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WorksheetWORKSHEET

Currency and Tourism Worksheet

It may not appeal, but the thought of more tourists arriving to coo and ahh at your national monuments and other attractions, could be doing your country a lot of good.

Data is collected on the revenues earned as a result of holidaymakers visiting from overseas; statistics are also held about the spending that happens when we travel abroad. These figures can be looked on as a 'balance of tourism payments'.

But, of course, decisions to travel abroad on holiday, into your country or, in some cases out of it are not usually made at random. From one period to another, a destination can seem attractive depending upon a key economic variable: the exchange rate.

Go to the TimeWeb sample button and retrieve data (for the period 1986 to 2000) for 'Revenue from Overseas Visits to the UK', 'Expenditure from UK Visits Abroad' and the 'Sterling Effective Exchange Rate Index'. Download this as annualcomma separated data - GMAKAU & GMAMAU.

Now try to answer the following questions:

Q1. What does the data on revenue from tourism into the UK 1986 - 2000 show?
(Select one answer)

(a) * The UK receives more from inward tourism than its citizens spend on overseas holidays.
(b) * UK citizens' expenditure on foreign holidays far exceeds revenue gained from inward tourism to the UK.
(c) * Inward revenues and outward expenditure pretty much balance.
Q2. Over this fifteen year period, what has been the percentage increase in revenue from overseas visits to the UK?
(Select one answer)

(a) * Over twice as much.
(b) * Nearly 130 %.
(c) * Under 100 %.
Q3. Over this period, what has been the percentage increase in expenditure on UK visits abroad?
(Select one answer)

(a) * Nearly 300 %.
(b) * Nearly four times as much.
(c) * Nearly 30 %.
Q4. Which of the following statements about the data for the sterling effective exchange rate do you think is justified by the data?
(Select one answer)

(a) * Sterling stayed fairly stable over the period.
(b) * Sterling lost value consistently over the period.
(c) * Sterling's value varied throughout the period.
Q5. Can you identify specific years when sterling was appreciating/depreciating/re-based to 100?
(Select one answer)

(a) * Neither of these things happened.
(b) * Appreciating in 1997/depreciating in 1992/re-based in 1990.
(c) * Appreciating 1992/depreciating in 1997/re-based 1986.
Click to view your total score for all the above questions that you have attempted.

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