IMF, World Bank & IFI Round-Up

    World tourism will decline in 2009 with numbers dropping by up to two percent as the economic downturn bites, the UN tourism agency said on Jan. 27. The World Tourism Organization (UNWTO) "expects 2009 international tourism to be in a range of zero to two percent decline," a statement released by the agency's Madrid headquarters said. And an UNWTO spokesman said the sector may only recover in four years' time. The collapse of financial markets, sharp increases in commodity and oil prices and volatile exchange rate fluctuations combined to force a one percent decline in international travel in the six months from July, a trend that is expected to continue in 2009.

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