Log Date 08_27_99

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zfind "(topic @ {tropical storms storm hurricanes typhoons damage})"

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<DOC>
<DOCNO>FT923-6038</DOCNO>
<PROFILE>_AN-CH1BVABKFT</PROFILE>
<DATE>9208
27
</DATE>
<HEADLINE> FT  27 AUG 92 / Hurricane batters southern US but lets
 insurers off lightly </HEADLINE>
<BYLINE>    By MARTIN DICKSON and ROBERT P
ESTON </BYLINE>
<DATELINE>    NEW YORK, LONDON </DATELINE>
<TEXT>
HURRICANE 
Andrew, claimed to be the costliest natural disaster in US
history, yesterda
y smashed its way through the state of Louisiana,
inflicting severe damage o
n rural communities but narrowly missing the
low-lying city of New Orleans.

The storm, which brought havoc to southern Florida on Monday and then headed

north-west across the Gulf of Mexico, had made landfall late on Tuesday
nig
ht some 60 miles south-west of the city in the agricultural Cajun
country.
A
lthough the damage from the hurricane's landfall in Florida on Monday was
mu
ch greater than initially esti mated, insurers' losses there are likely to
t
otal less than Dollars 1bn, well below earlier expectations, a senior
member
 of Lloyd's insurance market said yesterday.
In Louisiana, the hurricane lan
ded with wind speeds of about 120 miles per
hour and caused severe damage in
 small coastal centres such as Morgan City,
Franklin and New Iberia. Associa
ted tornadoes devastated Laplace, 20 miles
west of New Orleans.
Then, howeve
r, Andrew lost force as it moved north over land. By yesterday
afternoon, it
 had been down-graded to tropical storm, in that its sustained
windspeeds we
re below 75 mph.
Initial reports said at least one person had died, 75 been 
injured and
thousands made homeless along the Louisiana coast, after 14 conf
irmed deaths
in Florida and three in the Bahamas.
The storm caused little da
mage to Louisiana's important oil-refining
industry, although some plants ha
d to halt production when electricity was
cut.
The Lloyd's member, in close 
contact with leading insurers in Florida, said
that damage to insured proper
ty was remarkably small. More than Dollars 15bn
of damage may have been caus
ed in all, but was mostly to uninsured property,
he said.
In north Miami, da
mage is minimal. Worst affected is one hotel, whose
basement was flooded. Mo
st of the destruction occurred in a 10-mile band
across Homestead, 25 miles 
to the south of Miami, where a typical house
sells for Dollars 100,000 to Do
llars 150,000. US insurers will face a bill
in respect of such properties, b
ut Lloyd's exposure there is minimal.
Many destroyed power lines are thought
 to be uninsured, as are trees and
shrubs uprooted across a wide area. Only 
one big hotel in that area has been
badly damaged, a Holiday Inn.
Across Flo
rida, some 2m people remained without electric ity yesterday and
health offi
cials were warning the public to boil or chemically treat all
water.
Hurrica
ne Hugo, which devastated much of South Carolina in 1989, cost the
insurance
 industry some Dollars 4.2bn. Further uninsured losses may have
raised the t
otal to Dollars 6bn-Dollars 10bn.
</TEXT>
<PUB>The Financial Times </PUB>
<P
AGE> London Page 6 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT923-6038</DOCNO>
<PROFILE>_AN-CH1BVABKFT</PROFILE>
<DATE>9208
27
</DATE>
<HEADLINE> FT  27 AUG 92 / Hurricane batters southern US but lets
 insurers off lightly </HEADLINE>
<BYLINE>    By MARTIN DICKSON and ROBERT P
ESTON </BYLINE>
<DATELINE>    NEW YORK, LONDON </DATELINE>
<TEXT>
HURRICANE 
Andrew, claimed to be the costliest natural disaster in US
history, yesterda
y smashed its way through the state of Louisiana,
inflicting severe damage o
n rural communities but narrowly missing the
low-lying city of New Orleans.

The storm, which brought havoc to southern Florida on Monday and then headed

north-west across the Gulf of Mexico, had made landfall late on Tuesday
nig
ht some 60 miles south-west of the city in the agricultural Cajun
country.
A
lthough the damage from the hurricane's landfall in Florida on Monday was
mu
ch greater than initially esti mated, insurers' losses there are likely to
t
otal less than Dollars 1bn, well below earlier expectations, a senior
member
 of Lloyd's insurance market said yesterday.
In Louisiana, the hurricane lan
ded with wind speeds of about 120 miles per
hour and caused severe damage in
 small coastal centres such as Morgan City,
Franklin and New Iberia. Associa
ted tornadoes devastated Laplace, 20 miles
west of New Orleans.
Then, howeve
r, Andrew lost force as it moved north over land. By yesterday
afternoon, it
 had been down-graded to tropical storm, in that its sustained
windspeeds we
re below 75 mph.
Initial reports said at least one person had died, 75 been 
injured and
thousands made homeless along the Louisiana coast, after 14 conf
irmed deaths
in Florida and three in the Bahamas.
The storm caused little da
mage to Louisiana's important oil-refining
industry, although some plants ha
d to halt production when electricity was
cut.
The Lloyd's member, in close 
contact with leading insurers in Florida, said
that damage to insured proper
ty was remarkably small. More than Dollars 15bn
of damage may have been caus
ed in all, but was mostly to uninsured property,
he said.
In north Miami, da
mage is minimal. Worst affected is one hotel, whose
basement was flooded. Mo
st of the destruction occurred in a 10-mile band
across Homestead, 25 miles 
to the south of Miami, where a typical house
sells for Dollars 100,000 to Do
llars 150,000. US insurers will face a bill
in respect of such properties, b
ut Lloyd's exposure there is minimal.
Many destroyed power lines are thought
 to be uninsured, as are trees and
shrubs uprooted across a wide area. Only 
one big hotel in that area has been
badly damaged, a Holiday Inn.
Across Flo
rida, some 2m people remained without electric ity yesterday and
health offi
cials were warning the public to boil or chemically treat all
water.
Hurrica
ne Hugo, which devastated much of South Carolina in 1989, cost the
insurance
 industry some Dollars 4.2bn. Further uninsured losses may have
raised the t
otal to Dollars 6bn-Dollars 10bn.
</TEXT>
<PUB>The Financial Times </PUB>
<P
AGE> London Page 6 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT944-12299</DOCNO>
<PROFILE>_AN-EKBD9AC3FT</PROFILE>
<DATE>941
102
</DATE>
<HEADLINE> FT  02 NOV 94 / Business and the Environment: Insurer
s in a storm </HEADLINE>
<BYLINE>    By NANCY DUNNE </BYLINE>
<TEXT>
Fifteen
 catastrophic hurricanes, floods and storms cost worldwide insurers
more tha
n Dollars 80bn (Pounds 50bn) since a period of weather extremes set
in five 
years ago, according to an article in the latest World Watch
Institute's jou
rnal.
In 1992, Hurricane Andrew struck Florida and set a new record for dama
ges at
Dollars 25bn. The Mississippi floods in 1993 cost Dollars 12bn. Europ
e was
hit by four severe windstorms in 1990 which accumulated damages of Dol
lars
10bn. Japan was struck in 1991 by Typhoon Mireille with nearly Dollars 
5bn
in damages.
As the damages mount, insurers have begun to take seriously 
the global
warming theory advanced by many scientists. The fear is that the 
warming,
spurred by 'greenhouse gases', produced by fossil fuels, could seri
ously
disrupt the world's atmospheric and oceanic systems.
Lack of agreement
 in the scientific community has made the insurers wary.
But their interest 
is being applauded by environmentalists who see the
insurers as a potential 
counterweight to the power of the oil and coal
interests in the global warmi
ng debate.
Christopher Flavin, author of the World Watch article, is urging 
the
insurers to enter the struggle over climate policy. 'Few industries are

capable of doing battle with the likes of the fossil fuel lobby. But the
ins
urance industry is,' he says. 'On a worldwide basis the two are of
roughly c
omparable size and potential political clout.'
The insurance industry could,
 for example, push government to tighten energy
efficiency rules for new bui
ldings. It could actively lobby for a stronger
global climate pact.
It could
 also use its investment capacity. 'If they (companies) were to dump
some of
 their stocks in oil and coal companies or actively invest some of
their fun
ds in new, less carbon-intensive energy technologies (forming a
sort of clim
ate venture fund), insurance companies could spur the
development of a less 
threatening energy system,' says Flavin.
Unless the industry begins to use i
ts clout in the struggle over climate
policy, its future 'is likely to be st
ormy indeed', said Flavin.
</TEXT>
<XX>
Countries:-
</XX>
<CN>XAZ  World.
</
CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Casualty Insurance.

    P951  Environmental Quality.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment 
& Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 18 </PA
GE>
</DOC>

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<DOC>
<DOCNO>FT923-6038</DOCNO>
<PROFILE>_AN-CH1BVABKFT</PROFILE>
<DATE>9208
27
</DATE>
<HEADLINE> FT  27 AUG 92 / Hurricane batters southern US but lets
 insurers off lightly </HEADLINE>
<BYLINE>    By MARTIN DICKSON and ROBERT P
ESTON </BYLINE>
<DATELINE>    NEW YORK, LONDON </DATELINE>
<TEXT>
HURRICANE 
Andrew, claimed to be the costliest natural disaster in US
history, yesterda
y smashed its way through the state of Louisiana,
inflicting severe damage o
n rural communities but narrowly missing the
low-lying city of New Orleans.

The storm, which brought havoc to southern Florida on Monday and then headed

north-west across the Gulf of Mexico, had made landfall late on Tuesday
nig
ht some 60 miles south-west of the city in the agricultural Cajun
country.
A
lthough the damage from the hurricane's landfall in Florida on Monday was
mu
ch greater than initially esti mated, insurers' losses there are likely to
t
otal less than Dollars 1bn, well below earlier expectations, a senior
member
 of Lloyd's insurance market said yesterday.
In Louisiana, the hurricane lan
ded with wind speeds of about 120 miles per
hour and caused severe damage in
 small coastal centres such as Morgan City,
Franklin and New Iberia. Associa
ted tornadoes devastated Laplace, 20 miles
west of New Orleans.
Then, howeve
r, Andrew lost force as it moved north over land. By yesterday
afternoon, it
 had been down-graded to tropical storm, in that its sustained
windspeeds we
re below 75 mph.
Initial reports said at least one person had died, 75 been 
injured and
thousands made homeless along the Louisiana coast, after 14 conf
irmed deaths
in Florida and three in the Bahamas.
The storm caused little da
mage to Louisiana's important oil-refining
industry, although some plants ha
d to halt production when electricity was
cut.
The Lloyd's member, in close 
contact with leading insurers in Florida, said
that damage to insured proper
ty was remarkably small. More than Dollars 15bn
of damage may have been caus
ed in all, but was mostly to uninsured property,
he said.
In north Miami, da
mage is minimal. Worst affected is one hotel, whose
basement was flooded. Mo
st of the destruction occurred in a 10-mile band
across Homestead, 25 miles 
to the south of Miami, where a typical house
sells for Dollars 100,000 to Do
llars 150,000. US insurers will face a bill
in respect of such properties, b
ut Lloyd's exposure there is minimal.
Many destroyed power lines are thought
 to be uninsured, as are trees and
shrubs uprooted across a wide area. Only 
one big hotel in that area has been
badly damaged, a Holiday Inn.
Across Flo
rida, some 2m people remained without electric ity yesterday and
health offi
cials were warning the public to boil or chemically treat all
water.
Hurrica
ne Hugo, which devastated much of South Carolina in 1989, cost the
insurance
 industry some Dollars 4.2bn. Further uninsured losses may have
raised the t
otal to Dollars 6bn-Dollars 10bn.
</TEXT>
<PUB>The Financial Times </PUB>
<P
AGE> London Page 6 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT944-12299</DOCNO>
<PROFILE>_AN-EKBD9AC3FT</PROFILE>
<DATE>941
102
</DATE>
<HEADLINE> FT  02 NOV 94 / Business and the Environment: Insurer
s in a storm </HEADLINE>
<BYLINE>    By NANCY DUNNE </BYLINE>
<TEXT>
Fifteen
 catastrophic hurricanes, floods and storms cost worldwide insurers
more tha
n Dollars 80bn (Pounds 50bn) since a period of weather extremes set
in five 
years ago, according to an article in the latest World Watch
Institute's jou
rnal.
In 1992, Hurricane Andrew struck Florida and set a new record for dama
ges at
Dollars 25bn. The Mississippi floods in 1993 cost Dollars 12bn. Europ
e was
hit by four severe windstorms in 1990 which accumulated damages of Dol
lars
10bn. Japan was struck in 1991 by Typhoon Mireille with nearly Dollars 
5bn
in damages.
As the damages mount, insurers have begun to take seriously 
the global
warming theory advanced by many scientists. The fear is that the 
warming,
spurred by 'greenhouse gases', produced by fossil fuels, could seri
ously
disrupt the world's atmospheric and oceanic systems.
Lack of agreement
 in the scientific community has made the insurers wary.
But their interest 
is being applauded by environmentalists who see the
insurers as a potential 
counterweight to the power of the oil and coal
interests in the global warmi
ng debate.
Christopher Flavin, author of the World Watch article, is urging 
the
insurers to enter the struggle over climate policy. 'Few industries are

capable of doing battle with the likes of the fossil fuel lobby. But the
ins
urance industry is,' he says. 'On a worldwide basis the two are of
roughly c
omparable size and potential political clout.'
The insurance industry could,
 for example, push government to tighten energy
efficiency rules for new bui
ldings. It could actively lobby for a stronger
global climate pact.
It could
 also use its investment capacity. 'If they (companies) were to dump
some of
 their stocks in oil and coal companies or actively invest some of
their fun
ds in new, less carbon-intensive energy technologies (forming a
sort of clim
ate venture fund), insurance companies could spur the
development of a less 
threatening energy system,' says Flavin.
Unless the industry begins to use i
ts clout in the struggle over climate
policy, its future 'is likely to be st
ormy indeed', said Flavin.
</TEXT>
<XX>
Countries:-
</XX>
<CN>XAZ  World.
</
CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Casualty Insurance.

    P951  Environmental Quality.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment 
& Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 18 </PA
GE>
</DOC>

============= Transaction # 10 ==============================================
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<DOC>
<DOCNO>FT931-3325</DOCNO>
<PROFILE>_AN-DCSB4AHPFT</PROFILE>
<DATE>9303
16
</DATE>
<HEADLINE> FT  16 MAR 93 / Winter storms kill over 100 in eastern
 US </HEADLINE>
<BYLINE>    By NIKKI TAIT and LAURIE MORSE </BYLINE>
<DATELI
NE>    NEW YORK, CHICAGO </DATELINE>
<TEXT>
BUSINESSES, commuters and home-o
wners along the eastern US seaboard
struggled to return to normality yesterd
ay after a winter storm left a trail
of devastation in its wake and cost up 
to 115 lives.
In Florida, hard-hit by Hurricane Andrew last August, the stor
m system
spawned about 50 tornadoes; in the New Jersey, Connecticut and New 
York
state region around 300,000 homes were left without electricity and up 
to
17ins of snow were recorded.
In New York hundreds of motorists spent yest
erday morning digging parked
cars out from mountainous snow-drifts, many cre
ated by the weekend's
snow-ploughs.
East Coast airports were crowded with pe
ople trying to get away after being
stranded through the weekend, when the n
ation's air transport system
suffered one of its worst-ever disruptions.
Maj
or motorways were reopening yesterday, but many smaller roads remained
block
ed, with some travellers still snowbound.
Yesterday afternoon, A M Best, the
 US rating agency which specialises in the
insurance sector, estimated that 
the storm produced about Dollars 800m in
insured damages. However, some comp
anies said it was too soon to attach a
precise number to claims.
'We just do
n't know at this stage,' said Allstate, the large Illinois-based
insurer. Th
e American Insurance Association, whose property-claims division
provides in
dustry-wide estimates of catastrophe losses, also said it was
only just begi
nning to receive reports from member firms.
A M Best suggested the bulk of d
amage would come in the southeastern states
and central Florida. It estimate
d that the storm which hit the Northeast in
December was probably more damag
ing to that region. The December storm
caused more widespread flooding and c
oastal damage, and resulted in around
Dollars 650m of insured claims.
The la
test disaster comes after a run of heavy catastrophe losses for big US
prope
rty-casualty insurers and will exasperate the financial pressures on
the ind
ustry. The bomb blast under New York's World Trade Centre complex
this month
 is estimated to have caused over Dollars 1bn in insured damages,
while Hurr
icane Andrew produced a record-breaking Dollars 16bn-worth of
claims.
In Flo
rida, high winds battered grapefruit and orange crops, and frosts on
Sunday 
and yesterday caused scattered damage to the fragile flowers that
form next 
year's harvest, according to Mr Bobby McKown, of Florida Citrus
Mutual, the 
state's largest growers' organisation. The damage was 'minor' in
comparison 
to storms and freezes that devastated Florida citrus in the
1980s, he said.

Storms lift sugar price, Commodities Page
</TEXT>
<XX>
Countries:-
</XX>
<CN
>USZ  United States of America.
</CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire
, Marine, and Casualty Insurance.
    P99   Nonclassifiable Establishments.

</IN>
<XX>
Types:-
</XX>
<TP>RES  Natural resources.
    INS  Insurance.
</T
P>
<PUB>The Financial Times </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 11 ==============================================
Transaction #:     11       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT944-12299</DOCNO>
<PROFILE>_AN-EKBD9AC3FT</PROFILE>
<DATE>941
102
</DATE>
<HEADLINE> FT  02 NOV 94 / Business and the Environment: Insurer
s in a storm </HEADLINE>
<BYLINE>    By NANCY DUNNE </BYLINE>
<TEXT>
Fifteen
 catastrophic hurricanes, floods and storms cost worldwide insurers
more tha
n Dollars 80bn (Pounds 50bn) since a period of weather extremes set
in five 
years ago, according to an article in the latest World Watch
Institute's jou
rnal.
In 1992, Hurricane Andrew struck Florida and set a new record for dama
ges at
Dollars 25bn. The Mississippi floods in 1993 cost Dollars 12bn. Europ
e was
hit by four severe windstorms in 1990 which accumulated damages of Dol
lars
10bn. Japan was struck in 1991 by Typhoon Mireille with nearly Dollars 
5bn
in damages.
As the damages mount, insurers have begun to take seriously 
the global
warming theory advanced by many scientists. The fear is that the 
warming,
spurred by 'greenhouse gases', produced by fossil fuels, could seri
ously
disrupt the world's atmospheric and oceanic systems.
Lack of agreement
 in the scientific community has made the insurers wary.
But their interest 
is being applauded by environmentalists who see the
insurers as a potential 
counterweight to the power of the oil and coal
interests in the global warmi
ng debate.
Christopher Flavin, author of the World Watch article, is urging 
the
insurers to enter the struggle over climate policy. 'Few industries are

capable of doing battle with the likes of the fossil fuel lobby. But the
ins
urance industry is,' he says. 'On a worldwide basis the two are of
roughly c
omparable size and potential political clout.'
The insurance industry could,
 for example, push government to tighten energy
efficiency rules for new bui
ldings. It could actively lobby for a stronger
global climate pact.
It could
 also use its investment capacity. 'If they (companies) were to dump
some of
 their stocks in oil and coal companies or actively invest some of
their fun
ds in new, less carbon-intensive energy technologies (forming a
sort of clim
ate venture fund), insurance companies could spur the
development of a less 
threatening energy system,' says Flavin.
Unless the industry begins to use i
ts clout in the struggle over climate
policy, its future 'is likely to be st
ormy indeed', said Flavin.
</TEXT>
<XX>
Countries:-
</XX>
<CN>XAZ  World.
</
CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Casualty Insurance.

    P951  Environmental Quality.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment 
& Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 18 </PA
GE>
</DOC>

============= Transaction # 12 ==============================================
Transaction #:     12       Transaction Code:  19 (Record Selected)        

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<DOC>
<DOCNO>FT944-12299</DOCNO>
<PROFILE>_AN-EKBD9AC3FT</PROFILE>
<DATE>941
102
</DATE>
<HEADLINE> FT  02 NOV 94 / Business and the Environment: Insurer
s in a storm </HEADLINE>
<BYLINE>    By NANCY DUNNE </BYLINE>
<TEXT>
Fifteen
 catastrophic hurricanes, floods and storms cost worldwide insurers
more tha
n Dollars 80bn (Pounds 50bn) since a period of weather extremes set
in five 
years ago, according to an article in the latest World Watch
Institute's jou
rnal.
In 1992, Hurricane Andrew struck Florida and set a new record for dama
ges at
Dollars 25bn. The Mississippi floods in 1993 cost Dollars 12bn. Europ
e was
hit by four severe windstorms in 1990 which accumulated damages of Dol
lars
10bn. Japan was struck in 1991 by Typhoon Mireille with nearly Dollars 
5bn
in damages.
As the damages mount, insurers have begun to take seriously 
the global
warming theory advanced by many scientists. The fear is that the 
warming,
spurred by 'greenhouse gases', produced by fossil fuels, could seri
ously
disrupt the world's atmospheric and oceanic systems.
Lack of agreement
 in the scientific community has made the insurers wary.
But their interest 
is being applauded by environmentalists who see the
insurers as a potential 
counterweight to the power of the oil and coal
interests in the global warmi
ng debate.
Christopher Flavin, author of the World Watch article, is urging 
the
insurers to enter the struggle over climate policy. 'Few industries are

capable of doing battle with the likes of the fossil fuel lobby. But the
ins
urance industry is,' he says. 'On a worldwide basis the two are of
roughly c
omparable size and potential political clout.'
The insurance industry could,
 for example, push government to tighten energy
efficiency rules for new bui
ldings. It could actively lobby for a stronger
global climate pact.
It could
 also use its investment capacity. 'If they (companies) were to dump
some of
 their stocks in oil and coal companies or actively invest some of
their fun
ds in new, less carbon-intensive energy technologies (forming a
sort of clim
ate venture fund), insurance companies could spur the
development of a less 
threatening energy system,' says Flavin.
Unless the industry begins to use i
ts clout in the struggle over climate
policy, its future 'is likely to be st
ormy indeed', said Flavin.
</TEXT>
<XX>
Countries:-
</XX>
<CN>XAZ  World.
</
CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Casualty Insurance.

    P951  Environmental Quality.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment 
& Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 18 </PA
GE>
</DOC>

============= Transaction # 13 ==============================================
Transaction #:     13       Transaction Code:  22 (Record(s) Saved)        

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT923-6038</DOCNO>
<PROFILE>_AN-CH1BVABKFT</PROFILE>
<DATE>9208
27
</DATE>
<HEADLINE> FT  27 AUG 92 / Hurricane batters southern US but lets
 insurers off lightly </HEADLINE>
<BYLINE>    By MARTIN DICKSON and ROBERT P
ESTON </BYLINE>
<DATELINE>    NEW YORK, LONDON </DATELINE>
<TEXT>
HURRICANE 
Andrew, claimed to be the costliest natural disaster in US
history, yesterda
y smashed its way through the state of Louisiana,
inflicting severe damage o
n rural communities but narrowly missing the
low-lying city of New Orleans.

The storm, which brought havoc to southern Florida on Monday and then headed

north-west across the Gulf of Mexico, had made landfall late on Tuesday
nig
ht some 60 miles south-west of the city in the agricultural Cajun
country.
A
lthough the damage from the hurricane's landfall in Florida on Monday was
mu
ch greater than initially esti mated, insurers' losses there are likely to
t
otal less than Dollars 1bn, well below earlier expectations, a senior
member
 of Lloyd's insurance market said yesterday.
In Louisiana, the hurricane lan
ded with wind speeds of about 120 miles per
hour and caused severe damage in
 small coastal centres such as Morgan City,
Franklin and New Iberia. Associa
ted tornadoes devastated Laplace, 20 miles
west of New Orleans.
Then, howeve
r, Andrew lost force as it moved north over land. By yesterday
afternoon, it
 had been down-graded to tropical storm, in that its sustained
windspeeds we
re below 75 mph.
Initial reports said at least one person had died, 75 been 
injured and
thousands made homeless along the Louisiana coast, after 14 conf
irmed deaths
in Florida and three in the Bahamas.
The storm caused little da
mage to Louisiana's important oil-refining
industry, although some plants ha
d to halt production when electricity was
cut.
The Lloyd's member, in close 
contact with leading insurers in Florida, said
that damage to insured proper
ty was remarkably small. More than Dollars 15bn
of damage may have been caus
ed in all, but was mostly to uninsured property,
he said.
In north Miami, da
mage is minimal. Worst affected is one hotel, whose
basement was flooded. Mo
st of the destruction occurred in a 10-mile band
across Homestead, 25 miles 
to the south of Miami, where a typical house
sells for Dollars 100,000 to Do
llars 150,000. US insurers will face a bill
in respect of such properties, b
ut Lloyd's exposure there is minimal.
Many destroyed power lines are thought
 to be uninsured, as are trees and
shrubs uprooted across a wide area. Only 
one big hotel in that area has been
badly damaged, a Holiday Inn.
Across Flo
rida, some 2m people remained without electric ity yesterday and
health offi
cials were warning the public to boil or chemically treat all
water.
Hurrica
ne Hugo, which devastated much of South Carolina in 1989, cost the
insurance
 industry some Dollars 4.2bn. Further uninsured losses may have
raised the t
otal to Dollars 6bn-Dollars 10bn.
</TEXT>
<PUB>The Financial Times </PUB>
<P
AGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 14 ==============================================
Transaction #:     14       Transaction Code:  22 (Record(s) Saved)        

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT944-12299</DOCNO>
<PROFILE>_AN-EKBD9AC3FT</PROFILE>
<DATE>941
102
</DATE>
<HEADLINE> FT  02 NOV 94 / Business and the Environment: Insurer
s in a storm </HEADLINE>
<BYLINE>    By NANCY DUNNE </BYLINE>
<TEXT>
Fifteen
 catastrophic hurricanes, floods and storms cost worldwide insurers
more tha
n Dollars 80bn (Pounds 50bn) since a period of weather extremes set
in five 
years ago, according to an article in the latest World Watch
Institute's jou
rnal.
In 1992, Hurricane Andrew struck Florida and set a new record for dama
ges at
Dollars 25bn. The Mississippi floods in 1993 cost Dollars 12bn. Europ
e was
hit by four severe windstorms in 1990 which accumulated damages of Dol
lars
10bn. Japan was struck in 1991 by Typhoon Mireille with nearly Dollars 
5bn
in damages.
As the damages mount, insurers have begun to take seriously 
the global
warming theory advanced by many scientists. The fear is that the 
warming,
spurred by 'greenhouse gases', produced by fossil fuels, could seri
ously
disrupt the world's atmospheric and oceanic systems.
Lack of agreement
 in the scientific community has made the insurers wary.
But their interest 
is being applauded by environmentalists who see the
insurers as a potential 
counterweight to the power of the oil and coal
interests in the global warmi
ng debate.
Christopher Flavin, author of the World Watch article, is urging 
the
insurers to enter the struggle over climate policy. 'Few industries are

capable of doing battle with the likes of the fossil fuel lobby. But the
ins
urance industry is,' he says. 'On a worldwide basis the two are of
roughly c
omparable size and potential political clout.'
The insurance industry could,
 for example, push government to tighten energy
efficiency rules for new bui
ldings. It could actively lobby for a stronger
global climate pact.
It could
 also use its investment capacity. 'If they (companies) were to dump
some of
 their stocks in oil and coal companies or actively invest some of
their fun
ds in new, less carbon-intensive energy technologies (forming a
sort of clim
ate venture fund), insurance companies could spur the
development of a less 
threatening energy system,' says Flavin.
Unless the industry begins to use i
ts clout in the struggle over climate
policy, its future 'is likely to be st
ormy indeed', said Flavin.
</TEXT>
<XX>
Countries:-
</XX>
<CN>XAZ  World.
</
CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Casualty Insurance.

    P951  Environmental Quality.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment 
& Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 18 </PA
GE>
</DOC>

============= Transaction # 15 ==============================================
Transaction #:     15       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT931-3325</DOCNO>
<PROFILE>_AN-DCSB4AHPFT</PROFILE>
<DATE>9303
16
</DATE>
<HEADLINE> FT  16 MAR 93 / Winter storms kill over 100 in eastern
 US </HEADLINE>
<BYLINE>    By NIKKI TAIT and LAURIE MORSE </BYLINE>
<DATELI
NE>    NEW YORK, CHICAGO </DATELINE>
<TEXT>
BUSINESSES, commuters and home-o
wners along the eastern US seaboard
struggled to return to normality yesterd
ay after a winter storm left a trail
of devastation in its wake and cost up 
to 115 lives.
In Florida, hard-hit by Hurricane Andrew last August, the stor
m system
spawned about 50 tornadoes; in the New Jersey, Connecticut and New 
York
state region around 300,000 homes were left without electricity and up 
to
17ins of snow were recorded.
In New York hundreds of motorists spent yest
erday morning digging parked
cars out from mountainous snow-drifts, many cre
ated by the weekend's
snow-ploughs.
East Coast airports were crowded with pe
ople trying to get away after being
stranded through the weekend, when the n
ation's air transport system
suffered one of its worst-ever disruptions.
Maj
or motorways were reopening yesterday, but many smaller roads remained
block
ed, with some travellers still snowbound.
Yesterday afternoon, A M Best, the
 US rating agency which specialises in the
insurance sector, estimated that 
the storm produced about Dollars 800m in
insured damages. However, some comp
anies said it was too soon to attach a
precise number to claims.
'We just do
n't know at this stage,' said Allstate, the large Illinois-based
insurer. Th
e American Insurance Association, whose property-claims division
provides in
dustry-wide estimates of catastrophe losses, also said it was
only just begi
nning to receive reports from member firms.
A M Best suggested the bulk of d
amage would come in the southeastern states
and central Florida. It estimate
d that the storm which hit the Northeast in
December was probably more damag
ing to that region. The December storm
caused more widespread flooding and c
oastal damage, and resulted in around
Dollars 650m of insured claims.
The la
test disaster comes after a run of heavy catastrophe losses for big US
prope
rty-casualty insurers and will exasperate the financial pressures on
the ind
ustry. The bomb blast under New York's World Trade Centre complex
this month
 is estimated to have caused over Dollars 1bn in insured damages,
while Hurr
icane Andrew produced a record-breaking Dollars 16bn-worth of
claims.
In Flo
rida, high winds battered grapefruit and orange crops, and frosts on
Sunday 
and yesterday caused scattered damage to the fragile flowers that
form next 
year's harvest, according to Mr Bobby McKown, of Florida Citrus
Mutual, the 
state's largest growers' organisation. The damage was 'minor' in
comparison 
to storms and freezes that devastated Florida citrus in the
1980s, he said.

Storms lift sugar price, Commodities Page
</TEXT>
<XX>
Countries:-
</XX>
<CN
>USZ  United States of America.
</CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire
, Marine, and Casualty Insurance.
    P99   Nonclassifiable Establishments.

</IN>
<XX>
Types:-
</XX>
<TP>RES  Natural resources.
    INS  Insurance.
</T
P>
<PUB>The Financial Times </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 16 ==============================================
Transaction #:     16       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT931-7520</DOCNO>
<PROFILE>_AN-DBXCKACQFT</PROFILE>
<DATE>9302
24
</DATE>
<HEADLINE> FT  24 FEB 93 / Business and the Environment: Weather 
wise - Typhoons, hurricanes and the threat of global warming are pushing up 
insurance rates </HEADLINE>
<BYLINE>    By RICHARD LAPPER and BRONWEN MADDOX
 </BYLINE>
<TEXT>
'WE GET zapped every five minutes,' says Richard Keeling, 
underwriter with
Lloyd's syndicate 362, reviewing the impact of recent hurri
canes, gales and
typhoons on the London insurance market.
Recent storms, eac
h more damaging than the last, culminated in last year's
hurricane Andrew, w
hich devastated parts of Louisiana and Florida and caused
losses estimated t
o be at least Dollars 16bn and perhaps as much as Dollars
20bn (Pounds 14bn)
, the United States's biggest-ever insured loss.
That has triggered tough ba
rgaining in the London insurance market and one
of the hardest 'renewal' sea
sons, as reinsurers seek to impose big rate
increases.
Most significantly, i
n a move that could lead to higher insurance rates for
many years, insurers 
are also beginning to ask whether recent storms are a
sign of global warming
 or other long-term shifts in weather patterns. The
question has led to an u
nlikely convergence with environmental pressure
groups such as Greenpeace, w
hich last month published a long report
welcoming insurers' alertness to the
 risk.
In the recent round of negotiations, brokers buying cover for US clie
nts -
who have avoided heavy increases in recent years - have found the goin
g
toughest.
However, across the board, direct insurers are now paying more f
or their
reinsurance. Keeling says that since October 1987, reinsurance rate
s have
increased by 650 per cent for European insurers, 450 per cent for US 
buyers
and by 1,000 per cent for Japanese companies.
The increases partly re
flect reinsurers' efforts to restore profitability
after heavy losses from w
eather and from other disasters such as the 1988
Piper Alpha oil rig explosi
on and the Exxon Valdez oil spill the following
year.
Both Swiss Re and Muni
ch Re, the world's two biggest reinsurers, have seen
profits dented and have
 been forced to draw deep into their reserves to meet
claims, especially fro
m the European storms of 1990. Many smaller reinsurers
have withdrawn from t
he market. More than a third of Lloyd's Names and
nearly half the syndicates
 have left the market since 1989. As competition
for business has dwindled, 
bigger players have found it easier to force
through rate increases.
Underwr
iters are also now beginning to take a deeper look at the risk of
storm dama
ge. They recognise that denser population in potentially exposed
regions, su
ch as the south-eastern coast of the US, is partly responsible
for the rise 
in losses. 'Windstorm' cover has also become a more common
element of househ
olders' policies over the last two decades in most
countries.
And increasing
ly many are questioning whether the recent increases in land
and sea tempera
tures are leading to greater atmospheric instability and more
frequent and i
ntense winds. Scientists have warned for several years that
gases such as ca
rbon dioxide, emitted from burning fossil fuels, could cause
global warming.

The United Nation's Intergovernmental Panel on Climate Change, set up to
in
vestigate the phenomenon, has suggested the average increase could be
somewh
ere between 1.5'C and 3.5'C over the next 100 years.
However, scientists hav
e emphasised there is still uncertainty about the
processes involved - the m
odels find it hard to take account of clouds,
which could slow down warming.
 They also say it is impossible to conclude
from recent storms and warm summ
ers that climate change is already
happening.
Despite scientific uncertainty
, insurers feel they need to protect
themselves. Walter Kielholz, general ma
nager of Swiss Re, one of the first
insurance companies to question whether 
global warming could be responsible
for worsening weather, agrees that 'the 
statistical data is too short to
conclusively prove that there is a trend'. 
But he adds: 'It might just be a
hiccup but we can't afford to wait for the 
long-term before taking action.'
Research commissioned by Keeling and severa
l other Lloyd's underwriters by
the University of East Anglia's climatology 
department also concludes: 'The
possibility that the trend (of more frequent
 gales in north-western Europe)
is related to global warming cannot be rejec
ted.' Insurers should assume
that 'gale frequencies will remain at the level
 of the 1980s' and could rise
further, the report says.
In Greenpeace's rece
nt study, the pressure group called for insurers to join
the lobby for limit
s on the emission of 'greenhouse gases'. Keeling
acknowledges: 'We have to d
o something constructive but the insurance
industry will never be a lobby. W
e are too diffused.'
Instead, as well as increasing rates insurers have begu
n to toughen the
terms of storm insurance. Kielholz says that since 1990 Swi
ss Re has begun
to isolate the risk of 'windstorm' from other exposures it u
nderwrites.
The group now likes to cover windstorm through an excess of loss
 reinsurance
contract (in which the reinsurer covers a tranche of risk up to
 a pre-set
limit) rather than by covering it alongside other risks as part o
f a
proportional reinsurance deal (in which the reinsurer accepts an agreed

percentage of exposure).
'Reinsurers have become more and more reluctant to 
include windstorm in
proportional property treaties,' says Kielholz.
Reinsur
ers are also urging direct insurers to make policyholders pay the
first port
ion of any loss themselves, as an incentive to protect their
property agains
t storms. Householders would then be more likely to carry out
essential main
tenance and commercial customers to follow building codes more
strictly, the
y argue. During Hurricane Andrew many new buildings, especially
those with s
teel frames and metal casings, proved to be particularly
vulnerable to wind 
damage, according to Swiss Re.
Higher rates and tougher terms are the insura
nce industry's perhaps
unsurprising response to recent storms and the potent
ial threat of global
warming.
The environmental movement has shown itself re
luctant to acknowledge
scientific doubts about climate change, while climato
logists - who might
stress that uncertainty - have few reasons to get involv
ed in debates on
insurance charges. Customers may have to hope the new highe
r rates help
preserve some of the financially weaker groups, and so preserve
 competition
in the industry.
 ---------------------------------------------
--------------------
                   THE COST OF RECENT STORMS
 ---------
--------------------------------------------------------
Aug 1992    US     
            Cyclone Iniki      Dollars  1.4bn
Aug 1992    US                
 Hurricane Andrew   Dollars 20.0bn
Sep 1991    Japan              Typhoon Mi
reille   Dollars  4.8bn
Jul 1990    US                 Colorado storms    Do
llars  1.0bn
Feb 1990    NW Europe          Windstorm Wibke    Dollars  1.3b
n
Feb 1990    NW Europe          Windstorm Vivian   Dollars  3.2bn
Feb 1990 
   NW Europe          Windstorm Herta    Dollars  1.3bn
Jan 1990    NW Europ
e          Windstorm Daria    Dollars  4.6bn
Sep 1989    US                 
Hurricane Hugo     Dollars  5.8bn
Oct 1987    NW Europe          Un-named wi
ndstorm Dollars  2.5bn
 ----------------------------------------------------
-------------
Source: Greenpeace
 ------------------------------------------
-----------------------
</TEXT>
<XX>
Countries:-
</XX>
<CN>GBZ  United Kingd
om, EC.
</CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Casualty I
nsurance.
    P6411 Insurance Agents, Brokers, and Service.
</IN>
<XX>
Types
:-
</XX>
<TP>RES  Natural resources.
    COSTS  Costs & Prices.
    MKTS  Ma
rket data.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 14 </PAG
E>
</DOC>

============= Transaction # 17 ==============================================
Transaction #:     17       Transaction Code:  19 (Record Selected)        

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
                        Old Z39.50 Server ID:   0 (Astro/Math/Stat)        

Usr Interface:   Prob          Time Cmd Sent: 16:00:00
  Rec. Format:  Short      Time Cmd Complete: 15:42:43
Selec. Rec. #:      4

Boolean Indexes Used:

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   0 Title          0 Language   0 X_Author   0 Uniform Title
   0 Subject        0 ISBN       0 X_Title    0 X_Subject
   0 Organization   0 LCCN       0 Topic      0 Host Item
   0 Series         0 ISSN       0 Keyword    0 Conf

Boolean Conjunctions:

   Button 1: and   Button 2: OR    Button 3: or 
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Associated Variable Length Text:

<DOC>
<DOCNO>FT931-7520</DOCNO>
<PROFILE>_AN-DBXCKACQFT</PROFILE>
<DATE>9302
24
</DATE>
<HEADLINE> FT  24 FEB 93 / Business and the Environment: Weather 
wise - Typhoons, hurricanes and the threat of global warming are pushing up 
insurance rates </HEADLINE>
<BYLINE>    By RICHARD LAPPER and BRONWEN MADDOX
 </BYLINE>
<TEXT>
'WE GET zapped every five minutes,' says Richard Keeling, 
underwriter with
Lloyd's syndicate 362, reviewing the impact of recent hurri
canes, gales and
typhoons on the London insurance market.
Recent storms, eac
h more damaging than the last, culminated in last year's
hurricane Andrew, w
hich devastated parts of Louisiana and Florida and caused
losses estimated t
o be at least Dollars 16bn and perhaps as much as Dollars
20bn (Pounds 14bn)
, the United States's biggest-ever insured loss.
That has triggered tough ba
rgaining in the London insurance market and one
of the hardest 'renewal' sea
sons, as reinsurers seek to impose big rate
increases.
Most significantly, i
n a move that could lead to higher insurance rates for
many years, insurers 
are also beginning to ask whether recent storms are a
sign of global warming
 or other long-term shifts in weather patterns. The
question has led to an u
nlikely convergence with environmental pressure
groups such as Greenpeace, w
hich last month published a long report
welcoming insurers' alertness to the
 risk.
In the recent round of negotiations, brokers buying cover for US clie
nts -
who have avoided heavy increases in recent years - have found the goin
g
toughest.
However, across the board, direct insurers are now paying more f
or their
reinsurance. Keeling says that since October 1987, reinsurance rate
s have
increased by 650 per cent for European insurers, 450 per cent for US 
buyers
and by 1,000 per cent for Japanese companies.
The increases partly re
flect reinsurers' efforts to restore profitability
after heavy losses from w
eather and from other disasters such as the 1988
Piper Alpha oil rig explosi
on and the Exxon Valdez oil spill the following
year.
Both Swiss Re and Muni
ch Re, the world's two biggest reinsurers, have seen
profits dented and have
 been forced to draw deep into their reserves to meet
claims, especially fro
m the European storms of 1990. Many smaller reinsurers
have withdrawn from t
he market. More than a third of Lloyd's Names and
nearly half the syndicates
 have left the market since 1989. As competition
for business has dwindled, 
bigger players have found it easier to force
through rate increases.
Underwr
iters are also now beginning to take a deeper look at the risk of
storm dama
ge. They recognise that denser population in potentially exposed
regions, su
ch as the south-eastern coast of the US, is partly responsible
for the rise 
in losses. 'Windstorm' cover has also become a more common
element of househ
olders' policies over the last two decades in most
countries.
And increasing
ly many are questioning whether the recent increases in land
and sea tempera
tures are leading to greater atmospheric instability and more
frequent and i
ntense winds. Scientists have warned for several years that
gases such as ca
rbon dioxide, emitted from burning fossil fuels, could cause
global warming.

The United Nation's Intergovernmental Panel on Climate Change, set up to
in
vestigate the phenomenon, has suggested the average increase could be
somewh
ere between 1.5'C and 3.5'C over the next 100 years.
However, scientists hav
e emphasised there is still uncertainty about the
processes involved - the m
odels find it hard to take account of clouds,
which could slow down warming.
 They also say it is impossible to conclude
from recent storms and warm summ
ers that climate change is already
happening.
Despite scientific uncertainty
, insurers feel they need to protect
themselves. Walter Kielholz, general ma
nager of Swiss Re, one of the first
insurance companies to question whether 
global warming could be responsible
for worsening weather, agrees that 'the 
statistical data is too short to
conclusively prove that there is a trend'. 
But he adds: 'It might just be a
hiccup but we can't afford to wait for the 
long-term before taking action.'
Research commissioned by Keeling and severa
l other Lloyd's underwriters by
the University of East Anglia's climatology 
department also concludes: 'The
possibility that the trend (of more frequent
 gales in north-western Europe)
is related to global warming cannot be rejec
ted.' Insurers should assume
that 'gale frequencies will remain at the level
 of the 1980s' and could rise
further, the report says.
In Greenpeace's rece
nt study, the pressure group called for insurers to join
the lobby for limit
s on the emission of 'greenhouse gases'. Keeling
acknowledges: 'We have to d
o something constructive but the insurance
industry will never be a lobby. W
e are too diffused.'
Instead, as well as increasing rates insurers have begu
n to toughen the
terms of storm insurance. Kielholz says that since 1990 Swi
ss Re has begun
to isolate the risk of 'windstorm' from other exposures it u
nderwrites.
The group now likes to cover windstorm through an excess of loss
 reinsurance
contract (in which the reinsurer covers a tranche of risk up to
 a pre-set
limit) rather than by covering it alongside other risks as part o
f a
proportional reinsurance deal (in which the reinsurer accepts an agreed

percentage of exposure).
'Reinsurers have become more and more reluctant to 
include windstorm in
proportional property treaties,' says Kielholz.
Reinsur
ers are also urging direct insurers to make policyholders pay the
first port
ion of any loss themselves, as an incentive to protect their
property agains
t storms. Householders would then be more likely to carry out
essential main
tenance and commercial customers to follow building codes more
strictly, the
y argue. During Hurricane Andrew many new buildings, especially
those with s
teel frames and metal casings, proved to be particularly
vulnerable to wind 
damage, according to Swiss Re.
Higher rates and tougher terms are the insura
nce industry's perhaps
unsurprising response to recent storms and the potent
ial threat of global
warming.
The environmental movement has shown itself re
luctant to acknowledge
scientific doubts about climate change, while climato
logists - who might
stress that uncertainty - have few reasons to get involv
ed in debates on
insurance charges. Customers may have to hope the new highe
r rates help
preserve some of the financially weaker groups, and so preserve
 competition
in the industry.
 ---------------------------------------------
--------------------
                   THE COST OF RECENT STORMS
 ---------
--------------------------------------------------------
Aug 1992    US     
            Cyclone Iniki      Dollars  1.4bn
Aug 1992    US                
 Hurricane Andrew   Dollars 20.0bn
Sep 1991    Japan              Typhoon Mi
reille   Dollars  4.8bn
Jul 1990    US                 Colorado storms    Do
llars  1.0bn
Feb 1990    NW Europe          Windstorm Wibke    Dollars  1.3b
n
Feb 1990    NW Europe          Windstorm Vivian   Dollars  3.2bn
Feb 1990 
   NW Europe          Windstorm Herta    Dollars  1.3bn
Jan 1990    NW Europ
e          Windstorm Daria    Dollars  4.6bn
Sep 1989    US                 
Hurricane Hugo     Dollars  5.8bn
Oct 1987    NW Europe          Un-named wi
ndstorm Dollars  2.5bn
 ----------------------------------------------------
-------------
Source: Greenpeace
 ------------------------------------------
-----------------------
</TEXT>
<XX>
Countries:-
</XX>
<CN>GBZ  United Kingd
om, EC.
</CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Casualty I
nsurance.
    P6411 Insurance Agents, Brokers, and Service.
</IN>
<XX>
Types
:-
</XX>
<TP>RES  Natural resources.
    COSTS  Costs & Prices.
    MKTS  Ma
rket data.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 14 </PAG
E>
</DOC>

============= Transaction # 18 ==============================================
Transaction #:     18       Transaction Code:  22 (Record(s) Saved)        

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
                        Old Z39.50 Server ID:   0 (Astro/Math/Stat)        

Usr Interface:   Prob          Time Cmd Sent: 16:00:00
  Rec. Format:  Short      Time Cmd Complete: 15:42:44
Selec. Rec. #:      4

Boolean Indexes Used:

   0 Author         0 Date       0 Rectype    0 X_Corp Author    0 Call #
   0 Title          0 Language   0 X_Author   0 Uniform Title
   0 Subject        0 ISBN       0 X_Title    0 X_Subject
   0 Organization   0 LCCN       0 Topic      0 Host Item
   0 Series         0 ISSN       0 Keyword    0 Conf

Boolean Conjunctions:

   Button 1: and   Button 2: OR    Button 3: or 
      Used?: No       Used?: No       Used?: No 

   # Keywords:      0   Error Code:      0
       # Hits:      0    Help Code:      0
  # Displayed:      0      Help ID:      0

Associated Variable Length Text:

<DOC>
<DOCNO>FT931-7520</DOCNO>
<PROFILE>_AN-DBXCKACQFT</PROFILE>
<DATE>9302
24
</DATE>
<HEADLINE> FT  24 FEB 93 / Business and the Environment: Weather 
wise - Typhoons, hurricanes and the threat of global warming are pushing up 
insurance rates </HEADLINE>
<BYLINE>    By RICHARD LAPPER and BRONWEN MADDOX
 </BYLINE>
<TEXT>
'WE GET zapped every five minutes,' says Richard Keeling, 
underwriter with
Lloyd's syndicate 362, reviewing the impact of recent hurri
canes, gales and
typhoons on the London insurance market.
Recent storms, eac
h more damaging than the last, culminated in last year's
hurricane Andrew, w
hich devastated parts of Louisiana and Florida and caused
losses estimated t
o be at least Dollars 16bn and perhaps as much as Dollars
20bn (Pounds 14bn)
, the United States's biggest-ever insured loss.
That has triggered tough ba
rgaining in the London insurance market and one
of the hardest 'renewal' sea
sons, as reinsurers seek to impose big rate
increases.
Most significantly, i
n a move that could lead to higher insurance rates for
many years, insurers 
are also beginning to ask whether recent storms are a
sign of global warming
 or other long-term shifts in weather patterns. The
question has led to an u
nlikely convergence with environmental pressure
groups such as Greenpeace, w
hich last month published a long report
welcoming insurers' alertness to the
 risk.
In the recent round of negotiations, brokers buying cover for US clie
nts -
who have avoided heavy increases in recent years - have found the goin
g
toughest.
However, across the board, direct insurers are now paying more f
or their
reinsurance. Keeling says that since October 1987, reinsurance rate
s have
increased by 650 per cent for European insurers, 450 per cent for US 
buyers
and by 1,000 per cent for Japanese companies.
The increases partly re
flect reinsurers' efforts to restore profitability
after heavy losses from w
eather and from other disasters such as the 1988
Piper Alpha oil rig explosi
on and the Exxon Valdez oil spill the following
year.
Both Swiss Re and Muni
ch Re, the world's two biggest reinsurers, have seen
profits dented and have
 been forced to draw deep into their reserves to meet
claims, especially fro
m the European storms of 1990. Many smaller reinsurers
have withdrawn from t
he market. More than a third of Lloyd's Names and
nearly half the syndicates
 have left the market since 1989. As competition
for business has dwindled, 
bigger players have found it easier to force
through rate increases.
Underwr
iters are also now beginning to take a deeper look at the risk of
storm dama
ge. They recognise that denser population in potentially exposed
regions, su
ch as the south-eastern coast of the US, is partly responsible
for the rise 
in losses. 'Windstorm' cover has also become a more common
element of househ
olders' policies over the last two decades in most
countries.
And increasing
ly many are questioning whether the recent increases in land
and sea tempera
tures are leading to greater atmospheric instability and more
frequent and i
ntense winds. Scientists have warned for several years that
gases such as ca
rbon dioxide, emitted from burning fossil fuels, could cause
global warming.

The United Nation's Intergovernmental Panel on Climate Change, set up to
in
vestigate the phenomenon, has suggested the average increase could be
somewh
ere between 1.5'C and 3.5'C over the next 100 years.
However, scientists hav
e emphasised there is still uncertainty about the
processes involved - the m
odels find it hard to take account of clouds,
which could slow down warming.
 They also say it is impossible to conclude
from recent storms and warm summ
ers that climate change is already
happening.
Despite scientific uncertainty
, insurers feel they need to protect
themselves. Walter Kielholz, general ma
nager of Swiss Re, one of the first
insurance companies to question whether 
global warming could be responsible
for worsening weather, agrees that 'the 
statistical data is too short to
conclusively prove that there is a trend'. 
But he adds: 'It might just be a
hiccup but we can't afford to wait for the 
long-term before taking action.'
Research commissioned by Keeling and severa
l other Lloyd's underwriters by
the University of East Anglia's climatology 
department also concludes: 'The
possibility that the trend (of more frequent
 gales in north-western Europe)
is related to global warming cannot be rejec
ted.' Insurers should assume
that 'gale frequencies will remain at the level
 of the 1980s' and could rise
further, the report says.
In Greenpeace's rece
nt study, the pressure group called for insurers to join
the lobby for limit
s on the emission of 'greenhouse gases'. Keeling
acknowledges: 'We have to d
o something constructive but the insurance
industry will never be a lobby. W
e are too diffused.'
Instead, as well as increasing rates insurers have begu
n to toughen the
terms of storm insurance. Kielholz says that since 1990 Swi
ss Re has begun
to isolate the risk of 'windstorm' from other exposures it u
nderwrites.
The group now likes to cover windstorm through an excess of loss
 reinsurance
contract (in which the reinsurer covers a tranche of risk up to
 a pre-set
limit) rather than by covering it alongside other risks as part o
f a
proportional reinsurance deal (in which the reinsurer accepts an agreed

percentage of exposure).
'Reinsurers have become more and more reluctant to 
include windstorm in
proportional property treaties,' says Kielholz.
Reinsur
ers are also urging direct insurers to make policyholders pay the
first port
ion of any loss themselves, as an incentive to protect their
property agains
t storms. Householders would then be more likely to carry out
essential main
tenance and commercial customers to follow building codes more
strictly, the
y argue. During Hurricane Andrew many new buildings, especially
those with s
teel frames and metal casings, proved to be particularly
vulnerable to wind 
damage, according to Swiss Re.
Higher rates and tougher terms are the insura
nce industry's perhaps
unsurprising response to recent storms and the potent
ial threat of global
warming.
The environmental movement has shown itself re
luctant to acknowledge
scientific doubts about climate change, while climato
logists - who might
stress that uncertainty - have few reasons to get involv
ed in debates on
insurance charges. Customers may have to hope the new highe
r rates help
preserve some of the financially weaker groups, and so preserve
 competition
in the industry.
 ---------------------------------------------
--------------------
                   THE COST OF RECENT STORMS
 ---------
--------------------------------------------------------
Aug 1992    US     
            Cyclone Iniki      Dollars  1.4bn
Aug 1992    US                
 Hurricane Andrew   Dollars 20.0bn
Sep 1991    Japan              Typhoon Mi
reille   Dollars  4.8bn
Jul 1990    US                 Colorado storms    Do
llars  1.0bn
Feb 1990    NW Europe          Windstorm Wibke    Dollars  1.3b
n
Feb 1990    NW Europe          Windstorm Vivian   Dollars  3.2bn
Feb 1990 
   NW Europe          Windstorm Herta    Dollars  1.3bn
Jan 1990    NW Europ
e          Windstorm Daria    Dollars  4.6bn
Sep 1989    US                 
Hurricane Hugo     Dollars  5.8bn
Oct 1987    NW Europe          Un-named wi
ndstorm Dollars  2.5bn
 ----------------------------------------------------
-------------
Source: Greenpeace
 ------------------------------------------
-----------------------
</TEXT>
<XX>
Countries:-
</XX>
<CN>GBZ  United Kingd
om, EC.
</CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Casualty I
nsurance.
    P6411 Insurance Agents, Brokers, and Service.
</IN>
<XX>
Types
:-
</XX>
<TP>RES  Natural resources.
    COSTS  Costs & Prices.
    MKTS  Ma
rket data.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 14 </PAG
E>
</DOC>

============= Transaction # 19 ==============================================
Transaction #:     19       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
                        Old Z39.50 Server ID:   0 (Astro/Math/Stat)        

Usr Interface:   Prob          Time Cmd Sent: 16:00:00
  Rec. Format:  Short      Time Cmd Complete: 15:43:25
Selec. Rec. #:      5

Boolean Indexes Used:

   0 Author         0 Date       0 Rectype    0 X_Corp Author    0 Call #
   0 Title          0 Language   0 X_Author   0 Uniform Title
   0 Subject        0 ISBN       0 X_Title    0 X_Subject
   0 Organization   0 LCCN       0 Topic      0 Host Item
   0 Series         0 ISSN       0 Keyword    0 Conf

Boolean Conjunctions:

   Button 1: and   Button 2: OR    Button 3: or 
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Associated Variable Length Text:

<DOC>
<DOCNO>FT923-6110</DOCNO>
<PROFILE>_AN-CH0BVADPFT</PROFILE>
<DATE>9208
26
</DATE>
<HEADLINE> FT  26 AUG 92 / Hurricane damage put at Dollars 20bn a
s 2m people told to leave homes </HEADLINE>
<BYLINE>    By MARTIN DICKSON an
d NORMA COHEN </BYLINE>
<DATELINE>    NEW YORK, LONDON </DATELINE>
<TEXT>
DA
MAGE CAUSED by Hurricane Andrew could rise to Dollars 20bn, it was
estimated
 yesterday, as one of the costliest US storms this century
threatened a furt
her devastating landfall near the city of New Orleans.
Government officials 
in Louisiana, Mississippi and Texas yesterday advised
or ordered more than 2
m people to evacuate coastal areas.
The hurricane tore through southern Flor
ida early on Monday morning, causing
billions of dollars of property damage 
and at least 12 deaths, and yesterday
was moving north-west across the Gulf 
of Mexico with winds of about 140
miles an hour.
At least three people died 
on Sunday when Hurricane Andrew crossed the
Bahamas.
Ms Kate Hale, director 
of emergency services in Florida's Dade County, which
bore the brunt of the 
storm, estimated that Andrew had already caused
Dollars 15bn to Dollars 20bn
 (Pounds 7.5bn-Pounds 10bn) of damage.
However, insurance industry analysts 
cautioned that it was too early to
assess the costs accurately. The US indus
try's Property Claims Service, the
official compiler of disaster losses, had
 yet to compile a preliminary tally
of the Florida bill.
A hurricane warning
 was in effect yesterday along 470 miles of Gulf coast
from Pascagoula, Miss
issippi, to Galvestone, Texas.
Several forecasting agencies suggested the li
keliest landfall was in central
Louisiana, to the west of New Orleans, possi
bly late last night or this
morning.
New Orleans, with a population of 1.6m,
 is particularly vulnerable because
the city lies below sea level, has the M
ississippi River running through its
centre and a large lake immediately to 
the north.
Much of America's oil refining industry is concentrated along coa
stal Texas
and Louisiana and several refineries were yesterday partially shu
t down.
These included British Petroleum's Belle Chasse plant in Louisiana.

