Transforming Greenwich as a tourist centre Essay Example

the 13th most popular European city destination. However, in 2005, the number of visitors skyrocketed to 5.5 million, making Barcelona the fourth most visited city in Europe (after London, Paris, and Berlin) and the leading non-capital city for tourists.

Fanny Palli-Petralia, former Culture Minister, supported this notion by highlighting the impact of sporting events on Greece's tourism industry during her tenure overseeing Athens' hosting of the 2004 Olympics. She observed a 13 percent increase in visitor numbers to Greece in 2005 and emphasized how the Olympics effectively served as a promotional campaign for Greece's competence, sophistication, and security over its duration of 19 days. Palli-Petralia also noted that while sea and sun used to be Greece's primary tourist attractions before, the country now offers diverse activities for year-round tourism opportunities.

London and Greenwich Council are aware of the Olympics' potential to drive tourism growth.They are implementing measures to capitalize on these opportunities and enhance the tourism industry.The Olympics present an exclusive opportunity for Greenwich to enhance its global reputation and revolutionize its tourism industry, given that it is recognized as the most-watched sporting event across the globe.

In order to fully capitalize on this opportunity, it is important to organize niche and unique events and activities that can occur during the Olympics and also continue as annual events afterwards. These events will benefit from the media attention surrounding the Olympics for promotion.

To promote and celebrate the best of Greenwich's music culture during the Olympic period, we propose a 3-day classical music event called The Greenwich World Classical Music Festival. This event aims to use the Olympics as a platform to boost tourism in Greenwich while entertaining visitors

during and after the Olympic period.

Additionally, in line with the project and overall goals, we plan to develop and launch a website that will feature a comprehensive database of all available accommodations in and around Greenwich for short-term stays. This will enable visitors not only to explore Greenwich but also find suitable lodging during their visit.

Moreover, being a vibrant urban and cultural community, Greenwich is no stranger to musical events. The highly acclaimed O2 Arena is situated within the jurisdiction of the Greenwich council. Over time, Greenwich has been a venue for diverse music events spanning from classical performances by the Philharmonic Orchestra to urban music shows.

Greenwich is located on a broad platform south of the River Thames, with a deep water quay in the river. The land to the south rises steeply towards Greenwich Park and Blackheath town, reaching a height of 100 feet (30 m). This higher area consists of gravely soils called the Blackheath Beds, which cover a chalk outcrop. The lower levels by the river are made up of sands, loam, and clay seams. Surrounding Greenwich are Deptford Creek and Deptford on its west side, while its east side includes the former industrial center of the Greenwich Peninsula and the residential area of Westcombe Park. To the north lies the Thames River, while to the south is Blackheath common and A2.

Greenwich is famous for its exceptional heritage, as documented by Greenwich Council in Destination Greenwich (2008). The area provides a variety of attractions such as museums, galleries, architectural wonders, maritime history sites, parks, and palaces. It holds global recognition as the birthplace of Greenwich Mean Time and the source of the

prime meridian line.

Travelers throughout London can easily access Greenwich thanks to its convenient transportation options.

Greenwich offers a high standard of living for its residents and workers, providing a wide range of recreational and athletic options, vast expanses of green spaces and parks, exceptional shopping opportunities, historic markets, and the cutting-edge o2 arena. The borough also fosters a thriving business atmosphere, undergoing significant growth to establish itself among Europe's premier destinations for residence, work, and commerce. Greenwich has already become a global name, bolstered by its strategic location and convenient transportation links that enable convenient access to business hubs like Canary Wharf and the City.

Project Aims and Objectives:

The aim and business intention of this project is to promote Greenwich as a tourist destination. We aim to launch this project in the summer of 2012, taking advantage of the media buzz and the expected 20,000 visitors to Greenwich for the Olympics games. The project will consist of a unique classical music festival that will showcase the best of Greenwich's culture and heritage music. In addition, we will create a searchable database of short-term accommodation options in and around Greenwich to enhance the project's value. This database will allow more tourists to not only visit Greenwich but also stay in the area during their trip, facilitating the development of group markets and improving visitor management. The target audience for this festival includes both established classical music lovers and younger generations. Our marketing strategy will focus on the 4 Ps of marketing: Product, Price, Place, and Promotion.

Event-driven tourism has the capacity to impact regional development, as well as the social, economic, and demographic conditions. This type of tourism possesses

distinct characteristics that differentiate it within the broader tourism industry, highlighting its significance for regional economic development.

