General Travel News
Global Economic Crisis Impacts Hospitality Sector
Industry experts addressing delegates at the Arabian Hotels Investment Conference 2009 said the hospitality sector has been deeply affected by the global financial crises. They said there are signs of improvement but it is far from over. Deutsche Bank CEO for the Middle East and North Africa, Dr. Henri Azzam said it “could be deeper and longer than many of us anticipated.” Deloitte’s Global Managing Partner for Hospitality, Martin Russ, said Sars and the Gulf War look like blips compared to the effects of the global economic downturn.
However, while speaking about regional trends in the real estate market, Global CEO at Jones Lang Lasalle Hotel noted the Middle East is one of the few regions where positive economic growth is forecast for 2009. The International Monetary Fund forecast 2.5% growth for the Middle East in its April Global Economic Update.
More General Travel News
Latest Travel News
Featured Sights To See
Children’s Science Museum-Planet Discovery
Beirut, Lebanon
Planet Discovery is a children’s science museum in Beirut Souks in the heart of Beirut. Children of all ages can discover the secrets of life and the surrounding world. The exhibits stimulate their curiosity and desire for learning. The museum holds interactive experiments, exhibitions, performances and workshops, and awareness competitions. It welcomes handicapped and visually impaired children t...
Burj Khalifa
Dubai, United Arab Emirates
The Burj Kalifa is the tallest manmade structure on Earth, and is a must see for anyone visiting Dubai. Quite literally – it’s hard to miss. The $1.5 billion tower, part of the larger $20 billion Downtown Dubai Project, was completed in December 2009 after six years of construction. It stands an astounding 828m tall, more than 200m taller than its closest rival, with 163 habitabl...
Fisherman’s Bastion
Budapest, Hungary
The Fisherman’s Bastion is a medieval looking stronghold that offers impressive views of the city, fitting as it was built as a viewing platform in 1905. The name comes from a medieval guild of fishermen who were responsible for defending that part of the wall. The seven white turrets represent the Magyar tribes that first entered the Carpathian Basin in the late 9th century. In front of the basti...
Sainte-Chapelle
Paris, France
Located in the heart of Paris along the Ile de la Cite, the Sainte-Chapelle is a magnificent example of Gothic architecture. Construction started sometime between 1239 and 1243, and it was consecrated on April 26th, 1248. Sainte-Chapelle was connected to the royal palace and housed the relic collection (including Jesus’ crown of thorns) of French King Louis IX, later beatified Saint Louis. ...