Tourism GDP woes for France, Turkey, Brazil this yearAugust 22, 2016 - 16:36 AMT PanARMENIAN.Net - Travel and tourism will contribute less than previously forecast to the economies of France, Turkey and Brazil this year, hit by attacks, political and economic turmoil, though globally the sector is resilient, the World Travel and Tourism Council said, according to Reuters. Brazil hosted the Olympic Games this year but its travel and tourism sector has suffered under a political crisis, its worst recession since the 1930s, and the Zika virus. The sector's contribution to Brazil's gross domestic product (GDP) is expected to shrink by 1.6 percent this year, against a previous forecast for a drop of 0.9 percent, the WTTC said. Islamist militant attacks in Paris, Brussels and Nice have resulted in lower demand for travel to Europe. In France, the travel and tourism sector's contribution to GDP will grow 1.1 percent this year, down from a previous forecast of 2.9 percent. "The Paris incident did have an impact because it's the first point of entry to Europe for a lot of Asian and North American travelers," David Scowsill, president of the WTTC told Reuters. The number of foreign tourists fell sharply in France in the second quarter of the year, official data showed on Friday. In France, the sector contributed 80.4 billion euros (69.36 billion pounds)or 3.7 percent of total GDP, in 2015. A series of militant bombings in Turkey and a failed coup have also deterred tourists, and the sector's contribution to GDP there will shrink by 3.2 percent this year, sharply lower than a previously forecast drop of 0.2 percent. Overall, however, the global travel and tourism sector is expected to grow by 3.1 percent in 2016, faster than predicted global GDP growth of 2.3 percent, driven by increasing numbers of travelers from Asian countries, especially China and India. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Kazakh Foreign Minister arrives in Armenia Kazakh Foreign Minister Murat Nurtleu on Monday, March 18 arrived in Armenia for a two-day trip. Aliyev touts “good chances” for normalizing ties with Armenia Azerbaijani President Ilham Aliyev has declared that there are “good chances” for normalizing relations with Armenia. Top Armenian, Indian defense officials discuss cooperation The discussions primarily focused on enhancing cooperation in the defence sector between Armenia and India. IDBank unveils three sad stories about fraudsters IDBank has unveiled three scenarios of card fraud that have been happening more and more often in Armenia. |