Word: tourister
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Dates: during 1970-1979
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Ever since Moses led the children of Israel out of the house of bondage, traffic between Egypt and the Promised Land has been relatively intense. It has been curbed during 30 years of hostilities, but one fruit of a Middle East peace agreement would be a surge in the tourist trade...
...action. Israel's Egged Bus Cooperative is preparing a Tel Aviv-Cairo trip for $6 one way. El Al hopes to start regular air service between the two cities. Shipping operators are planning a car-ferry service between Haifa or Ashdod and Port Said. To speed these plans, Israeli tourist officials have been trying to confer with their Egyptian counterparts at various international meetings...
Egypt's hotel shortage may cause a squeeze, but construction is now under way by many companies, including Hilton, Intercontinental and Marriott. On both sides of the Sinai, tourist officials foresee a bonanza as international travelers rush to visit both countries in a single trip. Says Fuad Shady, an official of the Nile Hilton: "We have the greatest tourist package in the world?the Holy Land combined with the world of the Pharaohs?and a great year-round climate...
Some of the most attractive handicraft objects are to be found at small stores off the tourist track: lacquered woven bamboo handbags, hand-painted nesting boxes in all shapes, ceramic poudriers that could be used as cigarette boxes, silken parasols, cloisonne bangles. Many of these eyecatching, easily stowed artifacts are sold in the U.S. for ten times the going price in China...
BANKS. They execute most of the orders for companies and also trade on their own account. An American tourist exchanges $100 for marks at a bank in Frankfurt; the bank can hold the dollars or sell them for other currencies, as it chooses. More important, a French cooperative, for example, deposits in Credit Lyonnais $1 million received from U.S. importers for Bordeaux wine; the bank can sell those dollars for other currencies if it wishes. Banks have a cold-blooded view of the potentialities. Says Jean Bourg, head of the currency department at Credit Lyonnais: "We take advantage of small...