In Florida, Andrew caused greatest havoc in a largely suburban swathe some
1
0-15 miles south of Miami. The town of Homestead, near the centre of the
sto
rm, was largely flattened, including a local air force base.
Miami's city ce
ntre escaped with relatively light damage. More than 24 hours
after the hurr
icane, some 825,000 households and businesses were still
without power.
The 
brunt of insurance claims from the Florida storm will fall on the US
industr
y, and companies with a heavy local exposure include the State Farm
Group an
d the Allstate Insurance unit of Sears Roebuck. These are also the
leading p
roperty/casualty and home insurance groups in Louisiana, together
with Ameri
can International Group.
A spokesman for State Farm Insurance said he believ
ed the company had
roughly 20 per cent of the Florida market. The mutually-o
wned company has no
reinsurance. Its size has made obtaining reinsurance cov
er difficult and its
reserves, at about Dollars 24bn, have made it unnecessa
ry.
According to Balcombe Group, a UK-based claims adjustment firm, other
in
surers with large exposure in the hurricane-hit area are Hartford
Insurance,
 Aetna and Travellers. Travellers said it had flown 50 claims
adjusters in t
o Florida late on Monday and was assessing losses. About 12
per cent of Trav
ellers' home insurance premium income came from Florida last
year, and 4.6 p
er cent of its commercial insurance premiums.
The last serious US hurricane,
 Hugo, which struck South Carolina in 1989,
cost the industry Dollars 4.2bn 
from insured losses, though estimates of the
total damage caused ranged betw
een Dollars 6bn and Dollars 10bn.
</TEXT>
<PUB>The Financial Times </PUB>
<P
AGE> London Page 14 </PAGE>
</DOC>

============= Transaction # 20 ==============================================
Transaction #:     20       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
                        Old Z39.50 Server ID:   0 (Astro/Math/Stat)        

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<DOC>
<DOCNO>FT943-15195</DOCNO>
<PROFILE>_AN-EGKDTACRFT</PROFILE>
<DATE>940
711
</DATE>
<HEADLINE> FT  11 JUL 94 / Business Travel (Update): Taiwan typh
oon </HEADLINE>
<BYLINE>    By DAVID OWEN </BYLINE>
<TEXT>
Typhoon Tim lashe
d eastern Taiwan with strong winds and heavy rain
yesterday, forcing the sus
pension of flights to two offshore islets.
Taiwanese officials said an impor
tant highway in Hualien city was closed
because of landslides set off by the
 torrential downpour.
In the Philippines, the Manila weather bureau said ano
ther tropical storm,
Vanessa, had developed in the South China Sea and was b
ringing strong winds
and heavy rains to the main Philippine island, Luzon.
<
/TEXT>
<XX>
Countries:-
</XX>
<CN>TWZ  Taiwan, Asia.
    PHZ  Philippines, A
sia.
</CN>
<XX>
Industries:-
</XX>
<IN>P9229 Public Order and Safety, NEC.
<
/IN>
<XX>
Types:-
</XX>
<TP>RES  Natural resources.
</TP>
<PUB>The Financial
 Times </PUB>
<PAGE> London Page 14 </PAGE>
</DOC>

============= Transaction # 21 ==============================================
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<DATE>940
711
</DATE>
<HEADLINE> FT  11 JUL 94 / Business Travel (Update): Taiwan typh
oon </HEADLINE>
<BYLINE>    By DAVID OWEN </BYLINE>
<TEXT>
Typhoon Tim lashe
d eastern Taiwan with strong winds and heavy rain
yesterday, forcing the sus
pension of flights to two offshore islets.
Taiwanese officials said an impor
tant highway in Hualien city was closed
because of landslides set off by the
 torrential downpour.
In the Philippines, the Manila weather bureau said ano
ther tropical storm,
Vanessa, had developed in the South China Sea and was b
ringing strong winds
and heavy rains to the main Philippine island, Luzon.
<
/TEXT>
<XX>
Countries:-
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<CN>TWZ  Taiwan, Asia.
    PHZ  Philippines, A
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<
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<XX>
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<PUB>The Financial
 Times </PUB>
<PAGE> London Page 14 </PAGE>
</DOC>

============= Transaction # 22 ==============================================
Transaction #:     22       Transaction Code:  22 (Record(s) Saved)        

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<DATE>940
711
</DATE>
<HEADLINE> FT  11 JUL 94 / Business Travel (Update): Taiwan typh
oon </HEADLINE>
<BYLINE>    By DAVID OWEN </BYLINE>
<TEXT>
Typhoon Tim lashe
d eastern Taiwan with strong winds and heavy rain
yesterday, forcing the sus
pension of flights to two offshore islets.
Taiwanese officials said an impor
tant highway in Hualien city was closed
because of landslides set off by the
 torrential downpour.
In the Philippines, the Manila weather bureau said ano
ther tropical storm,
Vanessa, had developed in the South China Sea and was b
ringing strong winds
and heavy rains to the main Philippine island, Luzon.
<
/TEXT>
<XX>
Countries:-
</XX>
<CN>TWZ  Taiwan, Asia.
    PHZ  Philippines, A
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<XX>
Industries:-
</XX>
<IN>P9229 Public Order and Safety, NEC.
<
/IN>
<XX>
Types:-
</XX>
<TP>RES  Natural resources.
</TP>
<PUB>The Financial
 Times </PUB>
<PAGE> London Page 14 </PAGE>
</DOC>

============= Transaction # 23 ==============================================
Transaction #:     23       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT923-4394</DOCNO>
<PROFILE>_AN-CIGBWADKFT</PROFILE>
<DATE>9209
07
</DATE>
<HEADLINE> FT  07 SEP 92 / Survey of Reinsurance (7): Storm warni
ng for insurers / Examining the rising trend in catastrophe losses </HEADLIN
E>
<BYLINE>    By SIMON REYNOLDS </BYLINE>
<TEXT>
KLAUS CONRAD, a member of 
Munich Re's board of management, advises insurers:
'Beware of a catastrophe 
reinsurer who asks no questions . . . who does not
ask to be paid a fair pri
ce for his goods and services; they may turn out to
be worthless.' This is s
ound advice: many reinsurers who did not ask
questions or a fair price have 
in recent years been hit by the rising trend
in catastrophe losses.
The comp
act but intense Hurricane Andrew, the first big storm of the 1992
Atlantic h
urricane season, is one more example of nature's destructive
potential. In i
ts recent review of 1991 catastrophe losses the large
international reinsure
r Swiss Re argues that 'the last five years have shown
a loss burden above t
he long-term trend, both in the natural catastrophe and
major man-made loss 
sectors. If this development continues, the world
insurance system will face
 a huge challenge.'
A similar review of natural catastrophes from Munich Re,
 the world's largest
reinsurer, 'confirms a continuation in 1991 of the tren
d that has been
observed for more than 30 years: natural disasters are becom
ing more and
more costly,' in terms of overall economic loss and insured los
s.
Since the mid-1980s insured damage from natural catastrophes have far
out
stripped significant man-made losses. Typhoon Mireille which swept Japan
for
 two days in September 1991 caused insured damage of Dollars 5.2bn - the
lar
gest insured loss from a single storm. For the third year a wind storm
produ
ced a Dollars 4bn plus loss, following Hurricane Hugo in September
1989, and
 the storm Daria in western Europe in January 1990. Insured wind
storm damag
e throughout North America totalled more than Dollars 3bn in
1991, while a b
ush fire in California in October 1991 caused an insured loss
of Dollars 1.2
bn.
Looking at man-made catastrophe losses the trend is similar: more losses

costing more money. Swiss Re's survey argues that in totalling more than
Do
llars 3.2bn in 1991 'man-made insured damage is still clearly above the
long
-term average'. The biggest losses in this category were the sinking of
the 
Sleipner A gas platform while still in Grandafjord off Stavanger, Norway
(in
sured loss Dollars 334.5m), and the fire during construction of the
London U
nderwriting Centre (Dollars 290m). The latter highlighted the
increasing ris
k of construction site losses developed countries.
According to Munich Re, i
nsurers' real claims burdens from natural disasters
in the decade to 1991 we
re eight times heavier than during the 1960s.
Figures from Swiss Re, show th
at total insured damage from natural disasters
and large man-made losses tog
ether bounced around between Dollars 2bn and
Dollars 6bn (at 1991 prices) be
tween 1970 and 1985. Since then the yearly
totals have been sharply higher: 
reaching Dollars 14bn in 1889, Dollars 18bn
in 1990, Dollars 15bn in 1991.
T
hese figures are small in comparison with the overall Dollars 1,200bn taken

in premiums each year by insurers world-wide. However, the recent trend in
f
requency and value of catastrophe losses is of concern because of its
uncert
ainty. Is the trend going to be the norm for future years? And how far
will 
the figures rise?
Piper Alpha was an old platform (169 people died in the 19
88 disaster and
the insured loss was Dollars 1.4bn) - the newer North Sea pl
atforms are
multi-billion dollar structures. Insurance market estimates of p
ossible
future natural catastrophe incidents make grim reading. A large eart
hquake
in Tokyo or San Francisco could lead to a Dollars 50-Dollars 100bn do
llar
loss. If a Hugo-intensity storm had landed farther north up the US east

coast in New York, the loss could have been twice that actually suffered.
A
ccording to Andrew Dlugolecki, chief manager operations at General
Accident,
 there are many factors driving these trends of rising cost and
frequency. O
ne significant factor may be that the weather trends of the
1950s, 1960s and
 1970s were milder than the long-term trend, and recent
storm developments a
re a return towards that longer-term trend. Other
factors raising catastroph
e losses include:
Increasing concentration of values: industries have tended
 to build
increasingly expensive plant, of higher output, with greater produ
ct
inventory on site.
Increasing business interruption (B/I): more businesse
s are buying B/I
insurance cover, and B/I insured losses are rising at a fas
ter rate than
property losses. Larger, higher output plant take longer to re
build in the
event of a disaster.
New business practices: the development of
 just-in-time (jit) techniques is
one facet of increasing dependencies betwe
en suppliers and customers. In
recognition of this more supplier/customer B/
I extensions to cover are being
purchased.
New construction techniques: fast
 track and unitary methods mean a higher
percentage of high value finished f
ixtures and fittings are on site during
earlier stages of building construct
ion, possibly a time of raised risk from
fire. Increasing population density
: cities are becoming larger and, on
average, richer. If a natural disaster 
hits, losses are increased. Much of
the loss from a large wind storm is acco
unted for by many, relatively small
claims from householders. New geographic
al areas: both industry and
populations are moving into increasingly risky a
reas, especially coastal
regions more susceptible to storms, storm surges, t
sunamis (huge sea waves).
Increasing insurance density: greater demand from 
customers has led to more
insurance purchasing. It was easy to sell wind sto
rm cover in Europe after
the 1987 and 1990 storms. A corresponding push from
 insurers selling cheaply
in a soft market added to the trend.
Changes in cl
imate: natural variation in climate alters the propensity for
climatic event
s. The jury is still out on global warming, but scientists
argue that if the
 troposphere is warming, the earth's weather system will
contain more energy
 leading to greater intensity of climatic events.
What is to be done? Mr Con
rad argues that 'private fortunes gathered over
generations, were lost by Ll
oyd's names, reinsurers mobilised their
emergency reserves, retrocessionaire
s started selling their nest eggs.
(Premiums) apparently had been too low, o
therwise one would not have lost in
five years, what it had taken 50 to coll
ect'. His solution is simple: a
return to insurance basics; premiums rates c
ommensurate with risk,
appropriate levels of deductibles, proper calculation
 of probable and
possible catastrophe scenarios, proper loss prevention, los
s mitigation, and
accumulation control.
</TEXT>
<PUB>The Financial Times </P
UB>
<PAGE> London Page 30 </PAGE>
</DOC>

============= Transaction # 24 ==============================================
Transaction #:     24       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT944-16873</DOCNO>
<PROFILE>_AN-EJKDGAFQFT</PROFILE>
<DATE>941
011
</DATE>
<HEADLINE> FT  11 OCT 94 / Commodities and Agriculture: St Lucia
 looks for alternatives after banana disaster </HEADLINE>
<BYLINE>    By DEB
ORAH HARGREAVES </BYLINE>
<TEXT>
The West Indies island of St Lucia lost 70,
000 tonnes of bananas or 68 per
cent of its crop in the recent tropical stor
m that ravaged the Windward
Islands. It will cost Pounds 60m and take about 
two years to repair the
damage and get the island's agriculture industry bac
k on its feet again,
said Mr John Compton, prime minister, last week.
But he
 stressed that the country was using the damage wrought by tropical
storm De
bbie to step up its programme of agricultural diversification.
'We're lookin
g at tree crops such as mangoes and avocado pears to grow in
the hills for n
iche markets in Europe,' Mr Compton said.
Bananas have traditionally been a 
mainstay of St Lucia's economy with most
destined for the British market. Bu
t Mr Compton believes Caribbean producers
must become more competitive and d
iversify their farm industries.
'We plan to re-organise the whole structure 
of our banana industry as we
realise that competition in Europe will continu
e to be strong,' he said. The
country is looking for around Pounds 10m in ai
d from European Union
programmes to assist in increasing production and prod
uctivity in bananas as
well as diversifying.
Mr Compton believes producers i
n St Lucia can increase productivity by 50
per cent in fertile valleys by us
ing irrigation methods, better drainage,
better disease and pest control. He
 aims to produce the country's quota to
the EU market - 127,000 tonnes - on 
less acreage.
But the storm caused major structural damage, altering the cou
rse of rivers,
knocking out all but one of the island's water supplies. and 
silting up some
rivers. Mr Compton reckons that 20 per cent of the island's 
fertile valley
land is irrecoverably damaged.
'The storm has set back our ef
forts considerably, but we want to use this
opportunity to go ahead and prop
erly re-organise our farming industry,' Mr
Compton said.
In the meantime, th
e Windward Islands, which supply 3 to 4 per cent of EU
bananas are looking t
o buy in bananas from elsewhere to fulfil their quota
and hold on to market 
share. But the commission has yet to approve the
request.
Belize is asking f
or an increase in its EU quota to reflect the growth in
its own banana indus
try - the country has a quota for 40,000 tonnes, but
production will exceed 
55,000 tonnes this year.
</TEXT>
<XX>
Countries:-
</XX>
<CN>LCZ  St Lucia, C
aribbean.
    BZZ  Belize, Central America.
</CN>
<XX>
Industries:-
</XX>
<I
N>P0179 Fruits and Tree Nuts, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>MKTS  Produc
tion.
    MKTS  Foreign trade.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> 
London Page 31 </PAGE>
</DOC>

============= Transaction # 25 ==============================================
Transaction #:     25       Transaction Code:  19 (Record Selected)        

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT944-16873</DOCNO>
<PROFILE>_AN-EJKDGAFQFT</PROFILE>
<DATE>941
011
</DATE>
<HEADLINE> FT  11 OCT 94 / Commodities and Agriculture: St Lucia
 looks for alternatives after banana disaster </HEADLINE>
<BYLINE>    By DEB
ORAH HARGREAVES </BYLINE>
<TEXT>
The West Indies island of St Lucia lost 70,
000 tonnes of bananas or 68 per
cent of its crop in the recent tropical stor
m that ravaged the Windward
Islands. It will cost Pounds 60m and take about 
two years to repair the
damage and get the island's agriculture industry bac
k on its feet again,
said Mr John Compton, prime minister, last week.
But he
 stressed that the country was using the damage wrought by tropical
storm De
bbie to step up its programme of agricultural diversification.
'We're lookin
g at tree crops such as mangoes and avocado pears to grow in
the hills for n
iche markets in Europe,' Mr Compton said.
Bananas have traditionally been a 
mainstay of St Lucia's economy with most
destined for the British market. Bu
t Mr Compton believes Caribbean producers
must become more competitive and d
iversify their farm industries.
'We plan to re-organise the whole structure 
of our banana industry as we
realise that competition in Europe will continu
e to be strong,' he said. The
country is looking for around Pounds 10m in ai
d from European Union
programmes to assist in increasing production and prod
uctivity in bananas as
well as diversifying.
Mr Compton believes producers i
n St Lucia can increase productivity by 50
per cent in fertile valleys by us
ing irrigation methods, better drainage,
better disease and pest control. He
 aims to produce the country's quota to
the EU market - 127,000 tonnes - on 
less acreage.
But the storm caused major structural damage, altering the cou
rse of rivers,
knocking out all but one of the island's water supplies. and 
silting up some
rivers. Mr Compton reckons that 20 per cent of the island's 
fertile valley
land is irrecoverably damaged.
'The storm has set back our ef
forts considerably, but we want to use this
opportunity to go ahead and prop
erly re-organise our farming industry,' Mr
Compton said.
In the meantime, th
e Windward Islands, which supply 3 to 4 per cent of EU
bananas are looking t
o buy in bananas from elsewhere to fulfil their quota
and hold on to market 
share. But the commission has yet to approve the
request.
Belize is asking f
or an increase in its EU quota to reflect the growth in
its own banana indus
try - the country has a quota for 40,000 tonnes, but
production will exceed 
55,000 tonnes this year.
</TEXT>
<XX>
Countries:-
</XX>
<CN>LCZ  St Lucia, C
aribbean.
    BZZ  Belize, Central America.
</CN>
<XX>
Industries:-
</XX>
<I
N>P0179 Fruits and Tree Nuts, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>MKTS  Produc
tion.
    MKTS  Foreign trade.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> 
London Page 31 </PAGE>
</DOC>

============= Transaction # 26 ==============================================
Transaction #:     26       Transaction Code:  22 (Record(s) Saved)        

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<DOC>
<DOCNO>FT944-16873</DOCNO>
<PROFILE>_AN-EJKDGAFQFT</PROFILE>
<DATE>941
011
</DATE>
<HEADLINE> FT  11 OCT 94 / Commodities and Agriculture: St Lucia
 looks for alternatives after banana disaster </HEADLINE>
<BYLINE>    By DEB
ORAH HARGREAVES </BYLINE>
<TEXT>
The West Indies island of St Lucia lost 70,
000 tonnes of bananas or 68 per
cent of its crop in the recent tropical stor
m that ravaged the Windward
Islands. It will cost Pounds 60m and take about 
two years to repair the
damage and get the island's agriculture industry bac
k on its feet again,
said Mr John Compton, prime minister, last week.
But he
 stressed that the country was using the damage wrought by tropical
storm De
bbie to step up its programme of agricultural diversification.
'We're lookin
g at tree crops such as mangoes and avocado pears to grow in
the hills for n
iche markets in Europe,' Mr Compton said.
Bananas have traditionally been a 
mainstay of St Lucia's economy with most
destined for the British market. Bu
t Mr Compton believes Caribbean producers
must become more competitive and d
iversify their farm industries.
'We plan to re-organise the whole structure 
of our banana industry as we
realise that competition in Europe will continu
e to be strong,' he said. The
country is looking for around Pounds 10m in ai
d from European Union
programmes to assist in increasing production and prod
uctivity in bananas as
well as diversifying.
Mr Compton believes producers i
n St Lucia can increase productivity by 50
per cent in fertile valleys by us
ing irrigation methods, better drainage,
better disease and pest control. He
 aims to produce the country's quota to
the EU market - 127,000 tonnes - on 
less acreage.
But the storm caused major structural damage, altering the cou
rse of rivers,
knocking out all but one of the island's water supplies. and 
silting up some
rivers. Mr Compton reckons that 20 per cent of the island's 
fertile valley
land is irrecoverably damaged.
'The storm has set back our ef
forts considerably, but we want to use this
opportunity to go ahead and prop
erly re-organise our farming industry,' Mr
Compton said.
In the meantime, th
e Windward Islands, which supply 3 to 4 per cent of EU
bananas are looking t
o buy in bananas from elsewhere to fulfil their quota
and hold on to market 
share. But the commission has yet to approve the
request.
Belize is asking f
or an increase in its EU quota to reflect the growth in
its own banana indus
try - the country has a quota for 40,000 tonnes, but
production will exceed 
55,000 tonnes this year.
</TEXT>
<XX>
Countries:-
</XX>
<CN>LCZ  St Lucia, C
aribbean.
    BZZ  Belize, Central America.
</CN>
<XX>
Industries:-
</XX>
<I
N>P0179 Fruits and Tree Nuts, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>MKTS  Produc
tion.
    MKTS  Foreign trade.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> 
London Page 31 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT911-1725</DOCNO>
<PROFILE>_AN-BECBBACPFT</PROFILE>
<DATE>9105
03
</DATE>
<HEADLINE> FT  03 MAY 91 / FT Law Report: Arbitrators cannot hear
 claim </HEADLINE>
<BYLINE>    By RACHEL DAVIES, Barrister </BYLINE>
<TEXT>

WORLD ERA
Queen's Bench Division (Commercial Court): Mr Justice Hobhouse: Ma
rch 27
1991
AN ARBITRATOR'S jurisdiction on a reference asserting loss to ch
arterers in
their own right by shipowners' breach of charterparty, is limite
d to that
cause of action; and he therefore has no jurisdiction to hear an a
mended
claim arising out of a different cause of action in that the chartere
rs
claim as agents for loss suffered by their principals as a result of the

same breach.
Mr Justice Hobhouse so held when making a limited declaration i
n favour of
the plaintiffs, Leif Heogh and Co A/S, disponent owners of World
 Era, that
arbitrators on a claim by the defendant charterers, Petrolsea Inc
, had no
jurisdiction to hear amendments to the Points of Claim in so far as

Petrolsea claimed as agents for an undisclosed principal. He rejected the
p
laintiffs' claim that the arbitrators had no jurisdiction on the ground
that
 the amendments were time-barred.
HIS LORDSHIP said that a tanker voyage cha
rterparty dated October 24 1980
between disponent owners of World Era and th
e charterers, was one of a tier
of charterparties.
The actual owners had cha
rtered the vessel to the disponent owners on terms
similar to those between 
the disponent owners and the charterers. The
charterers subchartered the ves
sel on back to back terms. The charterers and
sub-charterers were both subsi
diaries of companies in the Marc Rich & Co AG
group.
In November 1980 the ve
ssel loaded cargo at two Gulf ports for carriage to
ports in Italy and Sardi
nia, issuing bills of lading naming those discharge
ports. After the vessel 
had sailed, the charterers ordered the vessel to
discharge at Durban in Sout
h Africa. They contended that under their
charterparty with the disponent ow
ners they were entitled to give that
order.
The disponent owners passed on t
he order to the head owners who refused to
accept it, and the disponent owne
rs passed that refusal back to the
charterers.
The upshot was that the cargo
 was eventually discharged at Bonaire in the
Caribbean.
The charterers said 
that certain expenses had been incurred in supplying
substitute cargo to Sou
th African purchasers.
In 1981 arbitrators were appointed in respect of a cl
aim by the charterers
against the disponent owners for damages for breach of
 the charterparty in
refusing the order to discharge in South Africa.
Points
 of Claim were served in November 1984. They described the arbitration
as be
tween charterers as claimants and disponent owners as respondents; and
refer
red to the charterparty an agreement between claimant charterers and
respond
ent disponent owners.
It was pleaded that by reason of the disponent owners'
 breach of charter in
refusing to discharge at Durban, the claimants had suf
fered loss and damage
and/or had incurred liability to indemnify the sub-cha
rterers.
The claim amounted to about Dollars 4,784.
The disponent owners rai
sed defences and counterclaims.
In preparing their case as the years passed 
by, it occurred to those acting
for the charterers that they might have diff
iculty in substantiating and
proving their claim as alleged. The charterers 
discovered after all that
time that they had not been contracting on their o
wn behalf but on behalf of
Marc Rich, a fact not previously disclosed. In Ma
rch 1990 they sent the
disponent owners draft amended Points of Claim.
The a
mendments did not seek to alter the parties to the arbitration. They
remaine
d charterers as claimants and disponent owners as respondents. They
did not 
alter the previous allegations with regard to the charterparty and
the parti
es to it.
However, they added an allegation that 'the charterparty was made 
by the
claimants as agents for undisclosed principals, Marc Rich'.
The damag
es claim was recast. It was alleged that the claimants 'and/or
their princip
als Marc Rich' had suffered loss and damage and/or the
claimants had incurre
d a liability to indemnify the sub-charterers 'and/or
Marc Rich' in respect 
of loss and damage suffered by them.
All the previous particulars were delet
ed. Allegations were substituted
regarding Marc Rich's liabilities to a Sout
h African company, and the agency
relationship. The final particular alleged
 in the alternative that if,
contrary to the claimant's case, the claimants 
were not agents for Marc
Rich, they were principals and the loss was suffere
d by them as such.
On the present originating summons the disponent owners a
sked for a
declaration that the arbitrators had no jurisdiction to hear the 
amendments,
on the ground that they were outside the terms of the reference 
to
arbitration, or were time-barred.
Section 5 of the Limitation Act 1980, a
nd its predecessor in the 1939 Act,
provided that an action founded on simpl
e contract should not be brought
after six years from when the cause of acti
on accrued.
By section 34(3) an arbitration commenced where the appropriate 
steps to
appoint, or to require the appointment of an arbitrator had been ca
rried
out.
The character of the time limit did not go to jurisdiction. It me
rely
provided a defence to the claim. If the defence was disputed, as it was

here, the arbitrators must decide it.
It followed that in so far as the att
ack on jurisdiction was founded on time
bar, it was misconceived and must fa
il.
The disponent owners accepted that all the matters now within the amende
d
Points of Claim could have been referred to arbitration by the charterers 
in
1981. They said they were not so referred.
The cause of action on which t
he charterers relied in 1981 when referring
the dispute to arbitration and a
ppointing their arbitrator, was the
disponent owners' alleged breach of char
ter in declining to deliver in South
Africa.
That was the original cause of 
action, in respect of which the arbitrators
were appointed. Subject to one p
oint it remained the cause of action which
the charterers sought to enforce.
 No new breach of charterparty was alleged
or relied on.
That was sufficient
 to dispose of most of the points on which the disponent
owners relied in th
eir attack on jurisdiction.
But, in one respect the charterers, although sti
ll putting themselves
forward as the only claimant in the arbitration, did p
urport to raise a new
or different cause of action.
That was the allegation 
that they were entitled to recover not only in their
own right, but in right
 of Marc Rich.
In the clause pleading loss and damage, in so far as the char
terers alleged
that they had incurred liability to indemnify the sub-charter
ers and/or Marc
Rich, those were matters properly pleaded and relevant to th
eir claim.
In so far as they also alleged that 'their principals, Marc Rich'
 had
suffered loss and damage, the charterers were going beyond what they co
uld
claim by their asserted cause of action.
To recover in the right of anot
her was to assert a cause of action of that
other person. Such cause of acti
on had not been referred to prior to
delivery of the draft amendments in 199
0.
On the face of it it was a new cause of action not included in the origin
al
reference.
The only entity that had claimed arbitration and referred its 
claim to the
arbitrators was the charterers.
Marc Rich chose not to make a r
eference. All it had done was to cause its
agents, the charterers, to claim 
in the right of Marc Rich. That was not
permissible within the existing refe
rence. In the absence of a further
reference, that claim must be excluded.
O
nce one had identified that a claim in the right of Marc Rich was not
within
 the reference, questions of the extent of recovery to which the
charterers 
were entitled in their own right, fell within the arbitrators'
jurisdiction.

In so far as the amended Points of Claim alleged that the charterers were
c
ontracting agents for undisclosed principals, that the principals suffered
l
oss and damage, and that the charterers were entitled to recover damages in

the right of the sub-charterers and Marc Rich, they made claims and raised
d
isputes which had not been referred and which the arbitrators did not have
j
urisdiction to decide.
For the plaintiff disponent owners: Bernard Eder QC a
nd John Lockey
(Sinclairs).
For the defendant charterers: Michael Howard QC 
and Nigel Meeson (Clyde &
Co).
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE
> London Page 29 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT943-1514</DOCNO>
<PROFILE>_AN-EIWEEAFMFT</PROFILE>
<DATE>9409
23
</DATE>
<HEADLINE> FT  23 SEP 94 / UK Company News: Geest warns of second
 half loss - Shares fall as damage to banana production takes toll </HEADLIN
E>
<BYLINE>    By DAVID BLACKWELL </BYLINE>
<TEXT>
The aftermath of the trop
ical storm that severely damaged banana production
in the Windward Islands w
ill push Geest, the fresh and chilled food group,
into the red in the second
 half.
Shares fell 30p to 190p yesterday following the warning from Mr David

Sugden, chief executive, who presented a strong set of interim results.
Pre
-tax profits rose from Pounds 3m to Pounds 17.9m for the six months to
July 
2 on turnover ahead at Pounds 353.8m (Pounds 332.7m).
'The business has been
 performing well, but is overshadowed by considerable
uncertainty,' said Mr 
Sugden, referring to the European Commission's laxity
in responding to the c
ompany's plea for permission to purchase replacement
bananas in Latin Americ
a.
The EC banana management committee failed to agree on Wednesday on measur
es
that would allow Geest to purchase alternative bananas from Latin America

under the EC quota system. The committee does not meet again until October

5.
Tropical Storm Debbie hit the Windward Islands earlier this month, causin
g
extensive flooding around St Lucia and damage to roads and bridges. Geest,

which is under contract to ship all the islands' bananas, estimates that
ou
tput will be 40 per cent down.
Last week the first ship to arrive since the 
storm was half full. The
company is expecting to load only 2,400 tonnes a we
ek, compared with a
normal load of 4,000 tonnes.
The first half, however, sh
owed the company recovering from the
uncertainties surrounding the EC banana
 regime, introduced last July, as
well as an attack of disease on its Costa 
Rican plantations, which left it
Pounds 5.4m in the red at the end of last y
ear. Operating profits in the
fresh produce division improved from Pounds 2m
 to Pounds 15m on sales of
Pounds 285.6m (Pounds 276.5m).
The food preparati
on division, which supplies chilled salads and other
products, lifted operat
ing profits from Pounds 3.3m to Pounds 4.2m on sales
of Pounds 66.6m (Pounds
 54.4m).
The result this time included an exceptional gain of Pounds 2.5m fr
om a
disposal. Net interest payable rose from Pounds 500,000 to Pounds 3.2m.

Earnings per share were 18.9p (2.7p). The interim dividend is unchanged at

3.7p.
COMMENT
While the problems of disease in Costa Rica appear to have gon
e away,
Geest's troubles with the European Commission and the banana regime 
are not
over yet, thanks to Tropical Storm Debbie. In spite of its successfu
l
efforts to boost its food preparation division, the group remains vulnerab
le
to the banana industry, which is highly political and subject to natural

disaster. It has also only two main areas of supply, leaving it looking
infl
exible beside companies that source more widely. Adding to its problems
is g
earing of more than 100 per cent. Best guesses at this year's final
outcome 
seem to be around Pounds 9m of profits - better than last year but a
far cry
 from 1991's Pounds 26.2m.
See Commodities
</TEXT>
<XX>
Companies:-
</XX>
<C
O>Geest.
</CO>
<XX>
Countries:-
</XX>
<CN>GBZ  United Kingdom, EC.
</CN>
<XX
>
Industries:-
</XX>
<IN>P5148 Fresh Fruits and Vegetables.
</IN>
<XX>
Types
:-
</XX>
<TP>FIN  Interim results.
    CMMT  Comment & Analysis.
    MKTS  P
roduction.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 28 </PAG
E>
</DOC>

============= Transaction # 41 ==============================================
Transaction #:     41       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT932-7277</DOCNO>
<PROFILE>_AN-DEYCHACEFT</PROFILE>
<DATE>9305
25
</DATE>
<HEADLINE> FT  25 MAY 93 / Insurers told to cut storm cover </HEA
DLINE>
<BYLINE>    By RICHARD LAPPER </BYLINE>
<TEXT>
INSURERS could come un
der pressure to reduce cover for storm damage to
homes, a conference on glob
al warming and catastrophic weather losses was
told yesterday.
Mr Jeremy Hin
dle, a senior underwriter with Swiss Re, the world's second
largest reinsura
nce company, said that the excess (the amount a policyholder
pays of any cla
im) on household buildings policies 'must be raised to Pounds
250 immediatel
y, with a move to Pounds 1,000 being the target.'
Swiss Re is one of a numbe
r of reinsurers providing cover to UK insurers.
Insurers have introduced hig
her excesses for subsidence but for most claims
householders pay a compulsor
y excess of about Pounds 50. Some insurers offer
lower premiums for customer
s who choose to take a higher excess.
Household insurance premiums have rise
n in recent years, partly reflecting
steep rises in rates charged by reinsur
ers to insurance companies.
Mr Hindle told the conference, organised by envi
ronmental pressure group
Greenpeace, that changes in terms and conditions of
 buildings policies were
needed to reduce exposure to storm damage.
Reinsure
rs have put the UK in the list of five international regions most
exposed to
 catastrophic weather or earthquake risk, after two of the
costliest storms 
on record in the past six years.
But he said reinsurers could also press for
 further changes. Insurers could
restrict coverage to a percentage of the su
m insured in some areas or follow
the example of insurers in the Virgin Isla
nds - badly hit by hurricane Hugo
in 1989 - where excesses are a percentage 
of the property's value.
AA Insurance, one of the UK's biggest brokers, crit
icised the move to raise
excesses. Mr Noel Privett, AA head of information, 
said such it would
represent 'a huge overreaction. A more creative solution 
is called for'.
</TEXT>
<XX>
Countries:-
</XX>
<CN>GBZ  United Kingdom, EC.

</CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Casualty Insurance
.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Financial 
Times </PUB>
<PAGE> London Page 12 </PAGE>
</DOC>

============= Transaction # 42 ==============================================
Transaction #:     42       Transaction Code:  39 (Full Doc Window --TREC) 

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<PROFILE>_AN-DH0CBAAAFT</PROFILE>
<DATE>9308
27
</DATE>
<HEADLINE> FT  27 AUG 93 / World News in Brief: Tokyo under typho
on threat </HEADLINE>
<TEXT>
Storm warnings were issued in central Japan abo
ut Typhoon Vernon, which
weather experts said could hit land near Tokyo toda
y with winds of 79mph.
</TEXT>
<XX>
Countries:-
</XX>
<CN>JPZ  Japan, Asia.

</CN>
<XX>
Industries:-
</XX>
<IN>P9229 Public Order and Safety, NEC.
</IN>

<XX>
Types:-
</XX>
<TP>RES  Natural resources.
</TP>
<PUB>The Financial Time
s </PUB>
<PAGE> London Page 1 </PAGE>
</DOC>

============= Transaction # 43 ==============================================
Transaction #:     43       Transaction Code:  39 (Full Doc Window --TREC) 

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27
</DATE>
<HEADLINE> FT  27 AUG 93 / World News in Brief: Tokyo under typho
on threat </HEADLINE>
<TEXT>
Storm warnings were issued in central Japan abo
ut Typhoon Vernon, which
weather experts said could hit land near Tokyo toda
y with winds of 79mph.
</TEXT>
<XX>
Countries:-
</XX>
<CN>JPZ  Japan, Asia.

</CN>
<XX>
Industries:-
</XX>
<IN>P9229 Public Order and Safety, NEC.
</IN>

<XX>
Types:-
</XX>
<TP>RES  Natural resources.
</TP>
<PUB>The Financial Time
s </PUB>
<PAGE> London Page 1 </PAGE>
</DOC>

============= Transaction # 44 ==============================================
Transaction #:     44       Transaction Code:   8 (Mixed Bool./Dir. Rank Search)

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============= Transaction # 45 ==============================================
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  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
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============= Transaction # 46 ==============================================
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============= Transaction # 47 ==============================================
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============= Transaction # 48 ==============================================
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============= Transaction # 49 ==============================================
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============= Transaction # 50 ==============================================
Transaction #:     50       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT944-12299</DOCNO>
<PROFILE>_AN-EKBD9AC3FT</PROFILE>
<DATE>941
102
</DATE>
<HEADLINE> FT  02 NOV 94 / Business and the Environment: Insurer
s in a storm </HEADLINE>
<BYLINE>    By NANCY DUNNE </BYLINE>
<TEXT>
Fifteen
 catastrophic hurricanes, floods and storms cost worldwide insurers
more tha
n Dollars 80bn (Pounds 50bn) since a period of weather extremes set
in five 
years ago, according to an article in the latest World Watch
Institute's jou
rnal.
In 1992, Hurricane Andrew struck Florida and set a new record for dama
ges at
Dollars 25bn. The Mississippi floods in 1993 cost Dollars 12bn. Europ
e was
hit by four severe windstorms in 1990 which accumulated damages of Dol
lars
10bn. Japan was struck in 1991 by Typhoon Mireille with nearly Dollars 
5bn
in damages.
As the damages mount, insurers have begun to take seriously 
the global
warming theory advanced by many scientists. The fear is that the 
warming,
spurred by 'greenhouse gases', produced by fossil fuels, could seri
ously
disrupt the world's atmospheric and oceanic systems.
Lack of agreement
 in the scientific community has made the insurers wary.
But their interest 
is being applauded by environmentalists who see the
insurers as a potential 
counterweight to the power of the oil and coal
interests in the global warmi
ng debate.
Christopher Flavin, author of the World Watch article, is urging 
the
insurers to enter the struggle over climate policy. 'Few industries are

capable of doing battle with the likes of the fossil fuel lobby. But the
ins
urance industry is,' he says. 'On a worldwide basis the two are of
roughly c
omparable size and potential political clout.'
The insurance industry could,
 for example, push government to tighten energy
efficiency rules for new bui
ldings. It could actively lobby for a stronger
global climate pact.
It could
 also use its investment capacity. 'If they (companies) were to dump
some of
 their stocks in oil and coal companies or actively invest some of
their fun
ds in new, less carbon-intensive energy technologies (forming a
sort of clim
ate venture fund), insurance companies could spur the
development of a less 
threatening energy system,' says Flavin.
Unless the industry begins to use i
ts clout in the struggle over climate
policy, its future 'is likely to be st
ormy indeed', said Flavin.
</TEXT>
<XX>
Countries:-
</XX>
<CN>XAZ  World.
</
CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Casualty Insurance.

    P951  Environmental Quality.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment 
& Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 18 </PA
GE>
</DOC>

============= Transaction # 51 ==============================================
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<DOC>
<DOCNO>FT931-7520</DOCNO>
<PROFILE>_AN-DBXCKACQFT</PROFILE>
<DATE>9302
24
</DATE>
<HEADLINE> FT  24 FEB 93 / Business and the Environment: Weather 
wise - Typhoons, hurricanes and the threat of global warming are pushing up 
insurance rates </HEADLINE>
<BYLINE>    By RICHARD LAPPER and BRONWEN MADDOX
 </BYLINE>
<TEXT>
'WE GET zapped every five minutes,' says Richard Keeling, 
underwriter with
Lloyd's syndicate 362, reviewing the impact of recent hurri
canes, gales and
typhoons on the London insurance market.
Recent storms, eac
h more damaging than the last, culminated in last year's
hurricane Andrew, w
hich devastated parts of Louisiana and Florida and caused
losses estimated t
o be at least Dollars 16bn and perhaps as much as Dollars
20bn (Pounds 14bn)
, the United States's biggest-ever insured loss.
That has triggered tough ba
rgaining in the London insurance market and one
of the hardest 'renewal' sea
sons, as reinsurers seek to impose big rate
increases.
Most significantly, i
n a move that could lead to higher insurance rates for
many years, insurers 
are also beginning to ask whether recent storms are a
sign of global warming
 or other long-term shifts in weather patterns. The
question has led to an u
nlikely convergence with environmental pressure
groups such as Greenpeace, w
hich last month published a long report
welcoming insurers' alertness to the
 risk.
In the recent round of negotiations, brokers buying cover for US clie
nts -
who have avoided heavy increases in recent years - have found the goin
g
toughest.
However, across the board, direct insurers are now paying more f
or their
reinsurance. Keeling says that since October 1987, reinsurance rate
s have
increased by 650 per cent for European insurers, 450 per cent for US 
buyers
and by 1,000 per cent for Japanese companies.
The increases partly re
flect reinsurers' efforts to restore profitability
after heavy losses from w
eather and from other disasters such as the 1988
Piper Alpha oil rig explosi
on and the Exxon Valdez oil spill the following
year.
Both Swiss Re and Muni
ch Re, the world's two biggest reinsurers, have seen
profits dented and have
 been forced to draw deep into their reserves to meet
claims, especially fro
m the European storms of 1990. Many smaller reinsurers
have withdrawn from t
he market. More than a third of Lloyd's Names and
nearly half the syndicates
 have left the market since 1989. As competition
for business has dwindled, 
bigger players have found it easier to force
through rate increases.
Underwr
iters are also now beginning to take a deeper look at the risk of
storm dama
ge. They recognise that denser population in potentially exposed
regions, su
ch as the south-eastern coast of the US, is partly responsible
for the rise 
in losses. 'Windstorm' cover has also become a more common
element of househ
olders' policies over the last two decades in most
countries.
And increasing
ly many are questioning whether the recent increases in land
and sea tempera
tures are leading to greater atmospheric instability and more
frequent and i
ntense winds. Scientists have warned for several years that
gases such as ca
rbon dioxide, emitted from burning fossil fuels, could cause
global warming.

The United Nation's Intergovernmental Panel on Climate Change, set up to
in
vestigate the phenomenon, has suggested the average increase could be
somewh
ere between 1.5'C and 3.5'C over the next 100 years.
However, scientists hav
e emphasised there is still uncertainty about the
processes involved - the m
odels find it hard to take account of clouds,
which could slow down warming.
 They also say it is impossible to conclude
from recent storms and warm summ
ers that climate change is already
happening.
Despite scientific uncertainty
, insurers feel they need to protect
themselves. Walter Kielholz, general ma
nager of Swiss Re, one of the first
insurance companies to question whether 
global warming could be responsible
for worsening weather, agrees that 'the 
statistical data is too short to
conclusively prove that there is a trend'. 
But he adds: 'It might just be a
hiccup but we can't afford to wait for the 
long-term before taking action.'
Research commissioned by Keeling and severa
l other Lloyd's underwriters by
the University of East Anglia's climatology 
department also concludes: 'The
possibility that the trend (of more frequent
 gales in north-western Europe)
is related to global warming cannot be rejec
ted.' Insurers should assume
that 'gale frequencies will remain at the level
 of the 1980s' and could rise
further, the report says.
In Greenpeace's rece
nt study, the pressure group called for insurers to join
the lobby for limit
s on the emission of 'greenhouse gases'. Keeling
acknowledges: 'We have to d
o something constructive but the insurance
industry will never be a lobby. W
e are too diffused.'
Instead, as well as increasing rates insurers have begu
n to toughen the
terms of storm insurance. Kielholz says that since 1990 Swi
ss Re has begun
to isolate the risk of 'windstorm' from other exposures it u
nderwrites.
The group now likes to cover windstorm through an excess of loss
 reinsurance
contract (in which the reinsurer covers a tranche of risk up to
 a pre-set
limit) rather than by covering it alongside other risks as part o
f a
proportional reinsurance deal (in which the reinsurer accepts an agreed

percentage of exposure).
'Reinsurers have become more and more reluctant to 
include windstorm in
proportional property treaties,' says Kielholz.
Reinsur
ers are also urging direct insurers to make policyholders pay the
first port
ion of any loss themselves, as an incentive to protect their
property agains
t storms. Householders would then be more likely to carry out
essential main
tenance and commercial customers to follow building codes more
strictly, the
y argue. During Hurricane Andrew many new buildings, especially
those with s
teel frames and metal casings, proved to be particularly
vulnerable to wind 
damage, according to Swiss Re.
Higher rates and tougher terms are the insura
nce industry's perhaps
unsurprising response to recent storms and the potent
ial threat of global
warming.
The environmental movement has shown itself re
luctant to acknowledge
scientific doubts about climate change, while climato
logists - who might
stress that uncertainty - have few reasons to get involv
ed in debates on
insurance charges. Customers may have to hope the new highe
r rates help
preserve some of the financially weaker groups, and so preserve
 competition
in the industry.
 ---------------------------------------------
--------------------
                   THE COST OF RECENT STORMS
 ---------
--------------------------------------------------------
Aug 1992    US     
            Cyclone Iniki      Dollars  1.4bn
Aug 1992    US                
 Hurricane Andrew   Dollars 20.0bn
Sep 1991    Japan              Typhoon Mi
reille   Dollars  4.8bn
Jul 1990    US                 Colorado storms    Do
llars  1.0bn
Feb 1990    NW Europe          Windstorm Wibke    Dollars  1.3b
n
Feb 1990    NW Europe          Windstorm Vivian   Dollars  3.2bn
Feb 1990 
   NW Europe          Windstorm Herta    Dollars  1.3bn
Jan 1990    NW Europ
e          Windstorm Daria    Dollars  4.6bn
Sep 1989    US                 
Hurricane Hugo     Dollars  5.8bn
Oct 1987    NW Europe          Un-named wi
ndstorm Dollars  2.5bn
 ----------------------------------------------------
-------------
Source: Greenpeace
 ------------------------------------------
-----------------------
</TEXT>
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Countries:-
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<CN>GBZ  United Kingd
om, EC.
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    P6411 Insurance Agents, Brokers, and Service.
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Types
:-
</XX>
<TP>RES  Natural resources.
    COSTS  Costs & Prices.
    MKTS  Ma
rket data.
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<PAGE> London Page 14 </PAG
E>
</DOC>

============= Transaction # 52 ==============================================
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<DOC>
<DOCNO>FT923-6110</DOCNO>
<PROFILE>_AN-CH0BVADPFT</PROFILE>
<DATE>9208
26
</DATE>
<HEADLINE> FT  26 AUG 92 / Hurricane damage put at Dollars 20bn a
s 2m people told to leave homes </HEADLINE>
<BYLINE>    By MARTIN DICKSON an
d NORMA COHEN </BYLINE>
<DATELINE>    NEW YORK, LONDON </DATELINE>
<TEXT>
DA
MAGE CAUSED by Hurricane Andrew could rise to Dollars 20bn, it was
estimated
 yesterday, as one of the costliest US storms this century
threatened a furt
her devastating landfall near the city of New Orleans.
Government officials 
in Louisiana, Mississippi and Texas yesterday advised
or ordered more than 2
m people to evacuate coastal areas.
The hurricane tore through southern Flor
ida early on Monday morning, causing
billions of dollars of property damage 
and at least 12 deaths, and yesterday
was moving north-west across the Gulf 
of Mexico with winds of about 140
miles an hour.
At least three people died 
on Sunday when Hurricane Andrew crossed the
Bahamas.
Ms Kate Hale, director 
of emergency services in Florida's Dade County, which
bore the brunt of the 
storm, estimated that Andrew had already caused
Dollars 15bn to Dollars 20bn
 (Pounds 7.5bn-Pounds 10bn) of damage.
However, insurance industry analysts 
cautioned that it was too early to
assess the costs accurately. The US indus
try's Property Claims Service, the
official compiler of disaster losses, had
 yet to compile a preliminary tally
of the Florida bill.
A hurricane warning
 was in effect yesterday along 470 miles of Gulf coast
from Pascagoula, Miss
issippi, to Galvestone, Texas.
Several forecasting agencies suggested the li
keliest landfall was in central
Louisiana, to the west of New Orleans, possi
bly late last night or this
morning.
New Orleans, with a population of 1.6m,
 is particularly vulnerable because
the city lies below sea level, has the M
ississippi River running through its
centre and a large lake immediately to 
the north.
Much of America's oil refining industry is concentrated along coa
stal Texas
and Louisiana and several refineries were yesterday partially shu
t down.
These included British Petroleum's Belle Chasse plant in Louisiana.

In Florida, Andrew caused greatest havoc in a largely suburban swathe some
1
0-15 miles south of Miami. The town of Homestead, near the centre of the
sto
rm, was largely flattened, including a local air force base.
Miami's city ce
ntre escaped with relatively light damage. More than 24 hours
after the hurr
icane, some 825,000 households and businesses were still
without power.
The 
brunt of insurance claims from the Florida storm will fall on the US
industr
y, and companies with a heavy local exposure include the State Farm
Group an
d the Allstate Insurance unit of Sears Roebuck. These are also the
leading p
roperty/casualty and home insurance groups in Louisiana, together
with Ameri
can International Group.
A spokesman for State Farm Insurance said he believ
ed the company had
roughly 20 per cent of the Florida market. The mutually-o
wned company has no
reinsurance. Its size has made obtaining reinsurance cov
er difficult and its
reserves, at about Dollars 24bn, have made it unnecessa
ry.
According to Balcombe Group, a UK-based claims adjustment firm, other
in
surers with large exposure in the hurricane-hit area are Hartford
Insurance,
 Aetna and Travellers. Travellers said it had flown 50 claims
adjusters in t
o Florida late on Monday and was assessing losses. About 12
per cent of Trav
ellers' home insurance premium income came from Florida last
year, and 4.6 p
er cent of its commercial insurance premiums.
The last serious US hurricane,
 Hugo, which struck South Carolina in 1989,
cost the industry Dollars 4.2bn 
from insured losses, though estimates of the
total damage caused ranged betw
een Dollars 6bn and Dollars 10bn.
</TEXT>
<PUB>The Financial Times </PUB>
<P
AGE> London Page 14 </PAGE>
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s Taiwan </HEADLINE>
<TEXT>
Typhoon Seth, with winds of 107mph, struck Taiwa
n yesterday, leaving one
person dead. Four domestic airports in eastern Taiw
an were closed but
international airports stayed open.
A highway in eastern 
Taiwan was closed following landslides. Officials were
considering whether t
o cancel today's National Day celebrations.
Seth is the sixth typhoon to hit
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30 people and caused extensive 
damage.
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<PUB>The Financial Times </PUB>

<PAGE> London Page 14 </PAGE>
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============= Transaction # 54 ==============================================
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<TEXT>
Typhoon Seth, with winds of 107mph, struck Taiwa
n yesterday, leaving one
person dead. Four domestic airports in eastern Taiw
an were closed but
international airports stayed open.
A highway in eastern 
Taiwan was closed following landslides. Officials were
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o cancel today's National Day celebrations.
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<PUB>The Financial Times </PUB>

<PAGE> London Page 14 </PAGE>
</DOC>

============= Transaction # 55 ==============================================
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s Taiwan </HEADLINE>
<TEXT>
Typhoon Seth, with winds of 107mph, struck Taiwa
n yesterday, leaving one
person dead. Four domestic airports in eastern Taiw
an were closed but
international airports stayed open.
A highway in eastern 
Taiwan was closed following landslides. Officials were
considering whether t
o cancel today's National Day celebrations.
Seth is the sixth typhoon to hit
 Taiwan since early July. Storms have killed
30 people and caused extensive 
damage.
</TEXT>
<XX>
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<CN>TWZ  Taiwan, Asia.
</CN>
<XX>
Ind
ustries:-
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<IN>P9511 Air, Water, and Solid Waste Management.
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<XX>

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<TP>NEWS  General News.
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<PUB>The Financial Times </PUB>

<PAGE> London Page 14 </PAGE>
</DOC>

============= Transaction # 56 ==============================================
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<DOC>
<DOCNO>FT931-3325</DOCNO>
<PROFILE>_AN-DCSB4AHPFT</PROFILE>
<DATE>9303
16
</DATE>
<HEADLINE> FT  16 MAR 93 / Winter storms kill over 100 in eastern
 US </HEADLINE>
<BYLINE>    By NIKKI TAIT and LAURIE MORSE </BYLINE>
<DATELI
NE>    NEW YORK, CHICAGO </DATELINE>
<TEXT>
BUSINESSES, commuters and home-o
wners along the eastern US seaboard
struggled to return to normality yesterd
ay after a winter storm left a trail
of devastation in its wake and cost up 
to 115 lives.
In Florida, hard-hit by Hurricane Andrew last August, the stor
m system
spawned about 50 tornadoes; in the New Jersey, Connecticut and New 
York
state region around 300,000 homes were left without electricity and up 
to
17ins of snow were recorded.
In New York hundreds of motorists spent yest
erday morning digging parked
cars out from mountainous snow-drifts, many cre
ated by the weekend's
snow-ploughs.
East Coast airports were crowded with pe
ople trying to get away after being
stranded through the weekend, when the n
ation's air transport system
suffered one of its worst-ever disruptions.
Maj
or motorways were reopening yesterday, but many smaller roads remained
block
ed, with some travellers still snowbound.
Yesterday afternoon, A M Best, the
 US rating agency which specialises in the
insurance sector, estimated that 
the storm produced about Dollars 800m in
insured damages. However, some comp
anies said it was too soon to attach a
precise number to claims.
'We just do
n't know at this stage,' said Allstate, the large Illinois-based
insurer. Th
e American Insurance Association, whose property-claims division
provides in
dustry-wide estimates of catastrophe losses, also said it was
only just begi
nning to receive reports from member firms.
A M Best suggested the bulk of d
amage would come in the southeastern states
and central Florida. It estimate
d that the storm which hit the Northeast in
December was probably more damag
ing to that region. The December storm
caused more widespread flooding and c
oastal damage, and resulted in around
Dollars 650m of insured claims.
The la
test disaster comes after a run of heavy catastrophe losses for big US
prope
rty-casualty insurers and will exasperate the financial pressures on
the ind
ustry. The bomb blast under New York's World Trade Centre complex
this month
 is estimated to have caused over Dollars 1bn in insured damages,
while Hurr
icane Andrew produced a record-breaking Dollars 16bn-worth of
claims.
In Flo
rida, high winds battered grapefruit and orange crops, and frosts on
Sunday 
and yesterday caused scattered damage to the fragile flowers that
form next 
year's harvest, according to Mr Bobby McKown, of Florida Citrus
Mutual, the 
state's largest growers' organisation. The damage was 'minor' in
comparison 
to storms and freezes that devastated Florida citrus in the
1980s, he said.

Storms lift sugar price, Commodities Page
</TEXT>
<XX>
Countries:-
</XX>
<CN
>USZ  United States of America.
</CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire
, Marine, and Casualty Insurance.
    P99   Nonclassifiable Establishments.

</IN>
<XX>
Types:-
</XX>
<TP>RES  Natural resources.
    INS  Insurance.
</T
P>
<PUB>The Financial Times </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 57 ==============================================
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zfind "(topic @ {storm hurricanes typhoons damage insurers list})"

============= Transaction # 58 ==============================================
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============= Transaction # 59 ==============================================
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<DOC>
<DOCNO>FT944-12299</DOCNO>
<PROFILE>_AN-EKBD9AC3FT</PROFILE>
<DATE>941
102
</DATE>
<HEADLINE> FT  02 NOV 94 / Business and the Environment: Insurer
s in a storm </HEADLINE>
<BYLINE>    By NANCY DUNNE </BYLINE>
<TEXT>
Fifteen
 catastrophic hurricanes, floods and storms cost worldwide insurers
more tha
n Dollars 80bn (Pounds 50bn) since a period of weather extremes set
in five 
years ago, according to an article in the latest World Watch
Institute's jou
rnal.
In 1992, Hurricane Andrew struck Florida and set a new record for dama
ges at
Dollars 25bn. The Mississippi floods in 1993 cost Dollars 12bn. Europ
e was
hit by four severe windstorms in 1990 which accumulated damages of Dol
lars
10bn. Japan was struck in 1991 by Typhoon Mireille with nearly Dollars 
5bn
in damages.
As the damages mount, insurers have begun to take seriously 
the global
warming theory advanced by many scientists. The fear is that the 
warming,
spurred by 'greenhouse gases', produced by fossil fuels, could seri
ously
disrupt the world's atmospheric and oceanic systems.
Lack of agreement
 in the scientific community has made the insurers wary.
But their interest 
is being applauded by environmentalists who see the
insurers as a potential 
counterweight to the power of the oil and coal
interests in the global warmi
ng debate.
Christopher Flavin, author of the World Watch article, is urging 
the
insurers to enter the struggle over climate policy. 'Few industries are

capable of doing battle with the likes of the fossil fuel lobby. But the
ins
urance industry is,' he says. 'On a worldwide basis the two are of
roughly c
omparable size and potential political clout.'
The insurance industry could,
 for example, push government to tighten energy
efficiency rules for new bui
ldings. It could actively lobby for a stronger
global climate pact.
It could
 also use its investment capacity. 'If they (companies) were to dump
some of
 their stocks in oil and coal companies or actively invest some of
their fun
ds in new, less carbon-intensive energy technologies (forming a
sort of clim
ate venture fund), insurance companies could spur the
development of a less 
threatening energy system,' says Flavin.
Unless the industry begins to use i
ts clout in the struggle over climate
policy, its future 'is likely to be st
ormy indeed', said Flavin.
</TEXT>
<XX>
Countries:-
</XX>
<CN>XAZ  World.
</
CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Casualty Insurance.

    P951  Environmental Quality.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment 
& Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 18 </PA
GE>
</DOC>

============= Transaction # 60 ==============================================
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<DOC>
<DOCNO>FT932-7277</DOCNO>
<PROFILE>_AN-DEYCHACEFT</PROFILE>
<DATE>9305
25
</DATE>
<HEADLINE> FT  25 MAY 93 / Insurers told to cut storm cover </HEA
DLINE>
<BYLINE>    By RICHARD LAPPER </BYLINE>
<TEXT>
INSURERS could come un
der pressure to reduce cover for storm damage to
homes, a conference on glob
al warming and catastrophic weather losses was
told yesterday.
Mr Jeremy Hin
dle, a senior underwriter with Swiss Re, the world's second
largest reinsura
nce company, said that the excess (the amount a policyholder
pays of any cla
im) on household buildings policies 'must be raised to Pounds
250 immediatel
y, with a move to Pounds 1,000 being the target.'
Swiss Re is one of a numbe
r of reinsurers providing cover to UK insurers.
Insurers have introduced hig
her excesses for subsidence but for most claims
householders pay a compulsor
y excess of about Pounds 50. Some insurers offer
lower premiums for customer
s who choose to take a higher excess.
Household insurance premiums have rise
n in recent years, partly reflecting
steep rises in rates charged by reinsur
ers to insurance companies.
Mr Hindle told the conference, organised by envi
ronmental pressure group
Greenpeace, that changes in terms and conditions of
 buildings policies were
needed to reduce exposure to storm damage.
Reinsure
rs have put the UK in the list of five international regions most
exposed to
 catastrophic weather or earthquake risk, after two of the
costliest storms 
on record in the past six years.
But he said reinsurers could also press for
 further changes. Insurers could
restrict coverage to a percentage of the su
m insured in some areas or follow
the example of insurers in the Virgin Isla
nds - badly hit by hurricane Hugo
in 1989 - where excesses are a percentage 
of the property's value.
AA Insurance, one of the UK's biggest brokers, crit
icised the move to raise
excesses. Mr Noel Privett, AA head of information, 
said such it would
represent 'a huge overreaction. A more creative solution 
is called for'.
</TEXT>
<XX>
Countries:-
</XX>
<CN>GBZ  United Kingdom, EC.

</CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Casualty Insurance
.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Financial 
Times </PUB>
<PAGE> London Page 12 </PAGE>
</DOC>

============= Transaction # 61 ==============================================
Transaction #:     61       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT923-6038</DOCNO>
<PROFILE>_AN-CH1BVABKFT</PROFILE>
<DATE>9208
27
</DATE>
<HEADLINE> FT  27 AUG 92 / Hurricane batters southern US but lets
 insurers off lightly </HEADLINE>
<BYLINE>    By MARTIN DICKSON and ROBERT P
ESTON </BYLINE>
<DATELINE>    NEW YORK, LONDON </DATELINE>
<TEXT>
HURRICANE 
Andrew, claimed to be the costliest natural disaster in US
history, yesterda
y smashed its way through the state of Louisiana,
inflicting severe damage o
n rural communities but narrowly missing the
low-lying city of New Orleans.

The storm, which brought havoc to southern Florida on Monday and then headed

north-west across the Gulf of Mexico, had made landfall late on Tuesday
nig
ht some 60 miles south-west of the city in the agricultural Cajun
country.
A
lthough the damage from the hurricane's landfall in Florida on Monday was
mu
ch greater than initially esti mated, insurers' losses there are likely to
t
otal less than Dollars 1bn, well below earlier expectations, a senior
member
 of Lloyd's insurance market said yesterday.
In Louisiana, the hurricane lan
ded with wind speeds of about 120 miles per
hour and caused severe damage in
 small coastal centres such as Morgan City,
Franklin and New Iberia. Associa
ted tornadoes devastated Laplace, 20 miles
west of New Orleans.
Then, howeve
r, Andrew lost force as it moved north over land. By yesterday
afternoon, it
 had been down-graded to tropical storm, in that its sustained
windspeeds we
re below 75 mph.
Initial reports said at least one person had died, 75 been 
injured and
thousands made homeless along the Louisiana coast, after 14 conf
irmed deaths
in Florida and three in the Bahamas.
The storm caused little da
mage to Louisiana's important oil-refining
industry, although some plants ha
d to halt production when electricity was
cut.
The Lloyd's member, in close 
contact with leading insurers in Florida, said
that damage to insured proper
ty was remarkably small. More than Dollars 15bn
of damage may have been caus
ed in all, but was mostly to uninsured property,
he said.
In north Miami, da
mage is minimal. Worst affected is one hotel, whose
basement was flooded. Mo
st of the destruction occurred in a 10-mile band
across Homestead, 25 miles 
to the south of Miami, where a typical house
sells for Dollars 100,000 to Do
llars 150,000. US insurers will face a bill
in respect of such properties, b
ut Lloyd's exposure there is minimal.
Many destroyed power lines are thought
 to be uninsured, as are trees and
shrubs uprooted across a wide area. Only 
one big hotel in that area has been
badly damaged, a Holiday Inn.
Across Flo
rida, some 2m people remained without electric ity yesterday and
health offi
cials were warning the public to boil or chemically treat all
water.
Hurrica
ne Hugo, which devastated much of South Carolina in 1989, cost the
insurance
 industry some Dollars 4.2bn. Further uninsured losses may have
raised the t
otal to Dollars 6bn-Dollars 10bn.
</TEXT>
<PUB>The Financial Times </PUB>
<P
AGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 62 ==============================================
Transaction #:     62       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
                        Old Z39.50 Server ID:   0 (Astro/Math/Stat)        

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<DOC>
<DOCNO>FT923-4394</DOCNO>
<PROFILE>_AN-CIGBWADKFT</PROFILE>
<DATE>9209
07
</DATE>
<HEADLINE> FT  07 SEP 92 / Survey of Reinsurance (7): Storm warni
ng for insurers / Examining the rising trend in catastrophe losses </HEADLIN
E>
<BYLINE>    By SIMON REYNOLDS </BYLINE>
<TEXT>
KLAUS CONRAD, a member of 
Munich Re's board of management, advises insurers:
'Beware of a catastrophe 
reinsurer who asks no questions . . . who does not
ask to be paid a fair pri
ce for his goods and services; they may turn out to
be worthless.' This is s
ound advice: many reinsurers who did not ask
questions or a fair price have 
in recent years been hit by the rising trend
in catastrophe losses.
The comp
act but intense Hurricane Andrew, the first big storm of the 1992
Atlantic h
urricane season, is one more example of nature's destructive
potential. In i
ts recent review of 1991 catastrophe losses the large
international reinsure
r Swiss Re argues that 'the last five years have shown
a loss burden above t
he long-term trend, both in the natural catastrophe and
major man-made loss 
sectors. If this development continues, the world
insurance system will face
 a huge challenge.'
A similar review of natural catastrophes from Munich Re,
 the world's largest
reinsurer, 'confirms a continuation in 1991 of the tren
d that has been
observed for more than 30 years: natural disasters are becom
ing more and
more costly,' in terms of overall economic loss and insured los
s.
Since the mid-1980s insured damage from natural catastrophes have far
out
stripped significant man-made losses. Typhoon Mireille which swept Japan
for
 two days in September 1991 caused insured damage of Dollars 5.2bn - the
lar
gest insured loss from a single storm. For the third year a wind storm
produ
ced a Dollars 4bn plus loss, following Hurricane Hugo in September
1989, and
 the storm Daria in western Europe in January 1990. Insured wind
storm damag
e throughout North America totalled more than Dollars 3bn in
1991, while a b
ush fire in California in October 1991 caused an insured loss
of Dollars 1.2
bn.
Looking at man-made catastrophe losses the trend is similar: more losses

costing more money. Swiss Re's survey argues that in totalling more than
Do
llars 3.2bn in 1991 'man-made insured damage is still clearly above the
long
-term average'. The biggest losses in this category were the sinking of
the 
Sleipner A gas platform while still in Grandafjord off Stavanger, Norway
(in
sured loss Dollars 334.5m), and the fire during construction of the
London U
nderwriting Centre (Dollars 290m). The latter highlighted the
increasing ris
k of construction site losses developed countries.
According to Munich Re, i
nsurers' real claims burdens from natural disasters
in the decade to 1991 we
re eight times heavier than during the 1960s.
Figures from Swiss Re, show th
at total insured damage from natural disasters
and large man-made losses tog
ether bounced around between Dollars 2bn and
Dollars 6bn (at 1991 prices) be
tween 1970 and 1985. Since then the yearly
totals have been sharply higher: 
reaching Dollars 14bn in 1889, Dollars 18bn
in 1990, Dollars 15bn in 1991.
T
hese figures are small in comparison with the overall Dollars 1,200bn taken

in premiums each year by insurers world-wide. However, the recent trend in
f
requency and value of catastrophe losses is of concern because of its
uncert
ainty. Is the trend going to be the norm for future years? And how far
will 
the figures rise?
Piper Alpha was an old platform (169 people died in the 19
88 disaster and
the insured loss was Dollars 1.4bn) - the newer North Sea pl
atforms are
multi-billion dollar structures. Insurance market estimates of p
ossible
future natural catastrophe incidents make grim reading. A large eart
hquake
in Tokyo or San Francisco could lead to a Dollars 50-Dollars 100bn do
llar
loss. If a Hugo-intensity storm had landed farther north up the US east

coast in New York, the loss could have been twice that actually suffered.
A
ccording to Andrew Dlugolecki, chief manager operations at General
Accident,
 there are many factors driving these trends of rising cost and
frequency. O
ne significant factor may be that the weather trends of the
1950s, 1960s and
 1970s were milder than the long-term trend, and recent
storm developments a
re a return towards that longer-term trend. Other
factors raising catastroph
e losses include:
Increasing concentration of values: industries have tended
 to build
increasingly expensive plant, of higher output, with greater produ
ct
inventory on site.
Increasing business interruption (B/I): more businesse
s are buying B/I
insurance cover, and B/I insured losses are rising at a fas
ter rate than
property losses. Larger, higher output plant take longer to re
build in the
event of a disaster.
New business practices: the development of
 just-in-time (jit) techniques is
one facet of increasing dependencies betwe
en suppliers and customers. In
recognition of this more supplier/customer B/
I extensions to cover are being
purchased.
New construction techniques: fast
 track and unitary methods mean a higher
percentage of high value finished f
ixtures and fittings are on site during
earlier stages of building construct
ion, possibly a time of raised risk from
fire. Increasing population density
: cities are becoming larger and, on
average, richer. If a natural disaster 
hits, losses are increased. Much of
the loss from a large wind storm is acco
unted for by many, relatively small
claims from householders. New geographic
al areas: both industry and
populations are moving into increasingly risky a
reas, especially coastal
regions more susceptible to storms, storm surges, t
sunamis (huge sea waves).
Increasing insurance density: greater demand from 
customers has led to more
insurance purchasing. It was easy to sell wind sto
rm cover in Europe after
the 1987 and 1990 storms. A corresponding push from
 insurers selling cheaply
in a soft market added to the trend.
Changes in cl
imate: natural variation in climate alters the propensity for
climatic event
s. The jury is still out on global warming, but scientists
argue that if the
 troposphere is warming, the earth's weather system will
contain more energy
 leading to greater intensity of climatic events.
What is to be done? Mr Con
rad argues that 'private fortunes gathered over
generations, were lost by Ll
oyd's names, reinsurers mobilised their
emergency reserves, retrocessionaire
s started selling their nest eggs.
(Premiums) apparently had been too low, o
therwise one would not have lost in
five years, what it had taken 50 to coll
ect'. His solution is simple: a
return to insurance basics; premiums rates c
ommensurate with risk,
appropriate levels of deductibles, proper calculation
 of probable and
possible catastrophe scenarios, proper loss prevention, los
s mitigation, and
accumulation control.
</TEXT>
<PUB>The Financial Times </P
UB>
<PAGE> London Page 30 </PAGE>
</DOC>

============= Transaction # 63 ==============================================
Transaction #:     63       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
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<DOC>
<DOCNO>FT931-7520</DOCNO>
<PROFILE>_AN-DBXCKACQFT</PROFILE>
<DATE>9302
24
</DATE>
<HEADLINE> FT  24 FEB 93 / Business and the Environment: Weather 
wise - Typhoons, hurricanes and the threat of global warming are pushing up 
insurance rates </HEADLINE>
<BYLINE>    By RICHARD LAPPER and BRONWEN MADDOX
 </BYLINE>
<TEXT>
'WE GET zapped every five minutes,' says Richard Keeling, 
underwriter with
Lloyd's syndicate 362, reviewing the impact of recent hurri
canes, gales and
typhoons on the London insurance market.
Recent storms, eac
h more damaging than the last, culminated in last year's
hurricane Andrew, w
hich devastated parts of Louisiana and Florida and caused
losses estimated t
o be at least Dollars 16bn and perhaps as much as Dollars
20bn (Pounds 14bn)
, the United States's biggest-ever insured loss.
That has triggered tough ba
rgaining in the London insurance market and one
of the hardest 'renewal' sea
sons, as reinsurers seek to impose big rate
increases.
Most significantly, i
n a move that could lead to higher insurance rates for
many years, insurers 
are also beginning to ask whether recent storms are a
sign of global warming
 or other long-term shifts in weather patterns. The
question has led to an u
nlikely convergence with environmental pressure
groups such as Greenpeace, w
hich last month published a long report
welcoming insurers' alertness to the
 risk.
In the recent round of negotiations, brokers buying cover for US clie
nts -
who have avoided heavy increases in recent years - have found the goin
g
toughest.
However, across the board, direct insurers are now paying more f
or their
reinsurance. Keeling says that since October 1987, reinsurance rate
s have
increased by 650 per cent for European insurers, 450 per cent for US 
buyers
and by 1,000 per cent for Japanese companies.
The increases partly re
flect reinsurers' efforts to restore profitability
after heavy losses from w
eather and from other disasters such as the 1988
Piper Alpha oil rig explosi
on and the Exxon Valdez oil spill the following
year.
Both Swiss Re and Muni
ch Re, the world's two biggest reinsurers, have seen
profits dented and have
 been forced to draw deep into their reserves to meet
claims, especially fro
m the European storms of 1990. Many smaller reinsurers
have withdrawn from t
he market. More than a third of Lloyd's Names and
nearly half the syndicates
 have left the market since 1989. As competition
for business has dwindled, 
bigger players have found it easier to force
through rate increases.
Underwr
iters are also now beginning to take a deeper look at the risk of
storm dama
ge. They recognise that denser population in potentially exposed
regions, su
ch as the south-eastern coast of the US, is partly responsible
for the rise 
in losses. 'Windstorm' cover has also become a more common
element of househ
olders' policies over the last two decades in most
countries.
And increasing
ly many are questioning whether the recent increases in land
and sea tempera
tures are leading to greater atmospheric instability and more
frequent and i
ntense winds. Scientists have warned for several years that
gases such as ca
rbon dioxide, emitted from burning fossil fuels, could cause
global warming.

