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SEOUL, Korea - Three out of 10 South Korean hotels and other tourism-related businesses said they could face a slump this year due to the global economic slowdown and the local currency's ascent again
Airbus SAS and Boeing Co., the world’s two biggest planemakers, expect a demand slump to continue for at least two more years as airlines pare growth following a record drop in air travel.
The JW Marriott and Ritz-Carlton hotels that share a downtown building will open in coming weeks amid one of the worst slumps in years for the hospitality business.
HONOLULU - Hawaii is facing its worst recession since becoming a state 50 years ago, dragged down by its reliance on a single industry.
Thomas Cook Group Plc and British Airways Plc slid in London trading after executives at both companies said the global recession may cripple tourism demand for two years.
Premium air travel slumped further in November as global trade slowed and business confidence waned, adding to carrier woes, the International Air Transport Association said.