Subhash C Jain (1999) suggests that marketing strategy involves the interplay of three forces known as the Strategic three Cs: The customer, the Competition, and the corporation. The aim of marketing strategies is to enable the corporation to effectively differentiate itself from competitors by leveraging its unique strengths in order to provide greater value to its customers.

Marketing Audit and SWOT Analysis:

The objective of this SWOT analysis is to evaluate and analyze the internal and external factors of the Greenwich area that will benefit our project. SWOT analysis is an auditing technique used to assess an organization and its surroundings. "It furnishes valuable information for aligning organizational resources and abilities with the competitive environment in which it functions".

However, in this project the SWOT analysis is utilized as a decisive element for identifying crucial internal factors of Greenwich as a tourist center. These factors encompass the strengths and weaknesses of the location, which can contribute to a clearer understanding of the requirements for the new product development. Additionally, this project employs the SWOT analysis to ascertain the internal components of Greenwich pertaining to tourism, with strengths and weaknesses being vital factors. Furthermore, external factors such as opportunities and threats are emphasized in the KATO's project development.

Strengths and weaknesses:

Greenwich is a center for tourist attraction.

Greenwich is famous for its maritime history and iconic attractions such as The Royal Observatory, the Old Royal Naval College, and Cutty Sark. These attractions draw tourists from all around the world to Greenwich.

Greenwich hosts events and functions that attract people both nationally and internationally, resulting in a

decrease in the number of visitors. Additionally, it is currently hosting a part of the Olympic games, a widely popular event that draws attendees from all over the world. This will undoubtedly bring more people to the Greenwich area.

The issue of accommodation in Greenwich is urgent, despite the presence of hotel chains and ongoing construction. Accommodation is a critical factor that requires careful attention in the local area.

Opportunities and threats include a world music festival that brings together renowned musicians from various cultural backgrounds to entertain and showcase their talent. This event also encourages local musicians to display their skills.

The presence of attractions in Greenwich can lead to increased opportunities for local businesses. As Greenwich becomes a popular tourist destination, more people are likely to visit, creating even more opportunities for new businesses.

More job opportunities are available for Greenwich locals as the project is created through a proposed partnership with Greenwich Council. The partnership aims to provide full support to the local community in Greenwich.

Increase in competition to meet people's needs

Home search database; Recent demographics reveal the distribution of housing in Greenwich: Owner-Occupied: 37.6%, Social Housing: 46.9%, Privately Rented: 12.5%... source. This database is designed to assist in locating temporary homes within Greenwich and will be linked to the Greenwich council website for public access. Additionally, it provides an opportunity for property owners in Greenwich to generate extra income by leasing available rooms or apartments temporarily, benefiting the local community.

Competition arises from local hotels, prompting hoteliers to seek alternative methods of attracting customers.

Establishing a brand: World music festival and Home Search Database.

With the aim of creating an event that people all around the globe

will eagerly await, these projects are tailored to extend beyond the Olympics and ensure the longevity of the music festival.

Potential competition may arise from other tourist cities looking to adopt similar concepts.

A global attraction, a world musical concert brings together musicians from around the world and showcases diverse cultural features. However, in the Greenwich area, famous for tourist attractions like the Royal Observatory, Royal Naval College, Greenwich Maritime Museum, Cutty Sark, and more, attention now shifts to being one of the hosting centers for the 2012 Olympics. Consequently, people from across the globe will gather here to be part of this grand Olympic event. Additionally, as this world musical event plans to continue beyond the conclusion of the 2012 Olympics, it is crucial to consider the PESTEL analysis of macro-environment factors. Various macro factors such as new laws, government policies, trade barriers, tax changes,and environmental alterations can have both positive and negative influences on our decision-making process. Together these factors make up the PESTEL analysis.

PESTEL ANALYSIS

Political factor

The hosting of part of the Olympic games in Greenwich is viewed as a chance for the area to exhibit its tourist sites. Some believe it will also bring new business and development opportunities for both the locality and its residents. However, there are critics among local residents who hold a different perspective. They contend that holding the event in Greenwich Park may lead to significant harm and argue against it, citing the park's World Heritage status.

However, it can be argued that humans are resistant to change and do not readily accept new plans, development, and strategies unless they are properly informed about the benefits and advantages. Additionally, the

government recently launched a scheme or programme that will greatly benefit Greenwich. One of the guiding policies for the locals is the Business policy, which includes the "one-in one-out" rule with a sunset clause. This rule ensures a thorough review of rules and regulations. Consequently, any project supported and developed according to the government scheme will receive full contribution from the locals. Thus, the residents of Greenwich are the sole beneficiaries.