The United Nation's Intergovernmental Panel on Climate Change, set up to
in
vestigate the phenomenon, has suggested the average increase could be
somewh
ere between 1.5'C and 3.5'C over the next 100 years.
However, scientists hav
e emphasised there is still uncertainty about the
processes involved - the m
odels find it hard to take account of clouds,
which could slow down warming.
 They also say it is impossible to conclude
from recent storms and warm summ
ers that climate change is already
happening.
Despite scientific uncertainty
, insurers feel they need to protect
themselves. Walter Kielholz, general ma
nager of Swiss Re, one of the first
insurance companies to question whether 
global warming could be responsible
for worsening weather, agrees that 'the 
statistical data is too short to
conclusively prove that there is a trend'. 
But he adds: 'It might just be a
hiccup but we can't afford to wait for the 
long-term before taking action.'
Research commissioned by Keeling and severa
l other Lloyd's underwriters by
the University of East Anglia's climatology 
department also concludes: 'The
possibility that the trend (of more frequent
 gales in north-western Europe)
is related to global warming cannot be rejec
ted.' Insurers should assume
that 'gale frequencies will remain at the level
 of the 1980s' and could rise
further, the report says.
In Greenpeace's rece
nt study, the pressure group called for insurers to join
the lobby for limit
s on the emission of 'greenhouse gases'. Keeling
acknowledges: 'We have to d
o something constructive but the insurance
industry will never be a lobby. W
e are too diffused.'
Instead, as well as increasing rates insurers have begu
n to toughen the
terms of storm insurance. Kielholz says that since 1990 Swi
ss Re has begun
to isolate the risk of 'windstorm' from other exposures it u
nderwrites.
The group now likes to cover windstorm through an excess of loss
 reinsurance
contract (in which the reinsurer covers a tranche of risk up to
 a pre-set
limit) rather than by covering it alongside other risks as part o
f a
proportional reinsurance deal (in which the reinsurer accepts an agreed

percentage of exposure).
'Reinsurers have become more and more reluctant to 
include windstorm in
proportional property treaties,' says Kielholz.
Reinsur
ers are also urging direct insurers to make policyholders pay the
first port
ion of any loss themselves, as an incentive to protect their
property agains
t storms. Householders would then be more likely to carry out
essential main
tenance and commercial customers to follow building codes more
strictly, the
y argue. During Hurricane Andrew many new buildings, especially
those with s
teel frames and metal casings, proved to be particularly
vulnerable to wind 
damage, according to Swiss Re.
Higher rates and tougher terms are the insura
nce industry's perhaps
unsurprising response to recent storms and the potent
ial threat of global
warming.
The environmental movement has shown itself re
luctant to acknowledge
scientific doubts about climate change, while climato
logists - who might
stress that uncertainty - have few reasons to get involv
ed in debates on
insurance charges. Customers may have to hope the new highe
r rates help
preserve some of the financially weaker groups, and so preserve
 competition
in the industry.
 ---------------------------------------------
--------------------
                   THE COST OF RECENT STORMS
 ---------
--------------------------------------------------------
Aug 1992    US     
            Cyclone Iniki      Dollars  1.4bn
Aug 1992    US                
 Hurricane Andrew   Dollars 20.0bn
Sep 1991    Japan              Typhoon Mi
reille   Dollars  4.8bn
Jul 1990    US                 Colorado storms    Do
llars  1.0bn
Feb 1990    NW Europe          Windstorm Wibke    Dollars  1.3b
n
Feb 1990    NW Europe          Windstorm Vivian   Dollars  3.2bn
Feb 1990 
   NW Europe          Windstorm Herta    Dollars  1.3bn
Jan 1990    NW Europ
e          Windstorm Daria    Dollars  4.6bn
Sep 1989    US                 
Hurricane Hugo     Dollars  5.8bn
Oct 1987    NW Europe          Un-named wi
ndstorm Dollars  2.5bn
 ----------------------------------------------------
-------------
Source: Greenpeace
 ------------------------------------------
-----------------------
</TEXT>
<XX>
Countries:-
</XX>
<CN>GBZ  United Kingd
om, EC.
</CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Casualty I
nsurance.
    P6411 Insurance Agents, Brokers, and Service.
</IN>
<XX>
Types
:-
</XX>
<TP>RES  Natural resources.
    COSTS  Costs & Prices.
    MKTS  Ma
rket data.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 14 </PAG
E>
</DOC>

============= Transaction # 64 ==============================================
Transaction #:     64       Transaction Code:  14 (Search Results Displayed)

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============= Transaction # 65 ==============================================
Transaction #:     65       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT944-9529</DOCNO>
<PROFILE>_AN-EKOENAFFFT</PROFILE>
<DATE>9411
15
</DATE>
<HEADLINE> FT  15 NOV 94 / International Company News: A listing 
in the time of calamity - Hanover Re has a lot riding on its partial float <
/HEADLINE>
<BYLINE>    By ANDREW FISHER </BYLINE>
<TEXT>
The first stock mar
ket listing of a German reinsurance company for 33 years
 -that of Hanover R
e, to raise DM530m (Dollars 353m) - comes at a time of
more frequent natural
 disasters, higher premiums and a more selective
approach in the industry to
 new business.
The issue is also one of the first with shares in nominal DM5
 units instead
of the usual DM50. These are now allowed under regulations ai
med at
encouraging private investors to buy more shares. Next to Switzerland
,
shares in Germany are the most expensive in Europe.
With its sister compan
y, Eisen und Stahl Ruckversicherung, Hanover Re is
Germany's second largest 
and the world's fifth largest reinsurance concern.
The new issue, in which 2
5 per cent of the capital is being sold, is the
seventh largest in Germany s
ince 1983.
Hanover Re and the issuing consortium, headed by Commerzbank, hop
e to
convince German and foreign investors that the company's policy of forg
oing
growth in premium income in high-risk areas and concentrating on
profit
ability will continue to pay off.
In deference to some analysts who thought 
the issue price might be too high
for many investors, especially foreigners,
 the voting shares are offered at
DM75 each for subscription from November 1
8 to 22. Some initial estimates
were nearer DM90.
Mr Erich Coenen, a Commerz
bank director, said yesterday the issue price was
attractive, both 'opticall
y' compared with the high price of other
reinsurance groups - Munich Re stoo
d at DM2,750 - and 'analytically': the
price-earnings ratio of 15.8 based on
 expected 1995 earnings is well under
the German sector average.
With Eisen 
und Stahl, which is more domestically-oriented than Hanover Re,
gross premiu
m income last year was DM5.3bn, a rise of 30 per cent. The
underwriting loss
 fell to DM122m from DM263m and net profits shot up by
nearly 200 per cent t
o DM125m. Group investments totalled DM10.3bn.
Mr Michael Reischel, Hanover 
Re's chief executive, does not expect growth to
be as spectacular this year 
or next.
'We have grown enormously over the past three years,' he said. But 
the group
had resisted the temptation to expand liability levels - risks are
 simply
too high in certain areas. 'So we expect lower growth over the next 
few
years. We are cutting back where necessary,' says Mr Reischel.
The messa
ge is the same as that last week from Munich Re, the world's
biggest reinsur
ance concern. Because disasters such as earthquakes, floods
and typhoons hav
e become more frequent, premiums have escalated. 'Assets are
more highly con
centrated,' said Mr Reischel. 'Fifteen years ago, Hurricane
Andrew in Florid
a would have caused a lot less damage.'
The hurricane was the largest disast
er, in terms of insured damage, to have
hit the industry. January's earthqua
ke near Los Angeles was the second
worst.
As an example of risk areas where 
premiums have tended to rise steeply, Mr
Reischel cites Japan where Typhoon 
Mireille caused heavy damage in 1991.
'The trend for natural disasters seems
 to be on the rise,' says Mr Reischel.
More damage and more insurance payout
s are definitely to be expected.
Because the industry spreads its exposure i
nternationally, this trend
affects premiums in all sectors, not just those w
here the risk is severest.
'Insurance customers, whether private or corporat
e, have to pay more if they
want cover,' says Mr Reischel. 'The reinsurance 
industry can't create money
by magic.'
In the five years to 1993, premiums p
aid for worldwide catastrophe risks
totalled nearly Dollars 20bn, says Mr He
rbert Haas, a director of Hanover
Re. Damage payouts totalled just over Doll
ars 18bn, but brokerage, interest
and other costs pushed this up to Dollars 
25bn, leaving the industry with an
overall deficit.
Thus, many reinsurers an
d primary insurance companies have pulled out or
been forced out of the rein
surance business. Mr Reischel puts the figure at
more than 100 since 1990. N
ew reinsurance capacity is available from
Bermuda, but Mr Reischel sees this
 as positive - 'since new investors are
only looking for returns, they will 
hopefully prevent a rates war'.
Because it was founded as recently as 1966, 
he says Hanover Re has been
spared some of the worst calamities, such as cla
ims on asbestos or pollution
liability. It has also kept out of the over-cro
wded London and Singapore
reinsurance markets. However, it is raising its pr
esence in Asia and
Australia, where growth is high.
The company has no acqui
sitions in mind after buying NRG Victory Australia
Life Reinsurance last yea
r.
Hanover Re will use its DM230m share of the issue proceeds to lift its 4 
per
cent stake in Eisen und Stahl, with which it does business on a group ba
sis,
to a 53.9 per cent majority holding. The remainder will go to its paren
t,
Haftpflichtverband der Deutschen Industrie (HDI), a mutually-owned insure
r.
</TEXT>
<XX>
Companies:-
</XX>
<CO>Hanover Reinsurance.
</CO>
<XX>
Countr
ies:-
</XX>
<CN>DEZ  Germany, EC.
</CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fi
re, Marine, and Casualty Insurance.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comme
nt & Analysis.
    FIN  Share issues.
</TP>
<PUB>The Financial Times </PUB>

<PAGE> London Page 28 </PAGE>
</DOC>

============= Transaction # 66 ==============================================
Transaction #:     66       Transaction Code:   8 (Mixed Bool./Dir. Rank Search)

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
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zfind "(topic @ {storm hurricanes typhoons damage}) not (title {taiwan})"

============= Transaction # 67 ==============================================
Transaction #:     67       Transaction Code:  14 (Search Results Displayed)

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
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============= Transaction # 68 ==============================================
Transaction #:     68       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
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<DOC>
<DOCNO>FT931-7520</DOCNO>
<PROFILE>_AN-DBXCKACQFT</PROFILE>
<DATE>9302
24
</DATE>
<HEADLINE> FT  24 FEB 93 / Business and the Environment: Weather 
wise - Typhoons, hurricanes and the threat of global warming are pushing up 
insurance rates </HEADLINE>
<BYLINE>    By RICHARD LAPPER and BRONWEN MADDOX
 </BYLINE>
<TEXT>
'WE GET zapped every five minutes,' says Richard Keeling, 
underwriter with
Lloyd's syndicate 362, reviewing the impact of recent hurri
canes, gales and
typhoons on the London insurance market.
Recent storms, eac
h more damaging than the last, culminated in last year's
hurricane Andrew, w
hich devastated parts of Louisiana and Florida and caused
losses estimated t
o be at least Dollars 16bn and perhaps as much as Dollars
20bn (Pounds 14bn)
, the United States's biggest-ever insured loss.
That has triggered tough ba
rgaining in the London insurance market and one
of the hardest 'renewal' sea
sons, as reinsurers seek to impose big rate
increases.
Most significantly, i
n a move that could lead to higher insurance rates for
many years, insurers 
are also beginning to ask whether recent storms are a
sign of global warming
 or other long-term shifts in weather patterns. The
question has led to an u
nlikely convergence with environmental pressure
groups such as Greenpeace, w
hich last month published a long report
welcoming insurers' alertness to the
 risk.
In the recent round of negotiations, brokers buying cover for US clie
nts -
who have avoided heavy increases in recent years - have found the goin
g
toughest.
However, across the board, direct insurers are now paying more f
or their
reinsurance. Keeling says that since October 1987, reinsurance rate
s have
increased by 650 per cent for European insurers, 450 per cent for US 
buyers
and by 1,000 per cent for Japanese companies.
The increases partly re
flect reinsurers' efforts to restore profitability
after heavy losses from w
eather and from other disasters such as the 1988
Piper Alpha oil rig explosi
on and the Exxon Valdez oil spill the following
year.
Both Swiss Re and Muni
ch Re, the world's two biggest reinsurers, have seen
profits dented and have
 been forced to draw deep into their reserves to meet
claims, especially fro
m the European storms of 1990. Many smaller reinsurers
have withdrawn from t
he market. More than a third of Lloyd's Names and
nearly half the syndicates
 have left the market since 1989. As competition
for business has dwindled, 
bigger players have found it easier to force
through rate increases.
Underwr
iters are also now beginning to take a deeper look at the risk of
storm dama
ge. They recognise that denser population in potentially exposed
regions, su
ch as the south-eastern coast of the US, is partly responsible
for the rise 
in losses. 'Windstorm' cover has also become a more common
element of househ
olders' policies over the last two decades in most
countries.
And increasing
ly many are questioning whether the recent increases in land
and sea tempera
tures are leading to greater atmospheric instability and more
frequent and i
ntense winds. Scientists have warned for several years that
gases such as ca
rbon dioxide, emitted from burning fossil fuels, could cause
global warming.

The United Nation's Intergovernmental Panel on Climate Change, set up to
in
vestigate the phenomenon, has suggested the average increase could be
somewh
ere between 1.5'C and 3.5'C over the next 100 years.
However, scientists hav
e emphasised there is still uncertainty about the
processes involved - the m
odels find it hard to take account of clouds,
which could slow down warming.
 They also say it is impossible to conclude
from recent storms and warm summ
ers that climate change is already
happening.
Despite scientific uncertainty
, insurers feel they need to protect
themselves. Walter Kielholz, general ma
nager of Swiss Re, one of the first
insurance companies to question whether 
global warming could be responsible
for worsening weather, agrees that 'the 
statistical data is too short to
conclusively prove that there is a trend'. 
But he adds: 'It might just be a
hiccup but we can't afford to wait for the 
long-term before taking action.'
Research commissioned by Keeling and severa
l other Lloyd's underwriters by
the University of East Anglia's climatology 
department also concludes: 'The
possibility that the trend (of more frequent
 gales in north-western Europe)
is related to global warming cannot be rejec
ted.' Insurers should assume
that 'gale frequencies will remain at the level
 of the 1980s' and could rise
further, the report says.
In Greenpeace's rece
nt study, the pressure group called for insurers to join
the lobby for limit
s on the emission of 'greenhouse gases'. Keeling
acknowledges: 'We have to d
o something constructive but the insurance
industry will never be a lobby. W
e are too diffused.'
Instead, as well as increasing rates insurers have begu
n to toughen the
terms of storm insurance. Kielholz says that since 1990 Swi
ss Re has begun
to isolate the risk of 'windstorm' from other exposures it u
nderwrites.
The group now likes to cover windstorm through an excess of loss
 reinsurance
contract (in which the reinsurer covers a tranche of risk up to
 a pre-set
limit) rather than by covering it alongside other risks as part o
f a
proportional reinsurance deal (in which the reinsurer accepts an agreed

percentage of exposure).
'Reinsurers have become more and more reluctant to 
include windstorm in
proportional property treaties,' says Kielholz.
Reinsur
ers are also urging direct insurers to make policyholders pay the
first port
ion of any loss themselves, as an incentive to protect their
property agains
t storms. Householders would then be more likely to carry out
essential main
tenance and commercial customers to follow building codes more
strictly, the
y argue. During Hurricane Andrew many new buildings, especially
those with s
teel frames and metal casings, proved to be particularly
vulnerable to wind 
damage, according to Swiss Re.
Higher rates and tougher terms are the insura
nce industry's perhaps
unsurprising response to recent storms and the potent
ial threat of global
warming.
The environmental movement has shown itself re
luctant to acknowledge
scientific doubts about climate change, while climato
logists - who might
stress that uncertainty - have few reasons to get involv
ed in debates on
insurance charges. Customers may have to hope the new highe
r rates help
preserve some of the financially weaker groups, and so preserve
 competition
in the industry.
 ---------------------------------------------
--------------------
                   THE COST OF RECENT STORMS
 ---------
--------------------------------------------------------
Aug 1992    US     
            Cyclone Iniki      Dollars  1.4bn
Aug 1992    US                
 Hurricane Andrew   Dollars 20.0bn
Sep 1991    Japan              Typhoon Mi
reille   Dollars  4.8bn
Jul 1990    US                 Colorado storms    Do
llars  1.0bn
Feb 1990    NW Europe          Windstorm Wibke    Dollars  1.3b
n
Feb 1990    NW Europe          Windstorm Vivian   Dollars  3.2bn
Feb 1990 
   NW Europe          Windstorm Herta    Dollars  1.3bn
Jan 1990    NW Europ
e          Windstorm Daria    Dollars  4.6bn
Sep 1989    US                 
Hurricane Hugo     Dollars  5.8bn
Oct 1987    NW Europe          Un-named wi
ndstorm Dollars  2.5bn
 ----------------------------------------------------
-------------
Source: Greenpeace
 ------------------------------------------
-----------------------
</TEXT>
<XX>
Countries:-
</XX>
<CN>GBZ  United Kingd
om, EC.
</CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Casualty I
nsurance.
    P6411 Insurance Agents, Brokers, and Service.
</IN>
<XX>
Types
:-
</XX>
<TP>RES  Natural resources.
    COSTS  Costs & Prices.
    MKTS  Ma
rket data.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 14 </PAG
E>
</DOC>

============= Transaction # 69 ==============================================
Transaction #:     69       Transaction Code:   6 (Direct Rank Search)     

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
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zfind "(topic @ {storm hurricanes typhoons damage})"

============= Transaction # 70 ==============================================
Transaction #:     70       Transaction Code:  14 (Search Results Displayed)

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
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============= Transaction # 71 ==============================================
Transaction #:     71       Transaction Code:  19 (Record Selected)        

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT944-12299</DOCNO>
<PROFILE>_AN-EKBD9AC3FT</PROFILE>
<DATE>941
102
</DATE>
<HEADLINE> FT  02 NOV 94 / Business and the Environment: Insurer
s in a storm </HEADLINE>
<BYLINE>    By NANCY DUNNE </BYLINE>
<TEXT>
Fifteen
 catastrophic hurricanes, floods and storms cost worldwide insurers
more tha
n Dollars 80bn (Pounds 50bn) since a period of weather extremes set
in five 
years ago, according to an article in the latest World Watch
Institute's jou
rnal.
In 1992, Hurricane Andrew struck Florida and set a new record for dama
ges at
Dollars 25bn. The Mississippi floods in 1993 cost Dollars 12bn. Europ
e was
hit by four severe windstorms in 1990 which accumulated damages of Dol
lars
10bn. Japan was struck in 1991 by Typhoon Mireille with nearly Dollars 
5bn
in damages.
As the damages mount, insurers have begun to take seriously 
the global
warming theory advanced by many scientists. The fear is that the 
warming,
spurred by 'greenhouse gases', produced by fossil fuels, could seri
ously
disrupt the world's atmospheric and oceanic systems.
Lack of agreement
 in the scientific community has made the insurers wary.
But their interest 
is being applauded by environmentalists who see the
insurers as a potential 
counterweight to the power of the oil and coal
interests in the global warmi
ng debate.
Christopher Flavin, author of the World Watch article, is urging 
the
insurers to enter the struggle over climate policy. 'Few industries are

capable of doing battle with the likes of the fossil fuel lobby. But the
ins
urance industry is,' he says. 'On a worldwide basis the two are of
roughly c
omparable size and potential political clout.'
The insurance industry could,
 for example, push government to tighten energy
efficiency rules for new bui
ldings. It could actively lobby for a stronger
global climate pact.
It could
 also use its investment capacity. 'If they (companies) were to dump
some of
 their stocks in oil and coal companies or actively invest some of
their fun
ds in new, less carbon-intensive energy technologies (forming a
sort of clim
ate venture fund), insurance companies could spur the
development of a less 
threatening energy system,' says Flavin.
Unless the industry begins to use i
ts clout in the struggle over climate
policy, its future 'is likely to be st
ormy indeed', said Flavin.
</TEXT>
<XX>
Countries:-
</XX>
<CN>XAZ  World.
</
CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Casualty Insurance.

    P951  Environmental Quality.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment 
& Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 18 </PA
GE>
</DOC>

============= Transaction # 72 ==============================================
Transaction #:     72       Transaction Code:  19 (Record Selected)        

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
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<DOC>
<DOCNO>FT931-7520</DOCNO>
<PROFILE>_AN-DBXCKACQFT</PROFILE>
<DATE>9302
24
</DATE>
<HEADLINE> FT  24 FEB 93 / Business and the Environment: Weather 
wise - Typhoons, hurricanes and the threat of global warming are pushing up 
insurance rates </HEADLINE>
<BYLINE>    By RICHARD LAPPER and BRONWEN MADDOX
 </BYLINE>
<TEXT>
'WE GET zapped every five minutes,' says Richard Keeling, 
underwriter with
Lloyd's syndicate 362, reviewing the impact of recent hurri
canes, gales and
typhoons on the London insurance market.
Recent storms, eac
h more damaging than the last, culminated in last year's
hurricane Andrew, w
hich devastated parts of Louisiana and Florida and caused
losses estimated t
o be at least Dollars 16bn and perhaps as much as Dollars
20bn (Pounds 14bn)
, the United States's biggest-ever insured loss.
That has triggered tough ba
rgaining in the London insurance market and one
of the hardest 'renewal' sea
sons, as reinsurers seek to impose big rate
increases.
Most significantly, i
n a move that could lead to higher insurance rates for
many years, insurers 
are also beginning to ask whether recent storms are a
sign of global warming
 or other long-term shifts in weather patterns. The
question has led to an u
nlikely convergence with environmental pressure
groups such as Greenpeace, w
hich last month published a long report
welcoming insurers' alertness to the
 risk.
In the recent round of negotiations, brokers buying cover for US clie
nts -
who have avoided heavy increases in recent years - have found the goin
g
toughest.
However, across the board, direct insurers are now paying more f
or their
reinsurance. Keeling says that since October 1987, reinsurance rate
s have
increased by 650 per cent for European insurers, 450 per cent for US 
buyers
and by 1,000 per cent for Japanese companies.
The increases partly re
flect reinsurers' efforts to restore profitability
after heavy losses from w
eather and from other disasters such as the 1988
Piper Alpha oil rig explosi
on and the Exxon Valdez oil spill the following
year.
Both Swiss Re and Muni
ch Re, the world's two biggest reinsurers, have seen
profits dented and have
 been forced to draw deep into their reserves to meet
claims, especially fro
m the European storms of 1990. Many smaller reinsurers
have withdrawn from t
he market. More than a third of Lloyd's Names and
nearly half the syndicates
 have left the market since 1989. As competition
for business has dwindled, 
bigger players have found it easier to force
through rate increases.
Underwr
iters are also now beginning to take a deeper look at the risk of
storm dama
ge. They recognise that denser population in potentially exposed
regions, su
ch as the south-eastern coast of the US, is partly responsible
for the rise 
in losses. 'Windstorm' cover has also become a more common
element of househ
olders' policies over the last two decades in most
countries.
And increasing
ly many are questioning whether the recent increases in land
and sea tempera
tures are leading to greater atmospheric instability and more
frequent and i
ntense winds. Scientists have warned for several years that
gases such as ca
rbon dioxide, emitted from burning fossil fuels, could cause
global warming.

The United Nation's Intergovernmental Panel on Climate Change, set up to
in
vestigate the phenomenon, has suggested the average increase could be
somewh
ere between 1.5'C and 3.5'C over the next 100 years.
However, scientists hav
e emphasised there is still uncertainty about the
processes involved - the m
odels find it hard to take account of clouds,
which could slow down warming.
 They also say it is impossible to conclude
from recent storms and warm summ
ers that climate change is already
happening.
Despite scientific uncertainty
, insurers feel they need to protect
themselves. Walter Kielholz, general ma
nager of Swiss Re, one of the first
insurance companies to question whether 
global warming could be responsible
for worsening weather, agrees that 'the 
statistical data is too short to
conclusively prove that there is a trend'. 
But he adds: 'It might just be a
hiccup but we can't afford to wait for the 
long-term before taking action.'
Research commissioned by Keeling and severa
l other Lloyd's underwriters by
the University of East Anglia's climatology 
department also concludes: 'The
possibility that the trend (of more frequent
 gales in north-western Europe)
is related to global warming cannot be rejec
ted.' Insurers should assume
that 'gale frequencies will remain at the level
 of the 1980s' and could rise
further, the report says.
In Greenpeace's rece
nt study, the pressure group called for insurers to join
the lobby for limit
s on the emission of 'greenhouse gases'. Keeling
acknowledges: 'We have to d
o something constructive but the insurance
industry will never be a lobby. W
e are too diffused.'
Instead, as well as increasing rates insurers have begu
n to toughen the
terms of storm insurance. Kielholz says that since 1990 Swi
ss Re has begun
to isolate the risk of 'windstorm' from other exposures it u
nderwrites.
The group now likes to cover windstorm through an excess of loss
 reinsurance
contract (in which the reinsurer covers a tranche of risk up to
 a pre-set
limit) rather than by covering it alongside other risks as part o
f a
proportional reinsurance deal (in which the reinsurer accepts an agreed

percentage of exposure).
'Reinsurers have become more and more reluctant to 
include windstorm in
proportional property treaties,' says Kielholz.
Reinsur
ers are also urging direct insurers to make policyholders pay the
first port
ion of any loss themselves, as an incentive to protect their
property agains
t storms. Householders would then be more likely to carry out
essential main
tenance and commercial customers to follow building codes more
strictly, the
y argue. During Hurricane Andrew many new buildings, especially
those with s
teel frames and metal casings, proved to be particularly
vulnerable to wind 
damage, according to Swiss Re.
Higher rates and tougher terms are the insura
nce industry's perhaps
unsurprising response to recent storms and the potent
ial threat of global
warming.
The environmental movement has shown itself re
luctant to acknowledge
scientific doubts about climate change, while climato
logists - who might
stress that uncertainty - have few reasons to get involv
ed in debates on
insurance charges. Customers may have to hope the new highe
r rates help
preserve some of the financially weaker groups, and so preserve
 competition
in the industry.
 ---------------------------------------------
--------------------
                   THE COST OF RECENT STORMS
 ---------
--------------------------------------------------------
Aug 1992    US     
            Cyclone Iniki      Dollars  1.4bn
Aug 1992    US                
 Hurricane Andrew   Dollars 20.0bn
Sep 1991    Japan              Typhoon Mi
reille   Dollars  4.8bn
Jul 1990    US                 Colorado storms    Do
llars  1.0bn
Feb 1990    NW Europe          Windstorm Wibke    Dollars  1.3b
n
Feb 1990    NW Europe          Windstorm Vivian   Dollars  3.2bn
Feb 1990 
   NW Europe          Windstorm Herta    Dollars  1.3bn
Jan 1990    NW Europ
e          Windstorm Daria    Dollars  4.6bn
Sep 1989    US                 
Hurricane Hugo     Dollars  5.8bn
Oct 1987    NW Europe          Un-named wi
ndstorm Dollars  2.5bn
 ----------------------------------------------------
-------------
Source: Greenpeace
 ------------------------------------------
-----------------------
</TEXT>
<XX>
Countries:-
</XX>
<CN>GBZ  United Kingd
om, EC.
</CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Casualty I
nsurance.
    P6411 Insurance Agents, Brokers, and Service.
</IN>
<XX>
Types
:-
</XX>
<TP>RES  Natural resources.
    COSTS  Costs & Prices.
    MKTS  Ma
rket data.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 14 </PAG
E>
</DOC>

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============= Transaction # 75 ==============================================
Transaction #:     75       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT923-4398</DOCNO>
<PROFILE>_AN-CIGBWADGFT</PROFILE>
<DATE>9209
07
</DATE>
<HEADLINE> FT  07 SEP 92 / Survey of Reinsurance (1): Sailing int
o calmer seas - Reinsurers meet in Monte Carlo this week with the damage cau
sed by Hurricane Andrew in America still fresh in their minds / A look at an
 industry that is struggling to recover after several years of turmoil </HEA
DLINE>
<BYLINE>    By RICHARD LAPPER </BYLINE>
<TEXT>
ORDER OF A sort appear
s to be returning to the world's reinsurance markets
after several years of 
turmoil. Between 1987 and 1991, fierce rate
competition, over-capacity and a
 sharp increase in the number and cost of
catastrophes combined to depress t
he profits of larger companies and pushed
many smaller players out of busine
ss.
At this week's annual rendezvous in Monte Carlo, therefore, reinsurers -

their minds freshly concentrated by the damage wreaked by hurricane Andrew

in the southern US last month - are certain to be spelling out the same
mess
age to reinsurance buyers: premium rates must be set at levels that take
int
o account the level of risk.
That is likely to mean a further hardening in t
he market when reinsurance
buyers renew their annual policies towards the en
d of this year.
The bargaining will be simplest in the proportional market, 
in which giant
companies such as Swiss Re and Germany's Munich Re reinsure a
n agreed
percentage of the potential liabilities in exchange for the same pr
oportion
of the original premium, less a commission payment.
In the wake of 
poor results in 1990 and 1991, reinsurers may continue to
press direct insur
ers to increase rates and will seek reductions in the
commission paid to ins
urers to offset the costs of acquiring the original
business.
But it is in t
he non-proportional market, where reinsurers obtain cover
providing protecti
on above a set level of claims, that the impact of the
recent losses is bein
g felt most strongly.
After nearly a decade in which the brokers who buy rei
nsurance on behalf of
insurance companies have held the upper hand in settin
g rates, terms and
conditions, power is returning to the biggest and best ca
pitalised
reinsurance companies in Europe and North America, including Munic
h Re, and
Swiss Re.
Mr Patrick Peugot, chief executive of SCOR, France's big
gest reinsurer and
now the seventh biggest reinsurer in the world, says that
 the main groups
now have the oppor-tunity to enforce greater discipline in 
the market at a
time when the demand for catastrophe reinsurance is increasi
ng.
'We should be able to set rates that will provide cover for the medium a
nd
long-term not go up and down all the time. That is one of our aims - to
s
tabilise the market,' he says.
One of the critical factors in this shift in 
power has been the impact of
rate competition and catastrophe in London, the
 world's biggest reinsurance
market.
The effect has been particularly severe
 in an esoteric corner of the market
known as London Market Excess or LMX, a
 reinsurance of reinsurance, or
retrocession market, which has trad-itionall
y provided high level
catastrophe protection for the world's insurers and re
insurers.
During the 1980s several dozen syndicates and com-panies specialis
ed in
reinsuring each others' reinsurance exposures.
By 1991 the market had 
been destroyed by a series of catastrophes, beginning
with the UK storms of 
October 1987.
Reinsurance companies such as Victory, now part of the Dutch g
roup NRG, and
the UK's Mercantile and General Re have also suffered heavily 
from these and
other large losses sustained by the market between 1987 and 1
991.
At Lloyd's of London the losses cut a swathe through the market, sendin
g
dozens of syndicates, and thousands of the individual Names whose wealth
p
rovides the market's capital base, spinning out of business.
In 1989, when t
he market was hit by hurricane Hugo, the Exxon Valdez oil
spill, the San Fra
ncisco earthquake and a Dollars 1bn plus explosion at a
petroleum plant in T
exas, 401 Lloyd's syndicates sustained record losses of
Pounds 2.06bn, but n
early half that amount was borne by fewer than a dozen
syndicates, which spe
cialised in retrocession business. Specialist
retrocession syndicates manage
d by Gooda Walker agency sustained losses of
nearly Pounds 500m, for example
.
By 1992, the number of Lloyd's syndicates had fallen to 278. Between 1988

and 1992 nearly a third of Lloyd's Names resigned, reducing total membership

of the market from over 30,000 to 22,300.
As a result of the collapse of th
e retrocession market, companies and
syndicates specialising in non-proporti
onal reinsurance have found much
greater difficulty in offsetting their own 
exposures.
Forced to retain more risk on their own books, reinsurers have ha
d to
examine their exposures more carefully, increasing rates to more realis
tic
levels and often making cover available at much higher levels than hithe
rto.
Under these pressures many companies have retreated from the market.
Co
mpanies such as Yasuda have withdrawn from London, and many larger players
 
-such as Skandia, Sweden's biggest insurer - are seeking to reduce their
inv
olvement altogether.
Mr Peugot says that the inability of many smaller compa
nies to meet
reinsurance claims has been an important factor in purging the 
market.
'Reinsurers, who - if I may say so - were playing reinsurance, didn'
t like
the play much and have with-drawn.'
Mr Alan Bedanes, managing directo
r of Chase Manhattan's insurance unit in
London, says that the part of the r
einsurance market dependent on
retrocession capacity is of 'diminishing rele
vance. In a way you could argue
the retro market didn't represent true capit
al.'
Mr Ron Iles, chairman of Alexander Howden Reinsurance Brokers, the
rein
surance broking arm of US brokers Alexander & Alex-ander, believes that
capa
city in the non-proportional market could fall by at least 30 per cent
this 
year, putting further upward pressure on rates. In the US market, where
rate
s have been softest, the impact of Hurricane Andrew will add to the
upward p
ressure.
Other reinsurers think rises will continue in the 1992 renewal seas
on. UK
insurance companies which have drawn on their reinsurance contracts t
o pay
losses from storms in October 1987 and January 1990, paid increases of
 up to
400 per cent at the end of 1990 and further rises of 25 per cent at t
he end
of last year.
According to Mr John Wetherell, underwriter of syndicat
e 190, which
specialises in non-proportional catastrophe cover at Lloyd's, f
urther
increases are on the cards this year. 'High level excess of loss cove
rs will
see significant increases.'
The collapse of the London retrocession 
market, combined with the increased
emphasis on security, is leading many sm
aller insurers and reinsurers to buy
financial reinsurance, which contains e
lements of both finance and
reinsurance.
The financial reinsurer guarantees 
that a claim will be paid but assumes the
risk that over time the sum of pre
miums paid, plus investment income, will
not equal the size of of the agreed
 payout (the interest rate risk) and/or
that claims will emerge before the a
greed payment date.
Lloyd's syndicates with exposure to long tail liabilitie
s - in which claims
arise many years after the inception of policies - have 
been buying time and
distance policies, which are similar to financial reins
urance transactions,
for some time. But over the past 12 months the use of f
inancial reinsurance
has become more common.
This is because, the collapse o
f the LMX market has exposed some of the
difficulties faced by syndicates, w
hich are effectively one year joint
ventures, in building reserves to cover 
against the risk of disasters which
might occur once in every ten years.
Zur
ich Insurance, the giant Swiss company, is the world's leading financial
rei
nsurer and its Centre Re subsidiary has already been involved in two of
the 
biggest financial reinsurance deals with Lloyd's, reinsuring syndicates
190 
and 417.
Last year Zurich bought Pinnacle, the Bermuda-based financial reins
urer,
which has underwritten dozens of time and distance policies for Lloyd'
s
syndicates.
In addition, Lloyd's syndicates have also been given clearance
 by the
market's authorities to make more use of traditional reinsurance.
Ob
servers believe that net result is likely to further increase the power of
t
he larger European and North American reinsurers.
</TEXT>
<PUB>The Financial
 Times </PUB>
<PAGE> London Page 27 </PAGE>
</DOC>

============= Transaction # 76 ==============================================
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<DOC>
<DOCNO>FT933-5029</DOCNO>
<PROFILE>_AN-DIFB9ACJFT</PROFILE>
<DATE>9309
06
</DATE>
<HEADLINE> FT  06 SEP 93 / Survey of Reinsurance (5): Natural dis
asters multiply - Global warming makes insurers sweat </HEADLINE>
<BYLINE>  
  By VANNESSA YOUNG </BYLINE>
<TEXT>
THE scope and frequency of claims due t
o natural catastrophes has risen
drastically over recent decades leading to 
unprecedented losses for insurers
and reinsurers alike.
The trend was highli
ghted by Swiss Re in Sigma, its monthly review of
reinsurance developments. 
Its review of catastrophe and other major losses
in 1992 shows that natural 
disasters again dominated the year with a record
130 events resulting in an 
insured loss of Dollars 22.5bn, up 108 per cent
on the previous year's figur
e.
Nor was the long-term comparison any healthier. Loss figures have remaine
d
high for the last four years while average losses rose alarmingly.
From 19
70 to 1981 the insured loss per catastrophic event averaged Dollars
84m (199
2 prices). Between 1982 and 1991, however, the figure rose Dollars
132.8m. S
wiss Re concluded that economic factors were responsible for only a
small pr
oportion of the losses: GNP increased by 85 per cent over the last
23 years,
 while insured losses increased by over 900 per cent.
Others factors, includ
ing the settlement and industrialisation of vulnerable
areas and an increase
 in insurance density were no less important and may
gain further significan
ce. This applied especially to climatic conditions
'since it appears quite l
ikely that the loss surge is at least in part due
to climatic change ..'
Sig
ma says that its statistics do not tell us precisely 'how or why mankind
agg
ravates catastrophe risks or allows them to become worse ..' but that
they '
do clearly indicate that risks are increasing; they give us the urgent
warni
ng to examine the causes of these trends and to develop effective
preventive
 strategies.'
Research by Munich Re has highlighted 'already disturbing sign
s of the
worldwide warming of the atmosphere'. For example, 1990 was the war
mest year
since meteorological records began, and six of the last 10 years h
ave seen
global temperatures higher than all previous readings.
Current info
rmation, seems to point to a global rise in temperature of
between 1.5 and 4
.5 degrees by the end of the next century. Assuming that
all the predicted e
ffects of the man-made greenhouse effect become reality,
just what will mank
ind be up against? Munich Re assumes the following line
of development:
A wa
rmer atmosphere would result in a greater exchange of energy adding to
the m
omentum of vertical exchange processes which are the driving force in
the de
velopment of tropical cyclones, tornadoes and thunderstorms resulting
in inc
reased frequency and strength.
More severe winter storms in Europe similar t
o those in late January and
March 1990 which resulted in an insured loss of 
DM17.3bn are feasible.
Increased exposure to storm surges and flooding in lo
w-lying,
densely-populated regions such as Bangladesh, because of a 30cm-100
cm rise
in sea levels within 100 years.
The jury has still not reached its v
erdict on global warming. However, most
of its members would probably suppor
t the view expressed by Swiss Re in its
1990 annual report that 'reinsurers 
cannot afford to wait for scientists to
provide evidence of how climatic cha
nge will influence natural events such
as storm, hail and flooding and so on
. Underwriting policy and commitment
acceptance must be adjusted now to poss
ible future developments.'
But just how can the insurance and reinsurance in
dustry cope with the
increased loss potential of natural catastrophes?
Munic
h Re believes that industry can either adjust to the situation or
minimise o
r prevent the effects and suggests a number of instruments that
the risk com
munity has at its disposal including:
Charging premiums commensurate with ri
sk, which would mean breaking down the
product into its constituent parts an
d calculating the risk premium for each
peril that could impact on an accoun
t. It should be kept in mind that
historical return periods for these perils
 may well have been altered by
global warming. The challenge for reinsurers 
is to provide cover at rates
that not only reflect the past, but to set pric
es which anticipate future
loss. Substantial deductibles and insurance parti
cipation by the insured.
Munich Re demonstrates the effectiveness of a deduc
tible in its study 1990
Winter Storms in Europe, illustrating how a deductib
le of DM500 on a German
homeowners' comprehensive policy would have reduced 
aggregate insured losses
by 30 per cent and the number of insured losses by 
40 pr cent.
Liability limits per loss event or area with those liabilities r
endered
transparent by determining accumulation.
Limits on cover or exclusio
ns for certain hazards.
Loss prevention through policyholder education about
 measures which may
bring about a reduction in weather damage claims.
Optima
l loss settlement.
Munich Re maintains that the effects of climatic change n
eed not have a
negative impact as long as the above disciplines are introduc
ed. However,
clients of insurers and reinsurers would have to be aware of en
vironmental
changes to motivate them to take suitable countermeasures such a
s
participation in the United Nations International Decade of Natural Disast
er
Reduction aimed at combating the increased danger of natural disasters or

ratification of the World Climate Convention.
Vannessa Young is a staff wri
ter at the FT World Insurance Report
</TEXT>
<XX>
Countries:-
</XX>
<CN>XAZ 
 World.
</CN>
<XX>
Industries:-
</XX>
<IN>P63   Insurance Carriers.
    P632
1 Accident and Health Insurance.
    P6411 Insurance Agents, Brokers, and Se
rvice.
    P951  Environmental Quality.
</IN>
<XX>
Types:-
</XX>
<TP>TECH  S
ervices & Services use.
    CMMT  Comment & Analysis.
    RES  Pollution.
</
TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 15 </PAGE>
</DOC>

============= Transaction # 77 ==============================================
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<DOC>
<DOCNO>FT923-4395</DOCNO>
<PROFILE>_AN-CIGBWADJFT</PROFILE>
<DATE>9209
07
</DATE>
<HEADLINE> FT  07 SEP 92 / Survey of Reinsurance (6): Skills tran
scend disaster / Assessing the changing role of Lloyd's </HEADLINE>
<BYLINE>
    By LEE COPPACK </BYLINE>
<TEXT>
THERE IS a continuing and growing demand
 for reinsurance, particularly
catastrophe protection. Insured values increa
se and maximum potential
exposures rise, but this type of business is inevit
ably volatile. Lloyd's is
the second or third largest reinsurer in the world
, and reinsurance of all
types represents more than half its premium income.

As a consequence of the type of business they write, reinsurers have carrie
d
the brunt of catastrophes which coincided with a period of exceptional
ove
r-capacity and low premium rates. Lloyd's was never likely to escape the
cla
ims its competitors have suffered, and its entrepreneurial nature and
constr
aints on its reserving capability exacerbated the losses and their
effects.

The next few years will show to what level individuals are prepared to be
so
urces of risk capital to bear this volatility, particularly if they cannot
b
uild up reserves for the purpose of mitigating the worst effects.
The Rowlan
d task force examining Lloyd's put it this way: 'Lloyd's
underwriting skills
 and appetite for risk enable it to compete effectively
to provide high-leve
l catastrophe insurance and reinsurance. However, its
capital structure is n
ot well matched to this business of volatile profit
streams. Full pay-out of
 profits from an 'annual venture' will inevitably
result in highly volatile 
returns.'
In spite of the disadvantages and an at least temporary reduction 
in market
capacity, there is little doubt there is a continuing and growing 
role for
Lloyd's as a source of reinsurance capacity. Richard Hazell, deputy
 chairman
and a reinsurance underwriter, said: 'There is no question about i
t. The
pure reinsurance market is not large enough to service the needs of t
he
industry.'
Lloyd's exercises its greatest influence in reinsurance as wel
l as direct
business in the marine market where it has always been a world l
eader.
Lloyd's controls about 30 to 35 per cent of the marine reinsurance ma
rket.
In non-marine, its share is perhaps 1.5 or 2 per cent, though syndicat
es
often lead business which is substantially placed elsewhere.
Excess of lo
ss business is by a substantial margin the largest type of
reinsurance that 
the market writes. It peaked as a proportion of the
market's total income in
 1990 with the collapse of the spiral of excess of
loss retrocessions, but i
n 1991, excess of loss business was still
responsible for 36.2 per cent of t
he market's premium income.
Alan Grant is the underwriter for syndicate 991,
 one of only three new
syndicates in Lloyd's this year. The syndicate has a 
capacity of just over
Pounds 15m and it is expected to rise to about Pounds 
25m for 1993. He
writes various types of reinsurance including long tail bus
iness. He
describes the exercise of getting the capacity as one of convincin
g names
'that it was the right time in the underwriting cycle to start a new

syndicate even if it was a difficult time in the capital supply cycle.'
He 
stressed the importance of not confusing excess of loss business, a
mechanis
m no different from buying motor insurance above a deductible, from
retroces
sions of excess of loss where the risks may pass around the same
market seve
ral times. 'What we sold to the membership is that we are
bringing fresh bus
iness into the market; we are not recycling business from
the market.'
Poten
tial catastrophe exposures have exploded. The largest North Sea
platforms ha
ve insured values of between Dollars 2bn and Dollars 3bn.
According to Munic
h Re, natural disasters are becoming ever more costly. It
says that the burd
en of claims from natural disasters was eight times higher
in real terms in 
the 1980s than the 1960s.
Typhoon Mireille in Japan in September 1991 was th
e most costly wind storm
loss in insurance history. Insured claims reached D
ollars 5.2bn, though, for
once, Lloyd's has not suffered heavily. In 1990 lo
sses from natural
disasters reached the record total of Dollars 15.3bn.
Said
 Munich Re: 'This trend is primarily the consequence of increasing
populatio
n density, especially in conurbations, and the simultaneous
increase in the 
concentration of values, as well as the phenomenon of people
and industry se
ttling in coastal areas and other regions that are
particularly exposed to n
atural hazards.'
The volatility of catastrophe risks and the Lloyd's system 
of reconstituting
each syndicate every year would be less significant if nam
es were better
able to offset good years against bad. Neither names nor synd
icates are
allowed tax deductions for equalisation reserves, deductions in g
ood years
which can be brought back into the underwriting account to soften 
the blow
of a serious loss.
The task force concluded that Lloyd's should be 
able to continue to write
catastrophe business but that to do so competitive
ly, names needed to be
able to build up equalisation reserves. It said: 'Llo
yd's is at a severe
competitive disadvantage since its principal European co
mpetitors enjoy
advantageous tax treatment on reserves for both past and fut
ure losses.'
Talks are still taking place with the Inland Revenue over the p
ossible
creation of a form of equalisation reserves which could be used to p
rovide
cover for large variations in underwriting performance. 'Reserving ha
s
become an issue of acute concern within the market,' commented the task
fo
rce.
Seeing themselves as providers of capital for the insurance industry, t
he
reinsurance industry is now telling direct insurers what the cost for tha
t
capital is now. It is not just taking the form of higher prices,
particula
rly in the marine market where retrocession capacity has contracted
most sha
rply, but also in requiring direct companies to carry more of the
risk thems
elves. Richard Hazell said: 'The reinsurance market really decided
it had lo
st enough money.
When Hurricane Andrew hit the southern states of the US in 
August, the
effect of these increased retentions emerged. Lloyd's was not ex
pecting to
face serious claims until insured damages reached around Dollars 
3bn. Terry
Hayday, chief executive of the insurance division of underwriting
 agent
Sturge Holdings, commented: 'Had the same loss occurred three years a
go, the
situation would have been different.'
Perhaps the biggest single exc
ess of loss contract in Lloyd's covers the
shipowners' liability insurers, t
he International Group of P & I Clubs. The
clubs this year have to retain Do
llars 15m of each loss instead of Dollars
12m in 1991. The top limit has dro
pped from Dollars 1.25bn to Dollars 1bn,
and the premiums have increased bet
ween 91 per cent and 144 per cent
depending on the type of ship insured.
The
 clubs as a group are co-insuring 7 per cent of the bottom layer of the
exce
ss, and because of a shortage of capacity in Lloyd's, the brokers used
the B
ermuda-based XL, a company set up with capital from industrial
policyholders
 during the liability insurance crisis of the 1980s, to
complete the slip.
I
n spite of these encouraging signs, losses from the most recent years are
le
ading to resignations, and many remaining names are wary of increasing
their
 underwriting limits, Lloyd's capacity is expected to drop by 20 to 25
per c
ent.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 30 </PAGE>
<
/DOC>

============= Transaction # 78 ==============================================
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<DOC>
<DOCNO>FT933-5030</DOCNO>
<PROFILE>_AN-DIFB9ACIFT</PROFILE>
<DATE>9309
06
</DATE>
<HEADLINE> FT  06 SEP 93 / Survey of Reinsurance (4): The big one
 that missed Miami - Hurricance Andrew was bad but it could have cost a lot 
more </HEADLINE>
<BYLINE>    By RICHARD LAPPER </BYLINE>
<DATELINE>    HURRI
CANE Andrew, the biggest ever US catastrophe loss was bad </DATELINE>
<TEXT>

but it could have been much worse. Had Andrew hit Miami last August instead

of less built-up areas of Florida and Louisiana, the damage would have been

much greater than the Dollars 15.5bn in losses the storm actually caused.
E
ven so the impact of the hurricane on the local reinsurance market, which
co
ntributed to Dollars 22.97bn in catastrophe losses for the year as a
whole, 
has been stark.
Last year's losses have depressed industry profitability and
 put many
smaller and medium-sized reinsurers under further financial strain
 leading
many to reduce their involvement in the market and a decline in cap
acity,
with the resulting fall in capacity forcing a sharp increases in pric
es.
The scale of the hurricane has also served to highlight a longer term tr
end
in which catastrophe losses are becoming bigger and more frequent. Losse
s
from catastrophes rose steadily during the 1980s with the annual toll
reac
hing Dollars 2.3bn in 1983, Dollars 2.8bn in 1985 and Dollars 7.6bn in
1989,
 when claims from hurricane Hugo alone amounted to Dollars 4.2bn.
During 199
0 and 1991 losses stayed at a high level, amounting to Dollars
2.82bn and Do
llars 4.72bn respectively.
Figures for the first three months from Property 
Claims Services, the body
which collates data for the industry, indicate tha
t the trend is continuing.
Anticipated claims for the first quarter amounted
 to Dollars 2.8bn. The bulk
of the first quarter loss was provided by a larg
e storm which hit 24
southern and eastern states between 11 and 14 March. Cl
aims from the World
Trade Center bombing on 26 February amount to more than 
Dollars 510m. 'The
industry has to accept that the traditional pattern of pe
riods of low loss
frequency punctuated by the occasional bad year is no long
er applicable,'
commented the specialist newsletter Catastrophe Reinsurance.

Rates have risen sharply. Reinsurance premiums which were moving gently
upw
ards at last year's mid-year renewals rose sharply at the end of the year
an
d have climbed higher again this year, bringing the US firmly into line
with
 the hardening market in Europe and elsewhere.
Increases of rates ranged fro
m 10 per cent to 100 per cent on January 1993
renewals. Further tightness, e
specially in the property market, was evident
at mid-year renewals. The term
s and conditions of many reinsurance policies
sold to US buyers have tighten
ed.
According to Mr Alan Cranfield, reinsurance broker with Alexander Howden
,
pro-rata reinsurance treaties bought by US companies are now much more
lik
ely to include caps on the catastrophe exposures that they cover. Mr
Cranfie
ld said that 90 per cent of such policies included caps at the the
mid-year 
renewals, compared with 70 per cent at the end of last year.
Reinsurers are 
also more likely to insist that insurers agree to accept
bigger deductibles,
 retaining more of their risks on their own books. This
in turn is prompting
 many insurers to reduce the amount of cover they offer
to their own policyh
olders, especially in areas highly exposed to
catastrophe risks such as coas
tal Florida.
In the longer term the trends seem certain to put many smaller 
reinsurance
companies under increasing financial pressure, leading to a furt
her
consolidation in the market.
Standard & Poor's, the US rating agency, sa
ys that 1992 losses drove up the
industry's combined ratio (expenses plus cl
aims against premiums) to 118.2
per cent compared with 106.3 per cent in 199
1, leading to a sharp depression
in profitability.
In spite of its capital g
ains of more than Dollars 870m, the earnings of the
US reinsurance industry 
plummeted during 1992. Profitability as measured by
return on revenue droppe
d 10 percentage points to 2.88 per cent in 1992 from
12.95 per cent in 1991.
 The industry's pre-tax profits declined by 51 per
cent to Dollars 963m comp
ared with Dollars 2bn in 1991, while profits - as
measured by return on equi
ty - fell by 747 basis points to 6.34 per cent in
1992. Excluding realised g
ains it fell to 0.59 per cent.
S & P's figures show that the industry's bett
er capitalised reinsurers have
fared better than their weaker rivals, genera
lly posting better results.
'Simply put, larger well-capitalised reinsurers 
are in a better position to
withstand such devastating losses,' say Thomas W
alsh and Mary Ann Gangemi,
of Standard & Poor's.
Financially stronger well p
ositioned reinsurers have been able to 'cherry
pick' books of business from 
both primary companies looking to leave the
reinsurance business and profess
ional reinsurers who have lost market share
or status.
The top 10 reinsurers
' increased their market share to 57 per cent in 1992,
compared with 44 per 
cent in 1985 and 53 per cent in 1991, say S & P. The
top 20 reinsurers are r
esponsible for more than 75 per cent of net premiums
written. Beyond the top
 20 almost 90 per cent of premiums are underwritten
by only 35 companies.
'T
he consolidation process, accelerated by the most recent string of
catastrop
hes, is expected to continue as many of the smaller firms
deteriorate financ
ially due to the less profitable business written in
recent years,' say S & 
P's Walsh and Gangemi.
'These losses will require further loss reserve stren
gthening which for some
will create unbearable pressure on an already fragil
e capital base,' the two
analysts add.
 ------------------------------------
------
   TOP 10 US REINSURERS BY NET PREMIUMS
       written in 1992 (Dolla
rs m)
 ------------------------------------------
General Reinsurance       
  1,870
Employers Reinsurance       1,410
American Re-insurance       1,010

Prudential Re                 704
Constitution Reinsurance      383
Swiss Re
insurance             376
Skandia America Re            372
Transamerica Re 
              354
Transatlantic Re              323
Munich American Re      
      323
 ------------------------------------------
Source: Standard & Poo
r's Rating Group
 ------------------------------------------
</TEXT>
<XX>
Co
untries:-
</XX>
<CN>USZ  United States of America.
</CN>
<XX>
Industries:-
<
/XX>
<IN>P63   Insurance Carriers.
    P6231 Security and Commodity Exchange
s.
    P6411 Insurance Agents, Brokers, and Service.
</IN>
<XX>
Types:-
</XX
>
<TP>CMMT  Comment & Analysis.
    TECH  Services & Services use.
</TP>
<PU
B>The Financial Times </PUB>
<PAGE> London Page 15 </PAGE>
</DOC>

============= Transaction # 79 ==============================================
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<DOC>
<DOCNO>FT921-10549</DOCNO>
<PROFILE>_AN-CBEBPAFQFT</PROFILE>
<DATE>920
205
</DATE>
<HEADLINE> FT  05 FEB 92 / UK Company News: Tougher times for co
mposites - Rising reinsurance rates </HEADLINE>
<BYLINE>    By RICHARD LAPPE
R </BYLINE>
<TEXT>
ALREADY enfeebled by their losses from recession and weat
her-related claims
over the past two years, UK composite insurers are facing
 tough increases in
their reinsurance costs and a reduction in cover in some
 instances.
With negotiations still proceeding in some cases, insurers are r
eluctant to
give details, but five of the country's leading insurers - Gener
al Accident,
Sun Alliance, Commercial Union, Guardian Royal Exchange and Roy
al Insurance
 -face increases of at least 25 per cent. Underpinning these de
velopments
are two related trends.
UK insurers are presenting their reinsure
rs with serious losses. In 1990
four of the five recorded pre-tax losses for
 the first time for at least a
generation. That result was heavily influence
d by the Pounds 4bn cost of the
storm losses of January and February 1990 an
d reinsurers responded by
pushing up rates by multiples of three and four ti
mes.
Reinsurers, such as Germany's Munich Re and Switzerland's Swiss Re, are

themselves facing much tighter conditions in the retrocession market, where

they buy their own reinsurance protections. Between 1987 and 1990 reinsurer
s
in the retrocession market, much of which is concentrated at Lloyd's of
Lo
ndon, were hit by a string of catastrophe losses - ranging from the Piper
Al
pha oil rig explosion in the North Sea in 1988, to hurricane Hugo in 1989
an
d the January storms in 1990.
Total losses amounted to more than Pounds 18bn
 and the impact has forced
many players out of business with those remaining
 pushing through
significant increases in rates. And although 1991 was relat
ively free of
major catastrophe losses, reinsurers were hit by a number of m
edium-sized
losses in the last three months of the year. Together losses fro
m Typhoon 19
in Japan, a forest fire in Oakland, California, a hailstorm in 
Calgary and
hurricane Bob in North America led to claims in excess of Dollar
s 3bn
(Pounds 1.6bn).
Reinsurers have, therefore, been squeezed and although
 UK insurers had hoped
to escape further increases this year they have found
 their reinsurers in a
surprisingly tough mood over the past three months.
A
s a result negotiations have been long drawn out. Many contracts which are
n
ormally completed a number of weeks before Christmas have only been
complete
d in the past few days. One large mutual office is understood to
have comple
ted its programme last week.
'This has been the most horrendous renewal seas
on that most individuals on
the market can remember,' comments one London br
oker. 'European reinsurers
were unhappy with the extent of increases they we
re able to obtain last year
and since the summer of last year have been co-o
rdinating efforts to obtain
much higher rates', says another broker.
Reinsur
ers have been forcing through tough new terms for the proportional
treaties 
- in which they assume a fixed percentage of an insurer's
liabilities for a 
fixed percentage of the original premium.
The rate of commission which reins
urers pay for this business has been cut
drastically. Reinsurers who paid be
tween 25 per cent and 27 per cent at the
beginning of 1991 have paid as litt
le as 7.5 per cent this year.
In one case reinsurers have insisted on the in
troduction of 'loss
participation clauses,' arrangements whereby insurers re
fund the original
reinsurance commission if the business they cede eventuall
y generates
losses.
Not surprisingly, many insurers have refused to buy prop
ortional covers on
these terms and have been forced to rely exclusively on n
on-proportional
covers, in which the reinsurer agrees to pay all losses abov
e an annual
aggregate level.
Here, too, though prices have been increased an
d terms have been tightened.
Last year four of the UK's five composite insur
ers paid between Pounds 25m
and Pounds 30m for policies covering them from a
ggregate losses of up about
Pounds 250m.
Reinsurers are known to have succes
sfully achieved rate increases of at
least 25 per cent - following rises of 
up to 400 per cent last year.
Last year the UK's leading five insurers paid 
over Pounds 125m for their
non-proportional reinsurance.
And in at least one
 case a trigger point of about Pounds 50m has been set,
with the implication
 that insurers carry a much higher proportion of their
losses on their own b
ooks.
This shift has also had implications for the cash flow of insurers.
Wh
ile payments for proportional reinsurance are made on a quarterly basis,
ins
urers pay up front for their non-proportional protections.
</TEXT>
<PUB>The 
Financial Times </PUB>
<PAGE> London Page 22 Photograph Lloyd's of London, h
it by catastrophe claims (Omitted). </PAGE>
</DOC>

============= Transaction # 80 ==============================================
Transaction #:     80       Transaction Code:  19 (Record Selected)        

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<DOC>
<DOCNO>FT921-10549</DOCNO>
<PROFILE>_AN-CBEBPAFQFT</PROFILE>
<DATE>920
205
</DATE>
<HEADLINE> FT  05 FEB 92 / UK Company News: Tougher times for co
mposites - Rising reinsurance rates </HEADLINE>
<BYLINE>    By RICHARD LAPPE
R </BYLINE>
<TEXT>
ALREADY enfeebled by their losses from recession and weat
her-related claims
over the past two years, UK composite insurers are facing
 tough increases in
their reinsurance costs and a reduction in cover in some
 instances.
With negotiations still proceeding in some cases, insurers are r
eluctant to
give details, but five of the country's leading insurers - Gener
al Accident,
Sun Alliance, Commercial Union, Guardian Royal Exchange and Roy
al Insurance
 -face increases of at least 25 per cent. Underpinning these de
velopments
are two related trends.
UK insurers are presenting their reinsure
rs with serious losses. In 1990
four of the five recorded pre-tax losses for
 the first time for at least a
generation. That result was heavily influence
d by the Pounds 4bn cost of the
storm losses of January and February 1990 an
d reinsurers responded by
pushing up rates by multiples of three and four ti
mes.
Reinsurers, such as Germany's Munich Re and Switzerland's Swiss Re, are

themselves facing much tighter conditions in the retrocession market, where

they buy their own reinsurance protections. Between 1987 and 1990 reinsurer
s
in the retrocession market, much of which is concentrated at Lloyd's of
Lo
ndon, were hit by a string of catastrophe losses - ranging from the Piper
Al
pha oil rig explosion in the North Sea in 1988, to hurricane Hugo in 1989
an
d the January storms in 1990.
Total losses amounted to more than Pounds 18bn
 and the impact has forced
many players out of business with those remaining
 pushing through
significant increases in rates. And although 1991 was relat
ively free of
major catastrophe losses, reinsurers were hit by a number of m
edium-sized
losses in the last three months of the year. Together losses fro
m Typhoon 19
in Japan, a forest fire in Oakland, California, a hailstorm in 
Calgary and
hurricane Bob in North America led to claims in excess of Dollar
s 3bn
(Pounds 1.6bn).
Reinsurers have, therefore, been squeezed and although
 UK insurers had hoped
to escape further increases this year they have found
 their reinsurers in a
surprisingly tough mood over the past three months.
A
s a result negotiations have been long drawn out. Many contracts which are
n
ormally completed a number of weeks before Christmas have only been
complete
d in the past few days. One large mutual office is understood to
have comple
ted its programme last week.
'This has been the most horrendous renewal seas
on that most individuals on
the market can remember,' comments one London br
oker. 'European reinsurers
were unhappy with the extent of increases they we
re able to obtain last year
and since the summer of last year have been co-o
rdinating efforts to obtain
much higher rates', says another broker.
Reinsur
ers have been forcing through tough new terms for the proportional
treaties 
- in which they assume a fixed percentage of an insurer's
liabilities for a 
fixed percentage of the original premium.
The rate of commission which reins
urers pay for this business has been cut
drastically. Reinsurers who paid be
tween 25 per cent and 27 per cent at the
beginning of 1991 have paid as litt
le as 7.5 per cent this year.
In one case reinsurers have insisted on the in
troduction of 'loss
participation clauses,' arrangements whereby insurers re
fund the original
reinsurance commission if the business they cede eventuall
y generates
losses.
Not surprisingly, many insurers have refused to buy prop
ortional covers on
these terms and have been forced to rely exclusively on n
on-proportional
covers, in which the reinsurer agrees to pay all losses abov
e an annual
aggregate level.
Here, too, though prices have been increased an
d terms have been tightened.
Last year four of the UK's five composite insur
ers paid between Pounds 25m
and Pounds 30m for policies covering them from a
ggregate losses of up about
Pounds 250m.
Reinsurers are known to have succes
sfully achieved rate increases of at
least 25 per cent - following rises of 
up to 400 per cent last year.
Last year the UK's leading five insurers paid 
over Pounds 125m for their
non-proportional reinsurance.
And in at least one
 case a trigger point of about Pounds 50m has been set,
with the implication
 that insurers carry a much higher proportion of their
losses on their own b
ooks.
This shift has also had implications for the cash flow of insurers.
Wh
ile payments for proportional reinsurance are made on a quarterly basis,
ins
urers pay up front for their non-proportional protections.
</TEXT>
<PUB>The 
Financial Times </PUB>
<PAGE> London Page 22 Photograph Lloyd's of London, h
it by catastrophe claims (Omitted). </PAGE>
</DOC>

============= Transaction # 81 ==============================================
Transaction #:     81       Transaction Code:  22 (Record(s) Saved)        

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<DOC>
<DOCNO>FT921-10549</DOCNO>
<PROFILE>_AN-CBEBPAFQFT</PROFILE>
<DATE>920
205
</DATE>
<HEADLINE> FT  05 FEB 92 / UK Company News: Tougher times for co
mposites - Rising reinsurance rates </HEADLINE>
<BYLINE>    By RICHARD LAPPE
R </BYLINE>
<TEXT>
ALREADY enfeebled by their losses from recession and weat
her-related claims
over the past two years, UK composite insurers are facing
 tough increases in
their reinsurance costs and a reduction in cover in some
 instances.
With negotiations still proceeding in some cases, insurers are r
eluctant to
give details, but five of the country's leading insurers - Gener
al Accident,
Sun Alliance, Commercial Union, Guardian Royal Exchange and Roy
al Insurance
 -face increases of at least 25 per cent. Underpinning these de
velopments
are two related trends.
UK insurers are presenting their reinsure
rs with serious losses. In 1990
four of the five recorded pre-tax losses for
 the first time for at least a
generation. That result was heavily influence
d by the Pounds 4bn cost of the
storm losses of January and February 1990 an
d reinsurers responded by
pushing up rates by multiples of three and four ti
mes.
Reinsurers, such as Germany's Munich Re and Switzerland's Swiss Re, are

themselves facing much tighter conditions in the retrocession market, where

they buy their own reinsurance protections. Between 1987 and 1990 reinsurer
s
in the retrocession market, much of which is concentrated at Lloyd's of
Lo
ndon, were hit by a string of catastrophe losses - ranging from the Piper
Al
pha oil rig explosion in the North Sea in 1988, to hurricane Hugo in 1989
an
d the January storms in 1990.
Total losses amounted to more than Pounds 18bn
 and the impact has forced
many players out of business with those remaining
 pushing through
significant increases in rates. And although 1991 was relat
ively free of
major catastrophe losses, reinsurers were hit by a number of m
edium-sized
losses in the last three months of the year. Together losses fro
m Typhoon 19
in Japan, a forest fire in Oakland, California, a hailstorm in 
Calgary and
hurricane Bob in North America led to claims in excess of Dollar
s 3bn
(Pounds 1.6bn).
Reinsurers have, therefore, been squeezed and although
 UK insurers had hoped
to escape further increases this year they have found
 their reinsurers in a
surprisingly tough mood over the past three months.
A
s a result negotiations have been long drawn out. Many contracts which are
n
ormally completed a number of weeks before Christmas have only been
complete
d in the past few days. One large mutual office is understood to
have comple
ted its programme last week.
'This has been the most horrendous renewal seas
on that most individuals on
the market can remember,' comments one London br
oker. 'European reinsurers
were unhappy with the extent of increases they we
re able to obtain last year
and since the summer of last year have been co-o
rdinating efforts to obtain
much higher rates', says another broker.
Reinsur
ers have been forcing through tough new terms for the proportional
treaties 
- in which they assume a fixed percentage of an insurer's
liabilities for a 
fixed percentage of the original premium.
The rate of commission which reins
urers pay for this business has been cut
drastically. Reinsurers who paid be
tween 25 per cent and 27 per cent at the
beginning of 1991 have paid as litt
le as 7.5 per cent this year.
In one case reinsurers have insisted on the in
troduction of 'loss
participation clauses,' arrangements whereby insurers re
fund the original
reinsurance commission if the business they cede eventuall
y generates
losses.
Not surprisingly, many insurers have refused to buy prop
ortional covers on
these terms and have been forced to rely exclusively on n
on-proportional
covers, in which the reinsurer agrees to pay all losses abov
e an annual
aggregate level.
Here, too, though prices have been increased an
d terms have been tightened.
Last year four of the UK's five composite insur
ers paid between Pounds 25m
and Pounds 30m for policies covering them from a
ggregate losses of up about
Pounds 250m.
Reinsurers are known to have succes
sfully achieved rate increases of at
least 25 per cent - following rises of 
up to 400 per cent last year.
Last year the UK's leading five insurers paid 
over Pounds 125m for their
non-proportional reinsurance.
And in at least one
 case a trigger point of about Pounds 50m has been set,
with the implication
 that insurers carry a much higher proportion of their
losses on their own b
ooks.
This shift has also had implications for the cash flow of insurers.
Wh
ile payments for proportional reinsurance are made on a quarterly basis,
ins
urers pay up front for their non-proportional protections.
</TEXT>
<PUB>The 
Financial Times </PUB>
<PAGE> London Page 22 Photograph Lloyd's of London, h
it by catastrophe claims (Omitted). </PAGE>
</DOC>

============= Transaction # 82 ==============================================
Transaction #:     82       Transaction Code:  14 (Search Results Displayed)

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============= Transaction # 83 ==============================================
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<DOC>
<DOCNO>FT941-12749</DOCNO>
<PROFILE>_AN-EA1CHAEFFT</PROFILE>
<DATE>940
128
</DATE>
<HEADLINE> FT  28 JAN 94 / Reinsurers eager for drama to become 
crisis: The popularity of catastrophe reinsurance means rates may fall </HEA
DLINE>
<BYLINE>    By RICHARD LAPPER </BYLINE>
<TEXT>
After floods in Europe
, fires in Australia and a freeze in the eastern US,
last week's Los Angeles
 earthquake has again reminded reinsurers of the
scale of the risks to which
 they are exposed. Yet although the final bill is
not yet known, early indic
ations show that the markets have remained
relatively unscathed.
Overall eco
nomic losses from the earthquake are provisionally estimated at
more than Do
llars 15bn (Pounds 10bn), at least double the toll of the San
Francisco eart
hquake in 1989. But with much of the damage uninsured, claims
are expected t
o amount to no more than Dollars 3bn.
Also, because two of the biggest US in
surers in California - Allstate and
State Farm - buy very little reinsurance
, analysts expect reinsurers to pay
at most only Dollars 1.5bn of that bill.

