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...According to Reuters, "Japan, China and South Korea have finalized details of an emergency $120 billion liquidity fund for 13 Asian nations." In the event of a financial crisis in one of the counties, this fund would be available to provide assistance...
...country, saw the number of international visitors drop by more than 7%, and its foreign-tourism revenue shrink by more than 15%. In Spain, year-on-year arrivals dropped by 16% in February - the country's sharpest decline in years. And in the tropical islands of the Caribbean and South Pacific, it's a case of surf, sand and empty beach chairs. In February, French Polynesia reported a 30% drop in year-on-year arrivals - tourist numbers are now at levels last seen in 1996 - while the number of tourists cruising between the islands of Bermuda, Antigua and Barbuda...
Once prohibitively expensive, places such as South Korea and Iceland have been transformed into bargain getaways. The weakening of South Korea's won helped the country attract 7% more tourists last year - a faster rise than any other Asian destination - and so far this year 50% more Japanese tourists have arrived. In Iceland, where the krona has fallen by 40% against the euro and 65% against the dollar since its three major banks collapsed last October, the nation is betting on increased arrivals: this summer IcelandAir will open up new routes to nine cities in Europe and North America...
...developing world, where a job in tourism can mean the difference between poverty and prosperity. In Kenya, a single employee at a hotel or restaurant supports four other people with their salary, according to Gerson Misumi, managing director of Tamarind Management, a restaurant and resort firm in Kenya and South Africa. "There's a chain of services that depend on our industry." Lipman of the UNWTO agrees. "Tourism is a good development agent because poor countries don't have to manufacture it," he says. Developing nations already have their product - nature, culture, tradition - and all that's required to profit...
...they resort to physical punishment because of the inherent problems of India's public education system, specifically, the immense challenge of maintaining control of huge classes of unruly children. "Most children in my school are criminal-minded," says Dr. S.C. Sharma, the principal of a government school in South Delhi. "We have caught them stealing fans from classrooms and even the iron grills from the windows. How do you discipline such kids?" In Sharma's school the teacher-student ratio is 1:63, compared with a recommended ratio of 1:35. (Read "How India's Young and Restless Are Changing...