Political Pressures Through Tourism

The Lebanese Minister of Tourism, Joe Sarkis ,has expected loses by billions of dollars as a result of the warnings by the Gulf countries to their citizens not to go to Lebanon, pointing out that the tourist sector brought to Lebanon about $1,5- 2 billion last year, which less than the revenues gained before and estimated by $4-4.5 billion. Sarkis, who tried hard not to refer to the American warship opposite to the Lebanese coast, or to refer to its role in making the political situation in the region as a whole more tense, said implicitly that these countries have their own excuses because of instability in Lebanon, without referring explicitly to the reason.
As observers say it is not unlikely that the step taken by the Gulf countries comes within the pressures exercised against the Lebanese opposition, we find on the other side that the Jordanian officials say that the Israeli military operation against Gaza Strip will not affect the Jordanian tourist sector.
For his part, chairman of the Society of Travel and Tourism Agents, Haidar Ziadat said the instability in Lebanon will have negative results on the Jordanian tourist sector. So are we making the perpetrator innocent, aoristically speaking ??

A Capital of $2 billion and 15 Banks Working In Syria

Reports have said that the number of the working banks in Syria is 15 banks, 6 of them are governmental banks, adding that the total capital of these banks is estimated at $2,8 billion with more than 12% of the contribution of the private sector. It is worth mentioning that the Syrian Central Bank is considering granting licenses to new private banks.

$380 billion , The Total Costs of the Tourists Projects in The GCC Countries

Chairman of the Union of Chambers of the GCC Countries has revealed that the available statements in the field of the Gulf tourist sector point out that the GCC countries have allocated about $ 380 billion for tourist projects till 2018, whearas the Gulf tourists are spending about $ 27 billion annually abroad.

Small Indexes

 Tunisia has risen the prices of fuel by 4,1% to combat the increasing deficit in the balance of production resulted in the big increase of oil prices in the international markets.
 the Australian government has agreed on receiving 15000 foreign workers to combat the big shortage of manpower in the construction field in Australia.

Companies Indexes

 A Saudi company has signed a number of agreement with international companies for building a chemical factory in al-Riyadh with a total cost estimated at 120 million Riyals.
 Chairman of the General Directors and the Head of the Executive Body of the Kuwaiti Trade Bank , Jamal al-Mutawe said that the bank is waiting the approval of the central bank for turning the bank into an Islamic bank.


 Reports have said that the Iranian Space and Aviation Industries Establishment has signed a contract with the Russian United Aircraft Corporation for buying 100 passengers planes during the coming ten years, following a day of the decision of the Security Council to impose new sanctions on Iran because of its nuclear program.

Indicators is a daily economic watch newsletter about the Near East, issued by New Orient News agency in Beirut, Lebanon. It is available on Voltairenet.org in Arabic, English and Spanish. Also worth a read is Tendencies, the daily Near East political watch newsletter, available in Arabic, English, French, German, and Spanish languages.