Casual observers would expect reinsurers, especially those exposed to high

level catastrophe losses, to be relieved. After all the string of
catastroph
e losses, which shook the world between 1989 and 1990, has caused
considerab
le grief to reinsurers, especially at Lloyd's, where the impact
has ruined h
undreds of Names - the individuals whose assets have
traditionally supported
 the market - and been one of the main factors in the
market's recent proble
ms.
Yet in London, at least, some reinsurers wish that the loss could have b
een
bigger. 'Not big enough, old boy. We needed 8 1/2 ' on the Richter scale

which measures earthquake intensity, was one typical comment last week.
Ind
eed many on the market suspect that rates are likely to fall later this
year
.
Underpinning this ostensibly perverse rationale is a simple calculation. T
he
catastrophes sandwiched between the European storms of 1987 and hurricane

Andrew of 1992 caused losses of more than Dollars 40bn, drove many smaller

players out of the market and - as the mechanics of supply and demand for
re
insurance shifted in favour of the seller - led to sizeable increases in
rei
nsurance rates.
Lloyd's of London said last year that catastrophe reinsuranc
e rates had
risen by between 133 per cent (for US companies), 450 per cent (
for UK
companies) and 780 per cent (for Japanese companies) since 1990. In
a
ddition, insurers buying reinsurance covers have generally accepted much
mor
e risk on their own accounts, with 'deductibles', or excess points,
rising b
y between 75 per cent in the UK and 500 per cent in Japan.
This movement has
 transformed the underlying profitability of catastrophe
reinsurance and att
racted billions of dollars back into the business. Last
year institutional i
nvestors pumped more than Dollars 4bn into new
reinsurance ventures, based m
ainly in the lightly and flexibly regulated
Bermudian market.
More than Poun
ds 800m in institutional funds have been injected into
Lloyd's, where Names 
strong enough to continue trading have also increased
their commitments. Cap
acity at Lloyd's - the amount of premium which Lloyd's
syndicates are allowe
d to underwrite - will increase to at least Pounds
10.5bn in 1994, compared 
with Pounds 8.7bn in 1993.
As a result capacity shortages in the catastrophe
 reinsurance market have
substantially eased. For buyers the recent renewal 
season - most US and UK
insurers renegotiate their catastrophe reinsurance p
rotections towards the
end of each year - was the easiest for some time. Man
y brokers completed
deals much earlier than in either 1992 or 1993.
With mor
e capital chasing better risks and creating what one Lloyd's
underwriter des
cribes as a 'feeding frenzy', reinsurers have found it
difficult to underwri
te as much business as they want. 'Last year you would
have got 10 per cent 
of a risk. This year you will be lucky to get 6 per
cent,' said the underwri
ter, who specialises in US business (most business
in London is underwritten
 on a subscription basis with several underwriters
writing an agreed percent
age of a policy).
So far rates have been firm. Indeed, according to Mr Charl
es Bray,
reinsurance broker with Willis Corroon, many larger US insurers pai
d
increases of about 15 per cent this year - although smaller companies buyi
ng
lesser amounts of cover were able to renew at existing rates. 'There is a

lot of posturing at the moment. A lot of buyers would like to see reduction
s
in their prices but no one is giving them,' said Mr Bray.
However, brokers
 and underwriters are expecting rates to come under pressure
later this year
. Japanese and Australian insurers renew their catastrophe
programmes in mid
-year and could be the first to benefit.
'I think rates will drop by July. T
he Japanese book will come under
tremendous pressure,' says another Lloyd's 
underwriter, who expects cuts of
up to 15 per cent.
Mr Charles Kline, of Cen
tre Cat, one of the new catastrophe reinsurance
companies formed in Bermuda,
 also expects prices to fall. 'Prices will go
down, probably dramatically in
 some cases. But whether they go down by that
crucial amount which makes the
 business untenable, that is really an
unanswered question. Much will depend
 on underwriters' discipline.'
Increasingly analysts believe that only a ver
y large loss will stymie these
inexorable pressures. Hence the cynicism in L
ondon about Los Angeles.
According to one specialist reinsurance broker: 'We
 may have seen the peak
of catastrophe pricing unless the world starts blowi
ng, shaking and burning
again.'
</TEXT>
<XX>
Countries:-
</XX>
<CN>USZ  Unit
ed States of America.
    GBZ  United Kingdom, EC.
    AUZ  Australia.
</CN>

<XX>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Casualty Insurance.
   
 P6411 Insurance Agents, Brokers, and Service.
</IN>
<XX>
Types:-
</XX>
<TP>
CMMT  Comment & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> Londo
n Page 19 </PAGE>
</DOC>

============= Transaction # 84 ==============================================
Transaction #:     84       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT941-2916</DOCNO>
<PROFILE>_AN-ECRDQADPFT</PROFILE>
<DATE>9403
18
</DATE>
<HEADLINE> FT  18 MAR 94 / Greenhouse faces stoning: Is global wa
rming really such a threat </HEADLINE>
<BYLINE>    By BRONWEN MADDOX </BYLIN
E>
<TEXT>
For the past five years global warming has been high on the world'
s list of
environmental worries. Outstripping other 'green' concerns in the 
scale of
its potential impact and in the complexity of its causes, it has of
fered the
environmental movement some of its grandest images of apocalypse.

Industrialised countries took the threat so seriously that they made curbing

emissions of carbon dioxide and other gases the target of a treaty
negotiat
ed at the Rio Earth Summit in 1992. On Monday, that treaty becomes
internati
onal law, following ratification by more than 50 countries;
signatories will
 now have to draw up plans for curbing emissions. This week
in Geneva, the U
nited Nations has wrestled with proposals for a fund to help
developing coun
tries cut emissions too.
However, this legislative and bureaucratic effort i
s misguided, according to
Global Warming: Apocalypse or Hot Air?, published 
this week by the Institute
of Economic Affairs. The authors, Roger Bate and 
Julian Morris, are
economists at the institute, a free-market think-tank. Th
e introduction by
Wilfred Beckerman, an Oxford economist fond of tilting at 
environmental
exaggerations, urges resistance to the 'cohorts of eco-doomste
rs who warn us
we are living on the edge of the abyss'.
Bate and Morris ackn
owledge that the science which underpins predictions of
global warming is no
t in dispute. Physicists agree that some gases,
including carbon dioxide, no
w referred to as 'greenhouse gases', can trap
heat which is emitted from the
 earth's surface and so prevent it passing
into space.
The authors take issu
e, however, with the hypothesis that, if greenhouse
gases build up in the at
mosphere, the planet will warm up. The four leading
models of climate change
 used worldwide suggest that, if carbon dioxide
levels double, the world wil
l warm up by between 1.9`C and 5.2`C from
existing levels.
Among other criti
cisms, Bate and Morris say such climate models cannot fully
explain the warm
ing of about 0.5`C that appears to have taken place this
century. Instead, w
arming may be occurring because monitoring stations are
located near cities,
 which have been getting larger and warmer, they
suggest.
These complaints a
re rejected by scientists studying models of climate
change, such as Bruce C
allander, head of the working party which weighs up
scientific research for 
the United Nations Intergovernmental Panel on
Climate Change. In his view: '
It is naive to bring up urbanisation as a
problem, because it is recognised 
and has been thoroughly addressed.'
Callander acknowledges that the models h
ave many shortcomings. The behaviour
of clouds remains the 'single biggest u
ncertainty', he says; modellers are
not sure whether clouds speed up warming
 or slow it down. But he adds: 'The
modellers themselves are the models' gre
atest critics.'
Scientists admit that the global warming hypothesis is unpro
ven, and that
they will need years of further data to know whether predictio
ns are
accurate. The authors exaggerate the degree of scientific certainty a
nd do
not succeed in establishing that the threat of warming should be dismi
ssed.
They are on stronger ground in looking at ways in which economists hav
e
tried to compensate for the imperfect state of scientific knowledge in
for
mulating policy.
The pamphlet deftly picks holes in the green lobby's favour
ite claim that
measures to improve energy efficiency are a 'no-regrets' poli
cy, providing
benefits such as cheaper fuel bills as well as curbing emissio
ns. The
authors maintain that, if savings from investing in energy efficienc
y
outstripped the costs, companies and households would have made those
chan
ges already.
They home in, too, on the spurious precision of 'cost-benefit a
nalysis'  -
the technique of comparing the costs and benefits of a particula
r policy
before deciding whether to proceed. The estimates are necessarily t
entative,
yet are often used as firm predictions; the UK government's recent
 proposals
to tax rubbish dumping are a case in point.
But as in their attac
k on science, the authors are shadow-boxing at targets
which are less solid 
than they claim. For instance, the policies which the
authors warn would slo
w economic growth have not been implemented. The Rio
convention, in the wate
red-down form which finally received international
consent, tells countries 
only to draw up plans for curbing emissions, not to
make cuts. And although 
the authors rail against the European Union's
proposals for an energy tax, t
hey seem not to have noticed that the
proposals are stalled, if not dead.
In
 addition, the pamphlet's only recommendation - dashed off in two
paragraphs
 - is that all taxes and subsidies on fossil fuels should be
removed worldwi
de. 'This is likely both to reduce emissions and increase
global economic ou
tput,' Bate and Morris state baldly.
The shortcomings of their case are unfo
rtunate, because scepticism about
environmental scaremongering is welcome an
d all too rare. So is the reminder
that, in pandering to green populism, gov
ernments can put in place policies
which are counter-productive and expensiv
e.
The Rio convention will encourage governments to grapple with the importa
nt
question of whether any international agreement to curb carbon dioxide
em
issions can be binding. Such treaties are almost impossible to police, as
th
e emissions of individual countries are hard to monitor. Further,
countries 
may be tempted to avoid the inconvenience and cost of the curbs,
provided th
ey can be satisfied that they will benefit from other countries
continuing t
o observe them.
The only contribution which could settle the global warming 
debate, however,
is more data about climate change. In Callander's words, 'i
n 10 years we may
say (scientists' investigation) has been an interesting ex
ercise which came
to nothing, or we may say that we were recognising somethi
ng important
happening in the atmosphere. At the moment, though, (the threat
) should be
taken seriously.'
Global Warming: Apocalypse or Hot Air? Roger B
ate and Julian Morris, IEA
Studies on the Environment, 2 Lord North St, Lond
on SW1P 3LP; Pounds 5
</TEXT>
<XX>
Countries:-
</XX>
<CN>XAZ  World.
</CN>
<
XX>
Industries:-
</XX>
<IN>P951  Environmental Quality.
</IN>
<XX>
Types:-
<
/XX>
<TP>RES  Pollution.
    CMMT  Comment & Analysis.
</TP>
<PUB>The Financ
ial Times </PUB>
<PAGE> London Page 18 </PAGE>
</DOC>

============= Transaction # 85 ==============================================
Transaction #:     85       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT932-7277</DOCNO>
<PROFILE>_AN-DEYCHACEFT</PROFILE>
<DATE>9305
25
</DATE>
<HEADLINE> FT  25 MAY 93 / Insurers told to cut storm cover </HEA
DLINE>
<BYLINE>    By RICHARD LAPPER </BYLINE>
<TEXT>
INSURERS could come un
der pressure to reduce cover for storm damage to
homes, a conference on glob
al warming and catastrophic weather losses was
told yesterday.
Mr Jeremy Hin
dle, a senior underwriter with Swiss Re, the world's second
largest reinsura
nce company, said that the excess (the amount a policyholder
pays of any cla
im) on household buildings policies 'must be raised to Pounds
250 immediatel
y, with a move to Pounds 1,000 being the target.'
Swiss Re is one of a numbe
r of reinsurers providing cover to UK insurers.
Insurers have introduced hig
her excesses for subsidence but for most claims
householders pay a compulsor
y excess of about Pounds 50. Some insurers offer
lower premiums for customer
s who choose to take a higher excess.
Household insurance premiums have rise
n in recent years, partly reflecting
steep rises in rates charged by reinsur
ers to insurance companies.
Mr Hindle told the conference, organised by envi
ronmental pressure group
Greenpeace, that changes in terms and conditions of
 buildings policies were
needed to reduce exposure to storm damage.
Reinsure
rs have put the UK in the list of five international regions most
exposed to
 catastrophic weather or earthquake risk, after two of the
costliest storms 
on record in the past six years.
But he said reinsurers could also press for
 further changes. Insurers could
restrict coverage to a percentage of the su
m insured in some areas or follow
the example of insurers in the Virgin Isla
nds - badly hit by hurricane Hugo
in 1989 - where excesses are a percentage 
of the property's value.
AA Insurance, one of the UK's biggest brokers, crit
icised the move to raise
excesses. Mr Noel Privett, AA head of information, 
said such it would
represent 'a huge overreaction. A more creative solution 
is called for'.
</TEXT>
<XX>
Countries:-
</XX>
<CN>GBZ  United Kingdom, EC.

</CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Casualty Insurance
.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Financial 
Times </PUB>
<PAGE> London Page 12 </PAGE>
</DOC>

============= Transaction # 86 ==============================================
Transaction #:     86       Transaction Code:  14 (Search Results Displayed)

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============= Transaction # 87 ==============================================
Transaction #:     87       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT933-5022</DOCNO>
<PROFILE>_AN-DIFB9ACQFT</PROFILE>
<DATE>9309
06
</DATE>
<HEADLINE> FT  06 SEP 93 / Survey of Reinsurance (12): Magnetic i
sland in the sun - Bermuda is the world's fastest growing offshore centre </
HEADLINE>
<BYLINE>    By RICHARD LAPPER </BYLINE>
<TEXT>
BERMUDA, home of so
me of the world's fastest growing and innovative
reinsurance companies, has 
benefited from a flood of new interest this year.
More than half a dozen new
 reinsurance initiatives have been launched,
bringing more than Dollars 1bn 
in fresh capital to the island and
consolidating its reputation as the world
's biggest offshore insurance and
reinsurance centre.
Until this year Bermud
a was known as a centre for captive insurers and more
recently for highly sp
ecialised reinsurers which offer high-level liability
covers.
Centre Re, the
 biggest of Bermuda's reinsurance companies with assets of
Dollars 2.9bn, ha
s pioneered so-called finite risk transactions, while ACE
and XL insure larg
e - mainly US - corporations against legal awards.
In June, American Interna
tional Group, one of the world's biggest insurers,
reinforced this trend by 
sponsoring the formation of a new excess liability
company, Starr Excess Lia
bility Insurance. Other backers include General Re,
Munich Re, Primamerica a
nd Aon Corporation.
However, most attention has focused recently on the cata
strophe reinsurance
market, with Bermuda hosting a number of significant new
 initiatives by
North American insurers and financiers. Attracted by the rec
ent strength in
reinsurance rates and prospect of attractive profits, Marsh 
McLennan, the
world's biggest insurance broker, and JP Morgan, the US bank, 
sponsored the
formation last autumn of Mid-Ocean, a new Dollars 350m reinsur
ance company.
The company began underwriting in January and in the summer an
nounced plans
to go public in the US with an initial public offering expecte
d to raise
nearly Dollars 250m.
In the last six months five similar ventures
 have been formed:
American International Group announced it was setting up 
a property
catastrophe reinsurer, International Property Catastrophe Reinsur
ance Co,
which aims to provide excess of loss treaty reinsurance for persona
l and
commercial risks. AIG has a 24.4 per cent stake in the Dollars 300m co
mpany
which will also underwrite retrocessional business for other reinsurer
s and
also some non-catastrophe business.
Investors including General Re, th
e biggest US reinsurance company, and AIG
have raised Dollars 500m to suppor
t Tempest Reinsurance, which is expected
to begin underwriting in October.
G
oldman Sachs, the securities house, and Johnson & Higgins, the insurance
bro
ker, are organising another company, Global Capital Reinsurance, which is
ex
pected to have some Dollars 300m in capital. Investors include
Underwriters 
Re Holdings Corporation.
Investors including Warburg, Pincus Investors, Gene
ral Electric Pension
Trust, Investment Private Placement Partners and USF&G,
 the US insurance
company, are raising Dollars 140m to invest in Renaissance
 Reinsurance. It
plans to underwrite property and short-tail casualty insura
nce, earning more
than 60 per cent of an expected Dollars 100m a year in pre
miums from the US
market.
Centre Re itself has formed a Bermuda-based shell 
company, Centre Cat, which
will also underwrite catastrophe reinsurance.
Sep
arately, General Re is opening a wholly-owned underwriting management
compan
y, to help meet growing demand for back office services on the island.
Two o
bvious attractions are Bermuda's tax regime (companies pay no income or
corp
oration tax and can build up tax-free reserves allowing them to build up
muc
h stronger financial strength to meet large scale claims) and its benign
reg
ulatory environment.
Bermudian companies are able to avoid the very high so-
called 'frictional'
costs, which are typical of a market - such as London - 
in which dozens of
relatively small insurers and brokers combine to insure a
nd reinsure large
risks.
They tend to conduct a small number of high-value t
ransactions, transferring
huge blocks of risk on to their own books in excha
nge for multi-million
dollar premiums.
Already there are signs that the amou
nt of fresh capital in Bermuda is
having an impact on rates and terms and co
nditions on international markets.
One prominent London underwriter estimate
s that capacity for leading US
buyers has risen from around Dollars 120m per
 event to Dollars 150m per
event in recent months.
So far, however, there is
 little sign that Bermudian underwriters are
winning market share at the exp
ense of established marketplaces in the North
America and Europe, either by 
offering cheaper policies or better security.
Mid-Ocean, the most active Ber
mudian catastrophe reinsurer at present,
generally underwrites portions of r
einsurance programmes, in which prices
and conditions are set by so-called '
lead' underwriters in Lloyd's.
The new companies look set to follow suit. Mr
 James Stanard, chief executive
of Renaissance, says: 'Much of our business 
will be participations on
catastrophe programmes led by recognised lead unde
rwriters.'
Although there is concern among some US reinsurance buyers about 
the quality
of security in the London market and particularly at Lloyd's, ot
her buyers -
especially from Europe and South Africa - are equally sceptical
 about the
durability of Bermudian companies and are particularly mindful of
 the
problems experienced by many Bermudian companies in the mid-1980s.
Indu
stry leaders such as Mr Michael Butt, the chief executive of Mid-Ocean,
insi
st that the Bermudian market 'complements' rather than competes with
London.
 Indeed in some other ways the Bermudian market has recently provided
direct
 support for Lloyd's underwriters. Underwriters Capital (Merrett),
another n
ew Bermudian company, was formed with the specific purpose of
providing quot
a share reinsurance to the syndicates of the Merrett Group,
for example.
Cen
tre Re agreed at the end of last year to back a multi-million pound
reinsura
nce scheme, which will allow Lloyd's Names to obtain stop-loss, or
personal,
 reinsurance. And Centre Re also provides dozens of financial
reinsurance po
licies - called 'time and distance' policies - which allow
Lloyd's syndicate
s to manage their reserves more flexibly.
However, as the Bermudian market d
evelops and the confidence of buyers
increases, local Bermudian underwriters
 may begin to seek to lead business.
One prominent London underwriter predic
ts this could happen in the 1995
renewal season. 'Customers are already usin
g Bermuda as a stick to beat us
over the head,' he says.
 ------------------
-----------------------------------------
                 BERMUDA'S BIG INS
URERS
    Net insurance premiums written in 1992 (dollarsm)
 ---------------
--------------------------------------------
Centre Re                      
 1,100.0
American International            850.0
Excel                      
       434.5
ACE                               325.4
OIL                    
           187.6
Mid Ocean Re                      130.0
Mutual Risk Managem
ent             82.2
Heddington Insurance               74.0
 --------------
---------------------------------------------
Source: The Bermudan
 --------
---------------------------------------------------
</TEXT>
<XX>
Countries:-

</XX>
<CN>BMZ  Bermuda, Caribbean.
</CN>
<XX>
Industries:-
</XX>
<IN>P63   
Insurance Carriers.
    P6411 Insurance Agents, Brokers, and Service.
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<XX>
Types:-
</XX>
<TP>CMMT  Comment & Analysis.
    TECH  Services & Servic
es use.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 18 </PAGE>

</DOC>

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============= Transaction # 92 ==============================================
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<DOC>
<DOCNO>FT933-13671</DOCNO>
<PROFILE>_AN-DGRAKAD2FT</PROFILE>
<DATE>930
717
</DATE>
<HEADLINE> FT  17 JUL 93 / Finance and The Family: Paying for Na
ture's violence - Eric Short on why insurers are re-assessing premiums in ar
eas of Britain most prone to severe weather </HEADLINE>
<BYLINE>    By ERIC 
SHORT </BYLINE>
<TEXT>
LOOK carefully at the map. If you live in an area sha
ded X or Y, then it is
a high-risk storm area - and you can expect your buil
dings insurance premium
to be altered accordingly.
Gone are the days when in
surers charged one rate for the whole country -
effectively putting househol
ders into one big pool, with the low risks
subsidising the high. Now, underw
riters are splitting the country into
separate areas according to their risk
 factors.
Underwriters take five major risks into account when setting rates
 for
insuring buildings: fire, flood, storm, frost and subsidence. Of these,

storm and subsidence generally cause heavier claims.
Most fires are confine
d to a particular building, so the risk can be
controlled and damage minimis
ed. Floods tend to be localised in well-defined
areas, usually affecting onl
y a few hundred buildings at most.
Damage caused by frost can be widespread 
and, in the past, a sudden
freeze-up has led to massive claims for damage fr
om burst pipes. But lagging
exposed pipes in new houses is now standard and 
most residents of older
properties have learnt from experience to do likewis
e and take other
precautions. Underwriters are less concerned about cold spe
lls than they
used to be.
It is the storms of winter and a succession of dry
 summers that have played
havoc with claims. Insurers shudder to think about
 the great storms of
October 1987 and January 1990, and the summers of 1988-
91.
Using past claims information and large-scale geological maps, underwrit
ers
have been assessing the subsidence risk nationally and now have a cleare
r
picture of its extent. Assessing storm risks proved trickier, mainly becau
se
there was not enough data over an extended period. Storms still occur
inf
requently but, when they do, the damage is widespread and costly.
The climat
ic research unit at the University of East Anglia has, however,
examined 47 
major storms between 1920-90. This helped to provide the
material from which
 the Institute and Faculty of Actuaries produced a report
last year on Storm
 Rating in the Nineties.
For the first time, underwriters now have a clear p
icture of storm frequency
in various parts of the UK (as shown on the map) -
 although, interestingly,
the institute found there was no conclusive eviden
ce of an increasing trend
in storm losses, or to support the global warming 
theory.
Underwriters now are assessing these storm patterns, together with t
heir own
claims' experience, to establish the changes that should be made to

buildings insurance rates.
The map shows that people living in most of Scot
land have the highest risk -
more than 180 per cent of the average. But Scot
s have known this for decades
and have built their houses to withstand the w
eather. Thus, the likely
premium increases will be much less than one would 
expect from the risk
factor.
The areas most likely to be affected adversely 
by premium increases are the
next highest-risk areas of Kent, Sussex, Cornwa
ll and northern England,
where the storm risk is 130-180 per cent above aver
age. Houses in these
regions generally were not built to withstand ultra-sev
ere weather and
claims have hit insurers hard in recent years.
While builder
s now are adapting new homes to cope better with storms,
existing properties
 remain exposed to the next blast. So, if premium rates
are increased in the
se areas, house-owners will know why. Conversely, owners
in central England 
may anticipate a reduction in rates because of their
below-average storm ris
k.
</TEXT>
<XX>
Countries:-
</XX>
<CN>GBZ  United Kingdom, EC.
</CN>
<XX>
In
dustries:-
</XX>
<IN>P6411 Insurance Agents, Brokers, and Service.
    P6321
 Accident and Health Insurance.
    P6331 Fire, Marine, and Casualty Insuran
ce.
</IN>
<XX>
Types:-
</XX>
<TP>INS  Insurance.
</TP>
<PUB>The Financial Ti
mes </PUB>
<PAGE> London Page IV </PAGE>
</DOC>

============= Transaction # 93 ==============================================
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<DOC>
<DOCNO>FT923-563</DOCNO>
<PROFILE>_AN-CI1B0AAGFT</PROFILE>
<DATE>92092
8
</DATE>
<HEADLINE> FT  28 SEP 92 / Battered regions escape fresh storms </
HEADLINE>
<BYLINE>    By AP </BYLINE>
<DATELINE>    PARIS </DATELINE>
<TEXT>

FRESH storms moved across southern France yesterday, leaving three people
d
ead and several missing, AP reports from Paris.
But the rains eased before r
eaching regions battered last week by the
deadliest floods on record in Fran
ce.
Authorities said the worst damage from the new storms occurred in the
de
partments of Aude and Pyrenees-Orientales, close to the eastern part of
the 
French-Spanish border.
Rivers swollen by torrential rains overflowed their b
anks. In the Aude
village of Rennes-les-Bains the floodwaters smashed a home
, killing a
65-year-old women and sweeping away two other people.
Floodwater
s a metre deep were reported in parts of the city of Narbonne.
The national 
weather service had warned that severe storms could hit much of
south-east F
rance yesterday, but in most areas rain was too light to unleash
any new flo
oding.
Flash floods on Tuesday in the south-central departments of Vaucluse,
 Drome
and Ardeche killed 38 people.
Vaucluse authorities yesterday lowered 
their estimate of missing people from
40 to 15, saying the others had been a
ccounted for.
Officials said 150 homes in Vaucluse had been destroyed or ser
iously
damaged, and 12 bridges washed away.
An overall valuation of the dama
ge has not been released, but insurance
companies have already arranged for 
payments totalling about FFr980m (Pounds
112.38m).
</TEXT>
<PUB>The Financia
l Times </PUB>
<PAGE> London Page 3 </PAGE>
</DOC>

============= Transaction # 94 ==============================================
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<DOC>
<DOCNO>FT923-6038</DOCNO>
<PROFILE>_AN-CH1BVABKFT</PROFILE>
<DATE>9208
27
</DATE>
<HEADLINE> FT  27 AUG 92 / Hurricane batters southern US but lets
 insurers off lightly </HEADLINE>
<BYLINE>    By MARTIN DICKSON and ROBERT P
ESTON </BYLINE>
<DATELINE>    NEW YORK, LONDON </DATELINE>
<TEXT>
HURRICANE 
Andrew, claimed to be the costliest natural disaster in US
history, yesterda
y smashed its way through the state of Louisiana,
inflicting severe damage o
n rural communities but narrowly missing the
low-lying city of New Orleans.

The storm, which brought havoc to southern Florida on Monday and then headed

north-west across the Gulf of Mexico, had made landfall late on Tuesday
nig
ht some 60 miles south-west of the city in the agricultural Cajun
country.
A
lthough the damage from the hurricane's landfall in Florida on Monday was
mu
ch greater than initially esti mated, insurers' losses there are likely to
t
otal less than Dollars 1bn, well below earlier expectations, a senior
member
 of Lloyd's insurance market said yesterday.
In Louisiana, the hurricane lan
ded with wind speeds of about 120 miles per
hour and caused severe damage in
 small coastal centres such as Morgan City,
Franklin and New Iberia. Associa
ted tornadoes devastated Laplace, 20 miles
west of New Orleans.
Then, howeve
r, Andrew lost force as it moved north over land. By yesterday
afternoon, it
 had been down-graded to tropical storm, in that its sustained
windspeeds we
re below 75 mph.
Initial reports said at least one person had died, 75 been 
injured and
thousands made homeless along the Louisiana coast, after 14 conf
irmed deaths
in Florida and three in the Bahamas.
The storm caused little da
mage to Louisiana's important oil-refining
industry, although some plants ha
d to halt production when electricity was
cut.
The Lloyd's member, in close 
contact with leading insurers in Florida, said
that damage to insured proper
ty was remarkably small. More than Dollars 15bn
of damage may have been caus
ed in all, but was mostly to uninsured property,
he said.
In north Miami, da
mage is minimal. Worst affected is one hotel, whose
basement was flooded. Mo
st of the destruction occurred in a 10-mile band
across Homestead, 25 miles 
to the south of Miami, where a typical house
sells for Dollars 100,000 to Do
llars 150,000. US insurers will face a bill
in respect of such properties, b
ut Lloyd's exposure there is minimal.
Many destroyed power lines are thought
 to be uninsured, as are trees and
shrubs uprooted across a wide area. Only 
one big hotel in that area has been
badly damaged, a Holiday Inn.
Across Flo
rida, some 2m people remained without electric ity yesterday and
health offi
cials were warning the public to boil or chemically treat all
water.
Hurrica
ne Hugo, which devastated much of South Carolina in 1989, cost the
insurance
 industry some Dollars 4.2bn. Further uninsured losses may have
raised the t
otal to Dollars 6bn-Dollars 10bn.
</TEXT>
<PUB>The Financial Times </PUB>
<P
AGE> London Page 6 </PAGE>
</DOC>

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<DOC>
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<PROFILE>_AN-CIPCHAGNFT</PROFILE>
<DATE>9209
15
</DATE>
<HEADLINE> FT  15 SEP 92 / Hawaiian island recovers </HEADLINE>
<
BYLINE>    By AP </BYLINE>
<DATELINE>    LIHUE </DATELINE>
<TEXT>
TROOPS pat
rolled and helped clean up neighbourhoods and officials tended to
more than 
7,000 people in shelters as the hurricane-hit Hawaiian island of
Kauai took 
its first halting steps toward normality yesterday, AP reports
from Lihue.
F
ederal officials said 10,000 homes were badly damaged when Hawaii's worst
st
orm this century tore across the resort island. Most of the island's 70
hote
ls sustained serious damage.
A limited phone service was restored, giving th
e island's 52,000 residents
their first link to the outside world since the 
storm hit on Friday.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> Internat
ional Page 8 </PAGE>
</DOC>

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============= Transaction # 98 ==============================================
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<DOC>
<DOCNO>FT923-3091</DOCNO>
<PROFILE>_AN-CIPCHAGNFT</PROFILE>
<DATE>9209
15
</DATE>
<HEADLINE> FT  15 SEP 92 / Hawaiian island recovers </HEADLINE>
<
BYLINE>    By AP </BYLINE>
<DATELINE>    LIHUE </DATELINE>
<TEXT>
TROOPS pat
rolled and helped clean up neighbourhoods and officials tended to
more than 
7,000 people in shelters as the hurricane-hit Hawaiian island of
Kauai took 
its first halting steps toward normality yesterday, AP reports
from Lihue.
F
ederal officials said 10,000 homes were badly damaged when Hawaii's worst
st
orm this century tore across the resort island. Most of the island's 70
hote
ls sustained serious damage.
A limited phone service was restored, giving th
e island's 52,000 residents
their first link to the outside world since the 
storm hit on Friday.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> Internat
ional Page 8 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT924-2373</DOCNO>
<PROFILE>_AN-CLMAOAECFT</PROFILE>
<DATE>9212
12
</DATE>
<HEADLINE> FT  12 DEC 92 / Finance & The Family: Braced for the s
torm / A look at weather-related insurance </HEADLINE>
<BYLINE>    By SCHEHE
RAZADE DANESHKHU </BYLINE>
<TEXT>
RAIN and violent storms have caused a grea
t deal of damage in recent weeks
and insurance companies are bracing themsel
ves for a rise in weather-related
claims.
Householders should check the exte
nt of their policy cover and take
preventative action in the home to minimis
e the need to make a claim.
Burst pipes are the most common cause of weather
-related damage. Since
building and contents are likely to be affected it is
 important to be
covered for both.
Damage to roofs, windows, doors and walls
 falls under a buildings insurance
policy, while damage to carpets and furni
ture is covered under a contents
policy. Donald Malcolm, of General Accident
, says that fitted units, tiles
and wallpaper are also considered part of th
e building. Repair to pipes
burst because of freezing weather usually will n
ot be covered, according to
Swinton Insurance brokers.
The insurance compani
es all stress prevention when it comes to winter. 'Act
as if you did not hav
e insurance and be prudent,' says Steve Turner, of Sun
Alliance. He advises 
people to lag cold and hot water pipes and to clear
gutters and drains to pr
event damage during a thaw. Check the roof for loose
slates or tiles. Noel P
rivett, of AA Insurance, suggests opening the loft
door to let warm air into
 the roof cavity when the weather turns very cold,
since that is where pipes
 and water tanks are at their most vulnerable, and
to keep on the heating at
 night.
If you are going away, you should turn off the water supply and drai
n the
hot and cold water system. Alternatively, you could keep the heating o
n low
while you are away. Turner says the worst thing is to turn the heating
 off
while leaving water in the pipes.
A prudent measure is to leave keys wi
th someone in case of an emergency. If
a pipe has burst, the water must be t
urned off immediately, so make sure
that whoever comes around knows where th
e stopcock is. Remember that if you
go away for more than 30 days, your poli
cy is unlikely to cover you at all.
There can be confusion when it comes to 
cover for items outside the house.
Garden furniture is usually covered under
 a contents policy but, if it is
damaged by bad weather, you will find it ha
rd to find an insurer willing to
pick up the tab. Garden furniture should be
 stored either inside the home or
in a shed. If a storm blows off the shed r
oof the stored garden furniture
would be covered under your contents policy 
and the shed under buildings.
Some restrictions, on paths, fances and gates 
for example, can bemuse
policyholders. Most insurers will not cover damage t
o fences or gates
because of a storm or flood. Some insurers, for example AA
, will pay for
damage to fences and gates caused by a falling tree but many 
policies will
not do this if the tree fell as a result of a storm. Damage ca
used by a
falling tree (for whatever reason) will be covered by Sun Alliance
 if it
fell on to a wall but not if it fell on gates or fences.
Your insuran
ce company will not pay to clear away a tree which has fallen
unless it caus
es damage.
Make sure that both buildings and contents are insured for their 
full value
 -if a pipe were to burst in the roof causing torrents of water t
o cascade
through the house, remember that the payout on an individual item 
will be
restricted. You should have the item specified or see if your insure
r will
agree to increase the single item limit. The standard excess on most

buildings policies is Pounds 50.
If a pipe freezes, the Association of Briti
sh Insurers recommends that you
turn off the main stop valve and thaw the pi
pe with hot water bottles or a
thick cloth soaked in hot water. You should s
tart at the end of the pipe
nearest the tank.
If the pipe has already burst,
 you should once again turn off the main stop
valve. If you cannot stop the 
flow, open all cold water taps to drain the
system but do not open the hot t
aps as the hot water cylinder could collapse
if the pipes feeding it are fro
zen. You should also turn off the central
heating.
Before contacting a plumb
er, the ABI recommends contacting the insurance
company immediately to see i
f they have preferred contractors, which will
save you the bother of collect
ing different estimates for the damage. Some
insurers also have emergency he
lplines.
If you are flooded, you should switch off electricity at the mains 
and move
as many belongings as possible upstairs. The ABI recommends leaving
 windows
and doors open to allow air to circulate. Furniture should be pulle
d away
from the walls.
Swinton Insurance says you should keep damaged items 
to show a loss
assessor, in case the insurance company decides to appoint on
e to look at
the damage.
Since you will probably need to claim both contents
 and buildings insurance,
having these policies with one insurer simplifies 
the claims process and you
will only need to submit one claim.
However, it c
ould be a while before you can redecorate and get life back to
normal again.
 Walls should be treated with anti-mould solution and
floorboards should be 
given six months to dry out. Many insurance companies
will contribute to the
 costs of drying out and should pay for a short period
of temporary accommod
ation if the property has been made uninhabitable.
Prevention is not only in
 the insurer's interest: averting a disaster means
much less hassle for the 
homeowner, too.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page I
V </PAGE>
</DOC>

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============= Transaction # 101 ==============================================
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============= Transaction # 102 ==============================================
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============= Transaction # 103 ==============================================
Transaction #:    103       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT911-1104</DOCNO>
<PROFILE>_AN-BEHBSADXFT</PROFILE>
<DATE>9105
08
</DATE>
<HEADLINE> FT  08 MAY 91 / Operators review travel to Yugoslavia 
</HEADLINE>
<BYLINE>    By DAVID CHURCHILL </BYLINE>
<TEXT>
BRITISH tour ope
rators and travel agents were yesterday reviewing the
position facing travel
 to Yugoslavia after the latest outbreak of violence,
David Churchill writes
.
They were concerned about the lack of firm guidance by the Foreign Office

about travel to Yugoslavia. A number of leading operators are understood to

support a move to ban holiday travel to the country in advance of any
Foreig
n Office ruling.
The latest Foreign Office advice is for travellers to avoid
 the area between
Karlovac and Sisak in the north of the country and Split a
nd Gospic to the
south, including the coast road. They should also avoid tra
velling in the
area of Croatia to the north of the Zagreb-Belgrade motorway.

The Foreign Office said there was no reason for travellers to avoid the mai
n
cities in the tourist areas of Istria, Slovenia and Montenegro.
Yugotours,
 the largest operator to the country and backed by the Yugoslav
government, 
has some 2,500 Britons at present on holiday in Yugoslavia.
Last year about 
800,000 Britons went to Yugoslavia, mainly to the coastal
seaside resorts, w
here holidays were considerably less expensive than their
Spanish equivalent
.
Even before the Gulf War, however, the market this year was looking bleak

because of the UK recession.
Now Yugoslavia's tourist industry, its biggest 
foreign exchange earner,
faces the effects of the nationalist upheavals. Tou
rism brought in an
estimated Dollars 2.2bn (Pounds 1.27bn) in 1989 and at le
ast 10 per cent
more last year.
</TEXT>
<PUB>The Financial Times </PUB>
<PAG
E> London Page 8 </PAGE>
</DOC>

============= Transaction # 104 ==============================================
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<DOC>
<DOCNO>FT911-1219</DOCNO>
<PROFILE>_AN-BEHBSAAQFT</PROFILE>
<DATE>9105
08
</DATE>
<HEADLINE> FT  08 MAY 91 / Washington seeks to prevent more rioti
ng </HEADLINE>
<BYLINE>    By PETER RIDDELL, US Editor </BYLINE>
<DATELINE> 
   WASHINGTON </DATELINE>
<TEXT>
WIDESPREAD rioting and looting - for the se
cond night running in the
predominantly Hispanic area of Mount Pleasant in W
ashington, about two miles
from the White House - led to the imposition of a
 curfew and a state of
emergency across both that area and that of Adams Mor
gan between midnight
Monday and early yesterday morning.
The disturbances ha
ve involved gangs of youths breaking shop windows and
looting, fires, destru
ction of vehicles, and running skirmishes with a
thousand police officers wh
o fired tear gas.
Calm prevailed yesterday as Mayor Sharon Pratt Dixon gathe
red her top
administrators to discuss ways to prevent a third night of rioti
ng.
Deputy Police Chief Edward Spurlock said the disturbances were the worst
 in
Washington since 1968, after the assassination of Martin Luther King jr,
 the
black civil rights leader.
The violence, though contained within a few 
hundred square yards, crossed
16th Street, one of the city's main arteries, 
and came within walking
distance of the main residential, tourist and office
 areas.
For most Washingtonians, however, the main evidence of the riots was
 the
live coverage on television, the screams of fire and ambulance sirens a
nd
heavy activity by low-flying police helicopters.
The disturbances followe
d the shooting of a Hispanic man by a police officer
who was trying to detai
n him for public drinking. According to the police,
the man, now in a critic
al condition, drew a knife. According to a Hispanic
witness, he was handcuff
ed when shot.
This triggered the waves of violence against both property and
 the police on
Sunday and Monday evenings in the Mount Pleasant and Adams Mo
rgan areas.
The latest events have underlined simmering tensions between the
 generally
poor Hispanic community and the District of Columbia government a
nd police
force, which are predominantly black and, as such, reflect the cit
y's racial
composition.
The tensions in Washington between Hispanics and bla
cks have been matched in
other US cities, such as Miami, Los Angeles and Hou
ston, where there are
large Spanish-speaking populations, often made up of r
ecent immigrants, who
argue that they are badly treated and often excluded f
rom power.
Following the first night's riots, local residents told Ms Dixon 
that
Hispanic people were harassed by the police and poorly treated by city

agencies. Less than 4 per cent of the police are Hispanic, compared with at

least 10 per cent of the city's population. Many of the Hispanics are recent

refugees from central America and speak only Spanish.
Ms Dixon promised to 
improve communications and said district agencies would
hire more Hispanic p
eople. This is her first big test since she took over
four months ago from M
ayor Marion Barry, who, despite his drug and alcohol
problems, proved to be 
a wily operator in reducing conflicts in the city.
Sharon Pratt Dixon, mayor
 of Washington, who sometimes carries a broom as
token of her determination 
to clean up the city administration, has promised
more help for local Hispan
ics
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 6 </PAGE>
</D
OC>

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<DOC>
<DOCNO>FT921-6602</DOCNO>
<PROFILE>_AN-CB0CIABFFT</PROFILE>
<DATE>9202
27
</DATE>
<HEADLINE> FT  27 FEB 92 / Rio business protests at rising crime 
</HEADLINE>
<BYLINE>    By CHRISTINA LAMB </BYLINE>
<DATELINE>    RIO DE JAN
EIRO </DATELINE>
<TEXT>
THOUSANDS of Rio's hoteliers, shopkeepers, businessm
en and tourist agents
held a demonstration along Copacabana beach yesterday 
to protest against the
resort's increasing violence, which, they say, is des
troying its tourist
industry.
Since 1987, the number of tourists visiting Br
azil has plummetted from
almost 2m to 800,000, largely because of Rio's spir
alling crime rate. As a
result, Rio has suffered an estimated Dollars 400m l
oss in revenue,
according to Mr Ronaldo Monterosa, president of Embratur, th
e Brazilian
tourist authority.
'Over the last five years we have watched tou
rism collapse,' said Mr Philip
Carruthers, general manager of the Copacabana
 Palace hotel and president of
the Association of Hoteliers.
'Occupancy of f
ive-star hotels in peak months has fallen from 97 per cent to
63 per cent. T
he main reason is Rio's appalling image, which is based on a
fundamental rea
lity - complete lack of security.'
He complained that his hotel staff have t
o prevent guests leaving the hotel
with cameras, jewellery or watches becaus
e of the 'complete ineffectiveness'
of the police. 'The police here are part
 of the problem rather than the
solution.'
Immediately after the press confe
rence, two journalists were stopped at
knifepoint near the hotel and opposit
e a police cabin.
Mr Paulo Protasio, head of Rio's Chamber of Commerce, said
 'we need to
mobilise Rio's taxpayers to see that this constant drop in tour
ism, which is
the state's principal economic activity, is jeopardising every
one's jobs.'
He said the aim of yesterday's march was to press the state aut
horities into
taking action.
Rio's commercial and tourism associations have 
presented a plan to the state
governor for the creation of a new 1,500-stron
g bilingual tourist police
force which would be well-paid and better motivat
ed.
Mr Protasio pointed out that Rio should be capitalising on the World
Env
ironment Conference, which it is hosting in June, to present a new image.
</
TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 5 </PAGE>
</DOC>

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============= Transaction # 107 ==============================================
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============= Transaction # 108 ==============================================
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<DOC>
<DOCNO>FT933-15380</DOCNO>
<PROFILE>_AN-DGICIABGFT</PROFILE>
<DATE>930
709
</DATE>
<HEADLINE> FT  09 JUL 93 / Egypt hangs seven for terrorism </HEA
DLINE>
<BYLINE>    By MARK NICHOLSON </BYLINE>
<DATELINE>    CAIRO </DATELIN
E>
<TEXT>
SEVEN Islamic militants were hanged in Egypt yesterday on charges 
of
attacking foreign tourists and seeking to overthrow the government - the

greatest number of executions for political crimes in the country's recent
h
istory. Five were hanged in 1982 for assassinating President Anwar Sadat.
Th
e seven were convicted by a military court in April of six separate bomb
and
 firearm attacks on tourist buses and Nile cruisers late last year, in
one o
f which a young Englishwoman was killed.
The men were among 49 tried in the 
case, including six in absentia, who had
proclaimed loyalty to the Gamaa al-
Islamiyya extremist group which has
claimed responsibility for attacks on to
urism and security forces over a
year.
A total of 22 individuals have been s
entenced to death in trials arising
from politically-motivated violence sinc
e December last year. President
Hosni Mubarak has made a point of publicly r
atifying each one to signal his
government's resolve to crush the threat fro
m Islamic extremists.
Five more men face the scaffold later this month after
 being convicted in
May for their part in four bombings and an attempt on th
e life of Mr Safwat
Sherif, the information minister, who escaped a shooting
 near his Cairo home
with light injuries last April.
The government's determ
ination to mete out the severest penalties possible
on Islamic militants com
es despite rising opposition from western and
domestic human rights groups b
oth to the use of the death penalty and to the
conduct of trials by military
 courts.
</TEXT>
<XX>
Countries:-
</XX>
<CN>EGZ  Egypt, Africa.
</CN>
<XX>
I
ndustries:-
</XX>
<IN>P9229 Public Order and Safety, NEC.
</IN>
<XX>
Types:-

</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> 
London Page 4 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT933-15385</DOCNO>
<PROFILE>_AN-DGICIABBFT</PROFILE>
<DATE>930
709
</DATE>
<HEADLINE> FT  09 JUL 93 / Seven hanged for terrorism in Egypt: 
Attacks on tourists and trying to overthrow government </HEADLINE>
<BYLINE> 
   By MARK NICHOLSON </BYLINE>
<DATELINE>    CAIRO </DATELINE>
<TEXT>
SEVEN 
Islamic militants were hanged in Egypt yesterday on charges of
attacking for
eign tourists and seeking to overthrow the government - the
greatest number 
of executions for political crimes in the country's recent
history. Five wer
e hanged in 1982 for assassinating President Anwar Sadat.
The seven were con
victed by a military court in April of six separate bomb
and firearm attacks
 on tourist buses and Nile cruisers late last year, in
one of which a young 
Englishwoman was killed.
The men were among 49 tried in the case, including 
six in absentia, who had
proclaimed loyalty to the Gamaa al-Islamiyya extrem
ist group which has
claimed responsibility for attacks on tourism and securi
ty forces over the
past year.
A total of 22 individuals have been sentenced 
to death in trials arising
from politically-motivated violence since Decembe
r last year. President
Hosni Mubarak has made a point of publicly ratifying 
each one to signal his
government's resolve to crush the threat from Islamic
 extremists.
Five more men face the scaffold later this month after being co
nvicted in
May for their part in four bombings and an attempt on the life of
 Mr Safwat
Sherif, the information minister, who escaped a shooting near his
 Cairo home
with light injuries last April. Two men were hanged in June - th
e first
executions for political crimes in Egypt since 1982 - and the remain
der of
the 22 sentences were given in absentia.
The government's determinati
on to mete out the severest penalties possible
on Islamic militants comes de
spite rising opposition from western and
domestic human rights groups both t
o the use of the death penalty and to the
conduct of trials by military cour
ts.
President Mubarak shifted authority over such cases to military courts i
n
February to ensure the speediest possible process.
Yesterday's executions 
come a day after publication of Amnesty
International's annual report, in wh
ich it repeats opposition to use of the
death penalty and reiterates allegat
ions of torture, detention without trial
and unfair practices in the militar
y courts.
Just after yesterday's hangings took place in a Cairo prison, in s
equence
between 7am and 10am, the Arab Organisation of Human Rights condemne
d in a
press conference the use of military courts, which were 'outside the 
normal
legal framework', said Mr Mohammed Fayek, its secretary general.
Howe
ver, no such opposition is at all likely to deter President Mubarak from
rat
ifying further death sentences which may result from trials due before
these
 courts in the next few weeks.
In the biggest of these, a total of 700 alleg
ed members of the Jihad
extremist Islamic group are being tried in two concu
rrent cases, facing
charges which include the attempted assassination of pub
lic figures and
incitement to rebellion.
Moreover, the government has still 
either to apprehend or to bring charges
against those responsible for an app
arently random series of nail-bombings
in Cairo since mid-May which have kil
led 16 Egyptians.
</TEXT>
<XX>
Countries:-
</XX>
<CN>EGZ  Egypt, Africa.
</C
N>
<XX>
Industries:-
</XX>
<IN>P9229 Public Order and Safety, NEC.
</IN>
<XX
>
Types:-
</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Financial Times </PUB
>
<PAGE> London Page 4 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT942-11098</DOCNO>
<PROFILE>_AN-EEJC9AHIFT</PROFILE>
<DATE>940
506
</DATE>
<HEADLINE> FT  06 MAY 94 / Insurers face Dollars 16m claims on S
enna's death </HEADLINE>
<BYLINE>    By RICHARD LAPPER </BYLINE>
<TEXT>
Unde
rwriters at the troubled Lloyd's of London and other insurers face
claims of
 at least Dollars 16m (Pounds 11m) following the death last weekend
of Ayrto
n Senna, the racing driver.
Increasing fears about the safety of some profes
sional sports are also
expected to force up premiums for specialised persona
l accident cover.
Senna, a three-times Formula One world champion, died from
 injuries
sustained during the San Marino Grand Prix on May 1. He was covere
d against
death and injury by a personal accident policy, underwritten by in
surance
companies and Lloyd's syndicates. Typically, policies cover annual i
ncome
and medical and other expenses.
Additional multi-million dollar insura
nce claims are also expected to emerge
on so-called 'death and disgrace' pol
icies, which at least some of Senna's
sponsors are understood to have taken 
out to cover any loss of advertising
revenue and extra expenses resulting fr
om his death or injury.
One of these policies is thought to provide cover of
 at least Dollars 5m. A
range of other companies also insured the value of e
ndorsements - given by
Senna in return for a fee - to their products.
The pe
rsonal accident payout looks likely to be the highest ever by insurers
for a
 sportsman and is expected to lead to a contraction in this highly
specialis
ed corner of the insurance market.
Senna's death came just a day after that 
of fellow grand prix driver Roland
Ratzenberger at San Marino, and only a we
ek after the death of another
sportsman, the boxer Bradley Stone. Stone coll
apsed last week hours after an
unsuccessful challenge for the British super 
bantamweight title.
Annual premium income from sports professionals' persona
l accident premiums
is estimated to amount to about Pounds 20m, of which bet
ween 10 per cent and
15 per cent is generated by racing drivers. Professiona
l soccer players
account for up to 40 per cent of the total.
Previous heavy 
claims include Dollars 14m paid to an American footballer
paralysed after su
staining critical injuries.
'This is one of the largest personal accident lo
sses of any sportsman,' one
broker said, predicting that rates could rise by
 up to 20 per cent.
Senna, who was widely regarded as one of the best and sa
fest grand prix
drivers, is understood to have paid about Dollars 500,000 fo
r a policy which
covered accident and medical expenses. For the personal acc
ident element of
the policy, the basic rate of 0.75 per cent (of the sum ins
ured) was at the
lower end of the range of rates charged to racing drivers.

</TEXT>
<XX>
Companies:-
</XX>
<CO>Lloyd's of London.
</CO>
<XX>
Countries:-

</XX>
<CN>GBZ  United Kingdom, EC.
</CN>
<XX>
Industries:-
</XX>
<IN>P6411 
Insurance Agents, Brokers, and Service.
</IN>
<XX>
Types:-
</XX>
<TP>COMP  C
ompany News.
    COSTS  Product costs & Product prices.
</TP>
<PUB>The Finan
cial Times </PUB>
<PAGE> London Page 8 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT923-15264</DOCNO>
<PROFILE>_AN-CGCA3AALFT</PROFILE>
<DATE>920
703
</DATE>
<HEADLINE> FT  03 JUL 92 / World News in Brief: Playgroup death 
</HEADLINE>
<TEXT>
Police are investigating the death of a six-month-old gir
l found with fatal
head injuries at a playgroup in Milton Keynes, Bucks. The
 baby was asleep in
an empty office while her mother helped supervise other 
children.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 1 </PAG
E>
</DOC>

============= Transaction # 112 ==============================================
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<DOC>
<DOCNO>FT931-887</DOCNO>
<PROFILE>_AN-DC1AGAB7FT</PROFILE>
<DATE>93032
7
</DATE>
<HEADLINE> FT  27 MAR 93 / When terror takes a toll: How internati
onal tourist destinations are affected by political violence </HEADLINE>
<BY
LINE>    By MICHAEL SKAPINKER, NIKKI TAIT and MARK NICHOLSON </BYLINE>
<TEXT
>
A year ago, the Cairo Sheraton hotel was 75 per cent full. This month, 41

per cent of its rooms are occupied. Some Cairo hotels are just over a third

full. One five-star hotel is charging only Dollars 28 a room.
The Gama'a al-
Islamiyya, the Islamic militant group which is seeking to
destabilise the Eg
yptian government, has deliberately targeted the country's
tourist industry.
 Late last year, gunmen shot at tour buses in Upper Egypt,
killing one Briti
sh visitor. Earlier this year, two visitors were killed
when a bomb exploded
 in a cafe in Cairo's Tahrir Square.
Mr Fouad Sultan, the tourism minister, 
says earnings are down by a fifth on
last year. Many in the industry conside
r that an underestimate. The tourist
ministry has hired Burson-Marsteller, t
he world's biggest public relations
company, and Saatchi & Saatchi to help i
mprove the country's image.
While terrorism and the murder of foreign visito
rs can substantially damage
a nation's tourism, the effect differs widely fr
om country to country. As
Egypt agonises over how to salvage its fastest gro
wing industry and biggest
foreign currency earner, the tourist businesses of
 other countries have been
largely unaffected by terrorist and criminal viol
ence.
Third world destinations appear to suffer more than developed countrie
s from
attacks on tourists. Kenyan tourism was badly hit last year as a resu
lt of
publicity surrounding the trial of two game rangers accused of the mur
der of
British tourist Julie Ward in 1988, and by reports of other attacks o
n
tourists.
By contrast, the murder of a British visitor in Florida last yea
r had little
effect on the state's tourism. Thomson, the UK's biggest travel
 group, said
that while the depreciation of the pound against the dollar had
 deterred
some British travellers, reports of violence had little effect.
Si
milarly, Egyptian tourism has been much more severely affected by
terrorist 
incidents than the industries in the UK or the US. Despite years
of widely-r
eported deaths and injuries from IRA bombs, the British tourist
industry has
 suffered little long-term damage. Mr Alan Jefferson, the
British Tourist Au
thority's international marketing director, says his
offices abroad usually 
receive no more than a handful of calls after IRA
attacks. One New York trav
el agent said that, while some US tourists about
to leave for the UK had ask
ed about recent IRA bombs, they had decided to go
ahead with their trips.
Th
e UK tourist industry has been more severely affected by events elsewhere.
T
he US bombing of Libya in 1986 contributed to a 4 per cent fall in visitors

to 13.9m, as Americans, fearing terrorist reprisals, stayed at home. The
Gul
f War resulted in tourists to the UK falling to 16.7m in 1991, from 18m
the 
year before.
In the US, the bombing of New York's World Trade Centre last mo
nth produced
'no significant cancellations', according to the city's Convent
ion and
Visitors Bureau. Airlines servicing the New York area also say that 
there
has been very little impact on passenger traffic.
The National Parks S
ervice reports that the number of visitors to New York
attractions such as t
he Statue of Liberty and Ellis Island ran at about
3,500-4,000 daily during 
February, a typical number for the month.
While tourist destinations such as
 Egypt and Kenya might feel they are the
victims of double standards, travel
 industry executives say they suffer from
a perception that they are societi
es under siege. The futures of the US and
British governments are not percei
ved as being threatened by violent crime
or terrorism.
Although the IRA has 
bombed areas frequented by tourists, foreign visitors
to the UK have not bee
n specific targets as they have in Egypt. Mr Peter
Kerkar, chief executive o
f Cox & Kings Travel, a London-based company,
argues that American visitors 
to the UK are behaving quite logically in
ignoring IRA attacks but staying a
t home during the Gulf War and in the wake
of the bombing of Libya. 'The IRA
 is not singling out Americans. If they're
involved in an IRA incident, it's
 because of bad luck. In the case of Libya,
Americans were a target.'
One Br
itish travel industry manager points out that Florida, while plagued
by viol
ent crime, offers tourists a sense of safety, however illusory, that
countri
es such as Kenya and Egypt do not. 'America is familiar territory,
where eve
ryone speaks the same language and where half the TV programmes are
the ones
 you see at home.'
Mr Martin Brackenbury, president of the International Fed
eration of Tour
Operators, says there are a few general principles which cou
ntries can apply
when attempting to limit the damage caused to tourism by vi
olence. 'The
first is: never attempt to cover up. Clearly admit a problem if
 there is
one. The second is to put in place measures which can clearly be s
een to be
effective,' he says.
He says Kenya has responded constructively to
 Ifto recommendations. The
Kenyan government has begun aerial surveillance o
f game parks and has issued
advice about which areas of Nairobi are consider
ed dangerous.
Mr Martin Thompson, managing director of the London-based tour
 operator
Abercrombie & Kent, says his business to Kenya fell to 30,000 trav
ellers
last year from 34,000 in 1991 as a result of press coverage of violen
ce in
the country. However, he expects business to return to 1991 levels thi
s
year.
The Egyptian authorities, after initially criticising the western me
dia for
what it described as a biased, exaggerated campaign, is now taking a
ctive
steps to restore the country's image. It has supplied more tourist pol
ice,
troops and helicopters to protect visitors at sites in Upper Egypt.
Bot
h the government and the country's tourism industry are now hoping that
this
 iron-fisted policy will stem the terrorist attacks. Mr Taher el-Sharif,
cha
irman of the Egyptian Businessman's Association says: 'The problem is we
jus
t don't know when this will stop - unlike the Gulf War, when we knew
there w
ould eventually be an end.'
Mr Brackenbury says that once a destination is p
erceived as being safer,
recovery for the tourist industry can be swift. 'Pe
ople's memories are
short,' he says.
Reporting by Michael Skapinker, Nikki T
ait and Mark Nicholson
</TEXT>
<XX>
Countries:-
</XX>
<CN>XAZ  World.
</CN>

<XX>
Industries:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
</IN>
<XX>

Types:-
</XX>
<TP>IND  Industry profile.
    MKTS  Shipments.
    GOVT  Lega
l issues.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 9 </PAGE>

</DOC>

============= Transaction # 113 ==============================================
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<DOC>
<DOCNO>FT931-887</DOCNO>
<PROFILE>_AN-DC1AGAB7FT</PROFILE>
<DATE>93032
7
</DATE>
<HEADLINE> FT  27 MAR 93 / When terror takes a toll: How internati
onal tourist destinations are affected by political violence </HEADLINE>
<BY
LINE>    By MICHAEL SKAPINKER, NIKKI TAIT and MARK NICHOLSON </BYLINE>
<TEXT
>
A year ago, the Cairo Sheraton hotel was 75 per cent full. This month, 41

per cent of its rooms are occupied. Some Cairo hotels are just over a third

full. One five-star hotel is charging only Dollars 28 a room.
The Gama'a al-
Islamiyya, the Islamic militant group which is seeking to
destabilise the Eg
yptian government, has deliberately targeted the country's
tourist industry.
 Late last year, gunmen shot at tour buses in Upper Egypt,
killing one Briti
sh visitor. Earlier this year, two visitors were killed
when a bomb exploded
 in a cafe in Cairo's Tahrir Square.
Mr Fouad Sultan, the tourism minister, 
says earnings are down by a fifth on
last year. Many in the industry conside
r that an underestimate. The tourist
ministry has hired Burson-Marsteller, t
he world's biggest public relations
company, and Saatchi & Saatchi to help i
mprove the country's image.
While terrorism and the murder of foreign visito
rs can substantially damage
a nation's tourism, the effect differs widely fr
om country to country. As
Egypt agonises over how to salvage its fastest gro
wing industry and biggest
foreign currency earner, the tourist businesses of
 other countries have been
largely unaffected by terrorist and criminal viol
ence.
Third world destinations appear to suffer more than developed countrie
s from
attacks on tourists. Kenyan tourism was badly hit last year as a resu
lt of
publicity surrounding the trial of two game rangers accused of the mur
der of
British tourist Julie Ward in 1988, and by reports of other attacks o
n
tourists.
By contrast, the murder of a British visitor in Florida last yea
r had little
effect on the state's tourism. Thomson, the UK's biggest travel
 group, said
that while the depreciation of the pound against the dollar had
 deterred
some British travellers, reports of violence had little effect.
Si
milarly, Egyptian tourism has been much more severely affected by
terrorist 
incidents than the industries in the UK or the US. Despite years
of widely-r
eported deaths and injuries from IRA bombs, the British tourist
industry has
 suffered little long-term damage. Mr Alan Jefferson, the
British Tourist Au
thority's international marketing director, says his
offices abroad usually 
receive no more than a handful of calls after IRA
attacks. One New York trav
el agent said that, while some US tourists about
to leave for the UK had ask
ed about recent IRA bombs, they had decided to go
ahead with their trips.
Th
e UK tourist industry has been more severely affected by events elsewhere.
T
he US bombing of Libya in 1986 contributed to a 4 per cent fall in visitors

to 13.9m, as Americans, fearing terrorist reprisals, stayed at home. The
Gul
f War resulted in tourists to the UK falling to 16.7m in 1991, from 18m
the 
year before.
In the US, the bombing of New York's World Trade Centre last mo
nth produced
'no significant cancellations', according to the city's Convent
ion and
Visitors Bureau. Airlines servicing the New York area also say that 
there
has been very little impact on passenger traffic.
The National Parks S
ervice reports that the number of visitors to New York
attractions such as t
he Statue of Liberty and Ellis Island ran at about
3,500-4,000 daily during 
February, a typical number for the month.
While tourist destinations such as
 Egypt and Kenya might feel they are the
victims of double standards, travel
 industry executives say they suffer from
a perception that they are societi
es under siege. The futures of the US and
British governments are not percei
ved as being threatened by violent crime
or terrorism.
Although the IRA has 
bombed areas frequented by tourists, foreign visitors
to the UK have not bee
n specific targets as they have in Egypt. Mr Peter
Kerkar, chief executive o
f Cox & Kings Travel, a London-based company,
argues that American visitors 
to the UK are behaving quite logically in
ignoring IRA attacks but staying a
t home during the Gulf War and in the wake
of the bombing of Libya. 'The IRA
 is not singling out Americans. If they're
involved in an IRA incident, it's
 because of bad luck. In the case of Libya,
Americans were a target.'
One Br
itish travel industry manager points out that Florida, while plagued
by viol
ent crime, offers tourists a sense of safety, however illusory, that
countri
es such as Kenya and Egypt do not. 'America is familiar territory,
where eve
ryone speaks the same language and where half the TV programmes are
the ones
 you see at home.'
Mr Martin Brackenbury, president of the International Fed
eration of Tour
Operators, says there are a few general principles which cou
ntries can apply
when attempting to limit the damage caused to tourism by vi
olence. 'The
first is: never attempt to cover up. Clearly admit a problem if
 there is
one. The second is to put in place measures which can clearly be s
een to be
effective,' he says.
He says Kenya has responded constructively to
 Ifto recommendations. The
Kenyan government has begun aerial surveillance o
f game parks and has issued
advice about which areas of Nairobi are consider
ed dangerous.
Mr Martin Thompson, managing director of the London-based tour
 operator
Abercrombie & Kent, says his business to Kenya fell to 30,000 trav
ellers
last year from 34,000 in 1991 as a result of press coverage of violen
ce in
the country. However, he expects business to return to 1991 levels thi
s
year.
The Egyptian authorities, after initially criticising the western me
dia for
what it described as a biased, exaggerated campaign, is now taking a
ctive
steps to restore the country's image. It has supplied more tourist pol
ice,
troops and helicopters to protect visitors at sites in Upper Egypt.
Bot
h the government and the country's tourism industry are now hoping that
this
 iron-fisted policy will stem the terrorist attacks. Mr Taher el-Sharif,
cha
irman of the Egyptian Businessman's Association says: 'The problem is we
jus
t don't know when this will stop - unlike the Gulf War, when we knew
there w
ould eventually be an end.'
Mr Brackenbury says that once a destination is p
erceived as being safer,
recovery for the tourist industry can be swift. 'Pe
ople's memories are
short,' he says.
Reporting by Michael Skapinker, Nikki T
ait and Mark Nicholson
</TEXT>
<XX>
Countries:-
</XX>
<CN>XAZ  World.
</CN>

<XX>
Industries:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
</IN>
<XX>

Types:-
</XX>
<TP>IND  Industry profile.
    MKTS  Shipments.
    GOVT  Lega
l issues.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 9 </PAGE>

</DOC>

============= Transaction # 114 ==============================================
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<DOC>
<DOCNO>FT931-887</DOCNO>
<PROFILE>_AN-DC1AGAB7FT</PROFILE>
<DATE>93032
7
</DATE>
<HEADLINE> FT  27 MAR 93 / When terror takes a toll: How internati
onal tourist destinations are affected by political violence </HEADLINE>
<BY
LINE>    By MICHAEL SKAPINKER, NIKKI TAIT and MARK NICHOLSON </BYLINE>
<TEXT
>
A year ago, the Cairo Sheraton hotel was 75 per cent full. This month, 41

per cent of its rooms are occupied. Some Cairo hotels are just over a third

full. One five-star hotel is charging only Dollars 28 a room.
The Gama'a al-
Islamiyya, the Islamic militant group which is seeking to
destabilise the Eg
yptian government, has deliberately targeted the country's
tourist industry.
 Late last year, gunmen shot at tour buses in Upper Egypt,
killing one Briti
sh visitor. Earlier this year, two visitors were killed
when a bomb exploded
 in a cafe in Cairo's Tahrir Square.
Mr Fouad Sultan, the tourism minister, 
says earnings are down by a fifth on
last year. Many in the industry conside
r that an underestimate. The tourist
ministry has hired Burson-Marsteller, t
he world's biggest public relations
company, and Saatchi & Saatchi to help i
mprove the country's image.
While terrorism and the murder of foreign visito
rs can substantially damage
a nation's tourism, the effect differs widely fr
om country to country. As
Egypt agonises over how to salvage its fastest gro
wing industry and biggest
foreign currency earner, the tourist businesses of
 other countries have been
largely unaffected by terrorist and criminal viol
ence.
Third world destinations appear to suffer more than developed countrie
s from
attacks on tourists. Kenyan tourism was badly hit last year as a resu
lt of
publicity surrounding the trial of two game rangers accused of the mur
der of
British tourist Julie Ward in 1988, and by reports of other attacks o
n
tourists.
By contrast, the murder of a British visitor in Florida last yea
r had little
effect on the state's tourism. Thomson, the UK's biggest travel
 group, said
that while the depreciation of the pound against the dollar had
 deterred
some British travellers, reports of violence had little effect.
Si
milarly, Egyptian tourism has been much more severely affected by
terrorist 
incidents than the industries in the UK or the US. Despite years
of widely-r
eported deaths and injuries from IRA bombs, the British tourist
industry has
 suffered little long-term damage. Mr Alan Jefferson, the
British Tourist Au
thority's international marketing director, says his
offices abroad usually 
receive no more than a handful of calls after IRA
attacks. One New York trav
el agent said that, while some US tourists about
to leave for the UK had ask
ed about recent IRA bombs, they had decided to go
ahead with their trips.
Th
e UK tourist industry has been more severely affected by events elsewhere.
T
he US bombing of Libya in 1986 contributed to a 4 per cent fall in visitors

to 13.9m, as Americans, fearing terrorist reprisals, stayed at home. The
Gul
f War resulted in tourists to the UK falling to 16.7m in 1991, from 18m
the 
year before.
In the US, the bombing of New York's World Trade Centre last mo
nth produced
'no significant cancellations', according to the city's Convent
ion and
Visitors Bureau. Airlines servicing the New York area also say that 
there
has been very little impact on passenger traffic.
The National Parks S
ervice reports that the number of visitors to New York
attractions such as t
he Statue of Liberty and Ellis Island ran at about
3,500-4,000 daily during 
February, a typical number for the month.
While tourist destinations such as
 Egypt and Kenya might feel they are the
victims of double standards, travel
 industry executives say they suffer from
a perception that they are societi
es under siege. The futures of the US and
British governments are not percei
ved as being threatened by violent crime
or terrorism.
Although the IRA has 
bombed areas frequented by tourists, foreign visitors
to the UK have not bee
n specific targets as they have in Egypt. Mr Peter
Kerkar, chief executive o
f Cox & Kings Travel, a London-based company,
argues that American visitors 
to the UK are behaving quite logically in
ignoring IRA attacks but staying a
t home during the Gulf War and in the wake
of the bombing of Libya. 'The IRA
 is not singling out Americans. If they're
involved in an IRA incident, it's
 because of bad luck. In the case of Libya,
Americans were a target.'
One Br
itish travel industry manager points out that Florida, while plagued
by viol
ent crime, offers tourists a sense of safety, however illusory, that
countri
es such as Kenya and Egypt do not. 'America is familiar territory,
where eve
ryone speaks the same language and where half the TV programmes are
the ones
 you see at home.'
Mr Martin Brackenbury, president of the International Fed
eration of Tour
Operators, says there are a few general principles which cou
ntries can apply
when attempting to limit the damage caused to tourism by vi
olence. 'The
first is: never attempt to cover up. Clearly admit a problem if
 there is
one. The second is to put in place measures which can clearly be s
een to be
effective,' he says.
He says Kenya has responded constructively to
 Ifto recommendations. The
Kenyan government has begun aerial surveillance o
f game parks and has issued
advice about which areas of Nairobi are consider
ed dangerous.
Mr Martin Thompson, managing director of the London-based tour
 operator
Abercrombie & Kent, says his business to Kenya fell to 30,000 trav
ellers
last year from 34,000 in 1991 as a result of press coverage of violen
ce in
the country. However, he expects business to return to 1991 levels thi
s
year.
The Egyptian authorities, after initially criticising the western me
dia for
what it described as a biased, exaggerated campaign, is now taking a
ctive
steps to restore the country's image. It has supplied more tourist pol
ice,
troops and helicopters to protect visitors at sites in Upper Egypt.
Bot
h the government and the country's tourism industry are now hoping that
this
 iron-fisted policy will stem the terrorist attacks. Mr Taher el-Sharif,
cha
irman of the Egyptian Businessman's Association says: 'The problem is we
jus
t don't know when this will stop - unlike the Gulf War, when we knew
there w
ould eventually be an end.'
Mr Brackenbury says that once a destination is p
erceived as being safer,
recovery for the tourist industry can be swift. 'Pe
ople's memories are
short,' he says.
Reporting by Michael Skapinker, Nikki T
ait and Mark Nicholson
</TEXT>
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<DOC>
<DOCNO>FT931-1869</DOCNO>
<PROFILE>_AN-DCXAWAF0FT</PROFILE>
<DATE>9303
23
</DATE>
<HEADLINE> FT  23 MAR 93 / Jamaica takes steps to curb election v
iolence </HEADLINE>
<BYLINE>    By CANUTE JAMES </BYLINE>
<DATELINE>    KING
STON </DATELINE>
<TEXT>
JAMAICA'S political leaders have signed a code of co
nduct in an attempt to
reduce party political violence in the last week of c
ampaigning for next
Tuesday's general election.
The code, which constrains p
oliticians from statements and action which
could inflame political passions
, follows clashes between party factions and
which the police say have cause
d six deaths and several injuries.
A similar code of conduct, signed before 
the last election four years ago,
is credited with having reduced political 
tensions and violence. Police say
17 people were killed in incidents associa
ted with party politics in the
1989 election. In 1980 about 600 of the 800 d
eaths in Jamaica that year were
attributed to party political violence in th
e poll campaign.
Public opinion polls published at the weekend have given Mr
 P J Patterson's
incumbent People's National party a four-point lead over th
e Jamaica Labour
party of Mr Edward Seaga, a former prime minister.
</TEXT>

