Tourism most likely to be affected by global economic crisis

source: Standay Standard
by Sunday Standard Reporter
01.03.2009 9:34:21 A

The Minister of Environment, Wildlife and Tourism, Kitso Mokaila, said in parliament Friday that the main driver of the tourism sector will not remain unaffected by the global economic crisis that is currently affecting main areas of the economy, especially mining.

“The current indications are that major cancellations, though expected, are not normally immediate due to the long lead time in bookings, a situation which may change as the year progresses,” he said.
He indicated that certain target markets “have indeed started to cancel bookings previously made”, saying “for example, some of the tourism sub-sector operators have recorded a decline in bookings held, compared to the same period last year”.

His reasoning is in line with what most economic observers have [continue reading]

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