jump to navigation

Worst performance for tourism

Posted August 21, 2009 , trackback
  • Clues To Caribbean's Earliest Inhabitants Discovered
  • Four Seasons In Great Exuma, Bahamas purchased by Sandals
  • Caribbean suffers crippling impact of the global recession
  • Investments pour into St. Kitts despite global economic downturn
  • Ferry service soon to be a choice for five Southern Caribbean destinations
  • Attracting Chinese tourists the Jamaican way!
  • Tropical Storm Ana watches canceled by Caribbean governments
  • Once upon a fam trip to Bimini, Bahamas ?

Aug 21, 2009

Mexico’s economy had its worst performance on record in the second quarter, hard hit by falling exports and the swine flu outbreak, according to a official statistics.

Gross Domestic Product (GDP) shrunk 10.3 percent between April and June, compared with the same period in 2008, INEGI national statistics institute said in a statement.

Mexico appeared to be heading for its worst year since the so-called 1994 “Tequila Crisis,” when a sharp devaluation of the peso led to a seven percent year-on-year fall in GDP.

Latin America’s second largest economy went into recession in the first quarter, when GDP dropped 8.2 percent compared with the previous year.

INEGI blamed the latest decline on poor figures in the industrial and services sectors, which are closely tied to the US and have felt the full force of the economic crisis.

The economy also took a sharp blow from the outbreak of swine flu in April and May, which paralyzed many sectors, including tourism, the country’s third-largest source of legal foreign income.

Despite signs of mild recovery for Mexico and the United States, prospects for sustained improvement were still unclear.

Consulting group Bursametrica predicted Mexico’s GDP would fall 6.5 percent in 2009, with negative growth slowing down at the end of the year.

Similar posts:
  • Caribbean suffers crippling impact of the global recession
    • Investments pour into St. Kitts despite global economic downturn Ferry service soon to be a choice for five Southern Caribbean destinations Attracting Chinese tourists the Jamaican way! Tropical Storm Ana watches canceled by Caribbean governments Once upon a fam trip to Bimini, Bahamas ? Lesbians save the world, one Caribbean cruise at a time Going to the Bahamas? Don't forget the
  • UNWTO: Support tourism, support your economy
    • Greening the global economy through sustainable tourism Mid-east tourism numbers down take a double-digit dive Slowdown in tourism growth reflects current uncertainties Support tourism, support your economy Weathering the storm of global recession: the challenge for destination management Key events mark UNWTO agenda for the remainder of the year Finding silver linings around dark economic clouds Africa trumps others in tourism growth
  • Iceland becomes “touristsland”
    • Iceland – get the idea Full-blown recession and economic meltdown make Iceland more accessible for tourists Favorable exchange rate: Now a tourist attraction for Iceland Tourists, hunters in quest for Iceland's whales Tourists flock to crisis-stricken Iceland Iceland’s tourist industry condemns whaling Dollar goes a long way on winter trip to Iceland Iceland on sale By
  • Solomon Islands welcomes increase in tourists
    • Solomon Airlines moves forward in Australia Solomon Islands prime minister wants more tourists Solomon Islands: Small but not terrible during rough economic times Solomon Islands authorities receive bomb detection training Air Niugini and Solomon Airlines settle dispute and ink new code-sharing deal New airline plans amphibian flights Masked man holds up tourist bus near airport Aussie airline enters Solomon Islands market
  • Hilton plans big growth in Caribbean
    • Hilton Hotels Corp. will quadruple its presence in the Caribbean and Latin America with 150 new hotels over the next five years, according to Steve Goldman, president of global development and real estate. Hilton also has launched a new development structure, made up of six dedicated staff, to lead the efforts in its portfolio expansion

Comments»

no comments yet - be the first?