Traveling to UK
The United Kingdom started the Industrial Revolution, and, like most industrialising countries at the time, initially concentrated on heavy industries such as shipbuilding, coal mining, steel production, and textiles. The empire created an overseas market for British products, allowing the United Kingdom to dominate international trade in the 19th century. However, as other nations industrialised and surplus labour from agriculture began to dry up coupled with economic decline after two world wars, the United Kingdom began to lose its economic advantage. As a result, heavy industry declined, by degrees, throughout the 20th century. The British service sector, however, has grown substantially, and now makes up about 73% of GDP.
The service sector of the United Kingdom is dominated by financial services, especially in banking and insurance. Tourism is very important to the British economy. With over 27 million tourists a year, the United Kingdom is ranked as the sixth major tourist destination in the world. Civil and defence aircraft production is led by the United Kingdom's largest aerospace firm, BAE Systems, and the continental European firm EADS, the owners of Airbus. Rolls-Royce holds a major share of the global aerospace engines market. The chemical and pharmaceutical industry is also strong in the UK, with the world's second and sixth largest pharmaceutical firms being based in the UK. |
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