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The volcanic ash cloud that is shutting down air traffic over Europe is also seriously affecting Israeli airlines and other companies in the aviation industry.
Peru’s government will help repair the privately owned rail line that takes tourists to the Machu Picchu ruins in a bid to limit economic losses for the country that could reach $800 million.
The fabled Inca site of Machu Picchu will be closed to tourists for at least three weeks – and shut off from all but the hardiest of visitors for almost two months – as Peruvian authorities assess
Angola’s state-owned airline, TAAG, is losing $5 million a month because the European Union banned it from flying in its airspace, the Angola Press Agency said, citing company spokesman Rui Carreira
BEIRUT - Lebanon lost nearly $3 billion in revenue due to the sharp drop in the number of tourists in 2007, Tourism Minister Joe Sarkis said on Thursday. "We were expecting 1.6 million visitors in 2006 and the same number in 2007 and this would have generated gross revenue of nearly $3 billion a year," Sarkis told The Daily Star.