members of TIER include VisitBritain, ABTA, British Airways, British Incoming Tour Operators Association (BITOA), VisitScotland, the Wales Tourist Board and the London Tourist Board.
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