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<XX>
Types:-
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<TP>GOVT  Government News.
</TP>
<PUB>The Financial Time
s </PUB>
<PAGE> London Page 10 </PAGE>
</DOC>

============= Transaction # 128 ==============================================
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<DOCNO>FT933-7605</DOCNO>
<PROFILE>_AN-DHTCQADIFT</PROFILE>
<DATE>9308
20
</DATE>
<HEADLINE> FT  20 AUG 93 / Letters to the Editor: Spare a thought
 for European non-smokers </HEADLINE>
<BYLINE>    From Mr ONESIMO ALVAREZ-MO
RO </BYLINE>
<TEXT>
Dr M Singer should spare a thought for us European non-s
mokers who will not
be returning to a country where smoking has been made al
most
unconstitutional (Letters, August 18 and 19).
If a substantial majority
 of European residents are non-smokers, as
statistics suggest, then the Euro
pean tourist industry has a much bigger
market to think about than Dr Singer
 suggests. Unfortunately, things move
slowly and, while we are delighted to 
welcome Dr Singer back to our shores,
US tourist dollars will probably not c
ause the changes required.
The real changes to protect non-smokers will happ
en when that silent
majority stands up and complains. Otherwise we will have
 to continue to rely
on vocal US tourists and the one or two of us who are l
abelled as cranks.
Far from being an American pleasure, as Dr R M Davis sugg
ests, smoking can
be described as the true Montezuma's revenge, given all th
e death and
destruction it has caused.
But come back to Europe soon, Dr Sing
er, European non-smokers need all the
help we can get.
Onesimo Alvarez-Moro,

O'Donnell, 6, A-9-1,
28009 Madrid,
Spain
</TEXT>
<XX>
Countries:-
</XX>
<CN
>USZ  United States of America.
    XGZ  Europe.
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<XX>
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X>
<IN>P99   Nonclassifiable Establishments.
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<XX>
Types:-
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<TP>NE
WS  General News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 1
2 </PAGE>
</DOC>

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<PROFILE>_AN-EDRDZAARFT</PROFILE>
<DATE>940
418
</DATE>
<HEADLINE> FT  18 APR 94 / China holds three for boat deaths </H
EADLINE>
<BYLINE>    By AP </BYLINE>
<DATELINE>    BEIJING </DATELINE>
<TEXT
>
Under intense pressure to explain how 24 Taiwanese died in a boat fire,
Ch
ina announced yesterday the arrest of three men suspected of robbing and
mur
dering the tourists, AP reports from Beijing.
China's failure to explain the
 mysterious boat fire that killed 32 people -
eight mainland Chinese and the
 Taiwanese tourists - on a lake in eastern
China on March 31 has been threat
ening the growing detente between the two
sides.
Taiwan announced plans last
 week to ban travel to China and to suspend
cultural exchanges unless Beijin
g gave a satisfactory explanation.
After first describing the fire as an acc
ident China said on its national
television news that the Taiwanese had been
 robbed and murdered on Thousand
Island Lake by three young men.
</TEXT>
<XX
>
Countries:-
</XX>
<CN>CNZ  China, Asia.
</CN>
<XX>
Industries:-
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<IN>
P9221 Police Protection.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</
TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 3 </PAGE>
</DOC>

============= Transaction # 130 ==============================================
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<DOC>
<DOCNO>FT942-15049</DOCNO>
<PROFILE>_AN-EDRDZAARFT</PROFILE>
<DATE>940
418
</DATE>
<HEADLINE> FT  18 APR 94 / China holds three for boat deaths </H
EADLINE>
<BYLINE>    By AP </BYLINE>
<DATELINE>    BEIJING </DATELINE>
<TEXT
>
Under intense pressure to explain how 24 Taiwanese died in a boat fire,
Ch
ina announced yesterday the arrest of three men suspected of robbing and
mur
dering the tourists, AP reports from Beijing.
China's failure to explain the
 mysterious boat fire that killed 32 people -
eight mainland Chinese and the
 Taiwanese tourists - on a lake in eastern
China on March 31 has been threat
ening the growing detente between the two
sides.
Taiwan announced plans last
 week to ban travel to China and to suspend
cultural exchanges unless Beijin
g gave a satisfactory explanation.
After first describing the fire as an acc
ident China said on its national
television news that the Taiwanese had been
 robbed and murdered on Thousand
Island Lake by three young men.
</TEXT>
<XX
>
Countries:-
</XX>
<CN>CNZ  China, Asia.
</CN>
<XX>
Industries:-
</XX>
<IN>
P9221 Police Protection.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</
TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 3 </PAGE>
</DOC>

============= Transaction # 131 ==============================================
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<DOC>
<DOCNO>FT942-15049</DOCNO>
<PROFILE>_AN-EDRDZAARFT</PROFILE>
<DATE>940
418
</DATE>
<HEADLINE> FT  18 APR 94 / China holds three for boat deaths </H
EADLINE>
<BYLINE>    By AP </BYLINE>
<DATELINE>    BEIJING </DATELINE>
<TEXT
>
Under intense pressure to explain how 24 Taiwanese died in a boat fire,
Ch
ina announced yesterday the arrest of three men suspected of robbing and
mur
dering the tourists, AP reports from Beijing.
China's failure to explain the
 mysterious boat fire that killed 32 people -
eight mainland Chinese and the
 Taiwanese tourists - on a lake in eastern
China on March 31 has been threat
ening the growing detente between the two
sides.
Taiwan announced plans last
 week to ban travel to China and to suspend
cultural exchanges unless Beijin
g gave a satisfactory explanation.
After first describing the fire as an acc
ident China said on its national
television news that the Taiwanese had been
 robbed and murdered on Thousand
Island Lake by three young men.
</TEXT>
<XX
>
Countries:-
</XX>
<CN>CNZ  China, Asia.
</CN>
<XX>
Industries:-
</XX>
<IN>
P9221 Police Protection.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</
TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 3 </PAGE>
</DOC>

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============= Transaction # 133 ==============================================
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<DOC>
<DOCNO>FT932-4001</DOCNO>
<PROFILE>_AN-DFKB5ACJFT</PROFILE>
<DATE>9306
11
</DATE>
<HEADLINE> FT  11 JUN 93 / IRA admits planting two Tyneside bombs
 </HEADLINE>
<BYLINE>    By CHRIS TIGHE </BYLINE>
<TEXT>
THE IRA claimed res
ponsibility yesterday for setting off bombs at two
industrial compounds on T
yneside within 24 hours.
The first incident, in which a Gateshead gasholder 
was damaged by an
explosion and fire in the first few minutes of Wednesday m
orning, was
followed late on Wednesday night by two explosions at an Esso pe
trol and oil
storage terminal in North Shields.
No deaths or injuries result
ed, although no advance warnings were given.
Mr David Mellish, assistant chi
ef constable of Northumbria, said it seemed
the aim was was to achieve maxim
um damage and publicity rather than injury.
'But, because of the nature of t
he gas and petrol involved at both scenes,
it could have had potentially tre
mendous implications,' he said.
The Esso terminal was bombed by the IRA only
 seven weeks ago. 'It's not only
embarrassing, it's extremely annoying,' sai
d Esso.
Last May, the IRA admitted planting 11 incendiary devices at the nea
rby
MetroCentre shopping complex.
Newcastle University politics lecturer Mr 
David George, a terrorism
specialist, warned that the region's large number 
of Far East companies were
a potential target.
In its statement the IRA warn
ed; 'The British establishment are obviously
slow learners, but we in the IR
A are patient teachers.'
</TEXT>
<XX>
Countries:-
</XX>
<CN>GBZ  United King
dom, EC.
</CN>
<XX>
Industries:-
</XX>
<IN>P9229 Public Order and Safety, NE
C.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Financial
 Times </PUB>
<PAGE> London Page 9 </PAGE>
</DOC>

============= Transaction # 134 ==============================================
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<DOC>
<DOCNO>FT942-3936</DOCNO>
<PROFILE>_AN-EFMDJABEFT</PROFILE>
<DATE>9406
13
</DATE>
<HEADLINE> FT  13 JUN 94 / Death sentence for attack on Taiwanese
 </HEADLINE>
<BYLINE>    By AGENCIES </BYLINE>
<DATELINE>    TAIPEI </DATELI
NE>
<TEXT>
Yu Aijon, handcuffed, is flanked by police as he leaves the Hangz
hou
People's Court yesterday after being sentenced to death along with two o
ther
men for the murder of 32 Taiwanese tourists on a pleasure boat in China
's
coastal Zhejiang province on March 31, Agencies report from Taipei.
Delic
ate relations between Beijing and Taipei reached their lowest ebb after
the 
attack, but bilateral relations appeared to improve after China arrested
the
 three men in April.
Taiwan plans to hold a new round of high-level talks wi
th the mainland
Chinese government in Taipei in August, according to a Taiwa
nese newspaper.
The Straits Exchange Foundation plans to invite Mr Tang Shub
ei,
secretary-general of China's Association for Relations Across the Taiwan

Strait, to travel to Taipei in August for talks on how to expand contacts
b
etween the two bodies, the China Times reported.
</TEXT>
<XX>
Countries:-
</
XX>
<CN>CNZ  China, Asia.
    TWZ  Taiwan, Asia.
</CN>
<XX>
Industries:-
</X
X>
<IN>P9211 Courts.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP>

<PUB>The Financial Times </PUB>
<PAGE> London Page 5 </PAGE>
</DOC>

============= Transaction # 135 ==============================================
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<DOC>
<DOCNO>FT942-7353</DOCNO>
<PROFILE>_AN-EEZDOABHFT</PROFILE>
<DATE>9405
26
</DATE>
<HEADLINE> FT  26 MAY 94 / Taiwan ends China travel ban </HEADLIN
E>
<BYLINE>    By AP </BYLINE>
<DATELINE>    TAIPEI </DATELINE>
<TEXT>
Taiwa
nese travel agents lifted a 25-day boycott against China yesterday,
despite 
lingering anger over the death of 24 Taiwanese tourists in eastern
China two
 months ago, AP reports from Taipei.
The boycott was part of Taiwan's reacti
on to allegations that the tourists
were robbed and murdered and that China 
covered up the facts.
But the attempt to punish China appeared to have ended
 with travel agents
and the government each saying the boycott was the other
's initiative.
Travel agents say about 20,000 cancelled tours have cost them
 revenues of
between TDollars 40m to TDollars 100m (Pounds 1m to Pounds 2.5m
). Last year
about 1.5m Taiwanese travelled to China, pumping Dollars 3bn in
to the
Chinese tourism industry.
The Taipei Association of Travel Agents sai
d the lifting of the boycott was
approved by the Mainland Affairs Council, w
hich makes Taiwan's mainland
policy in the absence of official China-Taiwan 
ties.
Mr Micky Chen, the council's director of economic affairs, said the
go
vernment had never encouraged organised tours to China, believing it to be
a
 dangerous place, but was in no position to impose travel bans. 'It was
trav
el agents who started the boycott,' he said in an interview.
China and Taiwa
n do not recognise each other, and their trade and tourism
links, while taci
tly approved by both governments, are unofficial.
The bodies of the tourists
 and eight Chinese crewmen were found in the
burned-out hulk of a pleasure b
oat on Thousand Islands Lake in Zhejiang
province.
The victims' relatives co
mplained that they were denied information and
harassed when they visited th
e lake.
</TEXT>
<XX>
Countries:-
</XX>
<CN>CNZ  China, Asia.
    TWZ  Taiwan
, Asia.
</CN>
<XX>
Industries:-
</XX>
<IN>P4724 Travel Agencies.
    P4725 T
our Operators.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP>
<PUB>T
he Financial Times </PUB>
<PAGE> London Page 7 </PAGE>
</DOC>

============= Transaction # 136 ==============================================
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============= Transaction # 137 ==============================================
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<DOC>
<DOCNO>FT921-15976</DOCNO>
<PROFILE>_AN-CAGBXADBFT</PROFILE>
<DATE>920
107
</DATE>
<HEADLINE> FT  07 JAN 92 / Savimbi deplores killings </HEADLINE>

<BYLINE>    By REUTER </BYLINE>
<DATELINE>    ABIDJAN </DATELINE>
<TEXT>
AN
GOLAN opposition leader Jonas Savimbi said yesterday his former rebels
were 
not responsible for the deaths of four British travellers killed in an
ambus
h, Reuter reports from Abidjan.
However, Mr Savimbi, head of the Unita movem
ent, also said at a press
conference in the Ivory Coast that while he deplor
ed the killing of
tourists, he did not think it was wise for foreigners to t
ravel in a country
which had just ended a civil war. He blamed robbers for t
he attack, near a
base where thousands of former Unita rebels are confined.

</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 4 </PAGE>
</DOC>


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<DOC>
<DOCNO>FT911-3396</DOCNO>
<PROFILE>_AN-BDYBFAAWFT</PROFILE>
<DATE>9104
25
</DATE>
<HEADLINE> FT  25 APR 91 / Survey of Greece (14): Foreign visitor
s set to fall at least 10% - How the country's tourist bodies and hoteliers 
are trying to win back lost trade </HEADLINE>
<BYLINE>    By KERIN HOPE </BY
LINE>
<TEXT>
ZEUS XENIOS, the ancient Greek god in charge of offering hospit
ality to
strangers, seems to have turned his back on the tourist industry. F
or the
third time in six years, a disastrous plunge in bookings threatens to
 wreck
a promising year for earnings.
Once again, a US travel warning to its
 nationals to avoid the eastern
Mediterranean because of the risk of terrori
st attacks following the Gulf
war is scaring off the high-spending sector of
 the Greek market: Japanese
honeymooners, incentive groups and conference or
ganisers as well as the
older Americans who like cruising in the Aegean.
Sim
ilar advice in 1985 was blamed for two unfavourable seasons that
followed. T
hen came a terrorist attack aboard a cruise ship in 1988. This
year a series
 of bomb explosions damaged foreign bank branches and tourist
buses and a ba
dly aimed rocket narrowly missed a luxury hotel. There were no
injuries but 
concerns over visitors' safety have revived.
As in the past, the Greek Touri
st Organisation (EOT) is trying to win back
lost trade through heavier adver
tising. This year's campaign will cost Dr6bn
(Dollars 33m). It is being co-o
rdinated for the first time by a group of
Athens advertising agencies with i
nternational affiliations. This, it is
hoped, will prove more effective than
 relying on haphazard media-buying by
EOT offices abroad.
Senior Greek touri
sm officials have visited the big tour operators in
Britain and Germany, the
ir two main markets, as well as the US, offering
reassurances about airport 
security and the government's determination to
crack down on terrorism.
'We 
constantly point out that Athens is still one of the safest cities in
Europe
 for visitors, in spite of what has been going on,' says Mr Nikos
Iatrakos, 
EOT's secretary-general. 'However, we still face a considerable
drop in numb
ers this year, 10 per cent at minimum but perhaps as much as 20
per cent.'
I
n 1990, tourist arrivals reached a record 9.3m, a 9 per cent increase over
t
he previous year's 8.5m, the average figure for most of the past decade.
Off
icial foreign exchange inflows totalled Dollars 2.57bn, up from Dollars
1.89
bn in 1989.
But if credit card purchases, cruise earnings and tour operators
'
commissions paid abroad are counted in, overall tourist earnings rose to
D
ollars 4.1bn, almost 6 per cent of GDP. Income for 1991 was expected to be
w
ell over Dollars 5bn but 'now we'll be lucky to maintain last year's
levels,
' says Mr Iatrakos.
The worst-affected region this year will undoubtedly be 
Athens. Despite its
chronic traffic and pollution problems it remains the fo
cus for most
conferences and incentive tours and a starting point for the cl
assical tours
favoured by the Americans and Japanese.
Hopes of substantially
 boosting tourism in the capital during the 1990s
suffered a setback last au
tumn with the failure of Athens' bid to stage the
1996 Olympic Games.
Advanc
e bookings for the Mediterranean Games in July, one of several major
sports 
events planned as dress rehearsals for an Athens Olympics, are
disappointing
, according to the organisers.
But amid the general gloom, tourist officials
 note one optimistic pointer
for the future: the sale of the 100-year-old Gr
ande Bretagne Hotel, to a
Dutch-based investment company which has transferr
ed management to Ciga, the
international hotel group. As a family-run establ
ishment, Athens' best-known
luxury hotel could barely make ends meet, with o
ccupancy averaging only 55
per cent in recent years.
Ciga is expected to inv
est considerably in refurbishing to bring the Grande
Bretagne's facilities u
p to the standard of its other traditional luxury
hotels around Europe. 'The
 presence of a really top-quality hotel in Athens
will upgrade the surroundi
ng area and encourage other hotels to try harder,'
says Mr Iatrakos.
The gov
ernment is already trying to ensure that older first-class hotels
around Gre
ece, including some in spectacular settings, are upgraded to the
standards o
f increasingly demanding guests. It is breaking up a
state-controlled hotel 
chain and offering individual units to private
operators on long-term leases
.
Improving hotel facilities is one of the easier ways of attracting more
ol
der, wealthier tourists, something Greece has been trying to do for years
bu
t without conspicuous success.
With 433,000 hotel beds, Greece has no shorta
ge of accommodation. But many
large island resort hotels built in the boom y
ears of the 1970s have not
been maintained to international tour operators' 
standards. Occupancy levels
in Corfu and Rhodes have slipped in recent years
.
It is no coincidence that the one area where bookings picked up sharply on
ce
the Gulf war ended was Crete, which boasts some of the best-run hotels in

Greece. Last year the island drew over 1.7m tourists, close to 25 per cent

of total arrivals.
'Large-scale tourism didn't start in Crete till the early
 1980s. The resort
hotels are newer and better managed and many of the mista
kes made elsewhere
were avoided. As a result, we get a very high proportion 
of return
visitors,' says Mr Thanos Habipis, chairman of the Cretan Hotelier
s'
Federation.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page VI
 Photograph The main square in Heraklion, Crete - where bookings picked up a
fter the Gulf War ended (Omitted). </PAGE>
</DOC>

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<DOC>
<DOCNO>FT944-18914</DOCNO>
<PROFILE>_AN-EJBBDAAZFT</PROFILE>
<DATE>941
001
</DATE>
<HEADLINE> FT  01 OCT 94 / Indian food exports hit by plague pan
ic </HEADLINE>
<BYLINE>    By STEFAN WAGSTYL </BYLINE>
<DATELINE>    NEW DEL
HI </DATELINE>
<TEXT>
India's businessmen were yesterday counting the growin
g economic cost of the
plague, with tourism and food exports the two sectors
 hardest hit.
The disease, which has killed about 50 people and left 2,000 o
thers sick,
has disrupted the travel trade and exports. Hotels and tour oper
ators,
gearing up for the start of the tourist season, have reported cancell
ations
by groups from Europe, the Far East and North America. Some business

visitors have cancelled trips. At least three trade fairs have been
postpone
d.
Trade with the Gulf states, worth Dollars 3bn a year, has been badly hit 
by
the decision by Gulf governments to close air and sea links with India. T
he
biggest impact is on exporters of fresh food, who rely on the Gulf for 70

per cent of their overseas sales.
Food exporters are having to cancel purch
ases, put produce in store or try
to sell domestically. 'After three years o
f effort in promoting exports we
are back at square one,' said Mr Gian Nega,
 assistant director of the
Agricultural and Processed Food Products Export D
evelopment Authority. Fresh
food exports to the Gulf last year totalled Doll
ars 177m.
Health officials, including Dr N K Shah, the resident representati
ve of the
World Health Organisation, accused the Gulf countries and other st
ates which
have cut trade links of over-reacting. The Indian government laun
ched a
publicity campaign aimed at calming the fears of tourists, business
t
ravellers and importers of Indian goods. Mr T Khanna, the commerce
secretary
, expressed concern at the potential damage to Indian trade.
'There's been a
 panic reaction from some of our trading partners. But I
believe it will soo
n blow over.'
Speaking in London, Mr Manmohan Singh, the finance minister, s
aid the
countries which had imposed restrictions on travel and imports riske
d
hampering efforts to deal with the problem.
'We are trying to create an at
mosphere where people have confidence that
plague is no longer an incurable 
disease,' he said. 'Creating an atmosphere
of panic which drives the whole t
hing underground would do a great
disservice to both India and the outside w
orld,' he said.
An official of KLM, the Dutch airline, in Delhi said much ha
rm had already
been done. 'The whole image of India has already been affecte
d.' He
estimated 25-30 per cent of tourists who had planned to travel to Ind
ia by
KLM this week and next had called off their trips. Other European airl
ines,
including British Airways, Lufthansa and Swissair, also reported
cance
llations by tourist groups.
Yesterday's most serious development in the spre
ad of the plague were the
deaths of an 18-year-old man and a five-year-old b
oy in Delhi. They were the
first deaths outside the western city of Surat an
d its neighbourhood, where
pneumonic plague erupted last week. The tally of 
suspected cases rose by
about 700 yesterday to 2,500, mainly in Surat and in
 remote eastern
Maharashtra, where bubonic plague broke out a month ago.
Ind
ia's exports in August were Dollars 2.11bn, some 24.6 per cent higher
than t
he same month last year. This followed four months of sluggish
performance w
hich gave rise to concern about future prospects. Figures
published yesterda
y by the commerce ministry showed exports in the five
months to August were 
10.6 per cent up, compared with 8.3 per cent for the
four months to July. Bu
t the growth rate is still below the annual target of
15 per cent or more.
<
/TEXT>
<XX>
Countries:-
</XX>
<CN>INZ  India, Asia.
</CN>
<XX>
Industries:-

</XX>
<IN>P9311 Finance, Taxation, and Monetary Policy.
    P9721 Internatio
nal Affairs.
    P01   Agricultural Production-Crops.
    P02   Agricultural
 Production-Livestock.
</IN>
<XX>
Types:-
</XX>
<TP>ECON  Economic Indicator
s.
    NEWS  General News.
    MKTS  Foreign trade.
</TP>
<PUB>The Financial
 Times </PUB>
<PAGE> London Page 3 </PAGE>
</DOC>

============= Transaction # 140 ==============================================
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============= Transaction # 141 ==============================================
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<DOC>
<DOCNO>FT944-14159</DOCNO>
<PROFILE>_AN-EJYD1ABAFT</PROFILE>
<DATE>941
025
</DATE>
<HEADLINE> FT  25 OCT 94 / Sri Lanka counts cost of bombing </HE
ADLINE>
<BYLINE>    By STEFAN WAGSTYL and REUTER </BYLINE>
<DATELINE>    NEW
 DELHI, COLOMBO </DATELINE>
<TEXT>
The assassination on Sunday of Mr Gamini 
Dissanayake, the Sri Lankan
opposition leader, is a grim reminder of the vio
lence which permeates the
island's politics.
Mr Dissanayake's death comes le
ss than 18 months after assassins claimed the
lives of two other prominent p
oliticians - Mr Lalith Athulathmudali, a close
colleague of Mr Dissanayake, 
and President Ranasinghe Premadasa, who like Mr
Dissanayake was blown up in 
the middle of a crowd by a suicide bomber.
In each case the security forces 
suspect the hand of the LTTE, the Tamil
Tiger separatist militants fighting 
for an independent homeland for ethnic
Tamils in the north. But the LTTE yes
terday denied it was involved, and
police have not in the past found enough 
evidence to prove their suspicions.
Police in the capital Colombo said yeste
rday a Tamil woman suicide bomber
whose severed head was found on top of a t
wo-storey building was responsible
for the blast, which killed 52 people.
Th
e tradition of violence predates the LTTE, going back at least as far as
the
 assassination of the late prime minister, Mr Solomon Bandaranaike, who
was 
killed in 1959 by a disgruntled Buddhist monk.
Mr Dissanayake's bloody death
 at the age of 52 brings shock, confusion and
uncertainty to Sri Lankan poli
tics. Its impact also seems likely to spread
to the economy, particularly th
e tourist industry.
The immediate effect is to rob the opposition United Nat
ional party of its
presidential candidate for the election which is due to b
e held next month
in which Mr Dissanayake was running against Mrs Chandrika 
Kumaratunge, the
prime minister. The government, while postponing indefinite
ly peace talks
set for yesterday with the Tamil rebels, said the November 9 
presidential
poll would go ahead despite the attack.
Mr Dissanayake was an u
rbane, western-educated lawyer on the UNP's
conservative wing. He had little
 chance of winning against Mrs Kumaratunge,
who won a general election only 
in August when she took power from a UNP
jaded after 17 years' rule. But Mr 
Dissanayake had gone some way to
rebuilding party morale.
His place could no
w be taken by Mr Ranil Wickremasinghe, who was prime
minister until August, 
or possibly by the incumbent president and UNP elder
statesman, Mr D B Wijet
unga. Either man might hope to capitalise on a
possible wave of sympathy amo
ng the majority Sinhalese for Mr Dissanayake or
for the tough pro-military p
olicy he supported on the Tigers - a policy
which may have cost him his life
.
Equally important, Mr Dissanayake's death has called into question Mrs
Kum
aratunge's whole approach to the Tamil question. She was elected on a
promis
e to try to make peace with the LTTE, a promise which she has bravely
and ra
pidly attempted to put into effect by moves including lifting an
economic em
bargo on the Tigers' northern stronghold in the Jaffna peninsula.
Government
 officials this month started talks with LTTE representatives.
Despite conti
nuing LTTE attacks on Sri Lankan targets, including ships, Mrs
Kumaratunge p
ersisted with the peace effort. Against the advice of army
officers, she tru
sted ambiguous peace messages put out by Mr V Prabakaran,
the LTTE leader. N
ow her strategy has been thrown into jeopardy.
The Colombo stock market was 
closed yesterday amid an island-wide curfew
imposed after the attack. Mr Jay
adeva Uyangoda, an economist attached to
Colombo University, said the econom
y would suffer in the short term due to
the attack. 'Long term stability wil
l depend on any social unrest and the
overall political situation,' he added
.
'In the past, such dramatic assassinations have not impacted on society,
w
hich has come to terms with the deaths of major political figures. Foreign
i
nvestors will react only if there is social unrest. Otherwise they will
wait
 and see what happens before taking the next step.'
Sri Lanka has shown amaz
ing resilience to political deaths. Even last year's
two assassinations did 
not throw the country's democratic institutions into
disarray: there was lit
tle street violence and this year's general election
was peaceful and judged
 to be fair. The economy has continued to grow, with
gross domestic product 
up 5.7 per cent last year; the tourists have kept
coming.
Yet it is hard to 
believe that Sri Lanka can forever enjoy its economic
success and holiday pa
radise reputation while the streets of Colombo are
regularly soaked in blood
.
</TEXT>
<XX>
Countries:-
</XX>
<CN>LKZ  Sri Lanka, Asia.
</CN>
<XX>
Indust
ries:-
</XX>
<IN>P9229 Public Order and Safety, NEC.
</IN>
<XX>
Types:-
</XX
>
<TP>NEWS  General News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> Londo
n Page 6 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT944-18821</DOCNO>
<PROFILE>_AN-EJBBDADKFT</PROFILE>
<DATE>941
001
</DATE>
<HEADLINE> FT  01 OCT 94 / India steps up efforts to tackle plag
ue </HEADLINE>
<BYLINE>    By CLIVE COOKSON and STEFAN WAGSTYL </BYLINE>
<DA
TELINE>    LONDON, NEW DELHI </DATELINE>
<TEXT>
Indian authorities yesterday
 stepped up efforts to stop the spread of
pneumonic plague, while struggling
 to contain the economic threat posed by
the growing number of overseas trav
el restrictions.
The disease claimed the lives of two people in the capital,
 Delhi, yesterday
 -the first reported deaths outside the western city of Su
rat where plague
broke out last week. The deaths pushed the official death t
oll to more than
50, while the number of suspected plague cases rose to 2,50
0.
Meanwhile, officials in the capital moved to close all schools and cinema
s
to prevent the plague bacteria spreading - and advised residents to cover

their faces with masks or handkerchiefs in crowded places.
The authorities' 
efforts have so far failed to reassure overseas governments
and visitors. KL
M, the Dutch airline, said that 25-30 per cent of tourists
who had planned t
o travel to India by KLM this week and next had called off
their trips.
In t
he UK, Thomson, the largest holiday company, cancelled its Indian tours
sche
duled for the first two weeks of October. Beach holidays in Goa would go
ahe
ad, although people who decided to cancel would receive full refunds.
The mo
ve came as many Asian and Middle Eastern governments banned all
flights to a
nd from India, and several European states imposed new medical
checks on pas
sengers arriving from the country.
The UK health department said its plague 
surveillance system had identified
eight people showing flu-like symptoms 'w
ho may be infected'. But the
Communicable Diseases Surveillance Centre said 
later that medical tests had
cleared seven of them, while the eighth was unl
ikely to have the plague.
Dr Kenneth Calman, Britain's chief medical officer
, said the system would
pick up more suspect cases. 'Should any cases be con
firmed, they will be
treated effectively with routinely available antibiotic
s,' he said.
Mr Manmohan Singh, the Indian finance minister who is visiting 
London,
attacked countries that had imposed travel and trade restrictions on
 India.
Indian food exports hit, Page 3
</TEXT>
<XX>
Countries:-
</XX>
<CN>I
NZ  India, Asia.
</CN>
<XX>
Industries:-
</XX>
<IN>P9431 Administration of P
ublic Health Programs.
    P9721 International Affairs.
</IN>
<XX>
Types:-
<
/XX>
<TP>NEWS  General News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> Lo
ndon Page 22 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT932-14950</DOCNO>
<PROFILE>_AN-DDPB8AA8FT</PROFILE>
<DATE>930
416
</DATE>
<HEADLINE> FT  16 APR 93 / S Africa counts the cost of mass acti
on </HEADLINE>
<BYLINE>    By PATTI WALDMEIR </BYLINE>
<DATELINE>    JOHANNE
SBURG </DATELINE>
<TEXT>
SOUTH AFRICA was yesterday counting the political a
nd economic cost of
Wednesday's national protest strike which left 17 people
 dead.
Yesterday an angry mob attacked two whites in the black homeland of T
ranskei
less than 48 hours after the slaying of two white South African tour
ists,
police said.
The death toll from Wednesday's protest rose to 17 after 
11 people were
massacred in Natal province following a commemoration rally f
or slain
African National Congress leader Chris Hani.
However, it was not cl
ear how closely the deaths were related to the ANC
protest, given that such 
massacres have become a regular occurrence in
Natal.
There were further viol
ent incidents in Port Elizabeth, Cape Town and on the
East Rand near Johanne
sburg. The black township of Soweto was reported
quiet.
Further mass protest
s are planned for tomorrow, Sunday and Monday, raising
the risk of further v
iolence.
The ANC has called another national protest strike for Monday, the 
day Mr
Hani will be buried.
Yesterday it appeared the political impact of th
e Hani assassination might
prove positive, as the South African government a
nnounced it would drop
crucial preconditions to the establishment of the fir
st phase of a
multi-racial interim government, the Transitional Executive Co
uncil.
The council would include representatives of all the main parties, an
d would
have sub-councils to advise and monitor government actions in areas 
such as
law and order, defence, finance and foreign affairs.
Mr Roelf Meyer,
 the ANC's chief negotiator, said the government would no
longer insist that
 the 26 parties to the multi-party negotiating forum agree
a transitional co
nstitution before this council could be formed. This
removes a big obstacle 
to formation of the Council, which Mr Meyer said
could be agreed by May.
How
ever, he cautioned that some parties, such as the Inkatha Freedom Party,
mig
ht object, causing further delays. Inkatha believes there should be no
exten
ded transition to full democracy.
Meanwhile, the US state department advised
 Americans to stay away from black
homelands and townships in South Africa. 
Transkei leader Major-General Bantu
Holomisa said armed police were being se
nt to protect tourists in the
homeland's popular coastal resorts, but South 
Africans were advised to avoid
Transkei.
Ms Michelle Cohen, executive direct
or of the US chamber of commerce, said
she knew of businessmen, representing
 US companies which stuck with South
Africa through sanctions, curtailing vi
sits to the country because of the
turmoil.
She expected a hefty rise in the
 cost of insurance on trade with South
Africa. 'We'll be on the same list as
 Vietnam. . . Sarajevo.'
</TEXT>
<XX>
Countries:-
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a, Africa.
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Industries:-
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<IN>P9721 International Affairs.
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<TP>NEWS  General News.
</TP>
<PUB>The Financial Time
s </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT932-14950</DOCNO>
<PROFILE>_AN-DDPB8AA8FT</PROFILE>
<DATE>930
416
</DATE>
<HEADLINE> FT  16 APR 93 / S Africa counts the cost of mass acti
on </HEADLINE>
<BYLINE>    By PATTI WALDMEIR </BYLINE>
<DATELINE>    JOHANNE
SBURG </DATELINE>
<TEXT>
SOUTH AFRICA was yesterday counting the political a
nd economic cost of
Wednesday's national protest strike which left 17 people
 dead.
Yesterday an angry mob attacked two whites in the black homeland of T
ranskei
less than 48 hours after the slaying of two white South African tour
ists,
police said.
The death toll from Wednesday's protest rose to 17 after 
11 people were
massacred in Natal province following a commemoration rally f
or slain
African National Congress leader Chris Hani.
However, it was not cl
ear how closely the deaths were related to the ANC
protest, given that such 
massacres have become a regular occurrence in
Natal.
There were further viol
ent incidents in Port Elizabeth, Cape Town and on the
East Rand near Johanne
sburg. The black township of Soweto was reported
quiet.
Further mass protest
s are planned for tomorrow, Sunday and Monday, raising
the risk of further v
iolence.
The ANC has called another national protest strike for Monday, the 
day Mr
Hani will be buried.
Yesterday it appeared the political impact of th
e Hani assassination might
prove positive, as the South African government a
nnounced it would drop
crucial preconditions to the establishment of the fir
st phase of a
multi-racial interim government, the Transitional Executive Co
uncil.
The council would include representatives of all the main parties, an
d would
have sub-councils to advise and monitor government actions in areas 
such as
law and order, defence, finance and foreign affairs.
Mr Roelf Meyer,
 the ANC's chief negotiator, said the government would no
longer insist that
 the 26 parties to the multi-party negotiating forum agree
a transitional co
nstitution before this council could be formed. This
removes a big obstacle 
to formation of the Council, which Mr Meyer said
could be agreed by May.
How
ever, he cautioned that some parties, such as the Inkatha Freedom Party,
mig
ht object, causing further delays. Inkatha believes there should be no
exten
ded transition to full democracy.
Meanwhile, the US state department advised
 Americans to stay away from black
homelands and townships in South Africa. 
Transkei leader Major-General Bantu
Holomisa said armed police were being se
nt to protect tourists in the
homeland's popular coastal resorts, but South 
Africans were advised to avoid
Transkei.
Ms Michelle Cohen, executive direct
or of the US chamber of commerce, said
she knew of businessmen, representing
 US companies which stuck with South
Africa through sanctions, curtailing vi
sits to the country because of the
turmoil.
She expected a hefty rise in the
 cost of insurance on trade with South
Africa. 'We'll be on the same list as
 Vietnam. . . Sarajevo.'
</TEXT>
<XX>
Countries:-
</XX>
<CN>ZAZ  South Afric
a, Africa.
</CN>
<XX>
Industries:-
</XX>
<IN>P9721 International Affairs.
</
IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Financial Time
s </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 145 ==============================================
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416
</DATE>
<HEADLINE> FT  16 APR 93 / S Africa counts the cost of mass acti
on </HEADLINE>
<BYLINE>    By PATTI WALDMEIR </BYLINE>
<DATELINE>    JOHANNE
SBURG </DATELINE>
<TEXT>
SOUTH AFRICA was yesterday counting the political a
nd economic cost of
Wednesday's national protest strike which left 17 people
 dead.
Yesterday an angry mob attacked two whites in the black homeland of T
ranskei
less than 48 hours after the slaying of two white South African tour
ists,
police said.
The death toll from Wednesday's protest rose to 17 after 
11 people were
massacred in Natal province following a commemoration rally f
or slain
African National Congress leader Chris Hani.
However, it was not cl
ear how closely the deaths were related to the ANC
protest, given that such 
massacres have become a regular occurrence in
Natal.
There were further viol
ent incidents in Port Elizabeth, Cape Town and on the
East Rand near Johanne
sburg. The black township of Soweto was reported
quiet.
Further mass protest
s are planned for tomorrow, Sunday and Monday, raising
the risk of further v
iolence.
The ANC has called another national protest strike for Monday, the 
day Mr
Hani will be buried.
Yesterday it appeared the political impact of th
e Hani assassination might
prove positive, as the South African government a
nnounced it would drop
crucial preconditions to the establishment of the fir
st phase of a
multi-racial interim government, the Transitional Executive Co
uncil.
The council would include representatives of all the main parties, an
d would
have sub-councils to advise and monitor government actions in areas 
such as
law and order, defence, finance and foreign affairs.
Mr Roelf Meyer,
 the ANC's chief negotiator, said the government would no
longer insist that
 the 26 parties to the multi-party negotiating forum agree
a transitional co
nstitution before this council could be formed. This
removes a big obstacle 
to formation of the Council, which Mr Meyer said
could be agreed by May.
How
ever, he cautioned that some parties, such as the Inkatha Freedom Party,
mig
ht object, causing further delays. Inkatha believes there should be no
exten
ded transition to full democracy.
Meanwhile, the US state department advised
 Americans to stay away from black
homelands and townships in South Africa. 
Transkei leader Major-General Bantu
Holomisa said armed police were being se
nt to protect tourists in the
homeland's popular coastal resorts, but South 
Africans were advised to avoid
Transkei.
Ms Michelle Cohen, executive direct
or of the US chamber of commerce, said
she knew of businessmen, representing
 US companies which stuck with South
Africa through sanctions, curtailing vi
sits to the country because of the
turmoil.
She expected a hefty rise in the
 cost of insurance on trade with South
Africa. 'We'll be on the same list as
 Vietnam. . . Sarajevo.'
</TEXT>
<XX>
Countries:-
</XX>
<CN>ZAZ  South Afric
a, Africa.
</CN>
<XX>
Industries:-
</XX>
<IN>P9721 International Affairs.
</
IN>
<XX>
Types:-
</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Financial Time
s </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 146 ==============================================
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<DOC>
<DOCNO>FT923-6166</DOCNO>
<PROFILE>_AN-CH0BVAB5FT</PROFILE>
<DATE>9208
26
</DATE>
<HEADLINE> FT  26 AUG 92 / Business and the Environment: Everyone
's losing their marbles - Haig Simonian describes the furore surrounding one
 of the world's most famous quarries </HEADLINE>
<BYLINE>    By HAIG SIMONIA
N </BYLINE>
<TEXT>
In the marble quarries high above Carrara in Tuscany, whe
re Michelangelo
chose the slabs for his future masterpieces, an almighty row
 has broken out.
Like hundreds of other squabbles between industry and envir
onmentalists, it
has driven a wedge between those concerned about pollution 
and the landscape
and others more preoccupied with profits and peoples' live
lihoods.
But the battle between the marble quarriers of Carrara, on whom the
 town's
economy largely depends, and the local council, supported by the Tus
can
regional administration, cuts much deeper than the gashes in the mountai
ns
from which marble has been extracted over the centuries and which are now
 at
the heart of the rumpus.
Under plans to develop the local Apuan park, th
e name for the area which
covers the mountains above Carrara and embraces mo
st of the quarries,
industrialists fear their businesses are at risk. Three 
high-altitude
quarries have already closed owing to the enforcement of rules
 banning
excavation above 1,200 metres. More could follow, they warn.
For ma
ny locals, not just in the marble business, the quarries, sawmills and
assoc
iated processing facilities which dominate the landscape are more
intrinisic
 to Carrara, its history and surroundings, than any attempts to
set up an in
dustry-free zone in the hills. But for others, the park
represents the first
 serious attempt by the authorities to check the
unbridled expansion of the 
quarries since their origins.
The business of quarrying the lightly grained 
white stone, for which Carrara
is famous, has certainly left its mark. From 
a distance, especially in
winter, visitors regularly mistake the huge white 
gashes along the local
stretch of the Appenines, for snow. Only when they ap
proach on roads like
the narrow, twisty lane which leads up to the village o
f Colonnata above
Carrara, do they realise that what they are seeing are vas
t white slices
gorged out of the face of the rock.
Elsewhere, the quarrying 
is less immediately striking, as at the disused
workings which litter the ar
ea. Often, they are all that is left of
centuries of labour cutting hundreds
 of feet into the mountain, only to be
abandoned when a vein has run out, or
 the stone has become too difficult to
extract commercially. All around are 
piles of debris, testifying to the fact
that often less than 10 per cent of 
the stone extracted is suitable for
sale.
For Simonetta Cattani Lazzareschi,
 head of the Carrara Industrialists'
Association, the quarries are a thing o
f beauty. 'Look,' she says, pointing
to the workings above the churchyard at
 Colonnata, 'have you ever seen
anything so splendid?'
Lazzareschi, the only
 woman to head an Industrialists' Association in Italy,
is not a lady to be 
crossed in a hurry. Her strong features betray the
traits of the Greek and A
rab craftsmen who, she says, were first brought
into the region by the Roman
s to work the stone.
Perceptions of beauty are somewhat different at Carrara
 town hall, where
Alberto Pincione is mayor. The marble-cladding of the mode
rn, two-storey
building highlights the trade's importance for the town, espe
cially now that
so much of the heavy public-sector industry brought into the
 area by
Mussolini in the late 1920s has closed down, leaving 6,000 unemploy
ed.
'No one wants to close the quarries,' he says. 'But they have to observe
 the
rules on protecting the landscape and maintaining safety standards'.
Bo
th are touchy subjects within the left-leaning council, dominated until
rece
ntly by the Communist Party. 'There have been 44 deaths in the quarries
sinc
e 1977, and almost as many serious injuries,' says Vittorio Prayer, a
local 
journalist. His fingers quickly find the page in a specialised medical
magaz
ine on industrial injuries showing a gruesome colour photograph of a
huge ma
rble block, one side spattered with blood.
The quarrel now raging over the i
mplications of the park is as complex as
might be expected in a one-industry
 town, where the trade is dominated by a
handful of aggressively independent
 entrepreneurial families which have,
until recently, been left largely to t
hemselves.
The quarriers claim the park, first mooted in 1975, poses a more 
serious
threat to their livelihoods than even the depression of the late 192
0s,
which prompted Mussolini to develop many of the now defunct alternative

sources of employment in the region.
Since then, the number of people workin
g in the quarries has fallen as new
technology has replaced manual labour an
d the highly fragmented quarries
have been rationalised into the hands of re
latively few families and big
companies.
Only about 1,900 people now work in
 quarrying, compared with around 14,000
at the beginning of the century. How
ever, Lazzareschi reckons about 1,000
jobs hang on every one occupied in the
 mountains.
The valleys and plain below the city echo to the repetitive grin
ding of
hundreds of sawmills operating around the clock to cut huge blocks o
f marble
into thin slices for cladding skyscrapers, making table tops and ev
en
gravestones. Around a quarter of the world's stone cutting facilites are 
in
Carrara, according to the Industrialists' Association.
The quarry owners 
fear that if the park one day receives national, rather
than regional, statu
s, all quarrying will have to stop. 'The rules governing
national parks in I
taly prohibit excavation,' says Lazzareschi. 'Given the
poor financial state
 of the Tuscany region, the authorities are bound to try
to shift the burden
 for the park to the state. That means we would close.'
The demise of quarry
ing would also threaten the substantial tourist business
which has developed
 in its wake. The quarries and exposed peaks may not be
aesthetically appeal
ing to all, but they are often breathtaking and stand as
historical monument
s in their own right.
'Closure is crazy. It would put us all out of business
,' says Vannucci
Venanzio, the owner of a small restaurant in Colonnata that
 lives off the
marble and tourist trades.
But according to Pincione: 'No one
 is talking about closing anything. But do
you really call what has been don
e to the hillsides beautiful? It wouldn't
be allowed elsewhere in Europe.' U
nder present rules, the quarry-owners have
almost free rein over their sites
, for which they pay a token rent, under
concessions dating back to 1751.
Th
e council, which will this year make around L4.2bn (Pounds 2m) from a
specia
l tax on the amount of stone quarried, sees its role in enforcing the
enviro
nmental and safety rules which have been introduced since the 1980s
but not 
always observed. 'Theoretically, the quarries should follow precise
rules on
 how they cut into a hillside, not to change its shape without
permission. A
nd there should be regulations on cleaning up afterwards,' says
Prayer. The 
briefest visit to the region demonstrates otherwise.
The park, which advance
d one step further last month with the appointment of
a new management board
, has now become the focal point for the wider dispute
over future regulatio
n. Although not yet a threat, its creation and the
likely rise in bureaucrac
y it will entail could obstruct the quarries'
expansion, particularly as new
 stone-cutting technology has accelerated the
rate of excavation.
Meawnhile,
 the underlying issue of exerting control over an industry which
is of immen
se economic and cultural importance to the region but which may
have grown a
ccustomed to being left to itself in the past, remains
unresolved.
'Environm
ental legislation has increased steadily,' says one resident, who
has follow
ed the growing conflict closely. 'And rules now cover every part
of the busi
ness, including the sawmills, which pollute local rivers with
marble powder 
and other chemicals for treating and polishing stone.'
Behind the fighting t
alk on both sides, there is undoubtedly room for
compromise. It is almost in
conceivable that anyone on Carrara's council
would dream of closing the quar
ries, on which the town so heavily relies.
Nor are the quarry owners quite t
he shameless exploiters some of their
critics claim. But so far, their posit
ions have not met.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Pag
e 10 </PAGE>
</DOC>

============= Transaction # 147 ==============================================
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============= Transaction # 148 ==============================================
Transaction #:    148       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT921-13393</DOCNO>
<PROFILE>_AN-CAVBGAAZFT</PROFILE>
<DATE>920
122
</DATE>
<HEADLINE> FT  22 JAN 92 / Brazil launches drive to boost touris
t industry </HEADLINE>
<BYLINE>    By CHRISTINA LAMB </BYLINE>
<DATELINE>   
 RIO DE JANEIRO </DATELINE>
<TEXT>
BRAZIL is launching an aggressive marketi
ng campaign to recuperate its
flagging tourist industry.
Mr Ronaldo de Monte
 Rosa, head of Embratur, the state tourist authority,
plans to double the nu
mber of tourists and increase income from Dollars
1.4bn to Dollars 3bn (Poun
ds 1.6bn) over the next five years. 'I want to
seize the opportunity of the 
Earth Summit (to be hosted by Rio in June) to
relaunch Brazil as a tourist d
estination,' he says.
To encourage investment, credit lines have been made a
vailable by the
National Development Bank. Tourism is to be declared an indu
stry, giving
investors incentives in terms of reduced import tariffs and ene
rgy rates.
Brazil might seem to be the ideal tourist location: 4,600 miles o
f beaches,
the world's largest rainforest. But in the past five years, the n
umber of
tourists has fallen from 2m to 1.08m, as potential visitors are det
erred by
social problems caused by economic crisis.
Embratur has decided to 
fight back against the wave of bad publicity
focusing on Rio's violence by s
etting up offices overseas to inform the
world about the Indian reserves and
 Brazilian food and music. Mr Monte
Rosa's aims are to rescue Rio and show t
he world what else Brazil has to
offer, 'focusing on the north east and Amaz
onia'.
Despite Brazil's many natural advantages, this is no easy task. Mr Mo
nte
Rosa has finally persuaded Rio's state government to invest in a 'securi
ty
for tourists' programme, by showing that it has lost Dollars 400m a year 
for
the past five years in tourism revenue. But he would like to divert tour
ists
to Amazonia and the north-east, Brazil's poorest but most scenic and
cu
lturally rich area.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Pa
ge 4 </PAGE>
</DOC>

============= Transaction # 149 ==============================================
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<DOC>
<DOCNO>FT922-5263</DOCNO>
<PROFILE>_AN-CFAA4ADBFT</PROFILE>
<DATE>9206
01
</DATE>
<HEADLINE> FT  01 JUN 92 / Riverbus survives storm at Canary Whar
f </HEADLINE>
<BYLINE>    By JOHN AUTHERS </BYLINE>
<TEXT>
RIVERBUS, the Tha
mes passenger service, won a reprieve yesterday when Ernst
& Young, the admi
nistrators of Canary Wharf, said it could continue even
though it depends on
 Olympia & York, which owns the crisis-ridden building,
as its main backer.

The high-speed service, which runs between Chelsea and Greenwich, is
underpi
nned financially by O&Y and has so far made big losses. Since its
launch in 
the mid 1980s it has needed a Pounds 2.5m injection by a
consortium of five 
property developers and a government grant of Pounds
500,000.
Analysts had c
onsidered it a likely early casualty once O&Y went into
administration.
Rive
rbus is owned by a partnership of O&Y and the property division of P&O,
the 
shipping company, which is the developer of Chelsea Harbour. P&O manages
Riv
erbus via seconded managers, but has no liabilities and owns less than 6
per
 cent of the issued share capital.
P&O welcomed the administrators' decision
. It said: 'We are quite happy to
leave our manager in there to keep it runn
ing . . . It's the only form of
commuter transport on the river at the momen
t.'
Instead of marking its death knell, yesterday turned out to be one of
Ri
verbus's best days.
Business on all its craft was brisk as Londoners and tou
rists travelled in
sunshine to look at the building which the past week's we
lter of cartoons
and photographs has turned into a famous landmark.
One empl
oyee said: 'The first boat was full and we had to turn people away
in the en
d because it was so busy. We've been doing extremely well.'
It remains uncle
ar how many of Riverbus's passengers were prospective
tenants or predators, 
and how many simply wanted to see the Canary Wharf
tower.
Docklands may have
 potential as a tourist destination. The top of the tower
was opened to the 
families of potential investors for a brief period in
February and March, wh
en O&Y was attempting to raise finance via a tax
shelter scheme.
</TEXT>
<PU
B>The Financial Times </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 150 ==============================================
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<DOC>
<DOCNO>FT923-13102</DOCNO>
<PROFILE>_AN-CGOA1AENFT</PROFILE>
<DATE>920
715
</DATE>
<HEADLINE> FT  15 JUL 92 / Warning over tourist industry </HEADL
INE>
<BYLINE>    By MICHAEL SKAPINKER, Leisure Industries Correspondent </BY
LINE>
<TEXT>
POORLY paid and badly trained hotel employees, together with in
adequate
public transport, threaten the UK's position as the world's fifth m
ost
popular tourist destination, according to a study by the National Econom
ic
Development Council.
The NEDC study, published yesterday, says the UK has
 held its own in the
international tourist industry over the past 20 years. 
Its share of tourists
was 4.2 per cent of the world total in 1990, the same 
as in 1970. Its share
of world tourist spending has remained about 6 per cen
t for 20 years,
suggesting Britain has been attracting visitors who spend mo
re than the
average.
The study says, however, that this success masks worryi
ng trends. Skill
levels in UK hotels are lower than in continental Europe. B
ritish hotels
also employ more staff than their continental counterparts but
 pay them
less.
The report says both the private and public sectors should r
aise the quality
of tourist facilities. The private sector should also impro
ve training and
productivity, which would make the tourist industry more att
ractive to job
entrants.
The UK has attracted increasing numbers of visitors
 from the US and Japan,
but has been less successful in northern European ma
rkets.
The NEDC, which is due to be abolished at the end of the year, says t
hat UK
tourism should not try to compete on price. 'Comparison of the UK wit
h other
destinations shows that overall it is not particularly expensive; Lo
ndon
falls into the middle range of leading European cities.'
The report urg
es the tourist industry to create a new representative body to
stress the se
ctor's importance. Tourist spending, including domestic
tourism, accounts fo
r nearly 4 per cent of GDP and employs 1.6m people -
more than the health se
rvice.
Surveys carried out for the NEDC list British culture and heritage, t
he arts
and London as attractions mentioned most often by visitors to the UK
. Only
the US, Spain, France and Italy attract more tourists.
UK Tourism: Co
mpeting for Growth. Nedo Books, Millbank Tower, London SW1P
4QX. Pounds 11.2
0.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 10 </PAGE>
</D
OC>

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============= Transaction # 152 ==============================================
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<DOC>
<DOCNO>FT933-39</DOCNO>
<PROFILE>_AN-DI3C1AGPFT</PROFILE>
<DATE>930930

</DATE>
<HEADLINE> FT  30 SEP 93 / Survey of India (7): Beautiful waters th
at have turned to blood - Tourism and tension in the Vale of Kashmir </HEADL
INE>
<BYLINE>    By SHIRAZ SIDHVA </BYLINE>
<TEXT>
UNTIL recently, the legen
dary beauty of Kashmir in northern India attracted
tourists by the plane-loa
d, writes SHIRAZ SIDHVA.
In 1989, Indian Airlines ran 13 flights a day into 
the state. Now there is
one flight a day.
It brings only a few tourists, mos
tly back-packers of the kind who used to
come by bus from Jammu, or trekkers
 heading for the Himalayan kingdom of
Ladakh.
Most of the tourists are aware
 of the conflict in Kashmir, where the Moslem
population has long chafed aga
inst Indian rule.
But they cannot resist the famed attractions of the area i
ncluding the
gracious houseboats that can be rented for next to nothing on t
he placid
lakes near Srinagar.
'We wanted to see for ourselves whether Kashm
ir is the lost paradise the
newspapers say it is,' says Carlo, an Italian ar
chitect, during the flight
to Kashmir. 'I decided that if we didn't visit Ka
shmir now, we may never get
there. Is it really as bad as they say?'
If you 
are not put off by sporadic shooting, explosions, curfews, and the
presence 
of thousands of Kalashnikov-toting soldiers and militia-men, then
Kashmir is
 still a lovely destination for a holiday.
On all sides there is the awesome
 grandeur of the Himalayas. The people are
as friendly as ever, and room pri
ces have remained steady for three years.
But as soon as you land, you know 
you are in a war zone, where there are
daily clashes fought armed separatist
s and units of the estimated quarter of
a million armed forces.
Four years o
f death and decay are symbolised by what has happened at the Dal
Lake.
Once 
a haven for tourists all the year round, its quiet waters are now
choked wit
h weeds. In a phenomenon still unexplained by scientists, the
colour of the 
lake changed two years ago from a muddy green to red.
'The lake mirrors the 
rivers of blood that are flowing in the Valley,' says
Ahmed Jaan, a wizened 
old man who for 50 years has sailed his shikara on
these waters.
Today, his 
life is as desolate as the houseboats with their vacant
signboards.
The intr
icately carved facades of these floating homes bear quaint names,
like Queen
 of Sheba, Paris Beauty and Cherry Ripe.
But their timbers are rotting, and 
the rooms, with their chandeliers and
exquisite carpets, are musty from negl
ect.
At Mr Butt's Clairmont houseboat on the Nagin lake, the visitor's book 
tells
of good times that may never return. Beatle George Harrison has been h
ere;
so have hundreds of other celebrities from around the world.
The crowds
 that thronged the Dal Lake boulevard have been replaced by
soldiers with st
en guns, the golf course is overgrown and abandoned, and the
grand imperial 
Residence that became the Oberoi Hotel now houses officers of
the paramilita
ry forces.
Groups of women squat on the pavement outside the interrogation c
entre
waiting sometimes for hours to see their sons, brothers or fathers who
 have
been picked up, sometimes, without reason, for questioning. There have
 been
over 150 deaths in custody this year.
Stung by international complaint
s about human rights abuse earlier this
year, the government is trying to ma
ke its security forces more accountable.
But this is not easy. Most of the s
oldiers who are fighting a well armed
guerrilla enemy were trained for a con
ventional conflict rather than to face
10 year-old boys who lob hand-grenade
s before running into their mothers'
arms.
The Kashmiris have been alienated
 from the security forces after humiliating
and sometimes brutal house searc
hes.
The troops have for decades been instilled with hatred of the enemy (re
ad
Pakistan). For them, every Kashmiri in the Valley is anti-national, and
t
herefore, Pakistani.
Women and children have been killed or wounded in cross
fire between Kashmiri
militants and the armed forces.
The citizenry of Srina
gar retreat indoors long before nightfall, hoping that
the next day will daw
n without a search operation.
Only stray dogs keep the soldiers company on t
heir long night vigil.
There is no solution in sight.
'The Indian government
 has pushed us to the wall, and now, at the point of a
gun, they want us to 
swear loyalty to the nation,' says a well-to-do
Srinagar trader.
'I never th
ought that there would come a stage when I would support the
movement that s
ome people have been advocating for over 40 years.
'But with the daily dose 
of humiliation and harassment from the Indian
forces, I cannot see how we ca
n turn back on this road we have taken.'
</TEXT>
<XX>
Countries:-
</XX>
<CN>
INZ  India, Asia.
</CN>
<XX>
Industries:-
</XX>
<IN>P7999 Amusement and Recr
eation, NEC.
    P9229 Public Order and Safety, NEC.
</IN>
<XX>
Types:-
</XX
>
<TP>CMMT  Comment & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE>
 London Page V </PAGE>
</DOC>

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<DOC>
<DOCNO>FT923-11990</DOCNO>
<PROFILE>_AN-CGVAPAAPFT</PROFILE>
<DATE>920
722
</DATE>
<HEADLINE> FT  22 JUL 92 / Peru rebels call 'armed strike' </HEA
DLINE>
<BYLINE>    By SALLY BOWEN </BYLINE>
<DATELINE>    LIMA </DATELINE>
<
TEXT>
PERU'S worst wave of terrorist bombings in 12 years is likely to ensur
e
widespread support for an 'armed strike' called for today by the Sendero
L
uminoso guerrilla group, writes Sally Bowen in Lima. Messages painted on
sha
nty-town walls are warning inhabitants of Lima and key provincial cities
the
y risk death if they attempt to turn up for work.
In the past few days Sende
ro has intensified its campaign of terror in the
capital. On Monday night a 
car bomb wrecked Lima's Institute for Liberty and
Democracy, killing at leas
t four passers-by and a security guard.
The institute, headed by Mr Hernando
 de Soto, a former presidential adviser,
had earlier published far-reaching 
proposals for reform of Peru's electoral
system in advance of elections call
ed for November 22.
Last Thursday night a 600kg car-bomb devastated part of 
Miraflores, an
affluent suburb in Lima. Seventeen people died and more than 
100 suffered
severe injuries. Hundreds of homes were evacuated, and 80 shops
 and a dozen
hotels were badly damaged.
The Miraflores attack was the first 
in which Sendero has targeted the
capital's civilian population, although po
lice stations continue to be its
prime target.
Another seven bombings in dif
ferent areas of Lima the same night highlighted
the guerrillas' capacity to 
act at will - even in a city under a state of
emergency and with a night-tim
e vehicle curfew in force.
So far the military-backed government has made no
 response to demands by the
population for more effective anti-terrorist act
ion.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 6 </PAGE>
</
DOC>

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============= Transaction # 155 ==============================================
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============= Transaction # 156 ==============================================
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<DOC>
<DOCNO>FT931-887</DOCNO>
<PROFILE>_AN-DC1AGAB7FT</PROFILE>
<DATE>93032
7
</DATE>
<HEADLINE> FT  27 MAR 93 / When terror takes a toll: How internati
onal tourist destinations are affected by political violence </HEADLINE>
<BY
LINE>    By MICHAEL SKAPINKER, NIKKI TAIT and MARK NICHOLSON </BYLINE>
<TEXT
>
A year ago, the Cairo Sheraton hotel was 75 per cent full. This month, 41

per cent of its rooms are occupied. Some Cairo hotels are just over a third

full. One five-star hotel is charging only Dollars 28 a room.
The Gama'a al-
Islamiyya, the Islamic militant group which is seeking to
destabilise the Eg
yptian government, has deliberately targeted the country's
tourist industry.
 Late last year, gunmen shot at tour buses in Upper Egypt,
killing one Briti
sh visitor. Earlier this year, two visitors were killed
when a bomb exploded
 in a cafe in Cairo's Tahrir Square.
Mr Fouad Sultan, the tourism minister, 
says earnings are down by a fifth on
last year. Many in the industry conside
r that an underestimate. The tourist
ministry has hired Burson-Marsteller, t
he world's biggest public relations
company, and Saatchi & Saatchi to help i
mprove the country's image.
While terrorism and the murder of foreign visito
rs can substantially damage
a nation's tourism, the effect differs widely fr
om country to country. As
Egypt agonises over how to salvage its fastest gro
wing industry and biggest
foreign currency earner, the tourist businesses of
 other countries have been
largely unaffected by terrorist and criminal viol
ence.
Third world destinations appear to suffer more than developed countrie
s from
attacks on tourists. Kenyan tourism was badly hit last year as a resu
lt of
publicity surrounding the trial of two game rangers accused of the mur
der of
British tourist Julie Ward in 1988, and by reports of other attacks o
n
tourists.
By contrast, the murder of a British visitor in Florida last yea
r had little
effect on the state's tourism. Thomson, the UK's biggest travel
 group, said
that while the depreciation of the pound against the dollar had
 deterred
some British travellers, reports of violence had little effect.
Si
milarly, Egyptian tourism has been much more severely affected by
terrorist 
incidents than the industries in the UK or the US. Despite years
of widely-r
eported deaths and injuries from IRA bombs, the British tourist
industry has
 suffered little long-term damage. Mr Alan Jefferson, the
British Tourist Au
thority's international marketing director, says his
offices abroad usually 
receive no more than a handful of calls after IRA
attacks. One New York trav
el agent said that, while some US tourists about
to leave for the UK had ask
ed about recent IRA bombs, they had decided to go
ahead with their trips.
Th
e UK tourist industry has been more severely affected by events elsewhere.
T
he US bombing of Libya in 1986 contributed to a 4 per cent fall in visitors

to 13.9m, as Americans, fearing terrorist reprisals, stayed at home. The
Gul
f War resulted in tourists to the UK falling to 16.7m in 1991, from 18m
the 
year before.
In the US, the bombing of New York's World Trade Centre last mo
nth produced
'no significant cancellations', according to the city's Convent
ion and
Visitors Bureau. Airlines servicing the New York area also say that 
there
has been very little impact on passenger traffic.
The National Parks S
ervice reports that the number of visitors to New York
attractions such as t
he Statue of Liberty and Ellis Island ran at about
3,500-4,000 daily during 
February, a typical number for the month.
While tourist destinations such as
 Egypt and Kenya might feel they are the
victims of double standards, travel
 industry executives say they suffer from
a perception that they are societi
es under siege. The futures of the US and
British governments are not percei
ved as being threatened by violent crime
or terrorism.
Although the IRA has 
bombed areas frequented by tourists, foreign visitors
to the UK have not bee
n specific targets as they have in Egypt. Mr Peter
Kerkar, chief executive o
f Cox & Kings Travel, a London-based company,
argues that American visitors 
to the UK are behaving quite logically in
ignoring IRA attacks but staying a
t home during the Gulf War and in the wake
of the bombing of Libya. 'The IRA
 is not singling out Americans. If they're
involved in an IRA incident, it's
 because of bad luck. In the case of Libya,
Americans were a target.'
One Br
itish travel industry manager points out that Florida, while plagued
by viol
ent crime, offers tourists a sense of safety, however illusory, that
countri
es such as Kenya and Egypt do not. 'America is familiar territory,
where eve
ryone speaks the same language and where half the TV programmes are
the ones
 you see at home.'
Mr Martin Brackenbury, president of the International Fed
eration of Tour
Operators, says there are a few general principles which cou
ntries can apply
when attempting to limit the damage caused to tourism by vi
olence. 'The
first is: never attempt to cover up. Clearly admit a problem if
 there is
one. The second is to put in place measures which can clearly be s
een to be
effective,' he says.
He says Kenya has responded constructively to
 Ifto recommendations. The
Kenyan government has begun aerial surveillance o
f game parks and has issued
advice about which areas of Nairobi are consider
ed dangerous.
Mr Martin Thompson, managing director of the London-based tour
 operator
Abercrombie & Kent, says his business to Kenya fell to 30,000 trav
ellers
last year from 34,000 in 1991 as a result of press coverage of violen
ce in
the country. However, he expects business to return to 1991 levels thi
s
year.
The Egyptian authorities, after initially criticising the western me
dia for
what it described as a biased, exaggerated campaign, is now taking a
ctive
steps to restore the country's image. It has supplied more tourist pol
ice,
troops and helicopters to protect visitors at sites in Upper Egypt.
Bot
h the government and the country's tourism industry are now hoping that
this
 iron-fisted policy will stem the terrorist attacks. Mr Taher el-Sharif,
cha
irman of the Egyptian Businessman's Association says: 'The problem is we
jus
t don't know when this will stop - unlike the Gulf War, when we knew
there w
ould eventually be an end.'
Mr Brackenbury says that once a destination is p
erceived as being safer,
recovery for the tourist industry can be swift. 'Pe
ople's memories are
short,' he says.
Reporting by Michael Skapinker, Nikki T
ait and Mark Nicholson
</TEXT>
<XX>
Countries:-
</XX>
<CN>XAZ  World.
</CN>

