VisitBritain is to review its operations in light of the reduction applied by the Department for Culture, Media and Sport, which Osborne said would reduce its departmental resource budget to £1.1bn by 2015.
The current year’s grant in aid for VisitBritain is £28.8m. This will fall to £26.5m in 2011/12 and £21.2m in 2014/15.
Rodrigues said: "This government understands the value VisitBritain brings to Britain’s tourism industry, but this is tough love. VisitBritain will respond to the settlement by further cutting overheads and reducing its physical network overseas to retain as much money as possible for our global marketing effort."
VisitEngland will have its funding cut by 34% over four years, with next year's budget set at £9.2m.
The BBC will also share the pain after it agreed a new six-year settlement freezing its licence fee at £145.50 until 2016/17.
The Government is to save around £340m per year by 2014/15 by transferring the responsibility for funding the BBC World Service and part-funding Welsh channel S4C to the corporation.
"This deal helps almost every family and is equivalent to a 16% saving in the BBC budget over the period, similar to the savings in other major cultural institutions," Osborne said.
The BBC will contribute to the £530m the Government will spend over the next four years to bring super-fast broadband to rural parts of the country.
The spending review will also reduce the resource budget of the Department for Business, Innovation and Skills by 25% by 2015.
While most of the saving will be achieved by cutting higher and further education funding, some will be achieved by cancelling the Train to Gain programme, which helps businesses improve the skills of their employees.
However, the government will increase its spending on adult apprenticeships by £250m a year, which it said would provide up to an additional 75,000 apprenticeship places every year by 2015.
The Federation of Small Businesses welcomed the measure, in addition to the £530m directed from the government and the BBC to put in place superfast broadband pilot.
But the FSB said the missing link in the government's deficit programme is the need to create growth – increasing the tax base, creating more businesses and incentivising small firms to grow and innovate.
Introducing his speech with the words "Today's the day when Britain steps back from the brink", Osborne went on to lambast Britain's banks and the previous Government.
He announced that legislation introducing a permanent levy on banks would be published tomorrow.
He said the best estimate for the number of public service positions that would be shed over the next four years was 490,000, the figure provided by the independent Office for Budget Responsibility.
Commenting on the Comprehensive Spending Review, Tim Lefroy, chief executive of the Advertising Association, said: "Chapter 1 is fixing the public finance problem. Chapter 2 is growth and that’s where marketing and advertising comes in."
"We drive competition and innovation, in all markets. Government has set out its stall on the Big Society – which is about giving people more choice and control in their lives. Advertising IS choice and policy makers can benefit from the knowledge and expertise vested in this sector.
"We are also working hard with Government to find industry-led solutions to important concerns such as public health. There is no magic bullet there fully to offset cuts in public expenditure but advertisers, agencies and media owners are working hard in a renewed spirit of partnership to work out where their skills and the trust and consumer access provided by many well-loved brands built by advertising, can be better turned to social advantage.
"It’s a new game but the industry is rising well to the challenge."
Kay Williamson, managing director of healthcare PR agency Gravitas Public Relations, said: "Now we know the scale of the Comprehensive Spending Review, companies reliant on the public sector can start to plan ahead. The period of uncertainty is over at long last."
She added: "Despite the doom and gloom, the downward pressure on costs in the public, sector, not least the NHS, presents opportunities for those which can help it deliver new efficiencies. That means companies need to consider their brand positioning carefully, and possibly rethink their communications strategies, to convey their ability to achieve more with less. There will always be winners and losers."