Global financial crisis negatively affects tourism in Yemen
Source: BI-ME and Yemen News Agency , Author: BI-ME staff
Posted: Tue February 24, 2009 12:00 am

YEMEN. Yemen's Tourism Ministry said on Tuesday that the global financial crisis had a negative impact on economic and social role of tourism in Yemen, which reflected the decline of the number of tourists coming to Yemen and the cancellation of hotel bookings.

In its report issued recently, the Ministry said the impact of the crisis included a decline in cash proceeds of foreign currencies and the demobilisation of some employees working in the tourism and hotel sectors.

The report pointed to the decrease of the number of tourist investment projects in 2008 to 12 projects in comparative 27 projects carried out in 2007.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: October 29, 2014
UAE. Total wealth in the GCC stood at US$ 1.7 tillion in 2014, up 4.75% from 2013; Total wealth in Saudi Arabia and UAE grew by 5%; Global household wealth up 8.3% to US$263 trillion, driven by the US and Europe, according to Credit Suisse Research Institute.
date:Posted: October 29, 2014
UAE. Significant increase in inflows of private capital into UAE in 2014; UAE seen as hub between Africa and Asia; Political stability remains a major factor driving flows; UAE clear winner in the region, as other GCC countries see net outflows of private capital.
date:Posted: October 28, 2014
INTERNATIONAL. Foreign policy is what a president wishes would happen; foreign affairs are what actually happen; the problem that Obama has, which has crippled his foreign policy, is that his principles have not been defined with enough rigor to provide definitive guidance in a crisis.
UAE. Total wealth in the GCC stood at US$ 1.7 tillion in 2014, up 4.75% from 2013; Total wealth in Saudi Arabia and UAE grew by 5%; Global household wealth up 8.3% to US$263 trillion, driven by the US and Europe, according to Credit Suisse Research Institute.
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