As reported yesterday (14 October), Visit Britain will not be among the 29 non governmental quasi-autonomous organisations that will be culled.
In a report leaked last month, Visit Britain's future was labelled as 'still to be decided', prompting industry speculation.
UK Inbound cautioned against the UK compromising its ability to market itself effectively.
Rance said: "Whilst we must accept that there is some inevitability of cuts in funding for Visit Britain, in line with the cuts across all sectors. It is proven that for every pound spent on marketing Britain it delivers an immediate and compounded return to the UK economy.
"Every pound clawed back from marketing will impact on spending by overseas visitors, tax revenue from air passenger duty, VAT and jobs. Visitors’ choice of destination is not a given and we must preserve our positioning and ability to sell internationally through working constructively to ensure sustained growth for inbound tourism and the UK economy."
She added that competition for inbound tourism is fierce and the UK is lagging behind other countries.