Word: tourism
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...Analysts say the casino is too important for the economic diversification of Singapore, which is overwhelmingly dependent on electronics exports and trans-shipping, for it to collapse. The Singapore Tourism Board may step in either with an infusion of cash or an agreement to assume a sizable chunk of the troubled casino operator's debt. "We are working closely and are in dialogue with Marina Bay Sands [Las Vegas Sands' Singapore subsidiary] to facilitate the completion of the project," says Margaret Teo, Assistant CEO of the Singapore Tourism Board. She declined to provide further financial details...
Nobody is calling it a bust--not yet, anyway. Small to midsize builders like Ahmed are still operating, and 70,000 visitors attended Dubai's Cityscape property show recently, where projects worth some $180 billion were announced. Yet Dubai is vulnerable. As the gulf's business, transportation and tourism hub, it is more entwined with the global economy than many of its neighbors. And Dubai never enjoyed the profits from oil and natural gas that enabled sister emirate Abu Dhabi to amass a vast financial cushion...
...less than $65 per bbl. since July, rendering regional investors increasingly cautious as they dial down their expectations of untold wealth. And a global recession is likely to tighten the belts of the foreign investors and vacationers who have driven demand for Dubai's real estate and tourism developments...
...luxury holidays. The Maldives lie southeast of India, a jumble of nearly 20,000 idyllic islands and azure lagoons nestled in coral atolls (a word for reef formations which came to English, fittingly, from Dhivehi, the local Maldivian tongue). Gayoom, 71, is chiefly responsible for building up the lucrative tourism sector - which has fast become the country's leading industry, ahead of its traditional fisheries. It has made Maldivians - at least statistically - the most affluent people in South Asia, and the country host to waves of Hollywood celebrities who pay thousands of dollars for the chance to spend a night...
...full support" for the man who had been a thorn in his side for over a decade. After spending a lifetime warring against Gayoom's dictatorship, Nasheed and his party know they, too, must be graceful in victory. The global financial crisis has sparked fears of a downturn in tourism, while Nasheed must also tend to a budding housing shortage and a staggering drug epidemic: by some estimates, 1 out of every 3 Maldivian youth is a drug addict. "We are not interested in revenge," says the MDP's Zaki. "Now is the time to look to our future...