Word: tourists
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Dates: during 1960-1969
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Because it puts so many dollars into foreign hands in the form of foreign aid, military aid, tourist spending, investment and loans. Last year all these added up to almost $10 billion. Result: despite its healthy $7.2 billion surplus in foreign trade, the U.S. ran a foreign-payments deficit of about $2.65 billion or more...
...offered U.S. industry low-cost labor and generous tax incentives; today the factories of more than 50 major U.S. companies are spread over the island. He brought in the hotelmen who turned Puerto Rico into the Caribbean's richest tourist market, with 500,000 visitors spending $100 million last year. In 1952, Muñoz won U.S. approval for a unique "commonwealth" status, combining many advantages of statehood (U.S. protection and citizenship) with those of a possession (no federal taxes). All of this has combined to give Puerto Rico an annual per-capita income of $830, highest in Latin...
...year-old Thanksgiving Day parade - a two-mile panoply of celebrities, bands, six-story-tall balloons and pneumatic majorettes -is yearly watched by a million New Yorkers and a TV audience of 60 million. For visitors to New York, its Herald Square store is as much of a tourist attraction as the Empire State Building...
...company, will be healthier the more it diversifies-in fact, only 25% of its total income, he thinks, should derive from TV and feature movies. The new look of Universal City reflects this. MCA is not only in the film business, it is also in the tourist business. Wasserman reasons that when people come to Hollywood they first want to see a film studio, then they want to go to Disneyland. So he is giving them a Disneyland of a film studio. He is spending $50 million on tourist facilities alone, including a projected 1,800-room "hotel...
...measure of austerity is the inescapable price of a crash development scheme, the government took the drastic step of banning the slaughter and sale of meat three days out of each week. It's back to corn and beans for the Egyptians on Sundays, Tuesdays and Wednesdays, though tourist hotels will still be allowed to serve meat daily. Violators could get up to one year in jail. To ease the shortage, the government has also set aside $90 million in precious foreign exchange to import Russian frozen fish and American chicken and canned meats...