This paper is a report that mainly sought to identify the economic impact of the London Heathrow Airport, which was classified in this study as a tourism venue/ organization
Airport is considered as a location where aircrafts of varying sizes and types take off and land thereby acting as a stage for alighting and boarding aircrafts for passengers as well as the aircraft crew. Airport is a tourism venue/organization because it is the first and/ or last place that visitors pass through at a foreign destination.
The London Heathrow Airport is touted as the busiest airport in Europe with a very big passenger capacity. This fact has positioned London as an international financial center with an economy that runs on a 24 hours basis and businesses are supported by demand from the many passengers who are departing or entering the region via the Airport. However, the increase in demand arising from passengers has led to the creation of an artificial inflation within London
The main direct economic impact of the airport is that it acts as a major source of tax revenue to London local authorities and overall UK budget. The indirect positive impact of the airport is that it provides a ready market for other businesses enterprises that are located within the airport or in adjacent areas.
The direct negative positive impact of the airport is that it facilitates that development of artificial inflation while the indirect negative impact is that it reduces the suitability of London as international center for doing business. ...Show more