Sample Essay
The economic conditions and the structure of a country does not remain the same all the time but it keeps on changing from time to time according to the performance of various sectors that contribute to the overall success and stability of the economy. In terms of economic structure of the UK, the economy was prospering by the year 2000 but since the attack on US (September 11, 2001), there has been decline in the tourism and people travelling to the UK. The war on Afghanistan and Iraq also resulted in traffic loss due to which many airline companies suffered heavy losses. July Bombings (7/7) in the UK left a terrible scar on the airline industry in the UK followed by global economic crises due to which economies of many developed countries like US, UK and many European companies trembled and the after effects are still visible after years since the recession arrived (Davies, 2009, p.107).
Due to Economic recession that has affected global economies, all the sectors and industries have been terribly affected and the airline industry is the one that has seriously come into the fire due to scarce of amount of money being injected into the industry. Economic growth has been very slow since year 2007 when Lehmann Brothers collapsed and due to which businessmen that used to travel to the country have put on hold their plans of any further investment under such economic situations. Due to recession, people all over the world have lost their jobs and their income has been greatly reduced which has led to few people using air transport to reach to their desired destination. In result airline industry all over the world and especially in the UK has taken a serious down turn in terms of their revenue (Davies, 2009, p.106).
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