Articles tagged “recession”

Las Vegas Pegs Tourism Turnaround on Foreign Visitors, New Megaprojects

Richard Velotta, Las Vegas Sun

Las Vegas is wooing international visitors who spend more and stay longer than Americans as well as adopting to a new younger set of customers that prefer clubs over casinos.

Greek prime minister tells Greeks to put on a happy face for summer tourists

Helena Smith, The Guardian

Locals indeed have reason to accommodate foreigners with an influx of arrivals this summer season expected to push tourism’s GDP contribution to almost 20 percent.

One fourth of Spain’s tourism workers lost jobs due to the recession

It’s a lethal combination of the country’s largest job creators cutting costs and small local shops shutting down which has led to such significant losses in the Spain’s most important employment sector.

Portugal unloads state airport operator to French concessions company for $4.07 billion

Henrique Almeida, Bloomberg

With the sale of ANA, Portugal has exceeded its goal of raising 5.5 billion euro to repair debts, which could be one reason why it rejected the only bid that came in for state-owned airline TAPA last week.

Ayurvedic tourism is a saving grace in the difficult days ahead for Kerala, India

Kerala’s steady stream of European tourists has thinned down to a trickle due to economic pressures at home, although (like in many Asian nations) the wealthy or ill still fill rooms for health and medical amenities.

Spanish hoteliers gather to gripe about pessimistic predictions for next year

The ailing hotel industry is a victim of Spain’s economic recession, which is prompting the government to impose taxes that actually hinder the growth of tourism, its greatest commodity.

The U.S. travel industry will fall alongside the economy should it head off the “fiscal cliff”

Spending on business travel will initially drop by $20 billion if the U.S. enters a recession, but could bounce back from lower interest rates and reduced deficits over the long run.

Hoteliers are wary of investing in Europe’s opaque hotel market

Few hotel transactions have transpired in recent quarters leaving investors unconfident when it comes to determining valuations, but one expert believes a boost in optimism is all the market needs to get going.

Cruise ships designed for a recession will hit the water this spring

These space-efficient ships, featuring multi-purpose rooms and flexible dining and show schedules, were designed post-2008 once cruise lines realized they'd have to offer the same services and save more on fuel.