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Question 8C
Examine the impact of two of the following on the development of footloose industries or financial services or mass tourism in a developed economy that you have stud... show full transcript
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Physical factors such as geographical location and climate have a significant impact on the development of footloose industries.
For instance, the UK has a mild climate and good transportation networks, which are essential for these industries. The accessibility to major markets and resources allows for efficient operations.
Additionally, the presence of natural attractions and beautiful landscapes contributes to mass tourism, drawing visitors to well-known sites such as the Lake District.
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Human factors, including labor availability, skills, and education, play a crucial role in the development of financial services in the UK.
The UK benefits from a highly skilled workforce with expertise in finance and technology, which attracts multinational corporations to establish operations. As a result, the financial services sector flourishes, contributing significantly to the economy.
Moreover, a large number of tourists are drawn to the extensive cultural offerings in cities like London, further enhancing the mass tourism sector.
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