Global tourism industry collapses: UN World Tourism Agency

The United Nations World Tourism Organization recently revealed, that international tourism fell by eight per cent in the first quarter of 2009. Share

World recession easing, sluggish recovery in sight, says IMF

The world is starting to pull out of its first recession since World War II, said the International Monetary Fund in its latest report released Wednesday. According to the latest report, the global economy was already stabilizing, the financial crisis...

EU unemployment hits 21 million in April: Eurostat

3.1 million people have lost their job since April of 2008 Share

Swine flu worsens already dire global economic crisis

Many officials fear that the outbreak could be on the verge of a global pandemic Share

Spain’s hotel industry suffers decline

Spain’s second most important industry, the tourism industry suffered a 12 per cent Share

More businesses for sale than ever

As the global crisis affects countries around the world, more and more business owners are throwing in the towel and turning to selling their business. Share

Sol Melia sees 70 per cent drop in profits

Sol Meliá announced results today for the 2008 financial year which reflect the negative impact the global economic crisis is having on the travel industry Share

Tourism Predictions 2009

Stormy weather ahead for the Travel and Tourism industry? What everyone in the tourism industry is asking themselves right about now is: How will tourism in 2009 be affected by the global economic crisis? Share

Spain enters first recession in 15 years

Spain has officially joined the list of nations in recession. Spanish gross domestic product contracted 1.1 percent Share

Spain’s Santander settles $1.8 billion to Madoff Victims

Banco Santander, the largest bank in Spain has offered to pay private banking clients 1.38 billion euros ($1.8 billion dollars) for money lost in the alleged Ponzi scheme of Bernard Madoff. Share