<XX>
Industries:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
</IN>
<XX>

Types:-
</XX>
<TP>IND  Industry profile.
    MKTS  Shipments.
    GOVT  Lega
l issues.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 9 </PAGE>

</DOC>

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============= Transaction # 159 ==============================================
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<PROFILE>_AN-CDVA7ADAFT</PROFILE>
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422
</DATE>
<HEADLINE> FT  22 APR 92 / Russia leads world in road death figu
res </HEADLINE>
<BYLINE>    By REUTER </BYLINE>
<DATELINE>    MOSCOW </DATEL
INE>
<TEXT>
RUSSIA, a late starter in the age of the car, has roared to a le
ading place
in the world's statistics for road deaths, Reuters reports from 
Moscow.
Authorities said yesterday that Russia's traffic carnage matches its
 size as
the world's biggest country.
Sixteen out of every 100 people injure
d in car crashes die, Mr Vladimir
Fyodorov, head of the Interior Ministry Tr
affic Police Department, told a
news conference.
The figure is several times
 higher than the 2 to 7 per cent average for the
rest of the world.
But Mr F
yodorov said a lower proportion of Russians were injured in
non-fatal car ac
cidents.
'Accident reports in the west usually show large numbers of crashes
 with
very few people killed. With us, it's the other way round,' he said. '
We are
falling far behind the civilised world in traffic security.'
Traffic 
police analysis shows that 0.14 per cent of the Russian population
were inju
red in car crashes last year. Comparative figures for west European
countrie
s show a higher 0.5 per cent. But 0.025 per cent of Russians are
killed in t
he accidents, compared with only 0.016 in western Europe.
Mr Fyodorov blamed
 the extremely high death rate on poor road conditions, an
inadequate ambula
nce service and lack of modern communications.
'We sometimes get news of a t
raffic accident from passing drivers hours
after it happened,' he said.
</TE
XT>
<PUB>The Financial Times </PUB>
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A French judge issued arrest warrants against four Pal
estinian gunmen from
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<DOC>
<DOCNO>FT923-3223</DOCNO>
<PROFILE>_AN-CINBUADLFT</PROFILE>
<DATE>9209
14
</DATE>
<HEADLINE> FT  14 SEP 92 / Survey on Mauritius (12): Expanding to
urism presents dilemmas - Paradise has problems </HEADLINE>
<BYLINE>    By J
ULIAN OZANNE </BYLINE>
<TEXT>
GOLDEN sunlight dances off the clear turquoise
 water of the Indian ocean. A
gentle breeze, blowing across the lagoon, rust
les the deep green leaves of
palm trees fringing white sandy beaches. Half a
 mile out to sea, the surf
breaks gently over the coral reef.
There are few 
'sea, sun and sand' tourist destinations in the world which
come as close to
 paradise as Mauritius, with its excellent facilities for
deep sea diving, b
ig game fishing, water skiing, wind surfing, riding and
sailing.
But the tou
rism sector is struggling to come to terms with a rocketing
expansion of the
 industry. This has created serious environmental and
economic problems and 
left government confused about the policy direction it
should follow for the
 next five years.
Industry experts say a comprehensive government five-year 
tourism
development policy is eagerly awaited. They look to this to give cle
ar
directions about critical policy issues such as tourist arrivals, hotel
d
evelopment, international marketing strategies, environmental impact
assessm
ents, and plans to develop a more diversified and high quality
product.
The 
tourism boom in Mauritius has been impressive. Tourist arrivals have
doubled
 in six years: 148,900 in 1985 to 298,500 last year. Earnings have
risen fro
m MR845m to M3.9bn over the same period, making tourism the third
biggest fo
reign exchange winner. Particularly good results have been
achieved in boost
ing the average spending per tourist, which increased from
MR5,676 in 1985 t
o M13,000 in 1991.
After a disappointing year in 1991, during which tourist 
arrivals increased
only by 2.4 per cent over the previous year ( mainly beca
use of world
recession and the Gulf War), Mr Noel Lee Cheong Lem, minister o
f tourism,
says arrivals look likely to return to a growth rate of about 10 
per cent
this year.
This pattern of growth has had its costs. The number of 
hotels in the past
six years has increased from 55 to 80, with an increase i
n the number of
beds from 5,387 to 10,482. Bed occupancy rates fell to a rec
ord low of only
47 per cent last year, as the increase in tourists has not k
ept pace with
the increase in beds.
Between 1985-1988, according to Mr Lem, 
a number of hotel development
certificates were distributed as 'political fa
vours' - without either
adequate planning about how the new hotels were goin
g to be filled, or
consideration of the environmental impact of this expansi
on. With low
occupancy rates the new hotels are struggling to make profits, 
despite
attempts to buy market share by cutting rates.
Furthermore, the unre
gulated growth in the number of hotels has had a
detrimental impact on the e
nvironment. Dumping of untreated sewage into the
seas and lagoons, particula
rly severe in the Grand Baie area, has had a
damaging impact on the marine e
cosystem.
A moratorium on 20 new hotel projects expired last year, but Mr Le
m says 16
of these projects have subsequently been shelved, and the governme
nt is
trying to persuade the other four not to go ahead. 'We are applying th
e
brakes on the further expansion of the tourist sector and at the same time

trying to widen the market to allow hotels to achieve the rate of occupancy

which is viable and profitable.'
All new hotel developments will now also b
e subject to an environmental
impact assessment under the new Ministry of th
e Environment.
If hotel development is slowed, and the growth in arrivals co
ntinues to
boom, Mauritius's capacity problem and the economic viability of 
hotels is
likely to ease considerably within the next three to four years. T
he
government has now abandoned an arbitrary limit of 400,000 arrivals by th
e
year 2000, and Mr Lem says Mauritius is a long way from the threshold of
t
olerance of tourist arrivals, and that the ratio of tourist arrivals to
popu
lation is still so low that at least 500,000 arrivals by the end of the
cent
ury is acceptable and possible.
Two important challenges face the government
 in seeking to increase
arrivals: developing new markets, and developing the
 infrastructure for the
'second phase' of development.
Government is pinning
 its hopes on development of the Japanese and Indian
markets, and consolidat
ion of the French, British, German and South African
markets. A once-a-week 
flight from Osaka to Mauritius is expected to start
by 1994. But hoteliers a
nd tour operators say the Government Tourist Office
is weak and ineffective,
 and must develop a much more aggressive marketing
campaign. They say the MR
65m allocated to promotion in this year's budget is
not enough.
The governme
nt will continue to ban charter flights, camping and caravan
sites, to disco
urage 'low budget' tourists and maintain Mauritius's image as
an upmarket de
stination for 'low volume high income'. The question remains
whether the suf
ficient growth in numbers can come from the high income
market alone.
Moreov
er, many 'low budget' tourists, especially from France, continue to
find the
ir way to Mauritius by taking charters to Reunion and then making
the short 
(50 minutes) flight to Mauritius. Some hoteliers and tour
operators believe 
it would be better to accept that low budget tourists are
going to come, cat
er properly for them, and get the maximum revenue out of
them.
They also say
 that Mauritius remains an extremely expensive destination,
even for the hig
h-income bracket tourist, and that only by considerably
improving the qualit
y of the product and service will the industry be able
to continue to attrac
t increased volume in the face of competition from
Kenya, Seychelles, Indone
sia, Maldives and Thailand.
Development of infrastructure and added faciliti
es will be critical to
further growth - as will maximising revenue by attrac
ting tourists off the
beaches to spend more money on other activities. The d
evelopment of the
National Handicraft Centre, and of inland facilities such 
as the 'Domain du
Chasseur,' a deer hunting and nature park, is being welcom
ed by the private
sector.
After a period of rapid growth the government is n
ow facing crucial
decisions on how to consolidate and expand its thriving to
urist sector to
ensure that continued growth will be sustainable.
 ---------
-----------------------------------------------------------
                
            TOURISM
 -------------------------------------------------------
-------------
                       1986      1988      1990      1991     
 1992*
 --------------------------------------------------------------------

Arrivals (000s)        165.3     239.3     291.6     300.7     330
Gross ea
rnings (MRs)   1.19bn    2.37bn    3.63bn    3.88bn    4.40bn
Bed occupancy 
(%)      61.4      74.1      68.4      60.0      62.0
Hotels                
 56        64        75        80        80
Employment             5,955    
 7,005     9,670     10,388    12,000
*Predictions.
 -----------------------
---------------------------------------------
Source: Ministry of Tourism, M
auritius Government Tourist Office
 ----------------------------------------
----------------------------
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> 
London Page VI </PAGE>
</DOC>

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<DOC>
<DOCNO>FT923-3223</DOCNO>
<PROFILE>_AN-CINBUADLFT</PROFILE>
<DATE>9209
14
</DATE>
<HEADLINE> FT  14 SEP 92 / Survey on Mauritius (12): Expanding to
urism presents dilemmas - Paradise has problems </HEADLINE>
<BYLINE>    By J
ULIAN OZANNE </BYLINE>
<TEXT>
GOLDEN sunlight dances off the clear turquoise
 water of the Indian ocean. A
gentle breeze, blowing across the lagoon, rust
les the deep green leaves of
palm trees fringing white sandy beaches. Half a
 mile out to sea, the surf
breaks gently over the coral reef.
There are few 
'sea, sun and sand' tourist destinations in the world which
come as close to
 paradise as Mauritius, with its excellent facilities for
deep sea diving, b
ig game fishing, water skiing, wind surfing, riding and
sailing.
But the tou
rism sector is struggling to come to terms with a rocketing
expansion of the
 industry. This has created serious environmental and
economic problems and 
left government confused about the policy direction it
should follow for the
 next five years.
Industry experts say a comprehensive government five-year 
tourism
development policy is eagerly awaited. They look to this to give cle
ar
directions about critical policy issues such as tourist arrivals, hotel
d
evelopment, international marketing strategies, environmental impact
assessm
ents, and plans to develop a more diversified and high quality
product.
The 
tourism boom in Mauritius has been impressive. Tourist arrivals have
doubled
 in six years: 148,900 in 1985 to 298,500 last year. Earnings have
risen fro
m MR845m to M3.9bn over the same period, making tourism the third
biggest fo
reign exchange winner. Particularly good results have been
achieved in boost
ing the average spending per tourist, which increased from
MR5,676 in 1985 t
o M13,000 in 1991.
After a disappointing year in 1991, during which tourist 
arrivals increased
only by 2.4 per cent over the previous year ( mainly beca
use of world
recession and the Gulf War), Mr Noel Lee Cheong Lem, minister o
f tourism,
says arrivals look likely to return to a growth rate of about 10 
per cent
this year.
This pattern of growth has had its costs. The number of 
hotels in the past
six years has increased from 55 to 80, with an increase i
n the number of
beds from 5,387 to 10,482. Bed occupancy rates fell to a rec
ord low of only
47 per cent last year, as the increase in tourists has not k
ept pace with
the increase in beds.
Between 1985-1988, according to Mr Lem, 
a number of hotel development
certificates were distributed as 'political fa
vours' - without either
adequate planning about how the new hotels were goin
g to be filled, or
consideration of the environmental impact of this expansi
on. With low
occupancy rates the new hotels are struggling to make profits, 
despite
attempts to buy market share by cutting rates.
Furthermore, the unre
gulated growth in the number of hotels has had a
detrimental impact on the e
nvironment. Dumping of untreated sewage into the
seas and lagoons, particula
rly severe in the Grand Baie area, has had a
damaging impact on the marine e
cosystem.
A moratorium on 20 new hotel projects expired last year, but Mr Le
m says 16
of these projects have subsequently been shelved, and the governme
nt is
trying to persuade the other four not to go ahead. 'We are applying th
e
brakes on the further expansion of the tourist sector and at the same time

trying to widen the market to allow hotels to achieve the rate of occupancy

which is viable and profitable.'
All new hotel developments will now also b
e subject to an environmental
impact assessment under the new Ministry of th
e Environment.
If hotel development is slowed, and the growth in arrivals co
ntinues to
boom, Mauritius's capacity problem and the economic viability of 
hotels is
likely to ease considerably within the next three to four years. T
he
government has now abandoned an arbitrary limit of 400,000 arrivals by th
e
year 2000, and Mr Lem says Mauritius is a long way from the threshold of
t
olerance of tourist arrivals, and that the ratio of tourist arrivals to
popu
lation is still so low that at least 500,000 arrivals by the end of the
cent
ury is acceptable and possible.
Two important challenges face the government
 in seeking to increase
arrivals: developing new markets, and developing the
 infrastructure for the
'second phase' of development.
Government is pinning
 its hopes on development of the Japanese and Indian
markets, and consolidat
ion of the French, British, German and South African
markets. A once-a-week 
flight from Osaka to Mauritius is expected to start
by 1994. But hoteliers a
nd tour operators say the Government Tourist Office
is weak and ineffective,
 and must develop a much more aggressive marketing
campaign. They say the MR
65m allocated to promotion in this year's budget is
not enough.
The governme
nt will continue to ban charter flights, camping and caravan
sites, to disco
urage 'low budget' tourists and maintain Mauritius's image as
an upmarket de
stination for 'low volume high income'. The question remains
whether the suf
ficient growth in numbers can come from the high income
market alone.
Moreov
er, many 'low budget' tourists, especially from France, continue to
find the
ir way to Mauritius by taking charters to Reunion and then making
the short 
(50 minutes) flight to Mauritius. Some hoteliers and tour
operators believe 
it would be better to accept that low budget tourists are
going to come, cat
er properly for them, and get the maximum revenue out of
them.
They also say
 that Mauritius remains an extremely expensive destination,
even for the hig
h-income bracket tourist, and that only by considerably
improving the qualit
y of the product and service will the industry be able
to continue to attrac
t increased volume in the face of competition from
Kenya, Seychelles, Indone
sia, Maldives and Thailand.
Development of infrastructure and added faciliti
es will be critical to
further growth - as will maximising revenue by attrac
ting tourists off the
beaches to spend more money on other activities. The d
evelopment of the
National Handicraft Centre, and of inland facilities such 
as the 'Domain du
Chasseur,' a deer hunting and nature park, is being welcom
ed by the private
sector.
After a period of rapid growth the government is n
ow facing crucial
decisions on how to consolidate and expand its thriving to
urist sector to
ensure that continued growth will be sustainable.
 ---------
-----------------------------------------------------------
                
            TOURISM
 -------------------------------------------------------
-------------
                       1986      1988      1990      1991     
 1992*
 --------------------------------------------------------------------

Arrivals (000s)        165.3     239.3     291.6     300.7     330
Gross ea
rnings (MRs)   1.19bn    2.37bn    3.63bn    3.88bn    4.40bn
Bed occupancy 
(%)      61.4      74.1      68.4      60.0      62.0
Hotels                
 56        64        75        80        80
Employment             5,955    
 7,005     9,670     10,388    12,000
*Predictions.
 -----------------------
---------------------------------------------
Source: Ministry of Tourism, M
auritius Government Tourist Office
 ----------------------------------------
----------------------------
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> 
London Page VI </PAGE>
</DOC>

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<DOC>
<DOCNO>FT923-3223</DOCNO>
<PROFILE>_AN-CINBUADLFT</PROFILE>
<DATE>9209
14
</DATE>
<HEADLINE> FT  14 SEP 92 / Survey on Mauritius (12): Expanding to
urism presents dilemmas - Paradise has problems </HEADLINE>
<BYLINE>    By J
ULIAN OZANNE </BYLINE>
<TEXT>
GOLDEN sunlight dances off the clear turquoise
 water of the Indian ocean. A
gentle breeze, blowing across the lagoon, rust
les the deep green leaves of
palm trees fringing white sandy beaches. Half a
 mile out to sea, the surf
breaks gently over the coral reef.
There are few 
'sea, sun and sand' tourist destinations in the world which
come as close to
 paradise as Mauritius, with its excellent facilities for
deep sea diving, b
ig game fishing, water skiing, wind surfing, riding and
sailing.
But the tou
rism sector is struggling to come to terms with a rocketing
expansion of the
 industry. This has created serious environmental and
economic problems and 
left government confused about the policy direction it
should follow for the
 next five years.
Industry experts say a comprehensive government five-year 
tourism
development policy is eagerly awaited. They look to this to give cle
ar
directions about critical policy issues such as tourist arrivals, hotel
d
evelopment, international marketing strategies, environmental impact
assessm
ents, and plans to develop a more diversified and high quality
product.
The 
tourism boom in Mauritius has been impressive. Tourist arrivals have
doubled
 in six years: 148,900 in 1985 to 298,500 last year. Earnings have
risen fro
m MR845m to M3.9bn over the same period, making tourism the third
biggest fo
reign exchange winner. Particularly good results have been
achieved in boost
ing the average spending per tourist, which increased from
MR5,676 in 1985 t
o M13,000 in 1991.
After a disappointing year in 1991, during which tourist 
arrivals increased
only by 2.4 per cent over the previous year ( mainly beca
use of world
recession and the Gulf War), Mr Noel Lee Cheong Lem, minister o
f tourism,
says arrivals look likely to return to a growth rate of about 10 
per cent
this year.
This pattern of growth has had its costs. The number of 
hotels in the past
six years has increased from 55 to 80, with an increase i
n the number of
beds from 5,387 to 10,482. Bed occupancy rates fell to a rec
ord low of only
47 per cent last year, as the increase in tourists has not k
ept pace with
the increase in beds.
Between 1985-1988, according to Mr Lem, 
a number of hotel development
certificates were distributed as 'political fa
vours' - without either
adequate planning about how the new hotels were goin
g to be filled, or
consideration of the environmental impact of this expansi
on. With low
occupancy rates the new hotels are struggling to make profits, 
despite
attempts to buy market share by cutting rates.
Furthermore, the unre
gulated growth in the number of hotels has had a
detrimental impact on the e
nvironment. Dumping of untreated sewage into the
seas and lagoons, particula
rly severe in the Grand Baie area, has had a
damaging impact on the marine e
cosystem.
A moratorium on 20 new hotel projects expired last year, but Mr Le
m says 16
of these projects have subsequently been shelved, and the governme
nt is
trying to persuade the other four not to go ahead. 'We are applying th
e
brakes on the further expansion of the tourist sector and at the same time

trying to widen the market to allow hotels to achieve the rate of occupancy

which is viable and profitable.'
All new hotel developments will now also b
e subject to an environmental
impact assessment under the new Ministry of th
e Environment.
If hotel development is slowed, and the growth in arrivals co
ntinues to
boom, Mauritius's capacity problem and the economic viability of 
hotels is
likely to ease considerably within the next three to four years. T
he
government has now abandoned an arbitrary limit of 400,000 arrivals by th
e
year 2000, and Mr Lem says Mauritius is a long way from the threshold of
t
olerance of tourist arrivals, and that the ratio of tourist arrivals to
popu
lation is still so low that at least 500,000 arrivals by the end of the
cent
ury is acceptable and possible.
Two important challenges face the government
 in seeking to increase
arrivals: developing new markets, and developing the
 infrastructure for the
'second phase' of development.
Government is pinning
 its hopes on development of the Japanese and Indian
markets, and consolidat
ion of the French, British, German and South African
markets. A once-a-week 
flight from Osaka to Mauritius is expected to start
by 1994. But hoteliers a
nd tour operators say the Government Tourist Office
is weak and ineffective,
 and must develop a much more aggressive marketing
campaign. They say the MR
65m allocated to promotion in this year's budget is
not enough.
The governme
nt will continue to ban charter flights, camping and caravan
sites, to disco
urage 'low budget' tourists and maintain Mauritius's image as
an upmarket de
stination for 'low volume high income'. The question remains
whether the suf
ficient growth in numbers can come from the high income
market alone.
Moreov
er, many 'low budget' tourists, especially from France, continue to
find the
ir way to Mauritius by taking charters to Reunion and then making
the short 
(50 minutes) flight to Mauritius. Some hoteliers and tour
operators believe 
it would be better to accept that low budget tourists are
going to come, cat
er properly for them, and get the maximum revenue out of
them.
They also say
 that Mauritius remains an extremely expensive destination,
even for the hig
h-income bracket tourist, and that only by considerably
improving the qualit
y of the product and service will the industry be able
to continue to attrac
t increased volume in the face of competition from
Kenya, Seychelles, Indone
sia, Maldives and Thailand.
Development of infrastructure and added faciliti
es will be critical to
further growth - as will maximising revenue by attrac
ting tourists off the
beaches to spend more money on other activities. The d
evelopment of the
National Handicraft Centre, and of inland facilities such 
as the 'Domain du
Chasseur,' a deer hunting and nature park, is being welcom
ed by the private
sector.
After a period of rapid growth the government is n
ow facing crucial
decisions on how to consolidate and expand its thriving to
urist sector to
ensure that continued growth will be sustainable.
 ---------
-----------------------------------------------------------
                
            TOURISM
 -------------------------------------------------------
-------------
                       1986      1988      1990      1991     
 1992*
 --------------------------------------------------------------------

Arrivals (000s)        165.3     239.3     291.6     300.7     330
Gross ea
rnings (MRs)   1.19bn    2.37bn    3.63bn    3.88bn    4.40bn
Bed occupancy 
(%)      61.4      74.1      68.4      60.0      62.0
Hotels                
 56        64        75        80        80
Employment             5,955    
 7,005     9,670     10,388    12,000
*Predictions.
 -----------------------
---------------------------------------------
Source: Ministry of Tourism, M
auritius Government Tourist Office
 ----------------------------------------
----------------------------
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> 
London Page VI </PAGE>
</DOC>

============= Transaction # 171 ==============================================
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<DOC>
<DOCNO>FT924-9868</DOCNO>
<PROFILE>_AN-CKCCTAGQFT</PROFILE>
<DATE>9211
03
</DATE>
<HEADLINE> FT  03 NOV 92 / Survey of Portugal (9): Quality, not q
uantity - A shift in strategy in the tourism sector </HEADLINE>
<BYLINE>    
By PETER WISE </BYLINE>
<TEXT>
HOLIDAYS spent amid the dust and noise of bui
lding sites cause the biggest
number of complaints from British tourists who
 visit Portugal's southern
Algarve coast, according to a recent survey for t
he Department of Tourism.
These visitors are victims of constructors who hav
e been trying to keep pace
with a boom in tourism that has transformed the c
ountry's main holiday
region in the past decade. Tourism has been growing at
 a rate of 11.5 per
cent a year since 1980 and high-rise hotels and apartmen
t blocks have
mushroomed at a similar speed. European tourism as whole has g
rown at a rate
of only 3.5 per cent a year over that period.
Recent statisti
cs reflect the dramatic expansion of tourism. This year
Portugal expects to 
welcome 20m visitors, double the population, and almost
10m tourists (visito
rs who stay one night or more). This compares with 7m
visitors and 2.7m tour
ists in 1980.
As a result, the importance of tourism to the Portuguese econo
my has greatly
increased. Today, it accounts for 6 to 8 per cent of the gros
s domestic
product, a contribution to national wealth that equals that of te
xtiles,
civil construction or the financial sector.
Foreign currency receipt
s have grown from Es57.5bn (Pounds 263m) in 1980 to
Es530bn in 1991. These e
arnings cover half of Portugal's trade deficit,
making an important contribu
tion to the current account balance.
To ease the strain of this boom on the 
Algarve, where some areas are
becoming overcrowded, disorganised and ugly, t
he government has devised a
new strategy for the tourism sector. It switches
 the emphasis from new
building to diversification and expanding the use of 
existing facilities.
According to Mr Alexandre Relvas, secretary of state fo
r tourism, 'our
resources have their limits and sooner or later we will reac
h saturation
point'.
Instead, tourism policy will switch from a heavy depend
ence on sun and sea
holidays and an over-strong reliance on the UK and Spain
, to more emphasis
on investing to improve facilities rather than build new 
ones.
To this end, the Department of Tourism has drawn up a 19-point plan wi
th the
overall aim of improving the competitiveness of Portuguese tourism. T
he
strategy will be backed up with an Es50bn (Pounds 230m) two-year financia
l
programme to support investment.
'To be competitive in the 1990s, tourism 
has to invest heavily in quality
rather than quantity,' says Mr Relvas. 'Thi
s financial programme will help
us create a competitive tourism industry in 
the future.'
A total of Es20bn from the new fund will be provided as grants 
for
investment, 60 per cent financed by European Community structural funds.

Grants will cover up to 25 per cent of the total cost of investment. But
un
like the past, very little will be made available for building new hotels.
I
nstead, the money will go to modernise and re-equip existing units, for the

construction of additional facilities such as golf courses and congress
cent
res and to diversify from beach holidays into sports and cultural
tourism.
A
 further Es30bn will be made available by the Tourism Fund, a special
credit
 institution, and banks at low interest rates.
Portugal's new tourism strate
gy is also aimed at combating a worrying trend.
While the number of tourists
 has increased spectacularly, the amount they
spend is falling. In 1980 aver
age spending per tourist was 35 per cent above
the European average in dolla
r terms. Today, it is 15 per cent below.
Tourists currently spend a mere Es9
,000 a day on hotels and restaurants.
Tourism authorities have mapped out tw
o main strategies for changing this.
Beach holidays have become a mature mar
ket, where growth is falling off
rapidly. Tough competition between major op
erators and the globalisation of
the market through airline liberalisation i
s forcing down prices.
Portugal is trying to diversify away from this sector
 into congresses,
cultural tourism and golf and other sporting holidays. 'Th
is development
will offer the twin advantages of attracting higher-spending 
tourists and
being able to use existing Algarve facilities in the off-season
,' says Mr
Relvas.
Officials also want to attract tourists away from the Alg
arve, which
accounts for 40 per cent of total bed nights, to other areas, su
ch as the
Lisbon coastline and the unspoiled Alentejo region north of the Al
garve.
Though Portugal will maintain promotional efforts in Britain and Spai
n,
which together account for half its bed nights, efforts will also be made
 to
boost the Italian, French and German markets and to break into the US an
d
Japan. Regular flights from Japan, scheduled to begin in 1994, should help

increase the number of its tourists from the current level of 30,000 a year
.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page V </PAGE>
</DOC
>

============= Transaction # 172 ==============================================
Transaction #:    172       Transaction Code:  19 (Record Selected)        

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<DOCNO>FT924-9868</DOCNO>
<PROFILE>_AN-CKCCTAGQFT</PROFILE>
<DATE>9211
03
</DATE>
<HEADLINE> FT  03 NOV 92 / Survey of Portugal (9): Quality, not q
uantity - A shift in strategy in the tourism sector </HEADLINE>
<BYLINE>    
By PETER WISE </BYLINE>
<TEXT>
HOLIDAYS spent amid the dust and noise of bui
lding sites cause the biggest
number of complaints from British tourists who
 visit Portugal's southern
Algarve coast, according to a recent survey for t
he Department of Tourism.
These visitors are victims of constructors who hav
e been trying to keep pace
with a boom in tourism that has transformed the c
ountry's main holiday
region in the past decade. Tourism has been growing at
 a rate of 11.5 per
cent a year since 1980 and high-rise hotels and apartmen
t blocks have
mushroomed at a similar speed. European tourism as whole has g
rown at a rate
of only 3.5 per cent a year over that period.
Recent statisti
cs reflect the dramatic expansion of tourism. This year
Portugal expects to 
welcome 20m visitors, double the population, and almost
10m tourists (visito
rs who stay one night or more). This compares with 7m
visitors and 2.7m tour
ists in 1980.
As a result, the importance of tourism to the Portuguese econo
my has greatly
increased. Today, it accounts for 6 to 8 per cent of the gros
s domestic
product, a contribution to national wealth that equals that of te
xtiles,
civil construction or the financial sector.
Foreign currency receipt
s have grown from Es57.5bn (Pounds 263m) in 1980 to
Es530bn in 1991. These e
arnings cover half of Portugal's trade deficit,
making an important contribu
tion to the current account balance.
To ease the strain of this boom on the 
Algarve, where some areas are
becoming overcrowded, disorganised and ugly, t
he government has devised a
new strategy for the tourism sector. It switches
 the emphasis from new
building to diversification and expanding the use of 
existing facilities.
According to Mr Alexandre Relvas, secretary of state fo
r tourism, 'our
resources have their limits and sooner or later we will reac
h saturation
point'.
Instead, tourism policy will switch from a heavy depend
ence on sun and sea
holidays and an over-strong reliance on the UK and Spain
, to more emphasis
on investing to improve facilities rather than build new 
ones.
To this end, the Department of Tourism has drawn up a 19-point plan wi
th the
overall aim of improving the competitiveness of Portuguese tourism. T
he
strategy will be backed up with an Es50bn (Pounds 230m) two-year financia
l
programme to support investment.
'To be competitive in the 1990s, tourism 
has to invest heavily in quality
rather than quantity,' says Mr Relvas. 'Thi
s financial programme will help
us create a competitive tourism industry in 
the future.'
A total of Es20bn from the new fund will be provided as grants 
for
investment, 60 per cent financed by European Community structural funds.

Grants will cover up to 25 per cent of the total cost of investment. But
un
like the past, very little will be made available for building new hotels.
I
nstead, the money will go to modernise and re-equip existing units, for the

construction of additional facilities such as golf courses and congress
cent
res and to diversify from beach holidays into sports and cultural
tourism.
A
 further Es30bn will be made available by the Tourism Fund, a special
credit
 institution, and banks at low interest rates.
Portugal's new tourism strate
gy is also aimed at combating a worrying trend.
While the number of tourists
 has increased spectacularly, the amount they
spend is falling. In 1980 aver
age spending per tourist was 35 per cent above
the European average in dolla
r terms. Today, it is 15 per cent below.
Tourists currently spend a mere Es9
,000 a day on hotels and restaurants.
Tourism authorities have mapped out tw
o main strategies for changing this.
Beach holidays have become a mature mar
ket, where growth is falling off
rapidly. Tough competition between major op
erators and the globalisation of
the market through airline liberalisation i
s forcing down prices.
Portugal is trying to diversify away from this sector
 into congresses,
cultural tourism and golf and other sporting holidays. 'Th
is development
will offer the twin advantages of attracting higher-spending 
tourists and
being able to use existing Algarve facilities in the off-season
,' says Mr
Relvas.
Officials also want to attract tourists away from the Alg
arve, which
accounts for 40 per cent of total bed nights, to other areas, su
ch as the
Lisbon coastline and the unspoiled Alentejo region north of the Al
garve.
Though Portugal will maintain promotional efforts in Britain and Spai
n,
which together account for half its bed nights, efforts will also be made
 to
boost the Italian, French and German markets and to break into the US an
d
Japan. Regular flights from Japan, scheduled to begin in 1994, should help

increase the number of its tourists from the current level of 30,000 a year
.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page V </PAGE>
</DOC
>

============= Transaction # 173 ==============================================
Transaction #:    173       Transaction Code:  22 (Record(s) Saved)        

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<DOC>
<DOCNO>FT924-9868</DOCNO>
<PROFILE>_AN-CKCCTAGQFT</PROFILE>
<DATE>9211
03
</DATE>
<HEADLINE> FT  03 NOV 92 / Survey of Portugal (9): Quality, not q
uantity - A shift in strategy in the tourism sector </HEADLINE>
<BYLINE>    
By PETER WISE </BYLINE>
<TEXT>
HOLIDAYS spent amid the dust and noise of bui
lding sites cause the biggest
number of complaints from British tourists who
 visit Portugal's southern
Algarve coast, according to a recent survey for t
he Department of Tourism.
These visitors are victims of constructors who hav
e been trying to keep pace
with a boom in tourism that has transformed the c
ountry's main holiday
region in the past decade. Tourism has been growing at
 a rate of 11.5 per
cent a year since 1980 and high-rise hotels and apartmen
t blocks have
mushroomed at a similar speed. European tourism as whole has g
rown at a rate
of only 3.5 per cent a year over that period.
Recent statisti
cs reflect the dramatic expansion of tourism. This year
Portugal expects to 
welcome 20m visitors, double the population, and almost
10m tourists (visito
rs who stay one night or more). This compares with 7m
visitors and 2.7m tour
ists in 1980.
As a result, the importance of tourism to the Portuguese econo
my has greatly
increased. Today, it accounts for 6 to 8 per cent of the gros
s domestic
product, a contribution to national wealth that equals that of te
xtiles,
civil construction or the financial sector.
Foreign currency receipt
s have grown from Es57.5bn (Pounds 263m) in 1980 to
Es530bn in 1991. These e
arnings cover half of Portugal's trade deficit,
making an important contribu
tion to the current account balance.
To ease the strain of this boom on the 
Algarve, where some areas are
becoming overcrowded, disorganised and ugly, t
he government has devised a
new strategy for the tourism sector. It switches
 the emphasis from new
building to diversification and expanding the use of 
existing facilities.
According to Mr Alexandre Relvas, secretary of state fo
r tourism, 'our
resources have their limits and sooner or later we will reac
h saturation
point'.
Instead, tourism policy will switch from a heavy depend
ence on sun and sea
holidays and an over-strong reliance on the UK and Spain
, to more emphasis
on investing to improve facilities rather than build new 
ones.
To this end, the Department of Tourism has drawn up a 19-point plan wi
th the
overall aim of improving the competitiveness of Portuguese tourism. T
he
strategy will be backed up with an Es50bn (Pounds 230m) two-year financia
l
programme to support investment.
'To be competitive in the 1990s, tourism 
has to invest heavily in quality
rather than quantity,' says Mr Relvas. 'Thi
s financial programme will help
us create a competitive tourism industry in 
the future.'
A total of Es20bn from the new fund will be provided as grants 
for
investment, 60 per cent financed by European Community structural funds.

Grants will cover up to 25 per cent of the total cost of investment. But
un
like the past, very little will be made available for building new hotels.
I
nstead, the money will go to modernise and re-equip existing units, for the

construction of additional facilities such as golf courses and congress
cent
res and to diversify from beach holidays into sports and cultural
tourism.
A
 further Es30bn will be made available by the Tourism Fund, a special
credit
 institution, and banks at low interest rates.
Portugal's new tourism strate
gy is also aimed at combating a worrying trend.
While the number of tourists
 has increased spectacularly, the amount they
spend is falling. In 1980 aver
age spending per tourist was 35 per cent above
the European average in dolla
r terms. Today, it is 15 per cent below.
Tourists currently spend a mere Es9
,000 a day on hotels and restaurants.
Tourism authorities have mapped out tw
o main strategies for changing this.
Beach holidays have become a mature mar
ket, where growth is falling off
rapidly. Tough competition between major op
erators and the globalisation of
the market through airline liberalisation i
s forcing down prices.
Portugal is trying to diversify away from this sector
 into congresses,
cultural tourism and golf and other sporting holidays. 'Th
is development
will offer the twin advantages of attracting higher-spending 
tourists and
being able to use existing Algarve facilities in the off-season
,' says Mr
Relvas.
Officials also want to attract tourists away from the Alg
arve, which
accounts for 40 per cent of total bed nights, to other areas, su
ch as the
Lisbon coastline and the unspoiled Alentejo region north of the Al
garve.
Though Portugal will maintain promotional efforts in Britain and Spai
n,
which together account for half its bed nights, efforts will also be made
 to
boost the Italian, French and German markets and to break into the US an
d
Japan. Regular flights from Japan, scheduled to begin in 1994, should help

increase the number of its tourists from the current level of 30,000 a year
.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page V </PAGE>
</DOC
>

============= Transaction # 174 ==============================================
Transaction #:    174       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT932-2644</DOCNO>
<PROFILE>_AN-DFQCFAHKFT</PROFILE>
<DATE>9306
17
</DATE>
<HEADLINE> FT  17 JUN 93 / Survey of Ticino (7): Campaigning for 
culture vultures - The tourist industry </HEADLINE>
<BYLINE>    By OLIVIA SN
AIJE </BYLINE>
<TEXT>
WHEN Easter rolls around each year and the holiday rus
h to the south begins,
Ticino is one of the first stops on Northern European
s' itineraries.
Visitors bring out their linen suits, sit at outdoor cafes a
nd immediately
feel Latin. Because it is blessed with a Mediterranean micro-
climate, and
its culture is firmly rooted in Lombardy, the Canton has been a
ble to market
its decidedly non-Swiss features with success.
Today, tourism 
makes up 25 per cent of the gross cantonal product, bringing
in about SFr1.5
bn a year and employing 15,000 people or 4 per cent of
Ticino's population.

Ticino became a tourist destination in the late 19th century when the
Gottha
rd Pass railway was opened. Prior to that, the area was frequented for
the m
ost part by Italians who spent a few weeks in Ticino during the summer
and a
gain in the winter to get away from the Milanese fog. In the 1930s, the
Swis
s travel agency Hotelplan organised tours to Ticino and then, after the
Seco
nd World War, British and Americans became acquainted with the canton
throug
h their soldiers who were sent on holiday to various regions of
Switzerland.

Whereas the international jet set flocked to the Ticino lakes in the
sixtie
s, the seventies saw the advent of mass tourism and the small Canton
found i
tself unprepared to deal with the influx. It is still battling with
the resu
lts of the tourist boom which lasted well into the eighties: traffic
jams, l
ack of parking space and a certain loss of identity. The local
population, e
ager to take part in the flourishing industry, quickly sold off
large tracts
 of land at low prices, and readily spoke German to visitors.
The regional t
ourist offices decided to change their strategy in the early
eighties when t
hey felt that not only had the area reached saturation point
but also that G
erman was rapidly becoming a second language. According to Mr
Eugenio Foglia
, the Ticino tourist board's director, a campaign to promote
'intelligent to
urism' was launched, encouraging travellers to become more
sensitive to the 
identity of the area by visiting local museums and
participating in cultural
 events.
The tourist board, seeking to distance itself from mass tourism and
 to
attract a more culturally and ecologically-minded visitor, has made
conc
erted efforts to increase cultural events which incorporate the area's
Itali
an identity, evident in its architecture, music, gastronomy and art.
The can
ton's calendar of events has been flooded with music festivals and
art exhib
itions. Also new to the programme are special interest excursions
such as a 
tour of modern architecture in the region (the star of Ticino's
contemporary
 architecture movement is Mario Botta), and other tours which
target nature 
lovers and include cycling and hiking trails.
While early figures for the cu
ltural campaign indicate positive results,
Ticino is battling the recession.
 Last year the canton had a difficult time
filling its 20,000 beds - overnig
ht stays had dropped more than 8 per cent,
with medium and modest category h
otels suffering most. In fact, results for
the 1992 season in Ticino were wo
rse than for the rest of Switzerland.
This, says Mr Foglia, can be explained
 by Ticino's dependence on
Swiss-German and German clientele - more than hal
f of its tourists are
Swiss-German and Germans make up more than 50 per cent
 of the total number
of foreign visitors.
Both groups reacted to the economi
c downturn by cutting back drastically on
holidays, resulting in a 13.7 per 
cent drop in the number of Swiss visitors
to Ticino compared to a 6 per cent
 fall for the rest of Switzerland and a
drop of 4.6 per cent in foreign tour
ists compared to a slight increase in
travellers from abroad to other Swiss 
Cantons.
British and Americans were primarily responsible for this rise in o
ther
parts of Switzerland and it is precisely this clientele that Mr Foglia 
and
his office hope to attract. Although Ticino did see a return of British 
and
Americans last year following their absence during the Gulf War period,

according to Mr Foglia the numbers are insufficient to compensate for the
lo
ss of the Germans and Swiss-Germans.
Mr Foglia, whose tenure as head of the 
world tourist board began just when
the recession hit Switzerland, has been 
relentlessly promoting Ticino at
travel industry gatherings, hosting journal
ists and travel agents and
orchestrating mass mailings of brochures which, w
hile extolling the area's
mild climate and lush vegetation, focus on Ticino 
as a cultural centre as
well as a resort.
Retaining as clients the long-fait
hful sun-worshippers while attracting a
new crowd of museum-goers will entai
l a delicate balancing act but Ticino
has the advantage of already being div
ided into two distinct regions which
can handle the different exigencies of 
travellers.
The Sottoceneri is the southernmost tip of the Canton, situated 
around Lake
Lugano. Over the years, Lugano has developed into an urban centr
e and now
attracts more of a business crowd with weekend visitors and day tr
ippers
from Italy.
Lugano is the site of many of Ticino's museums, including
 Baron Heinrich
Thyssen-Bornemisza's Villa Favorita. Classical music, jazz a
nd world music
festivals also take place in the town.
Some 67 per cent of ov
ernight stays are by foreign visitors whereas in the
Sopraceneri region, whi
ch encompasses Locarno and the villages around Lake
Maggiore, Swiss tourists
 constitute 65 per cent of overnight stays and the
average length of time sp
ent there is longer than around Lugano. Mainly a
resort area, Sopraceneri's 
attraction is the vast Lake Maggiore and its
beaches and surrounding valleys
, rivers and streams.
Because the tourist industry is an essential contribut
or to Ticino's
revenue, the board receives a great deal of support from the 
canton
government to upgrade the quality of tourism. Enormous sums have been

invested in projects for new roads, tunnels and pedestrian zones to mitigat
e
heavy traffic during the tourist season, while much effort has gone into
e
ncouraging visitors to use public transport by offering special regional
pas
ses.
Ticino, still reeling from the effects of the recession on the 1992 sea
son,
is banking on diversifying the nationalities of its clientele and targe
ting
a higher income group, thus extending overnight stays. And Mr Foglia
be
lieves a cardinal lesson was learned from the tourist boom of the
seventies 
and eighties: so as to maintain a harmonious balance between
guests and host
s the tourists should not outnumber the local population.
</TEXT>
<XX>
Count
ries:-
</XX>
<CN>CHZ  Switzerland, West Europe.
</CN>
<XX>
Industries:-
</XX
>
<IN>P7011 Hotels and Motels.
    P7999 Amusement and Recreation, NEC.
</IN
>
<XX>
Types:-
</XX>
<TP>CMMT  Comment & Analysis.
</TP>
<PUB>The Financial 
Times </PUB>
<PAGE> London Page IV </PAGE>
</DOC>

============= Transaction # 175 ==============================================
Transaction #:    175       Transaction Code:  19 (Record Selected)        

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
                        Old Z39.50 Server ID:   0 (Astro/Math/Stat)        

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<DOC>
<DOCNO>FT932-2644</DOCNO>
<PROFILE>_AN-DFQCFAHKFT</PROFILE>
<DATE>9306
17
</DATE>
<HEADLINE> FT  17 JUN 93 / Survey of Ticino (7): Campaigning for 
culture vultures - The tourist industry </HEADLINE>
<BYLINE>    By OLIVIA SN
AIJE </BYLINE>
<TEXT>
WHEN Easter rolls around each year and the holiday rus
h to the south begins,
Ticino is one of the first stops on Northern European
s' itineraries.
Visitors bring out their linen suits, sit at outdoor cafes a
nd immediately
feel Latin. Because it is blessed with a Mediterranean micro-
climate, and
its culture is firmly rooted in Lombardy, the Canton has been a
ble to market
its decidedly non-Swiss features with success.
Today, tourism 
makes up 25 per cent of the gross cantonal product, bringing
in about SFr1.5
bn a year and employing 15,000 people or 4 per cent of
Ticino's population.

Ticino became a tourist destination in the late 19th century when the
Gottha
rd Pass railway was opened. Prior to that, the area was frequented for
the m
ost part by Italians who spent a few weeks in Ticino during the summer
and a
gain in the winter to get away from the Milanese fog. In the 1930s, the
Swis
s travel agency Hotelplan organised tours to Ticino and then, after the
Seco
nd World War, British and Americans became acquainted with the canton
throug
h their soldiers who were sent on holiday to various regions of
Switzerland.

Whereas the international jet set flocked to the Ticino lakes in the
sixtie
s, the seventies saw the advent of mass tourism and the small Canton
found i
tself unprepared to deal with the influx. It is still battling with
the resu
lts of the tourist boom which lasted well into the eighties: traffic
jams, l
ack of parking space and a certain loss of identity. The local
population, e
ager to take part in the flourishing industry, quickly sold off
large tracts
 of land at low prices, and readily spoke German to visitors.
The regional t
ourist offices decided to change their strategy in the early
eighties when t
hey felt that not only had the area reached saturation point
but also that G
erman was rapidly becoming a second language. According to Mr
Eugenio Foglia
, the Ticino tourist board's director, a campaign to promote
'intelligent to
urism' was launched, encouraging travellers to become more
sensitive to the 
identity of the area by visiting local museums and
participating in cultural
 events.
The tourist board, seeking to distance itself from mass tourism and
 to
attract a more culturally and ecologically-minded visitor, has made
conc
erted efforts to increase cultural events which incorporate the area's
Itali
an identity, evident in its architecture, music, gastronomy and art.
The can
ton's calendar of events has been flooded with music festivals and
art exhib
itions. Also new to the programme are special interest excursions
such as a 
tour of modern architecture in the region (the star of Ticino's
contemporary
 architecture movement is Mario Botta), and other tours which
target nature 
lovers and include cycling and hiking trails.
While early figures for the cu
ltural campaign indicate positive results,
Ticino is battling the recession.
 Last year the canton had a difficult time
filling its 20,000 beds - overnig
ht stays had dropped more than 8 per cent,
with medium and modest category h
otels suffering most. In fact, results for
the 1992 season in Ticino were wo
rse than for the rest of Switzerland.
This, says Mr Foglia, can be explained
 by Ticino's dependence on
Swiss-German and German clientele - more than hal
f of its tourists are
Swiss-German and Germans make up more than 50 per cent
 of the total number
of foreign visitors.
Both groups reacted to the economi
c downturn by cutting back drastically on
holidays, resulting in a 13.7 per 
cent drop in the number of Swiss visitors
to Ticino compared to a 6 per cent
 fall for the rest of Switzerland and a
drop of 4.6 per cent in foreign tour
ists compared to a slight increase in
travellers from abroad to other Swiss 
Cantons.
British and Americans were primarily responsible for this rise in o
ther
parts of Switzerland and it is precisely this clientele that Mr Foglia 
and
his office hope to attract. Although Ticino did see a return of British 
and
Americans last year following their absence during the Gulf War period,

according to Mr Foglia the numbers are insufficient to compensate for the
lo
ss of the Germans and Swiss-Germans.
Mr Foglia, whose tenure as head of the 
world tourist board began just when
the recession hit Switzerland, has been 
relentlessly promoting Ticino at
travel industry gatherings, hosting journal
ists and travel agents and
orchestrating mass mailings of brochures which, w
hile extolling the area's
mild climate and lush vegetation, focus on Ticino 
as a cultural centre as
well as a resort.
Retaining as clients the long-fait
hful sun-worshippers while attracting a
new crowd of museum-goers will entai
l a delicate balancing act but Ticino
has the advantage of already being div
ided into two distinct regions which
can handle the different exigencies of 
travellers.
The Sottoceneri is the southernmost tip of the Canton, situated 
around Lake
Lugano. Over the years, Lugano has developed into an urban centr
e and now
attracts more of a business crowd with weekend visitors and day tr
ippers
from Italy.
Lugano is the site of many of Ticino's museums, including
 Baron Heinrich
Thyssen-Bornemisza's Villa Favorita. Classical music, jazz a
nd world music
festivals also take place in the town.
Some 67 per cent of ov
ernight stays are by foreign visitors whereas in the
Sopraceneri region, whi
ch encompasses Locarno and the villages around Lake
Maggiore, Swiss tourists
 constitute 65 per cent of overnight stays and the
average length of time sp
ent there is longer than around Lugano. Mainly a
resort area, Sopraceneri's 
attraction is the vast Lake Maggiore and its
beaches and surrounding valleys
, rivers and streams.
Because the tourist industry is an essential contribut
or to Ticino's
revenue, the board receives a great deal of support from the 
canton
government to upgrade the quality of tourism. Enormous sums have been

invested in projects for new roads, tunnels and pedestrian zones to mitigat
e
heavy traffic during the tourist season, while much effort has gone into
e
ncouraging visitors to use public transport by offering special regional
pas
ses.
Ticino, still reeling from the effects of the recession on the 1992 sea
son,
is banking on diversifying the nationalities of its clientele and targe
ting
a higher income group, thus extending overnight stays. And Mr Foglia
be
lieves a cardinal lesson was learned from the tourist boom of the
seventies 
and eighties: so as to maintain a harmonious balance between
guests and host
s the tourists should not outnumber the local population.
</TEXT>
<XX>
Count
ries:-
</XX>
<CN>CHZ  Switzerland, West Europe.
</CN>
<XX>
Industries:-
</XX
>
<IN>P7011 Hotels and Motels.
    P7999 Amusement and Recreation, NEC.
</IN
>
<XX>
Types:-
</XX>
<TP>CMMT  Comment & Analysis.
</TP>
<PUB>The Financial 
Times </PUB>
<PAGE> London Page IV </PAGE>
</DOC>

============= Transaction # 176 ==============================================
Transaction #:    176       Transaction Code:  22 (Record(s) Saved)        

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
                        Old Z39.50 Server ID:   0 (Astro/Math/Stat)        

Usr Interface:   Prob          Time Cmd Sent: 16:00:00
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Selec. Rec. #:      5

Boolean Indexes Used:

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Associated Variable Length Text:

<DOC>
<DOCNO>FT932-2644</DOCNO>
<PROFILE>_AN-DFQCFAHKFT</PROFILE>
<DATE>9306
17
</DATE>
<HEADLINE> FT  17 JUN 93 / Survey of Ticino (7): Campaigning for 
culture vultures - The tourist industry </HEADLINE>
<BYLINE>    By OLIVIA SN
AIJE </BYLINE>
<TEXT>
WHEN Easter rolls around each year and the holiday rus
h to the south begins,
Ticino is one of the first stops on Northern European
s' itineraries.
Visitors bring out their linen suits, sit at outdoor cafes a
nd immediately
feel Latin. Because it is blessed with a Mediterranean micro-
climate, and
its culture is firmly rooted in Lombardy, the Canton has been a
ble to market
its decidedly non-Swiss features with success.
Today, tourism 
makes up 25 per cent of the gross cantonal product, bringing
in about SFr1.5
bn a year and employing 15,000 people or 4 per cent of
Ticino's population.

Ticino became a tourist destination in the late 19th century when the
Gottha
rd Pass railway was opened. Prior to that, the area was frequented for
the m
ost part by Italians who spent a few weeks in Ticino during the summer
and a
gain in the winter to get away from the Milanese fog. In the 1930s, the
Swis
s travel agency Hotelplan organised tours to Ticino and then, after the
Seco
nd World War, British and Americans became acquainted with the canton
throug
h their soldiers who were sent on holiday to various regions of
Switzerland.

Whereas the international jet set flocked to the Ticino lakes in the
sixtie
s, the seventies saw the advent of mass tourism and the small Canton
found i
tself unprepared to deal with the influx. It is still battling with
the resu
lts of the tourist boom which lasted well into the eighties: traffic
jams, l
ack of parking space and a certain loss of identity. The local
population, e
ager to take part in the flourishing industry, quickly sold off
large tracts
 of land at low prices, and readily spoke German to visitors.
The regional t
ourist offices decided to change their strategy in the early
eighties when t
hey felt that not only had the area reached saturation point
but also that G
erman was rapidly becoming a second language. According to Mr
Eugenio Foglia
, the Ticino tourist board's director, a campaign to promote
'intelligent to
urism' was launched, encouraging travellers to become more
sensitive to the 
identity of the area by visiting local museums and
participating in cultural
 events.
The tourist board, seeking to distance itself from mass tourism and
 to
attract a more culturally and ecologically-minded visitor, has made
conc
erted efforts to increase cultural events which incorporate the area's
Itali
an identity, evident in its architecture, music, gastronomy and art.
The can
ton's calendar of events has been flooded with music festivals and
art exhib
itions. Also new to the programme are special interest excursions
such as a 
tour of modern architecture in the region (the star of Ticino's
contemporary
 architecture movement is Mario Botta), and other tours which
target nature 
lovers and include cycling and hiking trails.
While early figures for the cu
ltural campaign indicate positive results,
Ticino is battling the recession.
 Last year the canton had a difficult time
filling its 20,000 beds - overnig
ht stays had dropped more than 8 per cent,
with medium and modest category h
otels suffering most. In fact, results for
the 1992 season in Ticino were wo
rse than for the rest of Switzerland.
This, says Mr Foglia, can be explained
 by Ticino's dependence on
Swiss-German and German clientele - more than hal
f of its tourists are
Swiss-German and Germans make up more than 50 per cent
 of the total number
of foreign visitors.
Both groups reacted to the economi
c downturn by cutting back drastically on
holidays, resulting in a 13.7 per 
cent drop in the number of Swiss visitors
to Ticino compared to a 6 per cent
 fall for the rest of Switzerland and a
drop of 4.6 per cent in foreign tour
ists compared to a slight increase in
travellers from abroad to other Swiss 
Cantons.
British and Americans were primarily responsible for this rise in o
ther
parts of Switzerland and it is precisely this clientele that Mr Foglia 
and
his office hope to attract. Although Ticino did see a return of British 
and
Americans last year following their absence during the Gulf War period,

according to Mr Foglia the numbers are insufficient to compensate for the
lo
ss of the Germans and Swiss-Germans.
Mr Foglia, whose tenure as head of the 
world tourist board began just when
the recession hit Switzerland, has been 
relentlessly promoting Ticino at
travel industry gatherings, hosting journal
ists and travel agents and
orchestrating mass mailings of brochures which, w
hile extolling the area's
mild climate and lush vegetation, focus on Ticino 
as a cultural centre as
well as a resort.
Retaining as clients the long-fait
hful sun-worshippers while attracting a
new crowd of museum-goers will entai
l a delicate balancing act but Ticino
has the advantage of already being div
ided into two distinct regions which
can handle the different exigencies of 
travellers.
The Sottoceneri is the southernmost tip of the Canton, situated 
around Lake
Lugano. Over the years, Lugano has developed into an urban centr
e and now
attracts more of a business crowd with weekend visitors and day tr
ippers
from Italy.
Lugano is the site of many of Ticino's museums, including
 Baron Heinrich
Thyssen-Bornemisza's Villa Favorita. Classical music, jazz a
nd world music
festivals also take place in the town.
Some 67 per cent of ov
ernight stays are by foreign visitors whereas in the
Sopraceneri region, whi
ch encompasses Locarno and the villages around Lake
Maggiore, Swiss tourists
 constitute 65 per cent of overnight stays and the
average length of time sp
ent there is longer than around Lugano. Mainly a
resort area, Sopraceneri's 
attraction is the vast Lake Maggiore and its
beaches and surrounding valleys
, rivers and streams.
Because the tourist industry is an essential contribut
or to Ticino's
revenue, the board receives a great deal of support from the 
canton
government to upgrade the quality of tourism. Enormous sums have been

invested in projects for new roads, tunnels and pedestrian zones to mitigat
e
heavy traffic during the tourist season, while much effort has gone into
e
ncouraging visitors to use public transport by offering special regional
pas
ses.
Ticino, still reeling from the effects of the recession on the 1992 sea
son,
is banking on diversifying the nationalities of its clientele and targe
ting
a higher income group, thus extending overnight stays. And Mr Foglia
be
lieves a cardinal lesson was learned from the tourist boom of the
seventies 
and eighties: so as to maintain a harmonious balance between
guests and host
s the tourists should not outnumber the local population.
</TEXT>
<XX>
Count
ries:-
</XX>
<CN>CHZ  Switzerland, West Europe.
</CN>
<XX>
Industries:-
</XX
>
<IN>P7011 Hotels and Motels.
    P7999 Amusement and Recreation, NEC.
</IN
>
<XX>
Types:-
</XX>
<TP>CMMT  Comment & Analysis.
</TP>
<PUB>The Financial 
Times </PUB>
<PAGE> London Page IV </PAGE>
</DOC>

============= Transaction # 177 ==============================================
Transaction #:    177       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
                        Old Z39.50 Server ID:   0 (Astro/Math/Stat)        

Usr Interface:   Prob          Time Cmd Sent: 16:00:00
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Selec. Rec. #:      6

Boolean Indexes Used:

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   Button 1: and   Button 2: OR    Button 3: or 
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Associated Variable Length Text:

<DOC>
<DOCNO>FT924-14658</DOCNO>
<PROFILE>_AN-CJHBUAGFFT</PROFILE>
<DATE>921
008
</DATE>
<HEADLINE> FT  08 OCT 92 / Survey on Austria (11): Hotel owners 
calculate carefully - Tourism aims at quality </HEADLINE>
<BYLINE>    By IAN
 RODGER </BYLINE>
<TEXT>
FOR AUSTRIA'S ambitious tourism industry, a good ye
ar may not be good
enough.
After several years of rapid expansion in the num
ber of visitors and in
tourism revenue, Austria's most important industry is
 expecting a
significant growth slowdown for 1992, primarily because of the 
world
recession.
Revenue from tourism will still reach a new record high, bu
t hotel owners
and tour operators are talking about a crisis. 'The profitabi
lity of hotels
is very poor, it is a real problem both in the cities and the
 resorts,' says
Mr Michael Raffling, head of the hotel and restaurant sectio
n in the
Austrian chamber of commerce.
Following years of heavy investment i
n expanding and upgrading facilities,
many hotel owners are heavily indebted
 and are being hurt by high European
interest rates. Any difficulties fillin
g beds are often solved by offering
heavy discounts on room prices, which te
nds to depress profits further, he
says.
'We are advising hotel owners to ca
lculate carefully. We tell them not to
subsidise their guests,' Mr Raffling 
says. Instead, he says hotels could
attract more visitors by focusing on spe
cial groups such as skiers, golfers
or fitness fanatics, who are willing the
 pay the full price if their
interests are met.
Tourism experts who are not 
affiliated with the hotel industry do not see
any fundamental problems behin
d the growth slowdown. The extremely hot
weather in central Europe this summ
er has hurt some resorts because many
Austrians decided to stay at home whil
e Germans went to the cooler Baltic
sea resorts, says Mr Paul Schimka, head 
of the tourism section in the
chamber of commerce.
The main cities of Vienna
 and Salzburg, where hotels rely heavily on US and
British visitors, had suf
fered a major setback last year because of the Gulf
war, and are only recove
ring modestly so far this year. Recession in the US
and Britain and the weak
 dollar are keeping those groups of tourists away,
Mr Schimka says.
But he e
xpects the winter season to be very strong 'because last year's
heavy snowfa
ll was the best advertisement we could get.'
Mr Egon Smeral, tourism forecas
ter at the Austrian Economic Research
Institute (WIFO), is expecting a reven
ue increase of 5 per cent or less from
the record ASch364bn earned from tour
ism in 1991. This is less than targets
set early in the year, but it will ke
ep the country on a long-term growth
track well above its main European comp
etitors.
'Austria is gaining market share,' Mr Smeral says. 'Last year, tour
ism in
Europe declined, and this year it is stagnating, but in Austria it is
 still
growing.'
The country continues to benefit indirectly from the war in
 what was
formerly Yugoslavia, because tourists who might have gone there go
 to
Austria instead. Reports of pollution in the Mediterranean may have also

worked in Austria's favour.
Austria is investing heavily in advertising, an
d a series of exhibitions on
the Hapsburg empire is generating good publicit
y as far as San Francisco and
Tokyo.
The number of overnight stays, which cl
imbed 5.3 per cent to 130 million
last year, is likely to stagnate in 1992, 
but experts say this is no reason
to worry. The industry is focusing on qual
ity rather than mass tourism, and
cheap private beds are quickly disappearin
g.
The opening of Eastern Europe has brought less of an influx of low-budget

tourists than many had expected. In the early days after the collapse of th
e
Berlin wall, hordes of tourists in rickety coaches would arrive in Vienna 
at
weekends for a look at the city's treasures and depart after spending alm
ost
nothing. But both the coaches and the tourists' spending power have impr
oved
significantly, tourism officials say.
</TEXT>
<PUB>The Financial Times 
</PUB>
<PAGE> London Page IV </PAGE>
</DOC>

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<DOCNO>FT924-14658</DOCNO>
<PROFILE>_AN-CJHBUAGFFT</PROFILE>
<DATE>921
008
</DATE>
<HEADLINE> FT  08 OCT 92 / Survey on Austria (11): Hotel owners 
calculate carefully - Tourism aims at quality </HEADLINE>
<BYLINE>    By IAN
 RODGER </BYLINE>
<TEXT>
FOR AUSTRIA'S ambitious tourism industry, a good ye
ar may not be good
enough.
After several years of rapid expansion in the num
ber of visitors and in
tourism revenue, Austria's most important industry is
 expecting a
significant growth slowdown for 1992, primarily because of the 
world
recession.
Revenue from tourism will still reach a new record high, bu
t hotel owners
and tour operators are talking about a crisis. 'The profitabi
lity of hotels
is very poor, it is a real problem both in the cities and the
 resorts,' says
Mr Michael Raffling, head of the hotel and restaurant sectio
n in the
Austrian chamber of commerce.
Following years of heavy investment i
n expanding and upgrading facilities,
many hotel owners are heavily indebted
 and are being hurt by high European
interest rates. Any difficulties fillin
g beds are often solved by offering
heavy discounts on room prices, which te
nds to depress profits further, he
says.
'We are advising hotel owners to ca
lculate carefully. We tell them not to
subsidise their guests,' Mr Raffling 
says. Instead, he says hotels could
attract more visitors by focusing on spe
cial groups such as skiers, golfers
or fitness fanatics, who are willing the
 pay the full price if their
interests are met.
Tourism experts who are not 
affiliated with the hotel industry do not see
any fundamental problems behin
d the growth slowdown. The extremely hot
weather in central Europe this summ
er has hurt some resorts because many
Austrians decided to stay at home whil
e Germans went to the cooler Baltic
sea resorts, says Mr Paul Schimka, head 
of the tourism section in the
chamber of commerce.
The main cities of Vienna
 and Salzburg, where hotels rely heavily on US and
British visitors, had suf
fered a major setback last year because of the Gulf
war, and are only recove
ring modestly so far this year. Recession in the US
and Britain and the weak
 dollar are keeping those groups of tourists away,
Mr Schimka says.
But he e
xpects the winter season to be very strong 'because last year's
heavy snowfa
ll was the best advertisement we could get.'
Mr Egon Smeral, tourism forecas
ter at the Austrian Economic Research
Institute (WIFO), is expecting a reven
ue increase of 5 per cent or less from
the record ASch364bn earned from tour
ism in 1991. This is less than targets
set early in the year, but it will ke
ep the country on a long-term growth
track well above its main European comp
etitors.
'Austria is gaining market share,' Mr Smeral says. 'Last year, tour
ism in
Europe declined, and this year it is stagnating, but in Austria it is
 still
growing.'
The country continues to benefit indirectly from the war in
 what was
formerly Yugoslavia, because tourists who might have gone there go
 to
Austria instead. Reports of pollution in the Mediterranean may have also

worked in Austria's favour.
Austria is investing heavily in advertising, an
d a series of exhibitions on
the Hapsburg empire is generating good publicit
y as far as San Francisco and
Tokyo.
The number of overnight stays, which cl
imbed 5.3 per cent to 130 million
last year, is likely to stagnate in 1992, 
but experts say this is no reason
to worry. The industry is focusing on qual
ity rather than mass tourism, and
cheap private beds are quickly disappearin
g.
The opening of Eastern Europe has brought less of an influx of low-budget

tourists than many had expected. In the early days after the collapse of th
e
Berlin wall, hordes of tourists in rickety coaches would arrive in Vienna 
at
weekends for a look at the city's treasures and depart after spending alm
ost
nothing. But both the coaches and the tourists' spending power have impr
oved
significantly, tourism officials say.
</TEXT>
<PUB>The Financial Times 
</PUB>
<PAGE> London Page IV </PAGE>
</DOC>