Tax policy is a political factor that may influence this project. However, the coalition government's cost reduction strategy is expected to result in significant changes that could potentially benefit Greenwich. With an increase in tourist visits to Greenwich, there will be a rise in tax revenue generated. The Government scheme requires this revenue to be reinvested in the country's development.

The coalition government's agenda involves implementing tax policy reforms with the goal of simplifying, increasing competitiveness, promoting fairness, and supporting environmental sustainability. These adjustments are crucial for enhancing the economy's competitive edge. The government aims to enhance predictability by providing taxpayers with transparent information and assurance regarding future taxation.

The Government pledges to enhance the stability of the tax code by implementing changes at a reduced pace. Their emphasis will be on fewer, yet more refined proposals and enhancing the procedures for modifying tax law.

By implementing this scheme and government approach, it can be argued that an efficient budget allows taxpayers to comprehend the government's strategies for enhancing the stability of the country's economy. Additionally, taxpayers can understand how to maximize the advantages from this progress.

Although high earners may experience increased tax rates, it is essential for tourists to comprehend the reasons behind their higher payments in

order to fully enjoy the benefits.

The UK economy is slowly recovering from the recessions and credit crunch that almost caused a collapse. On June 22, 2010, Chancellor George Osborne announced the new budget for 2010, which focuses on cost-cutting measures. As reported in an article in the Telegraph on the same date, the budget includes several changes such as increasing the VAT rate from 17.5% to 20%, raising capital gains tax for higher-rate taxpayers to 28%, freezing child benefit for three years, implementing a two-year pay freeze for public sector workers, and no new taxes on alcohol, tobacco, or fuel. These changes will have negative impacts on sectors affected by them, leading to inflation and higher interest rates. Consequently, individuals in these sectors will face challenges in spending more than their earnings and this will ultimately affect their purchasing power.

The stakeholders of this project will be greatly impacted by their earnings and investment capabilities.

Another crucial factor restricting stakeholders, particularly those from outside the country, who are planning to be greatly involved in the Olympic and proposed musical event, is the UK's high taxation. The UK is widely recognized as one of the most heavily taxed countries in the world.

Social factors
The Greenwich area is renowned for its tourist attractions, making it a recognized global tourist center. However, there has never been an event of this magnitude, such as the world's classical music festival, held in the local Greenwich area. Consequently, this festival marks a new chapter in the social history of Greenwich. Currently, Greenwich already organizes an annual music festival, but it has yet to gain international attention. Nevertheless, this upcoming classical music festival is expected

to add another alluring element to the Greenwich region.

In the Greenwich area, an important factor to consider is the demographics. Greenwich encompasses over 5000 hectares and has a population of approximately 230,000. About one fifth of the population in Greenwich borough is aged 15 and under, while 14% are retired. Locals take pride in being the home of time and heritage center. Overall, the people of Greenwich are known for their peaceful coexistence and friendliness, although some locals have concerns about the Olympic making the area overcrowded.

Technological factors play a significant role in shaping markets. New technologies lead to the development of innovative products and refine business processes. For instance, the introduction of a home search database poses a challenge to hotels in Greenwich. This database will likely create competition in the property market as it offers temporary housing options to tourists and travelers. If successful, other boroughs and even the government may endorse and support this database, making it indispensable for temporary housing needs.

The importance of the environment is a key concern for both organizations and governments seeking to create a more sustainable world. Prioritizing efforts to minimize waste and foster a healthy environment has become imperative. Nevertheless, with the upcoming Olympic Games and KATOS project drawing global visitors, it is essential to give serious thought to adopting greener practices.

Based on our research at the Greenwich tourist centre, there is a group of individuals, including both paid employees and volunteers, who contribute to waste management and the overall maintenance of environmental sustainability. This collective effort is in line with the country's goal of ensuring a safe environment.

The legal factor is an important determinant of

the KATO project's progress and success. Each borough or locality is subject to specific legal rules and regulations. Therefore, obtaining permission from the relevant legal authorities is necessary before initiating any project. For example, permission from the London Port Authority is required for hosting events or functions that involve utilizing the river as an attraction. Additionally, permissions from other entities such as the local council and governing bodies are also necessary for event location and other factors.