Economic Value Of Tourism In London - Dissertation Example

Street markets are one of those places that are under the direct influence of such tourists due to direct interaction between tourists, traders, management of such places and other personnel, and social elements involved. They are considered as a source of major revenue generation for the residents of the city and also considered as tourists’ attraction by federal and local authorities. Due to their strategic importance for the cities, these markets undergo changes and developments (at the different pace and of different nature) whereas these changes are promulgated by traders, management of these street markets and local officials in response to purchasing trends of local and foreign customers.

However, the research is mainly focused on responses of street markets to tourists visiting these places. The purpose of this research is to examine the effects of tourism on the street markets of London. For the purpose of this research, various street markets like Camden markets, Borough Market, Brick Lane Market and Portobello market have been selected as subjects of the research. Such selection has been made to include markets from different geographic locations. Also, most of these markets have the varied profile in terms of product portfolio, traders, management, history and culture which would be helpful in adding diversity to the research and enhancing generalization of its application on the larger population.

It is important to note that street markets are considered as a reflection of local culture. Due to the rich history and their direct relation with local inhabitants, they not only act as a hub of socialization but also act as a source of preservation of local heritage. Furthermore, they also provide the sense of community to those working there and residing at the same place. Street markets also provide a feel of originality and an opportunity for external visitors for getting in touch with local norms and values.