Tuesday, March 8, 2011

Tourism Industry in Southern Europe Benefits From Unrest

New York Times
March 8, 2011

As political turmoil continues to spread across North Africa and other parts of the Arab world, countries in Southern Europe are drawing more visitors and witnessing a rebound in tourism.

That recovery is particularly welcome for Spain, Portugal and Greece, three of the European countries whose economies are most dependent on tourism but have also suffered most since the onset of the world financial crisis. In Greece, the travel sector was also hit last year by strikes that crippled transportation and other labor protests against austerity measures that the government introduced in return for a €110 billion, or $153 billion, international bailout.

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