============= Transaction # 179 ==============================================
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<DOC>
<DOCNO>FT924-14658</DOCNO>
<PROFILE>_AN-CJHBUAGFFT</PROFILE>
<DATE>921
008
</DATE>
<HEADLINE> FT  08 OCT 92 / Survey on Austria (11): Hotel owners 
calculate carefully - Tourism aims at quality </HEADLINE>
<BYLINE>    By IAN
 RODGER </BYLINE>
<TEXT>
FOR AUSTRIA'S ambitious tourism industry, a good ye
ar may not be good
enough.
After several years of rapid expansion in the num
ber of visitors and in
tourism revenue, Austria's most important industry is
 expecting a
significant growth slowdown for 1992, primarily because of the 
world
recession.
Revenue from tourism will still reach a new record high, bu
t hotel owners
and tour operators are talking about a crisis. 'The profitabi
lity of hotels
is very poor, it is a real problem both in the cities and the
 resorts,' says
Mr Michael Raffling, head of the hotel and restaurant sectio
n in the
Austrian chamber of commerce.
Following years of heavy investment i
n expanding and upgrading facilities,
many hotel owners are heavily indebted
 and are being hurt by high European
interest rates. Any difficulties fillin
g beds are often solved by offering
heavy discounts on room prices, which te
nds to depress profits further, he
says.
'We are advising hotel owners to ca
lculate carefully. We tell them not to
subsidise their guests,' Mr Raffling 
says. Instead, he says hotels could
attract more visitors by focusing on spe
cial groups such as skiers, golfers
or fitness fanatics, who are willing the
 pay the full price if their
interests are met.
Tourism experts who are not 
affiliated with the hotel industry do not see
any fundamental problems behin
d the growth slowdown. The extremely hot
weather in central Europe this summ
er has hurt some resorts because many
Austrians decided to stay at home whil
e Germans went to the cooler Baltic
sea resorts, says Mr Paul Schimka, head 
of the tourism section in the
chamber of commerce.
The main cities of Vienna
 and Salzburg, where hotels rely heavily on US and
British visitors, had suf
fered a major setback last year because of the Gulf
war, and are only recove
ring modestly so far this year. Recession in the US
and Britain and the weak
 dollar are keeping those groups of tourists away,
Mr Schimka says.
But he e
xpects the winter season to be very strong 'because last year's
heavy snowfa
ll was the best advertisement we could get.'
Mr Egon Smeral, tourism forecas
ter at the Austrian Economic Research
Institute (WIFO), is expecting a reven
ue increase of 5 per cent or less from
the record ASch364bn earned from tour
ism in 1991. This is less than targets
set early in the year, but it will ke
ep the country on a long-term growth
track well above its main European comp
etitors.
'Austria is gaining market share,' Mr Smeral says. 'Last year, tour
ism in
Europe declined, and this year it is stagnating, but in Austria it is
 still
growing.'
The country continues to benefit indirectly from the war in
 what was
formerly Yugoslavia, because tourists who might have gone there go
 to
Austria instead. Reports of pollution in the Mediterranean may have also

worked in Austria's favour.
Austria is investing heavily in advertising, an
d a series of exhibitions on
the Hapsburg empire is generating good publicit
y as far as San Francisco and
Tokyo.
The number of overnight stays, which cl
imbed 5.3 per cent to 130 million
last year, is likely to stagnate in 1992, 
but experts say this is no reason
to worry. The industry is focusing on qual
ity rather than mass tourism, and
cheap private beds are quickly disappearin
g.
The opening of Eastern Europe has brought less of an influx of low-budget

tourists than many had expected. In the early days after the collapse of th
e
Berlin wall, hordes of tourists in rickety coaches would arrive in Vienna 
at
weekends for a look at the city's treasures and depart after spending alm
ost
nothing. But both the coaches and the tourists' spending power have impr
oved
significantly, tourism officials say.
</TEXT>
<PUB>The Financial Times 
</PUB>
<PAGE> London Page IV </PAGE>
</DOC>

============= Transaction # 180 ==============================================
Transaction #:    180       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT911-3396</DOCNO>
<PROFILE>_AN-BDYBFAAWFT</PROFILE>
<DATE>9104
25
</DATE>
<HEADLINE> FT  25 APR 91 / Survey of Greece (14): Foreign visitor
s set to fall at least 10% - How the country's tourist bodies and hoteliers 
are trying to win back lost trade </HEADLINE>
<BYLINE>    By KERIN HOPE </BY
LINE>
<TEXT>
ZEUS XENIOS, the ancient Greek god in charge of offering hospit
ality to
strangers, seems to have turned his back on the tourist industry. F
or the
third time in six years, a disastrous plunge in bookings threatens to
 wreck
a promising year for earnings.
Once again, a US travel warning to its
 nationals to avoid the eastern
Mediterranean because of the risk of terrori
st attacks following the Gulf
war is scaring off the high-spending sector of
 the Greek market: Japanese
honeymooners, incentive groups and conference or
ganisers as well as the
older Americans who like cruising in the Aegean.
Sim
ilar advice in 1985 was blamed for two unfavourable seasons that
followed. T
hen came a terrorist attack aboard a cruise ship in 1988. This
year a series
 of bomb explosions damaged foreign bank branches and tourist
buses and a ba
dly aimed rocket narrowly missed a luxury hotel. There were no
injuries but 
concerns over visitors' safety have revived.
As in the past, the Greek Touri
st Organisation (EOT) is trying to win back
lost trade through heavier adver
tising. This year's campaign will cost Dr6bn
(Dollars 33m). It is being co-o
rdinated for the first time by a group of
Athens advertising agencies with i
nternational affiliations. This, it is
hoped, will prove more effective than
 relying on haphazard media-buying by
EOT offices abroad.
Senior Greek touri
sm officials have visited the big tour operators in
Britain and Germany, the
ir two main markets, as well as the US, offering
reassurances about airport 
security and the government's determination to
crack down on terrorism.
'We 
constantly point out that Athens is still one of the safest cities in
Europe
 for visitors, in spite of what has been going on,' says Mr Nikos
Iatrakos, 
EOT's secretary-general. 'However, we still face a considerable
drop in numb
ers this year, 10 per cent at minimum but perhaps as much as 20
per cent.'
I
n 1990, tourist arrivals reached a record 9.3m, a 9 per cent increase over
t
he previous year's 8.5m, the average figure for most of the past decade.
Off
icial foreign exchange inflows totalled Dollars 2.57bn, up from Dollars
1.89
bn in 1989.
But if credit card purchases, cruise earnings and tour operators
'
commissions paid abroad are counted in, overall tourist earnings rose to
D
ollars 4.1bn, almost 6 per cent of GDP. Income for 1991 was expected to be
w
ell over Dollars 5bn but 'now we'll be lucky to maintain last year's
levels,
' says Mr Iatrakos.
The worst-affected region this year will undoubtedly be 
Athens. Despite its
chronic traffic and pollution problems it remains the fo
cus for most
conferences and incentive tours and a starting point for the cl
assical tours
favoured by the Americans and Japanese.
Hopes of substantially
 boosting tourism in the capital during the 1990s
suffered a setback last au
tumn with the failure of Athens' bid to stage the
1996 Olympic Games.
Advanc
e bookings for the Mediterranean Games in July, one of several major
sports 
events planned as dress rehearsals for an Athens Olympics, are
disappointing
, according to the organisers.
But amid the general gloom, tourist officials
 note one optimistic pointer
for the future: the sale of the 100-year-old Gr
ande Bretagne Hotel, to a
Dutch-based investment company which has transferr
ed management to Ciga, the
international hotel group. As a family-run establ
ishment, Athens' best-known
luxury hotel could barely make ends meet, with o
ccupancy averaging only 55
per cent in recent years.
Ciga is expected to inv
est considerably in refurbishing to bring the Grande
Bretagne's facilities u
p to the standard of its other traditional luxury
hotels around Europe. 'The
 presence of a really top-quality hotel in Athens
will upgrade the surroundi
ng area and encourage other hotels to try harder,'
says Mr Iatrakos.
The gov
ernment is already trying to ensure that older first-class hotels
around Gre
ece, including some in spectacular settings, are upgraded to the
standards o
f increasingly demanding guests. It is breaking up a
state-controlled hotel 
chain and offering individual units to private
operators on long-term leases
.
Improving hotel facilities is one of the easier ways of attracting more
ol
der, wealthier tourists, something Greece has been trying to do for years
bu
t without conspicuous success.
With 433,000 hotel beds, Greece has no shorta
ge of accommodation. But many
large island resort hotels built in the boom y
ears of the 1970s have not
been maintained to international tour operators' 
standards. Occupancy levels
in Corfu and Rhodes have slipped in recent years
.
It is no coincidence that the one area where bookings picked up sharply on
ce
the Gulf war ended was Crete, which boasts some of the best-run hotels in

Greece. Last year the island drew over 1.7m tourists, close to 25 per cent

of total arrivals.
'Large-scale tourism didn't start in Crete till the early
 1980s. The resort
hotels are newer and better managed and many of the mista
kes made elsewhere
were avoided. As a result, we get a very high proportion 
of return
visitors,' says Mr Thanos Habipis, chairman of the Cretan Hotelier
s'
Federation.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page VI
 Photograph The main square in Heraklion, Crete - where bookings picked up a
fter the Gulf War ended (Omitted). </PAGE>
</DOC>

============= Transaction # 181 ==============================================
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<DOC>
<DOCNO>FT911-3396</DOCNO>
<PROFILE>_AN-BDYBFAAWFT</PROFILE>
<DATE>9104
25
</DATE>
<HEADLINE> FT  25 APR 91 / Survey of Greece (14): Foreign visitor
s set to fall at least 10% - How the country's tourist bodies and hoteliers 
are trying to win back lost trade </HEADLINE>
<BYLINE>    By KERIN HOPE </BY
LINE>
<TEXT>
ZEUS XENIOS, the ancient Greek god in charge of offering hospit
ality to
strangers, seems to have turned his back on the tourist industry. F
or the
third time in six years, a disastrous plunge in bookings threatens to
 wreck
a promising year for earnings.
Once again, a US travel warning to its
 nationals to avoid the eastern
Mediterranean because of the risk of terrori
st attacks following the Gulf
war is scaring off the high-spending sector of
 the Greek market: Japanese
honeymooners, incentive groups and conference or
ganisers as well as the
older Americans who like cruising in the Aegean.
Sim
ilar advice in 1985 was blamed for two unfavourable seasons that
followed. T
hen came a terrorist attack aboard a cruise ship in 1988. This
year a series
 of bomb explosions damaged foreign bank branches and tourist
buses and a ba
dly aimed rocket narrowly missed a luxury hotel. There were no
injuries but 
concerns over visitors' safety have revived.
As in the past, the Greek Touri
st Organisation (EOT) is trying to win back
lost trade through heavier adver
tising. This year's campaign will cost Dr6bn
(Dollars 33m). It is being co-o
rdinated for the first time by a group of
Athens advertising agencies with i
nternational affiliations. This, it is
hoped, will prove more effective than
 relying on haphazard media-buying by
EOT offices abroad.
Senior Greek touri
sm officials have visited the big tour operators in
Britain and Germany, the
ir two main markets, as well as the US, offering
reassurances about airport 
security and the government's determination to
crack down on terrorism.
'We 
constantly point out that Athens is still one of the safest cities in
Europe
 for visitors, in spite of what has been going on,' says Mr Nikos
Iatrakos, 
EOT's secretary-general. 'However, we still face a considerable
drop in numb
ers this year, 10 per cent at minimum but perhaps as much as 20
per cent.'
I
n 1990, tourist arrivals reached a record 9.3m, a 9 per cent increase over
t
he previous year's 8.5m, the average figure for most of the past decade.
Off
icial foreign exchange inflows totalled Dollars 2.57bn, up from Dollars
1.89
bn in 1989.
But if credit card purchases, cruise earnings and tour operators
'
commissions paid abroad are counted in, overall tourist earnings rose to
D
ollars 4.1bn, almost 6 per cent of GDP. Income for 1991 was expected to be
w
ell over Dollars 5bn but 'now we'll be lucky to maintain last year's
levels,
' says Mr Iatrakos.
The worst-affected region this year will undoubtedly be 
Athens. Despite its
chronic traffic and pollution problems it remains the fo
cus for most
conferences and incentive tours and a starting point for the cl
assical tours
favoured by the Americans and Japanese.
Hopes of substantially
 boosting tourism in the capital during the 1990s
suffered a setback last au
tumn with the failure of Athens' bid to stage the
1996 Olympic Games.
Advanc
e bookings for the Mediterranean Games in July, one of several major
sports 
events planned as dress rehearsals for an Athens Olympics, are
disappointing
, according to the organisers.
But amid the general gloom, tourist officials
 note one optimistic pointer
for the future: the sale of the 100-year-old Gr
ande Bretagne Hotel, to a
Dutch-based investment company which has transferr
ed management to Ciga, the
international hotel group. As a family-run establ
ishment, Athens' best-known
luxury hotel could barely make ends meet, with o
ccupancy averaging only 55
per cent in recent years.
Ciga is expected to inv
est considerably in refurbishing to bring the Grande
Bretagne's facilities u
p to the standard of its other traditional luxury
hotels around Europe. 'The
 presence of a really top-quality hotel in Athens
will upgrade the surroundi
ng area and encourage other hotels to try harder,'
says Mr Iatrakos.
The gov
ernment is already trying to ensure that older first-class hotels
around Gre
ece, including some in spectacular settings, are upgraded to the
standards o
f increasingly demanding guests. It is breaking up a
state-controlled hotel 
chain and offering individual units to private
operators on long-term leases
.
Improving hotel facilities is one of the easier ways of attracting more
ol
der, wealthier tourists, something Greece has been trying to do for years
bu
t without conspicuous success.
With 433,000 hotel beds, Greece has no shorta
ge of accommodation. But many
large island resort hotels built in the boom y
ears of the 1970s have not
been maintained to international tour operators' 
standards. Occupancy levels
in Corfu and Rhodes have slipped in recent years
.
It is no coincidence that the one area where bookings picked up sharply on
ce
the Gulf war ended was Crete, which boasts some of the best-run hotels in

Greece. Last year the island drew over 1.7m tourists, close to 25 per cent

of total arrivals.
'Large-scale tourism didn't start in Crete till the early
 1980s. The resort
hotels are newer and better managed and many of the mista
kes made elsewhere
were avoided. As a result, we get a very high proportion 
of return
visitors,' says Mr Thanos Habipis, chairman of the Cretan Hotelier
s'
Federation.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page VI
 Photograph The main square in Heraklion, Crete - where bookings picked up a
fter the Gulf War ended (Omitted). </PAGE>
</DOC>

============= Transaction # 182 ==============================================
Transaction #:    182       Transaction Code:  22 (Record(s) Saved)        

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<DOC>
<DOCNO>FT911-3396</DOCNO>
<PROFILE>_AN-BDYBFAAWFT</PROFILE>
<DATE>9104
25
</DATE>
<HEADLINE> FT  25 APR 91 / Survey of Greece (14): Foreign visitor
s set to fall at least 10% - How the country's tourist bodies and hoteliers 
are trying to win back lost trade </HEADLINE>
<BYLINE>    By KERIN HOPE </BY
LINE>
<TEXT>
ZEUS XENIOS, the ancient Greek god in charge of offering hospit
ality to
strangers, seems to have turned his back on the tourist industry. F
or the
third time in six years, a disastrous plunge in bookings threatens to
 wreck
a promising year for earnings.
Once again, a US travel warning to its
 nationals to avoid the eastern
Mediterranean because of the risk of terrori
st attacks following the Gulf
war is scaring off the high-spending sector of
 the Greek market: Japanese
honeymooners, incentive groups and conference or
ganisers as well as the
older Americans who like cruising in the Aegean.
Sim
ilar advice in 1985 was blamed for two unfavourable seasons that
followed. T
hen came a terrorist attack aboard a cruise ship in 1988. This
year a series
 of bomb explosions damaged foreign bank branches and tourist
buses and a ba
dly aimed rocket narrowly missed a luxury hotel. There were no
injuries but 
concerns over visitors' safety have revived.
As in the past, the Greek Touri
st Organisation (EOT) is trying to win back
lost trade through heavier adver
tising. This year's campaign will cost Dr6bn
(Dollars 33m). It is being co-o
rdinated for the first time by a group of
Athens advertising agencies with i
nternational affiliations. This, it is
hoped, will prove more effective than
 relying on haphazard media-buying by
EOT offices abroad.
Senior Greek touri
sm officials have visited the big tour operators in
Britain and Germany, the
ir two main markets, as well as the US, offering
reassurances about airport 
security and the government's determination to
crack down on terrorism.
'We 
constantly point out that Athens is still one of the safest cities in
Europe
 for visitors, in spite of what has been going on,' says Mr Nikos
Iatrakos, 
EOT's secretary-general. 'However, we still face a considerable
drop in numb
ers this year, 10 per cent at minimum but perhaps as much as 20
per cent.'
I
n 1990, tourist arrivals reached a record 9.3m, a 9 per cent increase over
t
he previous year's 8.5m, the average figure for most of the past decade.
Off
icial foreign exchange inflows totalled Dollars 2.57bn, up from Dollars
1.89
bn in 1989.
But if credit card purchases, cruise earnings and tour operators
'
commissions paid abroad are counted in, overall tourist earnings rose to
D
ollars 4.1bn, almost 6 per cent of GDP. Income for 1991 was expected to be
w
ell over Dollars 5bn but 'now we'll be lucky to maintain last year's
levels,
' says Mr Iatrakos.
The worst-affected region this year will undoubtedly be 
Athens. Despite its
chronic traffic and pollution problems it remains the fo
cus for most
conferences and incentive tours and a starting point for the cl
assical tours
favoured by the Americans and Japanese.
Hopes of substantially
 boosting tourism in the capital during the 1990s
suffered a setback last au
tumn with the failure of Athens' bid to stage the
1996 Olympic Games.
Advanc
e bookings for the Mediterranean Games in July, one of several major
sports 
events planned as dress rehearsals for an Athens Olympics, are
disappointing
, according to the organisers.
But amid the general gloom, tourist officials
 note one optimistic pointer
for the future: the sale of the 100-year-old Gr
ande Bretagne Hotel, to a
Dutch-based investment company which has transferr
ed management to Ciga, the
international hotel group. As a family-run establ
ishment, Athens' best-known
luxury hotel could barely make ends meet, with o
ccupancy averaging only 55
per cent in recent years.
Ciga is expected to inv
est considerably in refurbishing to bring the Grande
Bretagne's facilities u
p to the standard of its other traditional luxury
hotels around Europe. 'The
 presence of a really top-quality hotel in Athens
will upgrade the surroundi
ng area and encourage other hotels to try harder,'
says Mr Iatrakos.
The gov
ernment is already trying to ensure that older first-class hotels
around Gre
ece, including some in spectacular settings, are upgraded to the
standards o
f increasingly demanding guests. It is breaking up a
state-controlled hotel 
chain and offering individual units to private
operators on long-term leases
.
Improving hotel facilities is one of the easier ways of attracting more
ol
der, wealthier tourists, something Greece has been trying to do for years
bu
t without conspicuous success.
With 433,000 hotel beds, Greece has no shorta
ge of accommodation. But many
large island resort hotels built in the boom y
ears of the 1970s have not
been maintained to international tour operators' 
standards. Occupancy levels
in Corfu and Rhodes have slipped in recent years
.
It is no coincidence that the one area where bookings picked up sharply on
ce
the Gulf war ended was Crete, which boasts some of the best-run hotels in

Greece. Last year the island drew over 1.7m tourists, close to 25 per cent

of total arrivals.
'Large-scale tourism didn't start in Crete till the early
 1980s. The resort
hotels are newer and better managed and many of the mista
kes made elsewhere
were avoided. As a result, we get a very high proportion 
of return
visitors,' says Mr Thanos Habipis, chairman of the Cretan Hotelier
s'
Federation.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page VI
 Photograph The main square in Heraklion, Crete - where bookings picked up a
fter the Gulf War ended (Omitted). </PAGE>
</DOC>

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<DOC>
<DOCNO>FT922-769</DOCNO>
<PROFILE>_AN-CFZBBAARFT</PROFILE>
<DATE>92062
6
</DATE>
<HEADLINE> FT  26 JUN 92 / Survey of India (19): Tourism targets s
eem not too fanciful  -One of the world's cheapest countries for western vis
itors is trying to do more to attract them </HEADLINE>
<BYLINE>    By MICHAE
L SMITH </BYLINE>
<TEXT>
THE SHARP fall in the value of the rupee in recent 
years has helped to make
India one of the cheapest countries in the world fo
r the western tourist.
The government has ambitious plans to take advantage;
 the tourism industry,
though encouraged by the level of ministerial enthusi
asm, is sceptical about
the chances that these will be achieved.
India has s
et lofty targets for tourism in the past - and failed to reach
them. Its sha
re of world tourism traffic has remained at 0.4 per cent over
the past five 
years and its foreign exchange earnings from tourism have
remained at Dollar
s 1.3-1.5bn.
Last month Mr Madhavrao Scindia, civil aviation and tourism min
ister,
announced that he wanted India's share of world tourism to rise to 1 
per
cent within five years. By the end of the century he wants both foreign

exchange earnings and employment in the sector - currently 14m  - to double.

The country's lacklustre performance last year, previously designated as a

year for tourism, is explained in part at least by events outside the
indust
ry's control.
The Gulf War upset the best-laid plans of all the countries in
 the region
and the violence surrounding the Indian general election campaig
n made the
sub-continent less attractive still. 'The tourism ministry does n
ot have an
in-house astrologer,' says Mr Scindia. 'If we had one he would ha
ve
cancelled the year for tourism before it began.'
Mr Scindia, an effective
 railways minster between 1985 and 1990, is viewed
as a breath of fresh air 
by tour operators and hoteliers, even though his
reputation has been tarnish
ed recently because of controversies over civil
aviation.
His plans for tour
ism include improving the quality of the infrastructure,
particularly transp
ort, increasing foreign investment and easing the vast
array of government c
ontrols and bureaucracy which hold back the industry
and providing financial
 encouragement for hotel building.
Compared with the performance of its neig
hbours, India's targets do not seem
so fanciful. Even if it were to raise th
e annual number of its tourist
arrivals from 1.7m to 3m or 4m, it would stil
l not equal the 4m-plus already
achieved by Singapore and Malaysia.
The main
 advantage that those two countries have over India is their
geographical po
sition. According to Mr AK Gupta, joint secretary at the
ministry of tourism
, at least 80 per cent of those who visit countries
belonging to the Associa
tion of South East Asian Nations come from within
Asean.
India's problem is 
that it is relatively isolated from the main sources of
tourism. 'The foreig
n tourist has to make up his mind,' says Mr Gopta.
'India is not a country f
or an impromptu visit.'
Nonetheless, India's infrastructural problems do not
 make it easy for
spur-of-the-moment visitors. Internal flights within India
 are often booked
some days in advance and, while anyone with corporate cont
acts can usually
arrange a late booking, that is of little use to the leisur
e tourist.
To help ease the congestion, the government has inaugurated an op
en skies
policy whereby independent operators can set up airlines between th
e main
cities. Three companies are already flying between them about 15 737s
 but
the foreign exchange expense of setting up in the business has led to
p
roblems for other potential entrants.
Meanwhile, progress has been made in m
aking Indian Airlines flights more
punctual and the tourism ministry says 86
 per cent on trunk (metropolitan)
routes are on time. More customer-friendly
 policies, such as warning
passengers of impending delays, are being introdu
ced.
To bring more people into the country, the government has eased rules o
n
charter flights. Whereas an airline would previously have to wait six mont
hs
for clearance to bring in a chartered flight, arrangements can now be mad
e
within 24 hours, says the tourism ministry. It expects the number of
chart
ers to increase to at least 400 in 1992-93, against a previous norm of
125.

To achieve its targets, India will also need to spend far more to increase
t
he number of its hotel rooms. There are now some 44,000 in the approved
sect
or, perhaps half of what is needed.
Upmarket hotel chains are already planni
ng significant expansion. The
Welcomgroup has a Rs1.6bn development plan for
 the next three years which is
expected to increase by 50 per cent its capac
ity from the present 2,300
rooms.
Last month's government tourism plan incre
ased from 3 to 5 per cent the
interest subsidy available to some two- and th
ree-star hotels, while
discontinuing subsidies for four- and five-star rated
 hotels.
Investment in hotels and other facilities will also be encouraged i
n special
tourism areas where tax concessions will be made available.
This r
eflects a government desire to move away from the previous even-handed
appro
ach to the various regions.
Fifteen specified circuits and destinations are 
being identified for
concentrated marketing and development. That should tak
e some of the
pressure off the Golden Triangle of New Delhi, Agra and Jaipur
 which, in
peak tourism months at least, is close to full capacity.
The gove
rnment's decision to sell 60 per cent of its equity in 24 hotels
managed by 
the Indian Tourism Development Corporation could also increase
the supply of
 quality accommodation. Foreign companies are being invited to
take stakes o
f up to 40 per cent in the hotels which will be marketed in
batches of four.

It remains to be seen how interested foreign companies will be in joining
v
entures in which the government will still hold 40 per cent of the equity.
A
 further deterrent is that the hotels, which comprise one of the largest
cha
ins in the country, have staff-resident ratios twice as high as private
sect
or hotels.
Foreign investment in private sector tourist enterprises has also
 been made
possible through recent liberalisation. The high price of land in
 cities
will remain a brake on development, particularly on two- to three-st
ar
hotels which are needed more urgently than pricier units.
All of these de
velopments have encouraged the tourism industry that real
change is in the o
ffing, but grievances remain.
The Indian Association of Tour Operators says 
the government's introduction
of a 20 per cent tax on foreign currency payme
nts at hotels where nightly
rates exceed Rs1,200 will weaken the enthusiasm 
of foreign tour operators to
organise trips to India.
The association also w
ants the government to allow more luxury cars to be
imported. which it says 
are needed for the industry.
Few in the industry are confident that the gove
rnment can achieve all of its
targets, but growth in tourist arrivals and fo
reign exchange receipts of
between 10 and 15 per cent a year is considered e
minently plausible.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Pa
ge XI </PAGE>
</DOC>

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<DOC>
<DOCNO>FT921-13642</DOCNO>
<PROFILE>_AN-CAUBNAAJFT</PROFILE>
<DATE>920
121
</DATE>
<HEADLINE> FT  21 JAN 92 / Survey of Egypt (11): Attractions of 
peace - Tourists are returning </HEADLINE>
<BYLINE>    By CAROLINE SOUTHEY <
/BYLINE>
<TEXT>
EGYPT'S tourist industry is celebrating its own victory just
 12 months after
it was plunged in gloom by the Gulf crisis.
In the wake of 
a publicity drive, Dr Fouad Sultan, the tourism minister, is
ebullient. 'Tre
nds are extremely positive. We are worried about
overbooking,' he says, addi
ng that he hopes this season will be the best on
record.
Last year began on 
a less happy note. In the fiscal year July-June 1990-91
the industry recorde
d 16.5m tourist nights compared with the record of 22.1m
the previous year. 
The drop in tourist income was even more dramatic - by 60
per cent from Doll
ars 2.5bn to Dollars 1bn.
But the first quarter for this fiscal year (July, 
August, September) showed
a strong rebound. In August 1991 the number of tou
rists from Arab countries
rose by 5.6 per cent. The average increase in arri
vals in August 1991 stood
at 2.5 per cent. The recession in the west continu
ed to affect non-Arab
arrivals which fell by 9 per cent.
The activity at som
e of Egypt's famous tourists sites only partly reflects
the improvement show
n by the statistics. In Luxor, site of the Karnak Temple
on the east bank of
 the Nile and the Theban necropolis on the west bank,
tour guides confirm an
 increase in tourists compared with a year ago, but
say numbers are still we
ll down on 1989.
'We used to have 4,000 tourists a day visiting the tombs in
 the Valley of
the Kings before the Gulf crisis. Last year there were days w
hen no-one
came. Now we have 1,000 a day.'
Ferries used by tourists to cross
 from the east to the west bank at Luxor
are running well below capacity alt
hough local tour operators reported
capacity bookings in Luxor's 33 hotels f
or January.
Dr Sultan feels confident that occupancy rates at Cairo hotels f
or this
holiday season would reach 98 per cent, 75 per cent in South Sinai (
Sharm el
Sheikh), 60 per cent in Hurghada on the Red Sea coast, and 65-70 pe
r cent in
upper Egypt - Luxor and Aswan.
He attributes some of the success t
o Egypt's marketing campaign after the
end of the Gulf war when the governme
nt and private sector launched a
campaign to sell Egypt as a secure destinat
ion.
Another factor may have been that many tourists had delayed their trave
l
until after the Gulf crisis, contributing to a surge in arrivals in the
ea
rly months of the new fiscal year.
Mr Sultan anticipates that tourist nights
 for 1991-1992 will reach something
like 25m (compared with 22.1m in 1989/90
). Income will exceed the Dollars
3bn achieved in 1989/90.
He says that anot
her positive trend has been the fact that many hotels in
Egypt are reporting
 tourists returning for a second, third or even fourth
time. Mr Sultan says 
the average stay in Luxor, which used to be about one
night, is now three.
T
he main change, he claims, is that people now know Egypt 'not only for
cultu
re, but also for other activities such as leisure and conferences'.
Egypt ha
s encouraged the development of more and better facilities for
tourists over
 the last 10 years. As a result an important factor in the
growing number of
 arrivals has been the large increase in the number of
hotel beds.
In June 1
991, there were 53,000 rooms compared with fewer than 25,000 rooms
in 1985. 
Another 14,000 rooms are under construction and will be completed
in the nex
t couple of years.
Dr Sultan says the authorities have been successful at st
imulating private
sector investment in the tourism sector which is by far Eg
ypt's fastest
growing industry.
There is also evidence that Egyptian nationa
ls with large off-shore dollar
deposits are beginning to invest in the secto
r.
New projects including extensions to the Meridien Hotel in Cairo and
ambi
tious schemes on the Red Sea coast south of Hurghada are attracting
investme
nt from foreigners as well as Egyptians.
The industry has its tensions, howe
ver. For some involved in preserving
Egypt's ancient monuments, the governme
nt is pursuing development at the
cost of preserving historical sites.
'We t
ake our monuments for granted. The government exploits their earning
potenti
al, but does nothing to protect or develop them. Not enough is being
done to
 curb pollution and ensure we have historical attractions for decades
to com
e,' says a tour guide in Cairo.
</TEXT>
<PUB>The Financial Times </PUB>
<PAG
E> London Page V </PAGE>
</DOC>

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<DOC>
<DOCNO>FT921-13642</DOCNO>
<PROFILE>_AN-CAUBNAAJFT</PROFILE>
<DATE>920
121
</DATE>
<HEADLINE> FT  21 JAN 92 / Survey of Egypt (11): Attractions of 
peace - Tourists are returning </HEADLINE>
<BYLINE>    By CAROLINE SOUTHEY <
/BYLINE>
<TEXT>
EGYPT'S tourist industry is celebrating its own victory just
 12 months after
it was plunged in gloom by the Gulf crisis.
In the wake of 
a publicity drive, Dr Fouad Sultan, the tourism minister, is
ebullient. 'Tre
nds are extremely positive. We are worried about
overbooking,' he says, addi
ng that he hopes this season will be the best on
record.
Last year began on 
a less happy note. In the fiscal year July-June 1990-91
the industry recorde
d 16.5m tourist nights compared with the record of 22.1m
the previous year. 
The drop in tourist income was even more dramatic - by 60
per cent from Doll
ars 2.5bn to Dollars 1bn.
But the first quarter for this fiscal year (July, 
August, September) showed
a strong rebound. In August 1991 the number of tou
rists from Arab countries
rose by 5.6 per cent. The average increase in arri
vals in August 1991 stood
at 2.5 per cent. The recession in the west continu
ed to affect non-Arab
arrivals which fell by 9 per cent.
The activity at som
e of Egypt's famous tourists sites only partly reflects
the improvement show
n by the statistics. In Luxor, site of the Karnak Temple
on the east bank of
 the Nile and the Theban necropolis on the west bank,
tour guides confirm an
 increase in tourists compared with a year ago, but
say numbers are still we
ll down on 1989.
'We used to have 4,000 tourists a day visiting the tombs in
 the Valley of
the Kings before the Gulf crisis. Last year there were days w
hen no-one
came. Now we have 1,000 a day.'
Ferries used by tourists to cross
 from the east to the west bank at Luxor
are running well below capacity alt
hough local tour operators reported
capacity bookings in Luxor's 33 hotels f
or January.
Dr Sultan feels confident that occupancy rates at Cairo hotels f
or this
holiday season would reach 98 per cent, 75 per cent in South Sinai (
Sharm el
Sheikh), 60 per cent in Hurghada on the Red Sea coast, and 65-70 pe
r cent in
upper Egypt - Luxor and Aswan.
He attributes some of the success t
o Egypt's marketing campaign after the
end of the Gulf war when the governme
nt and private sector launched a
campaign to sell Egypt as a secure destinat
ion.
Another factor may have been that many tourists had delayed their trave
l
until after the Gulf crisis, contributing to a surge in arrivals in the
ea
rly months of the new fiscal year.
Mr Sultan anticipates that tourist nights
 for 1991-1992 will reach something
like 25m (compared with 22.1m in 1989/90
). Income will exceed the Dollars
3bn achieved in 1989/90.
He says that anot
her positive trend has been the fact that many hotels in
Egypt are reporting
 tourists returning for a second, third or even fourth
time. Mr Sultan says 
the average stay in Luxor, which used to be about one
night, is now three.
T
he main change, he claims, is that people now know Egypt 'not only for
cultu
re, but also for other activities such as leisure and conferences'.
Egypt ha
s encouraged the development of more and better facilities for
tourists over
 the last 10 years. As a result an important factor in the
growing number of
 arrivals has been the large increase in the number of
hotel beds.
In June 1
991, there were 53,000 rooms compared with fewer than 25,000 rooms
in 1985. 
Another 14,000 rooms are under construction and will be completed
in the nex
t couple of years.
Dr Sultan says the authorities have been successful at st
imulating private
sector investment in the tourism sector which is by far Eg
ypt's fastest
growing industry.
There is also evidence that Egyptian nationa
ls with large off-shore dollar
deposits are beginning to invest in the secto
r.
New projects including extensions to the Meridien Hotel in Cairo and
ambi
tious schemes on the Red Sea coast south of Hurghada are attracting
investme
nt from foreigners as well as Egyptians.
The industry has its tensions, howe
ver. For some involved in preserving
Egypt's ancient monuments, the governme
nt is pursuing development at the
cost of preserving historical sites.
'We t
ake our monuments for granted. The government exploits their earning
potenti
al, but does nothing to protect or develop them. Not enough is being
done to
 curb pollution and ensure we have historical attractions for decades
to com
e,' says a tour guide in Cairo.
</TEXT>
<PUB>The Financial Times </PUB>
<PAG
E> London Page V </PAGE>
</DOC>

============= Transaction # 186 ==============================================
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<DOC>
<DOCNO>FT921-13642</DOCNO>
<PROFILE>_AN-CAUBNAAJFT</PROFILE>
<DATE>920
121
</DATE>
<HEADLINE> FT  21 JAN 92 / Survey of Egypt (11): Attractions of 
peace - Tourists are returning </HEADLINE>
<BYLINE>    By CAROLINE SOUTHEY <
/BYLINE>
<TEXT>
EGYPT'S tourist industry is celebrating its own victory just
 12 months after
it was plunged in gloom by the Gulf crisis.
In the wake of 
a publicity drive, Dr Fouad Sultan, the tourism minister, is
ebullient. 'Tre
nds are extremely positive. We are worried about
overbooking,' he says, addi
ng that he hopes this season will be the best on
record.
Last year began on 
a less happy note. In the fiscal year July-June 1990-91
the industry recorde
d 16.5m tourist nights compared with the record of 22.1m
the previous year. 
The drop in tourist income was even more dramatic - by 60
per cent from Doll
ars 2.5bn to Dollars 1bn.
But the first quarter for this fiscal year (July, 
August, September) showed
a strong rebound. In August 1991 the number of tou
rists from Arab countries
rose by 5.6 per cent. The average increase in arri
vals in August 1991 stood
at 2.5 per cent. The recession in the west continu
ed to affect non-Arab
arrivals which fell by 9 per cent.
The activity at som
e of Egypt's famous tourists sites only partly reflects
the improvement show
n by the statistics. In Luxor, site of the Karnak Temple
on the east bank of
 the Nile and the Theban necropolis on the west bank,
tour guides confirm an
 increase in tourists compared with a year ago, but
say numbers are still we
ll down on 1989.
'We used to have 4,000 tourists a day visiting the tombs in
 the Valley of
the Kings before the Gulf crisis. Last year there were days w
hen no-one
came. Now we have 1,000 a day.'
Ferries used by tourists to cross
 from the east to the west bank at Luxor
are running well below capacity alt
hough local tour operators reported
capacity bookings in Luxor's 33 hotels f
or January.
Dr Sultan feels confident that occupancy rates at Cairo hotels f
or this
holiday season would reach 98 per cent, 75 per cent in South Sinai (
Sharm el
Sheikh), 60 per cent in Hurghada on the Red Sea coast, and 65-70 pe
r cent in
upper Egypt - Luxor and Aswan.
He attributes some of the success t
o Egypt's marketing campaign after the
end of the Gulf war when the governme
nt and private sector launched a
campaign to sell Egypt as a secure destinat
ion.
Another factor may have been that many tourists had delayed their trave
l
until after the Gulf crisis, contributing to a surge in arrivals in the
ea
rly months of the new fiscal year.
Mr Sultan anticipates that tourist nights
 for 1991-1992 will reach something
like 25m (compared with 22.1m in 1989/90
). Income will exceed the Dollars
3bn achieved in 1989/90.
He says that anot
her positive trend has been the fact that many hotels in
Egypt are reporting
 tourists returning for a second, third or even fourth
time. Mr Sultan says 
the average stay in Luxor, which used to be about one
night, is now three.
T
he main change, he claims, is that people now know Egypt 'not only for
cultu
re, but also for other activities such as leisure and conferences'.
Egypt ha
s encouraged the development of more and better facilities for
tourists over
 the last 10 years. As a result an important factor in the
growing number of
 arrivals has been the large increase in the number of
hotel beds.
In June 1
991, there were 53,000 rooms compared with fewer than 25,000 rooms
in 1985. 
Another 14,000 rooms are under construction and will be completed
in the nex
t couple of years.
Dr Sultan says the authorities have been successful at st
imulating private
sector investment in the tourism sector which is by far Eg
ypt's fastest
growing industry.
There is also evidence that Egyptian nationa
ls with large off-shore dollar
deposits are beginning to invest in the secto
r.
New projects including extensions to the Meridien Hotel in Cairo and
ambi
tious schemes on the Red Sea coast south of Hurghada are attracting
investme
nt from foreigners as well as Egyptians.
The industry has its tensions, howe
ver. For some involved in preserving
Egypt's ancient monuments, the governme
nt is pursuing development at the
cost of preserving historical sites.
'We t
ake our monuments for granted. The government exploits their earning
potenti
al, but does nothing to protect or develop them. Not enough is being
done to
 curb pollution and ensure we have historical attractions for decades
to com
e,' says a tour guide in Cairo.
</TEXT>
<PUB>The Financial Times </PUB>
<PAG
E> London Page V </PAGE>
</DOC>

============= Transaction # 187 ==============================================
Transaction #:    187       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
                        Old Z39.50 Server ID:   0 (Astro/Math/Stat)        

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Selec. Rec. #:     11

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   0 Organization   0 LCCN       0 Topic      0 Host Item
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<DOC>
<DOCNO>FT941-8564</DOCNO>
<PROFILE>_AN-EBRCXAHEFT</PROFILE>
<DATE>9402
18
</DATE>
<HEADLINE> FT  18 FEB 94 / Survey of Malta (5): Tourism seeks mor
e five-star winners - The industry is trying to go upmarket </HEADLINE>
<BYL
INE>    By RICHARD EVANS </BYLINE>
<TEXT>
Malta is becoming increasingly ner
vous about its success in attracting ever
greater numbers of tourists, parti
cularly from the UK.
Though all tourists are welcome, fresh marketing tactic
s are being developed
and refined. While tourism is set to remain the island
's predominant
industry, the authorities are keen to change Malta's cheap su
n and sea image
and go more upmarket.
Two specific problems in the pattern o
f tourism are being addressed. The
first is the common phenomenon of the sha
rp tourist peak in July and August,
when the volume of visitors puts a great
 strain on services, and the second
is the continuing over-dependence on the
 UK for tourists. The latest
statistics show that the corrective campaigns a
re meeting with mixed
success.
Mr Michael Soler, chairman of Malta's nationa
l tourism organisation,
explains: 'Our focus has to change as we are going t
o reach our maximum
capacity soon. We will have to manage volume growth of t
ourists very
carefully.'
The figures tell the story. There was a slump in to
urism in the early to mid
1980s, caused partly by high prices, variable qual
ity and infrastructure
problems including water and electricity shortages, a
nd partly by an adverse
political climate as the Labour government courted t
he Libyans and eastern
bloc in a determined attempt to stay neutral and non-
aligned.
Costs were then pegged, infrastructure improvements launched, and a

differential exchange rate introduced for UK tour operators. Tourist number
s
rose steadily from 480,000 in 1984 to 746,000 in 1987, 828,000 in 1989 and

over 1m in 1992, three years ahead of target.
The upward trend continued la
st year despite difficult economic conditions
in most European markets, and 
the total reached 1,050,000, an all-time
record. But to the consternation of
 the authorities, arrivals in the peak
summer months were over 7 per cent up
 on the corresponding period of 1992.
It was not the trend they wanted.
A mo
re even flow of visitors throughout the year would lessen the strain on
serv
ices at peak times and create more permanent year-round employment in
hotels
 and the tourist sector. Tourism, by far the largest industry, employs
one t
hird of the workforce and accounts for 40 per cent of gross domestic
product
.
The proposal, therefore, is to attract more visitors in the winter and in

the 'shoulder' months of spring and autumn, and at the same time to seek
tou
rists who will spend more per head than the package tour visitor staying
in 
a modest hotel or in self-catering accommodation.
'We need to give more atte
ntion to our heritage, history, architecture and
yachting facilities to cate
r for the better-off who will spend more in
Malta,' says Mr Soler. One sense
s a certain exasperation that the British
remain more reluctant than the Ger
mans and Italians to move from the
sun-and-sea stage of recreational evoluti
on.
The raw material for development is certainly there. The history and
arc
haeology of Malta and its sister island of Gozo are astonishingly varied
but
 largely undeveloped, probably because attention has been concentrated on
th
e sun and sea volume end of the market. There are open air neolithic
temples
 on Malta and Gozo, and the subterranean temple or hypogeum at Hal
Saflieni,
 which are reputed to be among the oldest architectural monuments
in existen
ce.
From later centuries there are many relics left by a succession of
conqu
erors including the Phoenicians, Carthaginians, Romans, Arabs and
Normans, l
eading in 1530 to one of the richest periods in Malta's history,
when Empero
r Charles V gave the islands to the Knights of St John after they
had been d
riven out of Jerusalem and then Rhodes.
The Knights of Malta constructed a w
ealth of fortifications, churches and
palaces in their 268-year rule, includ
ing Valletta, one of the world's great
fortified harbours. It became Malta's
 capital under the Knights, replacing
the wonderful 'silent city' of Mdina b
uilt by the Arabs.
Apart from the attractions of history, other high-spendin
g visitors are
being sought in off-peak months with special events including
 flower
festivals, historic pageants, music and jazz festivals, a boat show 
and
power boat racing.
The government has banned the building of new hotels 
except those in the
five-star category because of a surfeit of lower and mid
dle range
accommodation, and a big new yacht marina is being constructed. Th
ere is
also a proposal to transform the run-down Manoel Island in the centre
 of
Valletta's Grand Harbour into a tourist complex featuring hotels,
restau
rants, possibly another marina, upmarket shops and a theatre.
The tourism in
dustry has proved remarkably resilient during the recession in
Malta's chief
 markets, and despite the pressures caused by the growing
numbers of peak se
ason visitors, other aspects of the government's strategy
are making progres
s.
An example is the big emphasis on the UK market which in 1980 provided Ma
lta
with over 75 per cent of its tourists. This dependence was considered to
 be
commercially unhealthy, and efforts have been made to attract visitors f
rom
other countries, particularly Germany, Italy, France and Scandinavia. Th
ese
efforts have begun to work.
As the tourist market has expanded, the incr
ease in the number of visitors
from the UK has failed to keep pace. As a res
ult, the UK share has been
falling slowly but steadily for a number of years
 with the sole exception of
1992 when the Queen visted Malta to mark the 50t
h anniversary of the wartime
siege. The downward trend should continue as th
e forward currency rate for
British tour operators is phased out next year.

Last year, the UK represented 49 per cent of arrivals compared with 52 per
c
ent in 1992, and arrivals from continental Europe rose sharply, including
of
f-peak months. German tourists increased by 8.5 per cent and now represent
1
6 per cent of all arrivals, second only to the British. Arrivals from Italy

increased by over 12 per cent and should grow quickly following the
inaugura
tion of Air Malta flights to Milan.
The airline and the national tourist off
ice are to open an office in New
York to tap the lucrative US market which c
ould be attracted by the history,
climate and universal use of English. Howe
ver, a big handicap is that there
is no direct flight to Malta. One proposal
 is to link up with a big US
airline which would fly tourists to Europe from
 where Air Malta would
complete the journey at preferential rates.
The best 
news of all for the authorities last year was that the tactic of
trying to a
ttract more upmarket tourists appears to be succeeding after a
hesitant star
t. Per capita spending by visitors increased by a healthy 18
per cent, thank
s partly to increasing success in the cruise and conferences
market, Neverth
eless, package tours will continue to be Malta's tourist
staple for some tim
e to come.
</TEXT>
<XX>
Countries:-
</XX>
<CN>MTZ  Malta, West Europe.
</CN>

<XX>
Industries:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
    P9311 
Finance, Taxation, and Monetary Policy.
</IN>
<XX>
Types:-
</XX>
<TP>ECON  E
conomic Indicators.
    CMMT  Comment & Analysis.
</TP>
<PUB>The Financial T
imes </PUB>
<PAGE> London Page III </PAGE>
</DOC>

============= Transaction # 188 ==============================================
Transaction #:    188       Transaction Code:  19 (Record Selected)        

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
                        Old Z39.50 Server ID:   0 (Astro/Math/Stat)        

Usr Interface:   Prob          Time Cmd Sent: 16:00:00
  Rec. Format:  Short      Time Cmd Complete: 16:34:33
Selec. Rec. #:     11

Boolean Indexes Used:

   0 Author         0 Date       0 Rectype    0 X_Corp Author    0 Call #
   0 Title          0 Language   0 X_Author   0 Uniform Title
   0 Subject        0 ISBN       0 X_Title    0 X_Subject
   0 Organization   0 LCCN       0 Topic      0 Host Item
   0 Series         0 ISSN       0 Keyword    0 Conf

Boolean Conjunctions:

   Button 1: and   Button 2: OR    Button 3: or 
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Associated Variable Length Text:

<DOC>
<DOCNO>FT941-8564</DOCNO>
<PROFILE>_AN-EBRCXAHEFT</PROFILE>
<DATE>9402
18
</DATE>
<HEADLINE> FT  18 FEB 94 / Survey of Malta (5): Tourism seeks mor
e five-star winners - The industry is trying to go upmarket </HEADLINE>
<BYL
INE>    By RICHARD EVANS </BYLINE>
<TEXT>
Malta is becoming increasingly ner
vous about its success in attracting ever
greater numbers of tourists, parti
cularly from the UK.
Though all tourists are welcome, fresh marketing tactic
s are being developed
and refined. While tourism is set to remain the island
's predominant
industry, the authorities are keen to change Malta's cheap su
n and sea image
and go more upmarket.
Two specific problems in the pattern o
f tourism are being addressed. The
first is the common phenomenon of the sha
rp tourist peak in July and August,
when the volume of visitors puts a great
 strain on services, and the second
is the continuing over-dependence on the
 UK for tourists. The latest
statistics show that the corrective campaigns a
re meeting with mixed
success.
Mr Michael Soler, chairman of Malta's nationa
l tourism organisation,
explains: 'Our focus has to change as we are going t
o reach our maximum
capacity soon. We will have to manage volume growth of t
ourists very
carefully.'
The figures tell the story. There was a slump in to
urism in the early to mid
1980s, caused partly by high prices, variable qual
ity and infrastructure
problems including water and electricity shortages, a
nd partly by an adverse
political climate as the Labour government courted t
he Libyans and eastern
bloc in a determined attempt to stay neutral and non-
aligned.
Costs were then pegged, infrastructure improvements launched, and a

differential exchange rate introduced for UK tour operators. Tourist number
s
rose steadily from 480,000 in 1984 to 746,000 in 1987, 828,000 in 1989 and

over 1m in 1992, three years ahead of target.
The upward trend continued la
st year despite difficult economic conditions
in most European markets, and 
the total reached 1,050,000, an all-time
record. But to the consternation of
 the authorities, arrivals in the peak
summer months were over 7 per cent up
 on the corresponding period of 1992.
It was not the trend they wanted.
A mo
re even flow of visitors throughout the year would lessen the strain on
serv
ices at peak times and create more permanent year-round employment in
hotels
 and the tourist sector. Tourism, by far the largest industry, employs
one t
hird of the workforce and accounts for 40 per cent of gross domestic
product
.
The proposal, therefore, is to attract more visitors in the winter and in

the 'shoulder' months of spring and autumn, and at the same time to seek
tou
rists who will spend more per head than the package tour visitor staying
in 
a modest hotel or in self-catering accommodation.
'We need to give more atte
ntion to our heritage, history, architecture and
yachting facilities to cate
r for the better-off who will spend more in
Malta,' says Mr Soler. One sense
s a certain exasperation that the British
remain more reluctant than the Ger
mans and Italians to move from the
sun-and-sea stage of recreational evoluti
on.
The raw material for development is certainly there. The history and
arc
haeology of Malta and its sister island of Gozo are astonishingly varied
but
 largely undeveloped, probably because attention has been concentrated on
th
e sun and sea volume end of the market. There are open air neolithic
temples
 on Malta and Gozo, and the subterranean temple or hypogeum at Hal
Saflieni,
 which are reputed to be among the oldest architectural monuments
in existen
ce.
From later centuries there are many relics left by a succession of
conqu
erors including the Phoenicians, Carthaginians, Romans, Arabs and
Normans, l
eading in 1530 to one of the richest periods in Malta's history,
when Empero
r Charles V gave the islands to the Knights of St John after they
had been d
riven out of Jerusalem and then Rhodes.
The Knights of Malta constructed a w
ealth of fortifications, churches and
palaces in their 268-year rule, includ
ing Valletta, one of the world's great
fortified harbours. It became Malta's
 capital under the Knights, replacing
the wonderful 'silent city' of Mdina b
uilt by the Arabs.
Apart from the attractions of history, other high-spendin
g visitors are
being sought in off-peak months with special events including
 flower
festivals, historic pageants, music and jazz festivals, a boat show 
and
power boat racing.
The government has banned the building of new hotels 
except those in the
five-star category because of a surfeit of lower and mid
dle range
accommodation, and a big new yacht marina is being constructed. Th
ere is
also a proposal to transform the run-down Manoel Island in the centre
 of
Valletta's Grand Harbour into a tourist complex featuring hotels,
restau
rants, possibly another marina, upmarket shops and a theatre.
The tourism in
dustry has proved remarkably resilient during the recession in
Malta's chief
 markets, and despite the pressures caused by the growing
numbers of peak se
ason visitors, other aspects of the government's strategy
are making progres
s.
An example is the big emphasis on the UK market which in 1980 provided Ma
lta
with over 75 per cent of its tourists. This dependence was considered to
 be
commercially unhealthy, and efforts have been made to attract visitors f
rom
other countries, particularly Germany, Italy, France and Scandinavia. Th
ese
efforts have begun to work.
As the tourist market has expanded, the incr
ease in the number of visitors
from the UK has failed to keep pace. As a res
ult, the UK share has been
falling slowly but steadily for a number of years
 with the sole exception of
1992 when the Queen visted Malta to mark the 50t
h anniversary of the wartime
siege. The downward trend should continue as th
e forward currency rate for
British tour operators is phased out next year.

Last year, the UK represented 49 per cent of arrivals compared with 52 per
c
ent in 1992, and arrivals from continental Europe rose sharply, including
of
f-peak months. German tourists increased by 8.5 per cent and now represent
1
6 per cent of all arrivals, second only to the British. Arrivals from Italy

increased by over 12 per cent and should grow quickly following the
inaugura
tion of Air Malta flights to Milan.
The airline and the national tourist off
ice are to open an office in New
York to tap the lucrative US market which c
ould be attracted by the history,
climate and universal use of English. Howe
ver, a big handicap is that there
is no direct flight to Malta. One proposal
 is to link up with a big US
airline which would fly tourists to Europe from
 where Air Malta would
complete the journey at preferential rates.
The best 
news of all for the authorities last year was that the tactic of
trying to a
ttract more upmarket tourists appears to be succeeding after a
hesitant star
t. Per capita spending by visitors increased by a healthy 18
per cent, thank
s partly to increasing success in the cruise and conferences
market, Neverth
eless, package tours will continue to be Malta's tourist
staple for some tim
e to come.
</TEXT>
<XX>
Countries:-
</XX>
<CN>MTZ  Malta, West Europe.
</CN>

<XX>
Industries:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
    P9311 
Finance, Taxation, and Monetary Policy.
</IN>
<XX>
Types:-
</XX>
<TP>ECON  E
conomic Indicators.
    CMMT  Comment & Analysis.
</TP>
<PUB>The Financial T
imes </PUB>
<PAGE> London Page III </PAGE>
</DOC>

============= Transaction # 189 ==============================================
Transaction #:    189       Transaction Code:  22 (Record(s) Saved)        

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
                        Old Z39.50 Server ID:   0 (Astro/Math/Stat)        

Usr Interface:   Prob          Time Cmd Sent: 16:00:00
  Rec. Format:  Short      Time Cmd Complete: 16:34:34
Selec. Rec. #:     11

Boolean Indexes Used:

   0 Author         0 Date       0 Rectype    0 X_Corp Author    0 Call #
   0 Title          0 Language   0 X_Author   0 Uniform Title
   0 Subject        0 ISBN       0 X_Title    0 X_Subject
   0 Organization   0 LCCN       0 Topic      0 Host Item
   0 Series         0 ISSN       0 Keyword    0 Conf

Boolean Conjunctions:

   Button 1: and   Button 2: OR    Button 3: or 
      Used?: No       Used?: No       Used?: No 

   # Keywords:      0   Error Code:      0
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  # Displayed:      0      Help ID:      0

Associated Variable Length Text:

<DOC>
<DOCNO>FT941-8564</DOCNO>
<PROFILE>_AN-EBRCXAHEFT</PROFILE>
<DATE>9402
18
</DATE>
<HEADLINE> FT  18 FEB 94 / Survey of Malta (5): Tourism seeks mor
e five-star winners - The industry is trying to go upmarket </HEADLINE>
<BYL
INE>    By RICHARD EVANS </BYLINE>
<TEXT>
Malta is becoming increasingly ner
vous about its success in attracting ever
greater numbers of tourists, parti
cularly from the UK.
Though all tourists are welcome, fresh marketing tactic
s are being developed
and refined. While tourism is set to remain the island
's predominant
industry, the authorities are keen to change Malta's cheap su
n and sea image
and go more upmarket.
Two specific problems in the pattern o
f tourism are being addressed. The
first is the common phenomenon of the sha
rp tourist peak in July and August,
when the volume of visitors puts a great
 strain on services, and the second
is the continuing over-dependence on the
 UK for tourists. The latest
statistics show that the corrective campaigns a
re meeting with mixed
success.
Mr Michael Soler, chairman of Malta's nationa
l tourism organisation,
explains: 'Our focus has to change as we are going t
o reach our maximum
capacity soon. We will have to manage volume growth of t
ourists very
carefully.'
The figures tell the story. There was a slump in to
urism in the early to mid
1980s, caused partly by high prices, variable qual
ity and infrastructure
problems including water and electricity shortages, a
nd partly by an adverse
political climate as the Labour government courted t
he Libyans and eastern
bloc in a determined attempt to stay neutral and non-
aligned.
Costs were then pegged, infrastructure improvements launched, and a

differential exchange rate introduced for UK tour operators. Tourist number
s
rose steadily from 480,000 in 1984 to 746,000 in 1987, 828,000 in 1989 and

over 1m in 1992, three years ahead of target.
The upward trend continued la
st year despite difficult economic conditions
in most European markets, and 
the total reached 1,050,000, an all-time
record. But to the consternation of
 the authorities, arrivals in the peak
summer months were over 7 per cent up
 on the corresponding period of 1992.
It was not the trend they wanted.
A mo
re even flow of visitors throughout the year would lessen the strain on
serv
ices at peak times and create more permanent year-round employment in
hotels
 and the tourist sector. Tourism, by far the largest industry, employs
one t
hird of the workforce and accounts for 40 per cent of gross domestic
product
.
The proposal, therefore, is to attract more visitors in the winter and in

the 'shoulder' months of spring and autumn, and at the same time to seek
tou
rists who will spend more per head than the package tour visitor staying
in 
a modest hotel or in self-catering accommodation.
'We need to give more atte
ntion to our heritage, history, architecture and
yachting facilities to cate
r for the better-off who will spend more in
Malta,' says Mr Soler. One sense
s a certain exasperation that the British
remain more reluctant than the Ger
mans and Italians to move from the
sun-and-sea stage of recreational evoluti
on.
The raw material for development is certainly there. The history and
arc
haeology of Malta and its sister island of Gozo are astonishingly varied
but
 largely undeveloped, probably because attention has been concentrated on
th
e sun and sea volume end of the market. There are open air neolithic
temples
 on Malta and Gozo, and the subterranean temple or hypogeum at Hal
Saflieni,
 which are reputed to be among the oldest architectural monuments
in existen
ce.
From later centuries there are many relics left by a succession of
conqu
erors including the Phoenicians, Carthaginians, Romans, Arabs and
Normans, l
eading in 1530 to one of the richest periods in Malta's history,
when Empero
r Charles V gave the islands to the Knights of St John after they
had been d
riven out of Jerusalem and then Rhodes.
The Knights of Malta constructed a w
ealth of fortifications, churches and
palaces in their 268-year rule, includ
ing Valletta, one of the world's great
fortified harbours. It became Malta's
 capital under the Knights, replacing
the wonderful 'silent city' of Mdina b
uilt by the Arabs.
Apart from the attractions of history, other high-spendin
g visitors are
being sought in off-peak months with special events including
 flower
festivals, historic pageants, music and jazz festivals, a boat show 
and
power boat racing.
The government has banned the building of new hotels 
except those in the
five-star category because of a surfeit of lower and mid
dle range
accommodation, and a big new yacht marina is being constructed. Th
ere is
also a proposal to transform the run-down Manoel Island in the centre
 of
Valletta's Grand Harbour into a tourist complex featuring hotels,
restau
rants, possibly another marina, upmarket shops and a theatre.
The tourism in
dustry has proved remarkably resilient during the recession in
Malta's chief
 markets, and despite the pressures caused by the growing
numbers of peak se
ason visitors, other aspects of the government's strategy
are making progres
s.
An example is the big emphasis on the UK market which in 1980 provided Ma
lta
with over 75 per cent of its tourists. This dependence was considered to
 be
commercially unhealthy, and efforts have been made to attract visitors f
rom
other countries, particularly Germany, Italy, France and Scandinavia. Th
ese
efforts have begun to work.
As the tourist market has expanded, the incr
ease in the number of visitors
from the UK has failed to keep pace. As a res
ult, the UK share has been
falling slowly but steadily for a number of years
 with the sole exception of
1992 when the Queen visted Malta to mark the 50t
h anniversary of the wartime
siege. The downward trend should continue as th
e forward currency rate for
British tour operators is phased out next year.

Last year, the UK represented 49 per cent of arrivals compared with 52 per
c
ent in 1992, and arrivals from continental Europe rose sharply, including
of
f-peak months. German tourists increased by 8.5 per cent and now represent
1
6 per cent of all arrivals, second only to the British. Arrivals from Italy

increased by over 12 per cent and should grow quickly following the
inaugura
tion of Air Malta flights to Milan.
The airline and the national tourist off
ice are to open an office in New
York to tap the lucrative US market which c
ould be attracted by the history,
climate and universal use of English. Howe
ver, a big handicap is that there
is no direct flight to Malta. One proposal
 is to link up with a big US
airline which would fly tourists to Europe from
 where Air Malta would
complete the journey at preferential rates.
The best 
news of all for the authorities last year was that the tactic of
trying to a
ttract more upmarket tourists appears to be succeeding after a
hesitant star
t. Per capita spending by visitors increased by a healthy 18
per cent, thank
s partly to increasing success in the cruise and conferences
market, Neverth
eless, package tours will continue to be Malta's tourist
staple for some tim
e to come.
</TEXT>
<XX>
Countries:-
</XX>
<CN>MTZ  Malta, West Europe.
</CN>

<XX>
Industries:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
    P9311 
Finance, Taxation, and Monetary Policy.
</IN>
<XX>
Types:-
</XX>
<TP>ECON  E
conomic Indicators.
    CMMT  Comment & Analysis.
</TP>
<PUB>The Financial T
imes </PUB>
<PAGE> London Page III </PAGE>
</DOC>

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<DOC>
<DOCNO>FT934-4579</DOCNO>
<PROFILE>_AN-DLCDFABGFT</PROFILE>
<DATE>9312
03
</DATE>
<HEADLINE> FT  03 DEC 93 / World Trade News: Cruise ship lifeline
 for Cuban economy - Castro's latest attempt to attract dollars from tourism
 </HEADLINE>
<BYLINE>    By ROSIE HAYES and STEPHEN FIDLER </BYLINE>
<TEXT>

When the cruise ship Santiago de Cuba sails later this month from Havana, it

will underline the extent to which revolutionary fervour is giving way to
p
ragmatism as Cuba tries to adjust to economic hardship.
On board ship, there
 will be gambling - although it will not be allowed in
Cuban ports. The gove
rnment of President Fidel Castro is now accepting an
activity it banned when
 it closed Havana's notorious gambling parlours after
the 1959 revolution.
C
ompared with the previous policy shifts forced on the Cuban government by
th
e collapse of the Soviet Union and its financial support for Cuba, this is
s
mall. Among other things, the government has been aggressively pursuing
prev
iously unwelcome foreign investors and has legalised use of the
once-banned 
US dollar.
The cruise operation - a joint venture between the state-owned Ha
vanatur and
European interests, including the Italian ship agents Fratelli C
osulich - is
the latest attempt to attract tourist dollars to the country.
M
r Castro is now laying much emphasis on the promotion of tourism. He turned

up last month on the holiday island of Cayo Coco at a ceremonial signing of

a Spanish-Cuban joint venture and mingled with tourists, even at one stage
w
atching a dance performance in a discotheque. The joint venture involves
the
 Spanish group Guitart Hotels investing Dollars 20m (Pounds 13.4m) over
10 y
ears and the local Cubanacana SA contributing the equivalent in local
curren
cy.
He spoke of fighting the country's financial problems through tourism an
d
told Cubans to prepare for an influx of foreign visitors.
The president ha
s also heaped praise on Spain, probably the most important
source of foreign
 investment in the Cuban tourist industry, and has
described Spanish skill a
nd enterprise as a great advantage to the island.
He even told an audience o
f Havana Communist party delegates this month that
sugar was 'no longer the 
country's main economic source' and that the
tourist industry had developed 
to such an extent it was now 'Cuba's main
financial lifeline'.
The number of
 visitors to Cuba has increased from 289,000 in 1987 to 460,000
last year, a
nd is forecast to grow again this year. Visitors are also
spending more. Acc
ording to the government, daily spending rose to Dollars
67 a day in 1990 to
 Dollars 89 in 1992, and is predicted to increase to
Dollars 100 in 1995.
Bu
t there are doubts among external observers whether tourism is as
important 
as the government suggests. Mr Jorge Dominguez, a Harvard
professor and visi
ting fellow at the Washington-based study group
InterAmerican Dialogue, says
 that total foreign direct investment in Cuba is
an elusive figure, but prob
ably amounts to less than Dollars 1bn. 'That
means the claim that tourism is
 significant rests on its generation of
foreign exchange.'
Yet the foreign e
xchange earnings usually quoted by Cuban sources represent
gross, rather tha
n net earnings. A report produced in March by the Cuban
Grupo de Turismo sai
d that tourism generated Dollars 530m in gross
hard-currency receipts in 199
2 - four times the 1987 level - and directly
accounted for 62,000 jobs, 1.6 
per cent of total employment.
A report published in April by La Sociedad Eco
nomica, a moderate
London-based exile group which favours the country's tran
sformation to a
market economy, also points out that the policy of keeping t
ourists in
enclaves 'limits the market for locally-produced goods and servic
es, so
reducing the beneficial effect that tourism could generate in the wid
er
economy'.
The net hard-currency benefit is thus significantly less than t
he gross
receipts. Tourists have to be serviced by imports, such as Scotch w
hisky and
video cassettes. Sales commissions, tour operating profits, and av
iation
expenses must also be paid.
This suggests, says Mr Dominguez, the net
 annual hard currency gain to Cuba
is between Dollars 100m and Dollars 300m.

While this compares with the Dollars 220m earned in 1992 from nickel
export
s, it is still significantly less than its earnings from sugar
exports, even
 though they fell to their lowest level this year since 1963.
This year's ha
rvest of 4.2m tonnes would generate Dollars 800m-Dollars 900m
in export reve
nues.
'Tourism, as at present structured, offers only very limited relief to

Cuba's economic crisis,' argues La Sociedad Economica. This could change if

Americans were allowed to go to Cuba - but the end of the US embargo still

appears a long way off.
</TEXT>
<XX>
Companies:-
</XX>
<CO>Havanatur.
    Fr
atelli Cosulich.
    Guitart Hotels.
    Cubanacana.
</CO>
<XX>
Countries:-

</XX>
<CN>CUZ  Cuba, Caribbean.
    ITZ  Italy, EC.
    ESZ  Spain, EC.
</CN
>
<XX>
Industries:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
    P7011
 Hotels and Motels.
    P4481 Deep Sea Passenger Transportation, Ex Ferry.
<
/IN>
<XX>
Types:-
</XX>
<TP>COMP  Strategic links & Joint venture.
    CMMT 
 Comment & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Pag
e 6 </PAGE>
</DOC>

============= Transaction # 192 ==============================================
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<DOCNO>FT934-4579</DOCNO>
<PROFILE>_AN-DLCDFABGFT</PROFILE>
<DATE>9312
03
</DATE>
<HEADLINE> FT  03 DEC 93 / World Trade News: Cruise ship lifeline
 for Cuban economy - Castro's latest attempt to attract dollars from tourism
 </HEADLINE>
<BYLINE>    By ROSIE HAYES and STEPHEN FIDLER </BYLINE>
<TEXT>

When the cruise ship Santiago de Cuba sails later this month from Havana, it

will underline the extent to which revolutionary fervour is giving way to
p
ragmatism as Cuba tries to adjust to economic hardship.
On board ship, there
 will be gambling - although it will not be allowed in
Cuban ports. The gove
rnment of President Fidel Castro is now accepting an
activity it banned when
 it closed Havana's notorious gambling parlours after
the 1959 revolution.
C
ompared with the previous policy shifts forced on the Cuban government by
th
e collapse of the Soviet Union and its financial support for Cuba, this is
s
mall. Among other things, the government has been aggressively pursuing
prev
iously unwelcome foreign investors and has legalised use of the
once-banned 
US dollar.
The cruise operation - a joint venture between the state-owned Ha
vanatur and
European interests, including the Italian ship agents Fratelli C
osulich - is
the latest attempt to attract tourist dollars to the country.
M
r Castro is now laying much emphasis on the promotion of tourism. He turned

up last month on the holiday island of Cayo Coco at a ceremonial signing of

a Spanish-Cuban joint venture and mingled with tourists, even at one stage
w
atching a dance performance in a discotheque. The joint venture involves
the
 Spanish group Guitart Hotels investing Dollars 20m (Pounds 13.4m) over
10 y
ears and the local Cubanacana SA contributing the equivalent in local
curren
cy.
He spoke of fighting the country's financial problems through tourism an
d
told Cubans to prepare for an influx of foreign visitors.
The president ha
s also heaped praise on Spain, probably the most important
source of foreign
 investment in the Cuban tourist industry, and has
described Spanish skill a
nd enterprise as a great advantage to the island.
He even told an audience o
f Havana Communist party delegates this month that
sugar was 'no longer the 
country's main economic source' and that the
tourist industry had developed 
to such an extent it was now 'Cuba's main
financial lifeline'.
The number of
 visitors to Cuba has increased from 289,000 in 1987 to 460,000
last year, a
nd is forecast to grow again this year. Visitors are also
spending more. Acc
ording to the government, daily spending rose to Dollars
67 a day in 1990 to
 Dollars 89 in 1992, and is predicted to increase to
Dollars 100 in 1995.
Bu
t there are doubts among external observers whether tourism is as
important 
as the government suggests. Mr Jorge Dominguez, a Harvard
professor and visi
ting fellow at the Washington-based study group
InterAmerican Dialogue, says
 that total foreign direct investment in Cuba is
an elusive figure, but prob
ably amounts to less than Dollars 1bn. 'That
means the claim that tourism is
 significant rests on its generation of
foreign exchange.'
Yet the foreign e
xchange earnings usually quoted by Cuban sources represent
gross, rather tha
n net earnings. A report produced in March by the Cuban
Grupo de Turismo sai
d that tourism generated Dollars 530m in gross
hard-currency receipts in 199
2 - four times the 1987 level - and directly
accounted for 62,000 jobs, 1.6 
per cent of total employment.
A report published in April by La Sociedad Eco
nomica, a moderate
London-based exile group which favours the country's tran
sformation to a
market economy, also points out that the policy of keeping t
ourists in
enclaves 'limits the market for locally-produced goods and servic
es, so
reducing the beneficial effect that tourism could generate in the wid
er
economy'.
The net hard-currency benefit is thus significantly less than t
he gross
receipts. Tourists have to be serviced by imports, such as Scotch w
hisky and
video cassettes. Sales commissions, tour operating profits, and av
iation
expenses must also be paid.
This suggests, says Mr Dominguez, the net
 annual hard currency gain to Cuba
is between Dollars 100m and Dollars 300m.

