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



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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: May 24, 2013
INTERNATIONAL. A currency war is different from any other kind of conventional war in that the object is to kill oneself. The nation that succeeds in inflicting the most damage on its own citizens wins the war. The only real way to win is not to play.
date:Posted: May 23, 2013
UAE. Stock market indices racing ahead but GDP figures do not support the euphoria and commodity outflows fuel the rally; Is there too much liquidity in the banking system?
date:Posted: May 23, 2013
UAE. While new orders continued to rise sharply, the rate of increase eased to the slowest in a year. Meanwhile, employment levels rose at the fastest pace in two years.
UAE. "There is a substantial amount of debt that is coming due in the next few years, and it will be important to manage pro-actively that process. Information and communication with potential market participants will be a key part of this."



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