FINANCIAL NEWS

USD96b lost due to Arab Spring

05 Mar 2012

(MENAFN) The Arab Tourism Organization’s president, Bandar Al-Fuhaid, said that since the beginning of the Arab Spring, countries that were hit by the political unrest have lost USD96 billion, reported Arab News.

Al-Fuhaid added that 18 percent of the losses were in the tourism sector.

On the other hand, he said that the unrest was affecting the decision making process in the organization, as its role has become difficult since tourism is intertwined with security, and the organization can’t promote tourism in countries that are unstable.

It is worth noting that the Arab Tourism Organization is implementing its programs as much as possible, according to Al-Fuhaid, in order to overcome challenges facing the region’s tourism sector.

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