Word: transport
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Dates: during 2000-2009
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With so many people cutting back on vacations, airlines are also suffering. The International Air Transport Association estimates passenger traffic will contract by 5.7% this year, leaving airlines with losses of $4.7 billion. Carriers such as Cathay Pacific and Qantas have been cutting services, which in turn hurts hotels and restaurants in places such as Sydney, Mumbai and London, to which Cathay Pacific will cut 17 round-trip flights in May alone...
...initial step, Sarkozy has already announced a $47 million project to significantly enhance the Paris region's aging public transport system, which is swamped by 10 million riders every day. In addition to extending existing lines and modernizing rolling stock, the plan calls for the creation of a 90-mile (145-km) automated rail system circling Paris. By connecting the clusters of suburban business centers like La Défense to the residential areas surrounding Paris, the new elevated Métro will allow suburban commuters a direct route to work, instead of their current over-crowded daily slog through...
...same time, one section of the railway will bisect the circular line through the city, providing more direct routes to both Paris airports at either end. That ramped up transport system will also prove vital to meeting another major Paris challenge: keeping its title as the world's leading tourist destination by luring visitors to stay in and around the capital...
...Portzamparc involve building futuristic skyscrapers with huge hanging gardens; creating vast city-center parks, green spaces, and even a new forest with a million carbon-battling trees near Charles de Gaulle airport; and renovating disused banks of the Seine. The river, meanwhile, is to be developed into a major transport link for goods to and from the Channel port of Le Havre - which, thanks to a new high-speed train track, will itself become a virtual suburb of Paris just a one-hour ride away...
...calling for financing offers from an array of public and private actors to be tabled in July. And in October, he will introduce legislation to strip down construction, zoning, and other laws that have traditionally slowed development in the city. Sarkozy also said he wants construction on the transport system to begin by 2012 - just in time for his re-election campaign - and wants much of the work of the Greater Paris plan completed within a decade. (Read: "What's Wrong With a Museum of French History...