While this compares with the Dollars 220m earned in 1992 from nickel
export
s, it is still significantly less than its earnings from sugar
exports, even
 though they fell to their lowest level this year since 1963.
This year's ha
rvest of 4.2m tonnes would generate Dollars 800m-Dollars 900m
in export reve
nues.
'Tourism, as at present structured, offers only very limited relief to

Cuba's economic crisis,' argues La Sociedad Economica. This could change if

Americans were allowed to go to Cuba - but the end of the US embargo still

appears a long way off.
</TEXT>
<XX>
Companies:-
</XX>
<CO>Havanatur.
    Fr
atelli Cosulich.
    Guitart Hotels.
    Cubanacana.
</CO>
<XX>
Countries:-

</XX>
<CN>CUZ  Cuba, Caribbean.
    ITZ  Italy, EC.
    ESZ  Spain, EC.
</CN
>
<XX>
Industries:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
    P7011
 Hotels and Motels.
    P4481 Deep Sea Passenger Transportation, Ex Ferry.
<
/IN>
<XX>
Types:-
</XX>
<TP>COMP  Strategic links & Joint venture.
    CMMT 
 Comment & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Pag
e 6 </PAGE>
</DOC>

============= Transaction # 193 ==============================================
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<DOC>
<DOCNO>FT934-4579</DOCNO>
<PROFILE>_AN-DLCDFABGFT</PROFILE>
<DATE>9312
03
</DATE>
<HEADLINE> FT  03 DEC 93 / World Trade News: Cruise ship lifeline
 for Cuban economy - Castro's latest attempt to attract dollars from tourism
 </HEADLINE>
<BYLINE>    By ROSIE HAYES and STEPHEN FIDLER </BYLINE>
<TEXT>

When the cruise ship Santiago de Cuba sails later this month from Havana, it

will underline the extent to which revolutionary fervour is giving way to
p
ragmatism as Cuba tries to adjust to economic hardship.
On board ship, there
 will be gambling - although it will not be allowed in
Cuban ports. The gove
rnment of President Fidel Castro is now accepting an
activity it banned when
 it closed Havana's notorious gambling parlours after
the 1959 revolution.
C
ompared with the previous policy shifts forced on the Cuban government by
th
e collapse of the Soviet Union and its financial support for Cuba, this is
s
mall. Among other things, the government has been aggressively pursuing
prev
iously unwelcome foreign investors and has legalised use of the
once-banned 
US dollar.
The cruise operation - a joint venture between the state-owned Ha
vanatur and
European interests, including the Italian ship agents Fratelli C
osulich - is
the latest attempt to attract tourist dollars to the country.
M
r Castro is now laying much emphasis on the promotion of tourism. He turned

up last month on the holiday island of Cayo Coco at a ceremonial signing of

a Spanish-Cuban joint venture and mingled with tourists, even at one stage
w
atching a dance performance in a discotheque. The joint venture involves
the
 Spanish group Guitart Hotels investing Dollars 20m (Pounds 13.4m) over
10 y
ears and the local Cubanacana SA contributing the equivalent in local
curren
cy.
He spoke of fighting the country's financial problems through tourism an
d
told Cubans to prepare for an influx of foreign visitors.
The president ha
s also heaped praise on Spain, probably the most important
source of foreign
 investment in the Cuban tourist industry, and has
described Spanish skill a
nd enterprise as a great advantage to the island.
He even told an audience o
f Havana Communist party delegates this month that
sugar was 'no longer the 
country's main economic source' and that the
tourist industry had developed 
to such an extent it was now 'Cuba's main
financial lifeline'.
The number of
 visitors to Cuba has increased from 289,000 in 1987 to 460,000
last year, a
nd is forecast to grow again this year. Visitors are also
spending more. Acc
ording to the government, daily spending rose to Dollars
67 a day in 1990 to
 Dollars 89 in 1992, and is predicted to increase to
Dollars 100 in 1995.
Bu
t there are doubts among external observers whether tourism is as
important 
as the government suggests. Mr Jorge Dominguez, a Harvard
professor and visi
ting fellow at the Washington-based study group
InterAmerican Dialogue, says
 that total foreign direct investment in Cuba is
an elusive figure, but prob
ably amounts to less than Dollars 1bn. 'That
means the claim that tourism is
 significant rests on its generation of
foreign exchange.'
Yet the foreign e
xchange earnings usually quoted by Cuban sources represent
gross, rather tha
n net earnings. A report produced in March by the Cuban
Grupo de Turismo sai
d that tourism generated Dollars 530m in gross
hard-currency receipts in 199
2 - four times the 1987 level - and directly
accounted for 62,000 jobs, 1.6 
per cent of total employment.
A report published in April by La Sociedad Eco
nomica, a moderate
London-based exile group which favours the country's tran
sformation to a
market economy, also points out that the policy of keeping t
ourists in
enclaves 'limits the market for locally-produced goods and servic
es, so
reducing the beneficial effect that tourism could generate in the wid
er
economy'.
The net hard-currency benefit is thus significantly less than t
he gross
receipts. Tourists have to be serviced by imports, such as Scotch w
hisky and
video cassettes. Sales commissions, tour operating profits, and av
iation
expenses must also be paid.
This suggests, says Mr Dominguez, the net
 annual hard currency gain to Cuba
is between Dollars 100m and Dollars 300m.

While this compares with the Dollars 220m earned in 1992 from nickel
export
s, it is still significantly less than its earnings from sugar
exports, even
 though they fell to their lowest level this year since 1963.
This year's ha
rvest of 4.2m tonnes would generate Dollars 800m-Dollars 900m
in export reve
nues.
'Tourism, as at present structured, offers only very limited relief to

Cuba's economic crisis,' argues La Sociedad Economica. This could change if

Americans were allowed to go to Cuba - but the end of the US embargo still

appears a long way off.
</TEXT>
<XX>
Companies:-
</XX>
<CO>Havanatur.
    Fr
atelli Cosulich.
    Guitart Hotels.
    Cubanacana.
</CO>
<XX>
Countries:-

</XX>
<CN>CUZ  Cuba, Caribbean.
    ITZ  Italy, EC.
    ESZ  Spain, EC.
</CN
>
<XX>
Industries:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
    P7011
 Hotels and Motels.
    P4481 Deep Sea Passenger Transportation, Ex Ferry.
<
/IN>
<XX>
Types:-
</XX>
<TP>COMP  Strategic links & Joint venture.
    CMMT 
 Comment & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Pag
e 6 </PAGE>
</DOC>

============= Transaction # 194 ==============================================
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<DOC>
<DOCNO>FT932-11167</DOCNO>
<PROFILE>_AN-DEECIAGJFT</PROFILE>
<DATE>930
505
</DATE>
<HEADLINE> FT  05 MAY 93 / Survey of Bulgaria (11): A new image 
for tourism - Privatisation may spur more upmarket visitors </HEADLINE>
<BYL
INE>    By THEODOR TROEV </BYLINE>
<TEXT>
BULGARIA'S privatisation agency ha
s just been presented with a plan to
upgrade the country's tourist industry 
through privatisation and foreign
investment. 'We are targeting some 500 pot
ential western investors, and over
50 of them are already showing interest i
n the privatisation of our tourism
industry,' says Mr Yaroslav Karaboikov, s
enior expert at the privatisation
agency's tourism division.
The plan calls 
for the privatisation of 30 companies, including Black Sea
resorts, hotels, 
tour operators and other travel-related firms, by the end
of the year. Commi
ttee of Tourism officials say that most of the currently
existing 150 state 
companies in the sector should be privatised by 1998.
The hope is that priva
tisation will help Bulgaria's tourist industry improve
its quality of servic
e and target more upmarket visitors. Under communism,
the country was forced
 into the lower end of the mass tourism market: cheap
package holidays in bl
ock-like hotels along the sandy Black Sea coast. Most
of the 2m tourists a y
ear came from the former eastern bloc countries.
In 1989, tourists from east
ern Europe accounted for 63 per cent of all
holiday makers in Bulgaria. Last
 year their numbers dropped to 18 per cent.
They have been partially replace
d by an influx of western tourists, a trend
which should encourage foreign i
nvestment.
A list of potential western buyers is appended to a programme dev
eloped by a
team of international consultants Arthur Andersen. Last July the
 consultants
won an EC Phare programme tender to advise the government on pr
ivatisation.
They used as a starting point a study of Bulgaria's tourism sec
tor funded by
the British Know How Fund and completed by the UK group Horwat
h Consulting
last August.
According to Horwath, the future of Bulgarian tour
ism lies in the
development of specialised package tours, catering for those
 interested in
history, religion, arts, archit - ecture, rural tourism and h
unting. The
country has much more to offer than cheap summer seaside or wint
er skiing
packages. It boasts a wealth of Thracian, Roman and Byzantine rema
ins,
monasteries and mosques as well as extensive woodlands and mountains.
T
he report also recommended developing religious heritage trails, converting

former monasteries to hotels, and restoring a royal train. It identified
oth
er opportunities in conference travel, spa treatment and ecological
tourism.
 Casinos, roadside tourism and holiday villages emerged as other
attractive 
targets.
Horwath emphasised the need for speedy privatisation. Though some 3
,000 of
the country's 3,150 tourism-related companies are private, they acco
unt for
only 10 per cent of the total turnover. Obstacles to foreign investm
ent
include unclear ownership due to the restitution of property to its form
er
owners, and ambiguous legislation. The Committee of Tourism is expected t
o
submit a Tourism Bill to the government later this month.
Arthur Andersen'
s privatisation strategy mainly targets big western
investors. But the Commi
ttee of Tourism and the Privatisation Agency have
also considered proposals 
put forward by Bulgarian consultants such as
Intertourist-consult, Deni and 
Triada Consulting.
Meanwhile Balkan Holidays and Balkantourist, the country'
s main tour
operators, report steady demand from Germany, Britain, Austria, 
the
Netherlands, and the Scandinavian countries. Bulgaria's tranquil Black S
ea
coast offers an alternative to Croatian coast resorts that have been clos
ed
because of the fighting in former Yugoslavia.
'We had a successful winter
 season, and most of the summer vacations that we
offer have also been booke
d,' says Mr Ognian Avgarski, president of Balkan
Holidays International. 'Th
is year we expect to bring over 150,000 western
tourists through our compani
es in 17 countries.'
Balkan Holidays is also working on a privatisation plan
, but is taking a
cautious approach. Mr Avgarski believes a management buyou
t might be a
better option than allowing western tour operators to obtain a 
majority
stake.
</TEXT>
<XX>
Countries:-
</XX>
<CN>BGZ  Bulgaria, East Europ
e.
</CN>
<XX>
Industries:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
  
  P9611 Administration of General Economic Programs.
    P7011 Hotels and Mo
tels.
    P4725 Tour Operators.
</IN>
<XX>
Types:-
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<TP>CMMT  Comment &
 Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 32 </PAG
E>
</DOC>

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<DOC>
<DOCNO>FT944-1609</DOCNO>
<PROFILE>_AN-ELSDLAFKFT</PROFILE>
<DATE>9412
19
</DATE>
<HEADLINE> FT  19 DEC 94 / Survey of Sweden (7): Growing rapidly 
- Tourism </HEADLINE>
<BYLINE>    By KAREN FOSSLI </BYLINE>
<TEXT>
Tourism i
s one of Sweden's fastest-growing sectors and, although the trade
is relativ
ely young, ranks as the country's third-largest industry,
generating annual 
turnover of an estimated SKr98bn of which SKr21bn is
derived from foreign to
urists.
The attraction of Sweden has to be, among many things, the country's

unspoilt environment and alluring scenery comprising 60,000 islands, 90,000

lakes, a 4,725-mile coastline and endless forests. There are also 350
museu
ms in the country and a wide variety of special events throughout the
year.

The tourist industry peaked in 1989 when turnover hit SKr100bn, but
nose-div
ed by nearly SKr80bn during 1990-91 when the then Social Democratic
governme
nt led by Mr Ingvar Carlsson, increased value added tax on tourism
to 25 per
 cent in two stages.
The VAT increase coincided with the onset of the deepes
t recession to hit
Sweden since the second world war. But the industry recov
ered during 1991-93
after a new conservative Moderate government, led by Mr 
Carl Bildt,
reorganised the marketing of tourism and cut VAT to 12 per cent.

These factors were aided by the start of a recovery in the economy which
be
gan at the end of 1993.
Nevertheless, even after the rate cut, Sweden's VAT 
remains significantly
higher than the European average. The Swedes argue vig
orously that prices in
their country have become competitive with the rest o
f Europe while a main
priority of marketing seeks to dispel 'the myth' that 
Sweden is far too
expensive to be considered a holiday destination by more t
han just the
elite.
'Surveys show that many foreigners still believe that Sw
eden is too
expensive. Heavy resources are therefore being invested in marke
ting Sweden
abroad,' the Swedish Trade Council said in its 1994 annual repor
t on the
country.
In the first nine months of this year, the number of overn
ight stays in
Swedish hotels by foreigners rose 13 per cent compared with th
e year-earlier
period, and industry executives are predicting that 1994 will
 be a record
year in terms of growth. Last year, foreigners' overnight stays
 alone
reached 6.1m.
During the first nine months of 1994, Dutch and Danish 
tourists accounted
for the highest growth rate in overnight stays in percent
age terms, rising
respectively 25 per cent and 26 per cent while US visitors
 rose by 14 per
cent.
German tourists, the largest group of foreign visitors
 to Sweden, increased
their overnight stays by 13 per cent and UK tourists 1
1 per cent.
Another indication of the strength of this year's activity is a 
forecast
rise in the number of cruise ship passengers calling on Stockholm a
lone. It
is estimated that international cruise ships will make 125 visits t
o the
capital city this year, carrying a total of 70,000 passengers, represe
nting
an increase of 10,000 passengers over 1993.
Mr Per-Johann Orrby, presi
dent of Next Stop Sweden (NSS), the Swedish Travel
and Tourist Council, attr
ibutes the rise in tourism's fortunes partly to
Sweden's attractive prices -
 in foreign currency terms - since the krona was
devalued by nearly 30 per c
ent in 1992. The reduction of VAT and a slight
recovery of the economy are a
lso considered significant.
NSS reckons that sterling buys 15 per cent more 
in Sweden since the
devaluation, while the purchasing power of the US dollar
 has risen 18 per
cent and the German mark 30 per cent.
But the Swedes proba
bly also have their next-door Nordic neighbours to thank
for foreign interes
t, following Norway's success in arranging the Winter
Olympics earlier this 
year.
For more than two weeks in February, hours and hours of pristine, sunl
it
'Scandinavian' winter images were broadcast worldwide from Lillehammer in

Norway. Such coverage undoubtedly had a spill-over affect for Sweden and
mu
st have improved the country's standing as a tourist destination.
The Olympi
cs boosted Norway's tourist industry by as much as 5 per cent this
year but 
it would be difficult to quantify the effect it had on Swedish
tourism.
Acco
rding to Mr Jan Brannstrom, managing director of Image Sweden, the
state-bac
ked agency which promotes Sweden internationally, recent studies
revealed th
at about half the foreign tourists visiting Sweden do so as part
of a Scandi
navian tour. But, he said, there were no plans for a joint
Scandinavian tour
ism marketing effort and, in the long-run, he saw few, if
any, benefits from
 such a scheme.
Another important factor which has undoubtedly lifted the aw
areness of
Sweden abroad is the apparent success of the big overhaul of the

organisational structure of marketing services for tourism. The Swedish
Tour
ist Board was dismantled and Image Sweden established together with NSS.
Ima
ge Sweden purchases marketing services from NSS for an estimated NKr60m
annu
ally.
</TEXT>
<XX>
Countries:-
</XX>
<CN>SEZ  Sweden, West Europe.
</CN>
<XX
>
Industries:-
</XX>
<IN>P9611 Administration of General Economic Programs.

</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment & Analysis.
</TP>
<PUB>The Financ
ial Times </PUB>
<PAGE> London Page IV </PAGE>
</DOC>

============= Transaction # 196 ==============================================
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<DOC>
<DOCNO>FT932-5695</DOCNO>
<PROFILE>_AN-DFBBWAFPFT</PROFILE>
<DATE>9306
02
</DATE>
<HEADLINE> FT  02 JUN 93 / Survey of Shanghai (9): Grand plans fo
r a revival - Tourism </HEADLINE>
<BYLINE>    By TONY WALKER </BYLINE>
<TEXT
>
Shanghai may have seen better days, but for many tourists this matters
lit
tle. They have come for a faint whiff of the city's chequered history
before
 it is swept away by a plastic wave of karaoke bars, characterless
hotels, d
iscotheques, nightclubs, entertainment centres, revolving
restaurants and Am
erican-style fast food outlets.
The Shanghai authorities have grand plans to
 revive the city as a magnet for
tourists. These plans perhaps owe less to p
reserving what was good about the
past than to mimicking what has worked els
ewhere on the Pacific rim. Prepare
for a Shanghai Disneyland]
In the end wha
t will matter most is money. Shanghai tourism officials make
no secret of th
e role which tourism can play in the city's modernisation.
'Tourism is one o
f the pillars of Shanghai's tertiary industry and economy,'
says Mr Dao Shu 
Ming, director of the Municipal Tourism Administration.
'Our economic plan p
uts the tertiary sector first, and tertiary industry
includes tourism, finan
ce and trade, and also real estate.'
Tourism is already one of the engines o
f Shanghai's recovery, an employer of
100,000 people and an indirect contrib
utor to the livelihood of thousands
more.
Figures speak for themselves. In 1
992, the city received 1,253,000 visitors
from abroad, an increase of 27.6 p
er cent over the previous year.
Direct revenue from tourism showed an even m
ore spectacular leap, reaching
Dollars 580m, up by 107 per cent on 1991, ref
lecting the impact of a number
of newly opened luxury hotels.
Mr Dao expects
 that tourism to grow by about 14 per cent a year, with direct
revenues reac
hing about Dollars 1bn at the end of the current five-year plan
in 1995. Thi
s will form about 20 per cent of China's projected total
receipts from forei
gn tourism in mid-decade.
He also forecast that by the year 2000 China would
 be earning about Dollars
10bn a year from tourism (excludings domestic tour
ism which is also
booming). Shanghai's contribution would be about half of t
he national total.
While this is quite ambitious, there is no doubt that Sha
nghai will gain
mass tourism appeal by the end of the decade.
Among projects
 are:
a Dollars 2bn scheme to develop a giant entertainment centre on the ea
st
bank of the Huangpu river to be known as 'Fudu World'.
Overseas Chinese f
rom Thailand are involved in this joint venture which will
comprise the bigg
est nightclub in Asia and other attractions, including a
Chinese theme park.

the Dollars 2bn transformation of 12 square kilometre Hengsha island at the

mouth of the Yangtze into a tourism resort with three or four golf courses,

hotels and nightclubs.
construction of at least two more golf courses in th
e Shanghai area as an
attraction for Japanese and other Asian tourists who c
omprise the bulk of
the city's visitors.
construction (already under way) of
 a 400 metre television tower, the
tallest in Asia, which will give sweeping
 views of Shanghai itself and the
Yangtze river delta.
re-development of the
 city centre to revitalise Shanghai's commercial hub as
a further lure for t
ourists. Several smart joint venture department stores,
funded by wealthy Sh
anghai emigres, have recently opened their doors on
Nanking Road.
Mr Dao is 
confident that Shanghai will have the hotels to handle the
expected wave of 
tourists.
The city's 93 hotels, including seven five-star establishments, of
fer 24,600
rooms; more hotels are on the way.
Occupancy in 1992 reached 72 p
er cent. This year, occupancy rates have been
averaging nearly 80 per cent.

If there is a serious drag on the development of tourism it lies in
Shanghai
's decaying infrastructure and somewhat limited airport facilities.
Flights 
into Shanghai are heavily overbooked and the airport itself is
poorly equipp
ed; although efforts are being made speedily to upgrade
facilities and provi
de additional flights.
Shanghai is the base for two airlines - Eastern and S
hanghai Airlines - as
part of China's plan to decentralise its airline indus
try and introduce a
modicum of state-sponsored competition. Eastern now has 
69 aircraft,
including the Airbus, and is extending its network to include S
ingapore,
Bangkok and Seoul.
Among other projects aimed at enhancing Shangha
i's tourism are two
'superhighways'': one south to scenic Hanghzhou, the cap
ital of Zhejiang
province, and the other west to Nanjing, capital of Jiangsu
.
These motorways will reduce pressures on Shanghai itself by allowing the
q
uick movement of tourists back and forth to other important regional
centres
.
Mr Dao is confident that well before the end of this decade infrastructure

problems, such as inadequate roads and rail systems, will be solved.
'As fa
r as infrastructure is concerned, we describe this period as the
darkness be
fore the dawn,' he said.
</TEXT>
<XX>
Countries:-
</XX>
<CN>CNZ  China, Asia
.
</CN>
<XX>
Industries:-
</XX>
<IN>P6552 Subdividers and Developers, Ex Cem
eteries.
    P7999 Amusement and Recreation, NEC.
    P9532 Urban and Commun
ity Development.
</IN>
<XX>
Types:-
</XX>
<TP>RES  Capital expenditures.
   
 CMMT  Comment & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> Lond
on Page 33 </PAGE>
</DOC>

============= Transaction # 197 ==============================================
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<DOC>
<DOCNO>FT932-5695</DOCNO>
<PROFILE>_AN-DFBBWAFPFT</PROFILE>
<DATE>9306
02
</DATE>
<HEADLINE> FT  02 JUN 93 / Survey of Shanghai (9): Grand plans fo
r a revival - Tourism </HEADLINE>
<BYLINE>    By TONY WALKER </BYLINE>
<TEXT
>
Shanghai may have seen better days, but for many tourists this matters
lit
tle. They have come for a faint whiff of the city's chequered history
before
 it is swept away by a plastic wave of karaoke bars, characterless
hotels, d
iscotheques, nightclubs, entertainment centres, revolving
restaurants and Am
erican-style fast food outlets.
The Shanghai authorities have grand plans to
 revive the city as a magnet for
tourists. These plans perhaps owe less to p
reserving what was good about the
past than to mimicking what has worked els
ewhere on the Pacific rim. Prepare
for a Shanghai Disneyland]
In the end wha
t will matter most is money. Shanghai tourism officials make
no secret of th
e role which tourism can play in the city's modernisation.
'Tourism is one o
f the pillars of Shanghai's tertiary industry and economy,'
says Mr Dao Shu 
Ming, director of the Municipal Tourism Administration.
'Our economic plan p
uts the tertiary sector first, and tertiary industry
includes tourism, finan
ce and trade, and also real estate.'
Tourism is already one of the engines o
f Shanghai's recovery, an employer of
100,000 people and an indirect contrib
utor to the livelihood of thousands
more.
Figures speak for themselves. In 1
992, the city received 1,253,000 visitors
from abroad, an increase of 27.6 p
er cent over the previous year.
Direct revenue from tourism showed an even m
ore spectacular leap, reaching
Dollars 580m, up by 107 per cent on 1991, ref
lecting the impact of a number
of newly opened luxury hotels.
Mr Dao expects
 that tourism to grow by about 14 per cent a year, with direct
revenues reac
hing about Dollars 1bn at the end of the current five-year plan
in 1995. Thi
s will form about 20 per cent of China's projected total
receipts from forei
gn tourism in mid-decade.
He also forecast that by the year 2000 China would
 be earning about Dollars
10bn a year from tourism (excludings domestic tour
ism which is also
booming). Shanghai's contribution would be about half of t
he national total.
While this is quite ambitious, there is no doubt that Sha
nghai will gain
mass tourism appeal by the end of the decade.
Among projects
 are:
a Dollars 2bn scheme to develop a giant entertainment centre on the ea
st
bank of the Huangpu river to be known as 'Fudu World'.
Overseas Chinese f
rom Thailand are involved in this joint venture which will
comprise the bigg
est nightclub in Asia and other attractions, including a
Chinese theme park.

the Dollars 2bn transformation of 12 square kilometre Hengsha island at the

mouth of the Yangtze into a tourism resort with three or four golf courses,

hotels and nightclubs.
construction of at least two more golf courses in th
e Shanghai area as an
attraction for Japanese and other Asian tourists who c
omprise the bulk of
the city's visitors.
construction (already under way) of
 a 400 metre television tower, the
tallest in Asia, which will give sweeping
 views of Shanghai itself and the
Yangtze river delta.
re-development of the
 city centre to revitalise Shanghai's commercial hub as
a further lure for t
ourists. Several smart joint venture department stores,
funded by wealthy Sh
anghai emigres, have recently opened their doors on
Nanking Road.
Mr Dao is 
confident that Shanghai will have the hotels to handle the
expected wave of 
tourists.
The city's 93 hotels, including seven five-star establishments, of
fer 24,600
rooms; more hotels are on the way.
Occupancy in 1992 reached 72 p
er cent. This year, occupancy rates have been
averaging nearly 80 per cent.

If there is a serious drag on the development of tourism it lies in
Shanghai
's decaying infrastructure and somewhat limited airport facilities.
Flights 
into Shanghai are heavily overbooked and the airport itself is
poorly equipp
ed; although efforts are being made speedily to upgrade
facilities and provi
de additional flights.
Shanghai is the base for two airlines - Eastern and S
hanghai Airlines - as
part of China's plan to decentralise its airline indus
try and introduce a
modicum of state-sponsored competition. Eastern now has 
69 aircraft,
including the Airbus, and is extending its network to include S
ingapore,
Bangkok and Seoul.
Among other projects aimed at enhancing Shangha
i's tourism are two
'superhighways'': one south to scenic Hanghzhou, the cap
ital of Zhejiang
province, and the other west to Nanjing, capital of Jiangsu
.
These motorways will reduce pressures on Shanghai itself by allowing the
q
uick movement of tourists back and forth to other important regional
centres
.
Mr Dao is confident that well before the end of this decade infrastructure

problems, such as inadequate roads and rail systems, will be solved.
'As fa
r as infrastructure is concerned, we describe this period as the
darkness be
fore the dawn,' he said.
</TEXT>
<XX>
Countries:-
</XX>
<CN>CNZ  China, Asia
.
</CN>
<XX>
Industries:-
</XX>
<IN>P6552 Subdividers and Developers, Ex Cem
eteries.
    P7999 Amusement and Recreation, NEC.
    P9532 Urban and Commun
ity Development.
</IN>
<XX>
Types:-
</XX>
<TP>RES  Capital expenditures.
   
 CMMT  Comment & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> Lond
on Page 33 </PAGE>
</DOC>

============= Transaction # 198 ==============================================
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<DOC>
<DOCNO>FT932-5695</DOCNO>
<PROFILE>_AN-DFBBWAFPFT</PROFILE>
<DATE>9306
02
</DATE>
<HEADLINE> FT  02 JUN 93 / Survey of Shanghai (9): Grand plans fo
r a revival - Tourism </HEADLINE>
<BYLINE>    By TONY WALKER </BYLINE>
<TEXT
>
Shanghai may have seen better days, but for many tourists this matters
lit
tle. They have come for a faint whiff of the city's chequered history
before
 it is swept away by a plastic wave of karaoke bars, characterless
hotels, d
iscotheques, nightclubs, entertainment centres, revolving
restaurants and Am
erican-style fast food outlets.
The Shanghai authorities have grand plans to
 revive the city as a magnet for
tourists. These plans perhaps owe less to p
reserving what was good about the
past than to mimicking what has worked els
ewhere on the Pacific rim. Prepare
for a Shanghai Disneyland]
In the end wha
t will matter most is money. Shanghai tourism officials make
no secret of th
e role which tourism can play in the city's modernisation.
'Tourism is one o
f the pillars of Shanghai's tertiary industry and economy,'
says Mr Dao Shu 
Ming, director of the Municipal Tourism Administration.
'Our economic plan p
uts the tertiary sector first, and tertiary industry
includes tourism, finan
ce and trade, and also real estate.'
Tourism is already one of the engines o
f Shanghai's recovery, an employer of
100,000 people and an indirect contrib
utor to the livelihood of thousands
more.
Figures speak for themselves. In 1
992, the city received 1,253,000 visitors
from abroad, an increase of 27.6 p
er cent over the previous year.
Direct revenue from tourism showed an even m
ore spectacular leap, reaching
Dollars 580m, up by 107 per cent on 1991, ref
lecting the impact of a number
of newly opened luxury hotels.
Mr Dao expects
 that tourism to grow by about 14 per cent a year, with direct
revenues reac
hing about Dollars 1bn at the end of the current five-year plan
in 1995. Thi
s will form about 20 per cent of China's projected total
receipts from forei
gn tourism in mid-decade.
He also forecast that by the year 2000 China would
 be earning about Dollars
10bn a year from tourism (excludings domestic tour
ism which is also
booming). Shanghai's contribution would be about half of t
he national total.
While this is quite ambitious, there is no doubt that Sha
nghai will gain
mass tourism appeal by the end of the decade.
Among projects
 are:
a Dollars 2bn scheme to develop a giant entertainment centre on the ea
st
bank of the Huangpu river to be known as 'Fudu World'.
Overseas Chinese f
rom Thailand are involved in this joint venture which will
comprise the bigg
est nightclub in Asia and other attractions, including a
Chinese theme park.

the Dollars 2bn transformation of 12 square kilometre Hengsha island at the

mouth of the Yangtze into a tourism resort with three or four golf courses,

hotels and nightclubs.
construction of at least two more golf courses in th
e Shanghai area as an
attraction for Japanese and other Asian tourists who c
omprise the bulk of
the city's visitors.
construction (already under way) of
 a 400 metre television tower, the
tallest in Asia, which will give sweeping
 views of Shanghai itself and the
Yangtze river delta.
re-development of the
 city centre to revitalise Shanghai's commercial hub as
a further lure for t
ourists. Several smart joint venture department stores,
funded by wealthy Sh
anghai emigres, have recently opened their doors on
Nanking Road.
Mr Dao is 
confident that Shanghai will have the hotels to handle the
expected wave of 
tourists.
The city's 93 hotels, including seven five-star establishments, of
fer 24,600
rooms; more hotels are on the way.
Occupancy in 1992 reached 72 p
er cent. This year, occupancy rates have been
averaging nearly 80 per cent.

If there is a serious drag on the development of tourism it lies in
Shanghai
's decaying infrastructure and somewhat limited airport facilities.
Flights 
into Shanghai are heavily overbooked and the airport itself is
poorly equipp
ed; although efforts are being made speedily to upgrade
facilities and provi
de additional flights.
Shanghai is the base for two airlines - Eastern and S
hanghai Airlines - as
part of China's plan to decentralise its airline indus
try and introduce a
modicum of state-sponsored competition. Eastern now has 
69 aircraft,
including the Airbus, and is extending its network to include S
ingapore,
Bangkok and Seoul.
Among other projects aimed at enhancing Shangha
i's tourism are two
'superhighways'': one south to scenic Hanghzhou, the cap
ital of Zhejiang
province, and the other west to Nanjing, capital of Jiangsu
.
These motorways will reduce pressures on Shanghai itself by allowing the
q
uick movement of tourists back and forth to other important regional
centres
.
Mr Dao is confident that well before the end of this decade infrastructure

problems, such as inadequate roads and rail systems, will be solved.
'As fa
r as infrastructure is concerned, we describe this period as the
darkness be
fore the dawn,' he said.
</TEXT>
<XX>
Countries:-
</XX>
<CN>CNZ  China, Asia
.
</CN>
<XX>
Industries:-
</XX>
<IN>P6552 Subdividers and Developers, Ex Cem
eteries.
    P7999 Amusement and Recreation, NEC.
    P9532 Urban and Commun
ity Development.
</IN>
<XX>
Types:-
</XX>
<TP>RES  Capital expenditures.
   
 CMMT  Comment & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> Lond
on Page 33 </PAGE>
</DOC>

============= Transaction # 199 ==============================================
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<DOCNO>FT923-6187</DOCNO>
<PROFILE>_AN-CH0BVABKFT</PROFILE>
<DATE>9208
26
</DATE>
<HEADLINE> FT  26 AUG 92 / 18% jump in visitors to Northern Irela
nd </HEADLINE>
<TEXT>
THE NUMBER of visitors to Northern Ireland increased b
y 18 per cent to
263,000 last year, the province's tourist board said yester
day.
Mr Hugh O'Neill, board chairman, said the numbers had more than doubled
 over
three years but the government target was for more than 400,000
holida
ymakers by 1994.
Self-catering, bed and breakfast accommodation and touring 
caravan and
camping sites reported big increases in business, although hotel
 occupancy
fell by 1 per cent.
The board's annual report says that holidayma
kers are spending less because
of the recession and the domestic market is w
eak.
There was also a disappointing level of visitors from the US but Mr O'N
eill
said: 'We nevertheless believe that 1992 will be the best ever year for

overseas visitors and for tourism revenue.'
</TEXT>
<PUB>The Financial Time
s </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT923-6187</DOCNO>
<PROFILE>_AN-CH0BVABKFT</PROFILE>
<DATE>9208
26
</DATE>
<HEADLINE> FT  26 AUG 92 / 18% jump in visitors to Northern Irela
nd </HEADLINE>
<TEXT>
THE NUMBER of visitors to Northern Ireland increased b
y 18 per cent to
263,000 last year, the province's tourist board said yester
day.
Mr Hugh O'Neill, board chairman, said the numbers had more than doubled
 over
three years but the government target was for more than 400,000
holida
ymakers by 1994.
Self-catering, bed and breakfast accommodation and touring 
caravan and
camping sites reported big increases in business, although hotel
 occupancy
fell by 1 per cent.
The board's annual report says that holidayma
kers are spending less because
of the recession and the domestic market is w
eak.
There was also a disappointing level of visitors from the US but Mr O'N
eill
said: 'We nevertheless believe that 1992 will be the best ever year for

overseas visitors and for tourism revenue.'
</TEXT>
<PUB>The Financial Time
s </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT922-5614</DOCNO>
<PROFILE>_AN-CE2ATAEZFT</PROFILE>
<DATE>9205
29
</DATE>
<HEADLINE> FT  29 MAY 92 / Tourist row flares in Ulster </HEADLIN
E>
<BYLINE>    By RALPH ATKINS </BYLINE>
<DATELINE>    BELFAST </DATELINE>
<
TEXT>
TOURIST officials in Northern Ireland yesterday found they had promote
d fury
as well as holidaymaking after suggesting that inquisitiveness about 
the
conflict between Protestants and Roman Catholics could be a selling poin
t
for the province.
The listing by the Northern Ireland Tourist Board of the
 'curiosity factor'
as an important strength was condemned by politicians an
d business - even if
it was only acknowledging an unspoken truth: that most 
tourists have
previously seen Northern Ireland only in grisly news pictures.

Tourist board officials hurriedly made clear that its three-year corporate

plan did not propose the marketing of bus tours to terrorist-hit areas of
we
st Belfast, or listing bed and breakfast accommodation along the 'peace
line
'. The emphasis would be on increasing understanding about the
'troubles', t
hey said. The corporate plan says many visitors 'may be
motivated to visit s
imply to see why there should be such conflict in modern
society'.
Mr Willia
m Hastings, chief executive of the Hastings hotel group, said the
board was 
mistaken. 'The conflict still exists. Were it over, then some
places, like t
he walls which divide the Shankill and the Falls may be of
some interest. Bu
t I think we have many other things of much greater
interest to offer the to
urist,' he said.
Mr John Taylor, Ulster Unionist MP, said: 'You don't help t
he tourist
industry by drawing attention to the troubles.'
The Northern Irel
and Office is keen to promote tourism, believing there is
scope for growth -
 some 263,000 holidaymakers are estimated to have visited
last year. But unt
il now explicit mention of conflict has been shunned in
favour of Northern I
reland's scenic beauty.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> Londo
n Page 8 </PAGE>
</DOC>

============= Transaction # 202 ==============================================
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<DOC>
<DOCNO>FT934-5306</DOCNO>
<PROFILE>_AN-DLACFAGPFT</PROFILE>
<DATE>9311
30
</DATE>
<HEADLINE> FT  30 NOV 93 / Survey of Vietnam (7): Instant dollars
 a threat - Mark Graham voices concern about the rush to develop tourism </H
EADLINE>
<BYLINE>    By MARK GRAHAM </BYLINE>
<TEXT>
Five years from now, Ha
noi's shaded avenues are full of cars, Ho Chi Minh
City's streets are clogge
d with traffic jams, Vung Tau's beaches are
surrounded by sterile high-rise 
apartment blocks and hotels and the peace of
Ha Long Bay is shattered by hun
dreds of tour boats.
Such is the overweening desire to promote tourism in Vi
etnam that this
prediction is more than likely to be fulfilled. Vietnamese o
fficials have in
recent years travelled widely among neighbouring countries,
 such as
Thailand, to see the results of south-east Asia's tourist boom. Wit
hout
exception they voice concern over tourism's often negative impact on th
e
environment, threats of uncontrolled growth around scenic areas and lack o
f
infrastructure to sustain tourism in the long term. But evidence suggests

that the immediate need for foreign exchange will overrule most of these
con
siderations and rapidly lead to the production of familiar touristic
eyesore
s. After years of isolation, it is only during the past three years
that Vie
tnam has welcomed foreigners with open arms, and even then it has
directed t
hem to a relatively small number of destinations such as Ho Chi
Minh City, H
ue, Hanoi and Ha Long Bay. Nevertheless officials claim that
more than 500,0
00 tourists will visit Vietnam in 1993 generating more than
Dollars 200m in 
foreign earnings.
The attractions are obvious - a little visited country wit
h a fascinating
past, areas of great scenic beauty, the romance of an Asia s
till living in
the past and an excellent and varied cuisine. And it is cheap
.
For the hardy traveller, prepared for the unexpected and the stimulus of
e
xotic adventure, Vietnam offers vastly different fare from the
predictabilit
y of well-trodden destinations elsewhere in Asia.
With the exception of Ho C
hi Minh City and Hanoi, decent hotel accommodation
is in short supply.
Trans
port is made difficult by the appalling state of roads and railways
which ha
ve suffered from 50 years of war and neglect. A limited number of
vehicles a
re available for hire and the public transport system creaks under
the combi
ned weight of humanity and the inheritance of ageing eastern
European trucks
 and buses and still older vehicles left by the Americans in
the 1970s.
In a
n effort to conserve the environment and offer more exotic destinations
to v
isitors, the government is looking at national parks and wildlife
sanctuarie
s to see if they can be sensibly exploited.
Some of these areas, such as Nam
 Cat Tien, where a small number of Javan
rhinos roam a lowland swamp forest 
reserve 150km north of Ho Chi Minh City,
will remain off-limits. Others, suc
h as Cat Ba island in Ha Long Bay offer
immediate opportunities for small gr
oups intent on adventure and
exploration.
Ha Long Bay has long been consider
ed one of the world's most spectacular
seascapes. Hundreds of limestone isla
nds, reminiscent of a Chinese landscape
painting from Gwailin, emerge sudden
ly offshore from the flat Red River
delta. Stretching more than 150km, the a
rea is populated with hundreds of
small fishing villages (and smugglers plyi
ng their trade between Hainan
island and the Vietnamese mainland).
Among the
 many motorised fishing vessels it is still possible to admire the
graceful 
shape of a junk slowly wending her way through the maze of inlets
and island
s. For the most part uninhabited, many of the islands offer
pristine beaches
 and countless unexplored caves.
Cat Ba, the largest, covers more than 150 s
q km with its rugged limestone
hills and heavily forested valleys.
Part of t
he island is a national park, home to the rare golden-headed langur
monkey, 
numerous birds, the flora of evergreen tropical forests and a
multitude of e
xotic butterflies.
The forestry department's headquarters provides simple ac
commodation for
about 30 people. Other diversions include visits to ancient 
fishing villages
and enjoyment of plentiful fresh seafood.
Although few orga
nised tours exist to the more inaccessible parts of
Vietnam, the department 
of ecotourism at the University of Hanoi will
organise small group expeditio
ns, obtaining the necessary provincial permits
and providing transport and g
uides.
Tourism offers instant dollars but it is hard to determine where this
 fits
into overall government policy of trying to feed one of the most dense
ly
populated and poorest countries in the world.
The arrival of multinationa
l hotel chains, the sale of land concessions to
foreigners for the construct
ion of golf courses and an increasing mass of
ignorant tourists suggest that
 the heroic discipline which served the
Vietnamese so well throughout two an
ti-colonial wars has deserted them.
Idyllic though Vietnam may now be, the t
emptations of easy wealth will
ensure that today's unspoilt land will soon b
ecome another case of too much
too quickly.
Mark Graham is a Bangkok-based n
aturalist and business consultant who has
co-authored books on the national 
parks and wildlife of Thailand.
</TEXT>
<XX>
Countries:-
</XX>
<CN>VNZ  Viet
nam, Asia.
</CN>
<XX>
Industries:-
</XX>
<IN>P9311 Finance, Taxation, and Mo
netary Policy.
    P79   Amusement and Recreation Services.
    P9532 Urban 
and Community Development.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment & Anal
ysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 34 </PAGE>
</
DOC>

============= Transaction # 203 ==============================================
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<DOC>
<DOCNO>FT944-16479</DOCNO>
<PROFILE>_AN-EJMDEAC6FT</PROFILE>
<DATE>941
013
</DATE>
<HEADLINE> FT  13 OCT 94 / Survey of Bulgaria (7): Western visit
ors lead the way - Theodor Troev finds that prospects for the tourist indust
ry are picking up </HEADLINE>
<BYLINE>    By THEODOR TROEV </BYLINE>
<TEXT>

The Russians are back, enjoying their holidays in some of the best resorts
a
long Bulgaria's sandy Black Sea coast - not shepherded in large groups as
th
ey were under the communist regime, but strolling around with the
self-confi
dence of big spenders.
'Now everybody wants to attract Russians,' says Dotko
 Dotkov, general
director of Grand Hotel Varna, Bulgaria's only five-star ho
tel on the Black
Sea, and the first to be privatised earlier this year.
Iron
ically, it is often German tour companies that are bringing the Russians
bac
k. Big operators, such as TUI, have become aware of the reviving market
in w
hat was for decades the Riviera of the former Eastern bloc and their
branch 
offices in Russia - better organised than local competitors - have
been more
 successful than most in selling Bulgarian holidays.
But the recent increase
 in arrivals from the east has not yet reversed a
trend which began after th
e collapse of communism. Until then, Bulgaria had
been forced into the lower
 end of the mass tourism market with cheap package
holidays in block-like ho
tels. More than 60 per cent of tourists then came
from Eastern bloc countrie
s.
Since 1990, the number of Russian and east European visitors has dropped 
to
less than 15 per cent of the total while western markets have picked up. 
The
number of travellers from western Europe grew by 28 per cent last year w
hen
the overall number of visitors rose to 2.4m from 872,000 in 1992.
Most o
f these come from Germany (with a market share of more than 40 per
cent) and
 Britain (with a market share of more than 25 per cent) followed by
Norway, 
Greece, the Netherlands, Sweden and Denmark.
No official figures are availab
le for this year but there is strong visual
evidence of a sharp rise after a
 slow start.
The main state-owned tour operators, Balkantourist whose name u
ntil 1990 was
synonymous with the country's travel industry, and Balkan Holi
days, with
subsidiaries in 17 countries, have reported increased demand thro
ughout the
season. Seaside and mountain resorts, which have started negotiat
ing
directly with foreign partners, as well as most private operators, also

report a steady flow of business.
Tourism managers have started to pay more 
attention to the long-term image
of the country and managed to prevent doubl
e-booking this summer. Last year,
Bulgaria received bad publicity when some 
customers of Balkan Holidays, the
main agency for the UK, arrived on the Bla
ck Sea to find their rooms
occupied by higher-paying German visitors.
Proble
ms of this sort are not uncommon at a time when Bulgaria's travel
industry i
s trying to make the bold step from state ownership to free market
and priva
te initiative. The first steps led to chaos, largely due to the
lack of a cl
ear tourism policy and the power struggle between institutions
such as the C
ommittee of Tourism, the Privatisation Agency, and the still
powerful manage
rs of state-owned resorts and hotels.
Western consultants who have looked in
to Bulgaria's leisure industry
identify drawbacks such as poor quality of se
rvice and infrastructure, some
unsafe hotels and inhospitable airports. Only
 6 per cent of the country's
high class hotels were estimated to meet Europe
an standards. Substantial
investment will be needed to upgrade them and attr
act a more up-market
clientele.
But officials are optimistic about the long-
term potential of the industry.
The country is only just starting to promote
 its wealth of Thracian, Roman
and Byzantine remains, monasteries and mounta
ins.
Apart from cheap summer seaside or winter skiing packages, Bulgarian to
ur
operators can also offer special interest tours, focusing on traditional

architecture, history, religion, arts, hunting and rural tourism.
Picturesqu
e little towns on the Black Sea such as Nessebur and Sozopol,
built over anc
ient Thracian and Greek ports, now offer holidays in
residents' houses match
ing Greek islands-style vacations. Untapped
opportunities also exist in spa 
treatment, motor touring and green tourism,
as well as in conference travel.

</TEXT>
<XX>
Countries:-
</XX>
<CN>BGZ  Bulgaria, East Europe.
</CN>
<XX>
I
ndustries:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
</IN>
<XX>
Types:
-
</XX>
<TP>CMMT  Comment & Analysis.
    MKTS  Market shares.
</TP>
<PUB>Th
e Financial Times </PUB>
<PAGE> London Page 15 </PAGE>
</DOC>

============= Transaction # 204 ==============================================
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<DOC>
<DOCNO>FT942-10654</DOCNO>
<PROFILE>_AN-EEJC9ABMFT</PROFILE>
<DATE>940
510
</DATE>
<HEADLINE> FT  10 MAY 94 / World Trade News: Scheme to increase 
tourist arrivals </HEADLINE>
<BYLINE>    By SHIRAZ SIDHVA </BYLINE>
<DATELIN
E>    NEW DELHI </DATELINE>
<TEXT>
The Indian government has launched a tour
ism promotion programme to increase
the number of foreign visitors from 1.76
m to 5m over three years.
A calmer political climate and further opening up 
of the economy have led to
an increase in tourist arrivals, to 1.76m from 1.
5m the previous year.
Foreign exchange earnings from tourism increased by 14
 per cent to Dollars
1.47bn for 1993-94, according to figures published by t
he Ministry of
Tourism and Civil Aviation.
Mr Ghulam Nabi Azad, tourism mini
ster, said Bombay airport, the country's
prime entry point, alone handled 16
4,000 domestic and international flights,
an increase of more than 150 per c
ent in a decade. Liberalisation of
domestic routes last year helped ease bot
h congestion and non-availability
of seats on flights within the country.
To
urism is India's third-largest foreign exchange earner, and has more of a
ra
nge of destinations to offer than most countries in the world. But the
count
ry accounts for 0.2 per cent of international tourism, largely because
of in
adequate infrastructure.
Officials in the Tourism Ministry say a big constra
int is a lack of
middle-level hotels. 'The choice we offer the foreign touri
st is limited,'
said a senior official. The foreign tourist must choose betw
een expensive
five-star comfort or small hotels that cater to backpackers an
d lack the
most basic of amenities. 'Our plan is to offer something to the t
ourist
between the very wealthy ones and the business travellers, and those 
who
have very little money to spend.'
Foreign hotel chains are enthusiastic 
about the more relaxed investment
rules after liberalisation (the hotel indu
stry has always been dominated by
private companies), and are flocking to In
dia with joint ventures. The
government estimates that foreign investment is
 worth at least Dollars 250m
(Pounds 168m) in the hotel industry.
The Austra
lian Southern Pacific hotels plans to start a series of three-star
travel lo
dges in main cities. The Oberoi group is linking with Accor of
France to sta
rt a network of motels across the country. Kamats, a chain of
south Indian r
estaurants, is linking with the Japanese Dai Ici and Pearl
Hotels, to offer 
budget accommodation at Buddhist pilgrimage destinations.
The Indian Taj Gro
up, which operates some of India's finest hotels, plans a
350-room hotel in 
Bombay to supplement its famous Taj Mahal, and a series of
Club Med resorts 
in association with the French company. And a group of
non-resident Indians 
has got together with the Irish company, Deltic
Management, to build a Rs8.7
bn (Pounds 186m) 600-room floating luxury hotel
in Bombay.
</TEXT>
<XX>
Coun
tries:-
</XX>
<CN>INZ  India, Asia.
</CN>
<XX>
Industries:-
</XX>
<IN>P9611 
Administration of General Economic Programs.
</IN>
<XX>
Types:-
</XX>
<TP>GO
VT  Government News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Pag
e 6 </PAGE>
</DOC>

============= Transaction # 205 ==============================================
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<DOC>
<DOCNO>FT942-10654</DOCNO>
<PROFILE>_AN-EEJC9ABMFT</PROFILE>
<DATE>940
510
</DATE>
<HEADLINE> FT  10 MAY 94 / World Trade News: Scheme to increase 
tourist arrivals </HEADLINE>
<BYLINE>    By SHIRAZ SIDHVA </BYLINE>
<DATELIN
E>    NEW DELHI </DATELINE>
<TEXT>
The Indian government has launched a tour
ism promotion programme to increase
the number of foreign visitors from 1.76
m to 5m over three years.
A calmer political climate and further opening up 
of the economy have led to
an increase in tourist arrivals, to 1.76m from 1.
5m the previous year.
Foreign exchange earnings from tourism increased by 14
 per cent to Dollars
1.47bn for 1993-94, according to figures published by t
he Ministry of
Tourism and Civil Aviation.
Mr Ghulam Nabi Azad, tourism mini
ster, said Bombay airport, the country's
prime entry point, alone handled 16
4,000 domestic and international flights,
an increase of more than 150 per c
ent in a decade. Liberalisation of
domestic routes last year helped ease bot
h congestion and non-availability
of seats on flights within the country.
To
urism is India's third-largest foreign exchange earner, and has more of a
ra
nge of destinations to offer than most countries in the world. But the
count
ry accounts for 0.2 per cent of international tourism, largely because
of in
adequate infrastructure.
Officials in the Tourism Ministry say a big constra
int is a lack of
middle-level hotels. 'The choice we offer the foreign touri
st is limited,'
said a senior official. The foreign tourist must choose betw
een expensive
five-star comfort or small hotels that cater to backpackers an
d lack the
most basic of amenities. 'Our plan is to offer something to the t
ourist
between the very wealthy ones and the business travellers, and those 
who
have very little money to spend.'
Foreign hotel chains are enthusiastic 
about the more relaxed investment
rules after liberalisation (the hotel indu
stry has always been dominated by
private companies), and are flocking to In
dia with joint ventures. The
government estimates that foreign investment is
 worth at least Dollars 250m
(Pounds 168m) in the hotel industry.
The Austra
lian Southern Pacific hotels plans to start a series of three-star
travel lo
dges in main cities. The Oberoi group is linking with Accor of
France to sta
rt a network of motels across the country. Kamats, a chain of
south Indian r
estaurants, is linking with the Japanese Dai Ici and Pearl
Hotels, to offer 
budget accommodation at Buddhist pilgrimage destinations.
The Indian Taj Gro
up, which operates some of India's finest hotels, plans a
350-room hotel in 
Bombay to supplement its famous Taj Mahal, and a series of
Club Med resorts 
in association with the French company. And a group of
non-resident Indians 
has got together with the Irish company, Deltic
Management, to build a Rs8.7
bn (Pounds 186m) 600-room floating luxury hotel
in Bombay.
</TEXT>
<XX>
Coun
tries:-
</XX>
<CN>INZ  India, Asia.
</CN>
<XX>
Industries:-
</XX>
<IN>P9611 
Administration of General Economic Programs.
</IN>
<XX>
Types:-
</XX>
<TP>GO
VT  Government News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Pag
e 6 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT942-10654</DOCNO>
<PROFILE>_AN-EEJC9ABMFT</PROFILE>
<DATE>940
510
</DATE>
<HEADLINE> FT  10 MAY 94 / World Trade News: Scheme to increase 
tourist arrivals </HEADLINE>
<BYLINE>    By SHIRAZ SIDHVA </BYLINE>
<DATELIN
E>    NEW DELHI </DATELINE>
<TEXT>
The Indian government has launched a tour
ism promotion programme to increase
the number of foreign visitors from 1.76
m to 5m over three years.
A calmer political climate and further opening up 
of the economy have led to
an increase in tourist arrivals, to 1.76m from 1.
5m the previous year.
Foreign exchange earnings from tourism increased by 14
 per cent to Dollars
1.47bn for 1993-94, according to figures published by t
he Ministry of
Tourism and Civil Aviation.
Mr Ghulam Nabi Azad, tourism mini
ster, said Bombay airport, the country's
prime entry point, alone handled 16
4,000 domestic and international flights,
an increase of more than 150 per c
ent in a decade. Liberalisation of
domestic routes last year helped ease bot
h congestion and non-availability
of seats on flights within the country.
To
urism is India's third-largest foreign exchange earner, and has more of a
ra
nge of destinations to offer than most countries in the world. But the
count
ry accounts for 0.2 per cent of international tourism, largely because
of in
adequate infrastructure.
Officials in the Tourism Ministry say a big constra
int is a lack of
middle-level hotels. 'The choice we offer the foreign touri
st is limited,'
said a senior official. The foreign tourist must choose betw
een expensive
five-star comfort or small hotels that cater to backpackers an
d lack the
most basic of amenities. 'Our plan is to offer something to the t
ourist
between the very wealthy ones and the business travellers, and those 
who
have very little money to spend.'
Foreign hotel chains are enthusiastic 
about the more relaxed investment
rules after liberalisation (the hotel indu
stry has always been dominated by
private companies), and are flocking to In
dia with joint ventures. The
government estimates that foreign investment is
 worth at least Dollars 250m
(Pounds 168m) in the hotel industry.
The Austra
lian Southern Pacific hotels plans to start a series of three-star
travel lo
dges in main cities. The Oberoi group is linking with Accor of
France to sta
rt a network of motels across the country. Kamats, a chain of
south Indian r
estaurants, is linking with the Japanese Dai Ici and Pearl
Hotels, to offer 
budget accommodation at Buddhist pilgrimage destinations.
The Indian Taj Gro
up, which operates some of India's finest hotels, plans a
350-room hotel in 
Bombay to supplement its famous Taj Mahal, and a series of
Club Med resorts 
in association with the French company. And a group of
non-resident Indians 
has got together with the Irish company, Deltic
Management, to build a Rs8.7
bn (Pounds 186m) 600-room floating luxury hotel
in Bombay.
</TEXT>
<XX>
Coun
tries:-
</XX>
<CN>INZ  India, Asia.
</CN>
<XX>
Industries:-
</XX>
<IN>P9611 
Administration of General Economic Programs.
</IN>
<XX>
Types:-
</XX>
<TP>GO
VT  Government News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Pag
e 6 </PAGE>
</DOC>

============= Transaction # 207 ==============================================
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<DOC>
<DOCNO>FT933-281</DOCNO>
<PROFILE>_AN-DI2CRAGZFT</PROFILE>
<DATE>93092
9
</DATE>
<HEADLINE> FT  29 SEP 93 / Survey of Peru (26): A paradise for pio
neering spirits - The tourist industry is working to change the country's ne
gative image </HEADLINE>
<BYLINE>    By SALLY BOWEN </BYLINE>
<TEXT>
THE anc
ient Inca festival of Inti Raymi, celebrating the midsummer solstice,
is one
 of Peru's great tourist occasions.
In a spectacular three-hour pageant insi
de the sacred fortress of
Sacsayhuaman, Cuzco, locals re-enact the legendary
 clash between the Inca
and Spanish cultures. Fantastically colourful costum
es and swirling dances
accompanied by a solemn narrative intoned in Quechua 
make for an
unforgettable experience.
Much of the charm of festivals such as
 Inti Raymi - repeated on different
themes and different levels of splendour
 throughout the year in every
Peruvian town, village and hamlet - is that th
ey are not organised for the
tourist. They are times when local people aband
on everyday austerity and
give themselves over totally to music, dance, reli
gious or pagan ritual -
and drink.
Tourism in Peru is not for the faint-hear
ted. With a few important
exceptions, a certain pioneering spirit is require
d. Travelling by road and
air, while easier every day, demands stamina and g
ood humour - flights may
be cancelled without warning, carefully booked hote
l reservations may prove
untraceable.
For the past five years, numbers of to
urists have plummeted from a high of
120,000 to maybe a quarter of that. Any
 news abroad concerning Peru seemed
bad news. Hyperinflation, economic chaos
 and guerrilla violence (although
tourists were rarely caught up in it) kept
 all but the most adventurous -
some would say the foolhardy - away.
Now Per
u is working hard to change that image. 'Tourism is the great
multiplier,' s
ays Mr Victor Joy Way, third vice-president of Peru, formerly
minister of tr
ade and tourism. 'It creates a market for craftsmen, a boost
for restaurant-
owners, taxi drivers, tour guides - almost everyone in a
community benefits.
'
The fall-off in tourism has hit Cuzco, the ancient Inca capital, worst of

all. 'More than 95 per cent of local inhabitants are partially dependent on

tourism,' says Mr Edwin Gonzalez, manager of El Libertador hotel and a
direc
tor of the hoteliers' chamber. 'Since the 1988 collapse, many hotels
have cl
osed, special tourist buses have been sold and experienced staff have
found 
other jobs. When the tourists come back in numbers, we'll be
unprepared.'
Ju
ne and July were better months, however. Occupancy rates, at about 25 per
ce
nt, were up on the previous year, although well below the 40 per cent
needed
 to break even. Europeans currently account for over half of all
visitors to
 Cuzco, according to Mr Gonzalez, replacing the Americans who are
still diss
uaded by their embassy from travelling within Peru.
Lima hotels are now busi
er than for several years past, although the
mini-boom is largely business-l
ed, according to Mr Eduardo Arrarte,
president of Canatur, the national tour
ist chamber. He points out that
international recession has hit the tourist 
industry worldwide in recent
years, but 'Peru's image is still bad, or it ha
s improved only at the
highest, governmental levels. The message hasn't got 
down to the travelling
public yet.'
Changing trends in world tourism should 
eventually favour Peru, he says. The
average tourist, who wants to visit as 
many places as quickly as possible,
will be the mainstay of the market for m
any years to come, but specialist
tours are in ever greater demand. Peru is 
a paradise for nature-lovers,
bird-watchers and butterfly enthusiasts; the h
igh Andes are wonderful,
largely unexplored terrain for hikers and climbers;
 and alongside the
long-famous Inca cities of Cuzco and Machu Picchu are doz
ens of less
familiar sites and less renowned cultures.
Adventure tourism is 
also growing. Paragliding and bungee-jumping have
caught on, while opportuni
ties abound for white-water rafting, some as
little as two hours away from L
ima. Peru's Pacific rollers draw surfers from
many countries.
While convince
d that development of tourism must be a matter for the private
sector, the g
overnment is doing what it can to provide the bases for growth.
Deregulation
 of domestic airways has already spawned a clutch of small
airline companies
 which have inaugurated new air services to a number of
hitherto remote prov
incial towns. And the transport ministry has made a
priority of asphalting s
tretches of roads leading to tourist attractions.
Outside Lima, hotel infras
tructure leaves much to be desired. But investment
has already begun. The di
scovery of the tomb of the Lord of Sipan led
directly to the construction of
 three new hotels in the nearby coastal city
of Chiclayo. And El Libertador,
 Cuzco's leading hotel, is expanding capacity
from 130 rooms to 250 in antic
ipation of a tourist boom.
South Korean hoteliers are reported to be taking 
a close look at investment
opportunities in Cuzco. Their government has offe
red Peru Dollars 18m to
rehabilitate the city's airport and feasibility stud
ies are under way. One
prime hotel property which could soon become availabl
e is the former
monastery of San Antonio Abad, owned by Cuzco's archbishopri
c. Dollars 4m
has already been spent on it.
The government and Canatur would
 like to see cities such as Ayacucho - most
famous as the cradle of Maoist g
uerrilla movement Shining Path, but also one
of Peru's loveliest colonial to
wns - become tourist centres. Official
estimates are that the average touris
t spends Dollars 1,200 in a week's
stay, a potentially huge boost to nationa
l and local economies.
'The first tourists will be guinea-pigs, of course,' 
admits Mr Arrarte.
'They'll be roughing it a bit, but that's how it always s
tarts. I bet we
find some very happy pioneers for Ayacucho.'
One opportunity
 to 'sell' Peru falls on November 4 next year, when a total
solar eclipse wi
ll be visible from the southern Peruvian coast. All 5,000
available hotel be
ds in the area have already been reserved by international
travel agencies.

'When those people come, visit a few other places, go home safe and happy
an
d tell their friends, it'll be the best promotion we've had for years,'
says
 Mr Arrarte. it
</TEXT>
<XX>
Countries:-
</XX>
<CN>PEZ  Peru, South America.

</CN>
<XX>
Industries:-
</XX>
<IN>P79   Amusement and Recreation Services.

    P7011 Hotels and Motels.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment & An
alysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page XI </PAGE>

</DOC>

============= Transaction # 208 ==============================================
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<DOC>
<DOCNO>FT933-281</DOCNO>
<PROFILE>_AN-DI2CRAGZFT</PROFILE>
<DATE>93092
9
</DATE>
<HEADLINE> FT  29 SEP 93 / Survey of Peru (26): A paradise for pio
neering spirits - The tourist industry is working to change the country's ne
gative image </HEADLINE>
<BYLINE>    By SALLY BOWEN </BYLINE>
<TEXT>
THE anc
ient Inca festival of Inti Raymi, celebrating the midsummer solstice,
is one
 of Peru's great tourist occasions.
In a spectacular three-hour pageant insi
de the sacred fortress of
Sacsayhuaman, Cuzco, locals re-enact the legendary
 clash between the Inca
and Spanish cultures. Fantastically colourful costum
es and swirling dances
accompanied by a solemn narrative intoned in Quechua 
make for an
unforgettable experience.
Much of the charm of festivals such as
 Inti Raymi - repeated on different
themes and different levels of splendour
 throughout the year in every
Peruvian town, village and hamlet - is that th
ey are not organised for the
tourist. They are times when local people aband
on everyday austerity and
give themselves over totally to music, dance, reli
gious or pagan ritual -
and drink.
Tourism in Peru is not for the faint-hear
ted. With a few important
exceptions, a certain pioneering spirit is require
d. Travelling by road and
air, while easier every day, demands stamina and g
ood humour - flights may
be cancelled without warning, carefully booked hote
l reservations may prove
untraceable.
For the past five years, numbers of to
urists have plummeted from a high of
120,000 to maybe a quarter of that. Any
 news abroad concerning Peru seemed
bad news. Hyperinflation, economic chaos
 and guerrilla violence (although
tourists were rarely caught up in it) kept
 all but the most adventurous -
some would say the foolhardy - away.
Now Per
u is working hard to change that image. 'Tourism is the great
multiplier,' s
ays Mr Victor Joy Way, third vice-president of Peru, formerly
minister of tr
ade and tourism. 'It creates a market for craftsmen, a boost
for restaurant-
owners, taxi drivers, tour guides - almost everyone in a
community benefits.
'
The fall-off in tourism has hit Cuzco, the ancient Inca capital, worst of

all. 'More than 95 per cent of local inhabitants are partially dependent on

tourism,' says Mr Edwin Gonzalez, manager of El Libertador hotel and a
direc
tor of the hoteliers' chamber. 'Since the 1988 collapse, many hotels
have cl
osed, special tourist buses have been sold and experienced staff have
found 
other jobs. When the tourists come back in numbers, we'll be
unprepared.'
Ju
ne and July were better months, however. Occupancy rates, at about 25 per
ce
nt, were up on the previous year, although well below the 40 per cent
needed
 to break even. Europeans currently account for over half of all
visitors to
 Cuzco, according to Mr Gonzalez, replacing the Americans who are
still diss
uaded by their embassy from travelling within Peru.
Lima hotels are now busi
er than for several years past, although the
mini-boom is largely business-l
ed, according to Mr Eduardo Arrarte,
president of Canatur, the national tour
ist chamber. He points out that
international recession has hit the tourist 
industry worldwide in recent
years, but 'Peru's image is still bad, or it ha
s improved only at the
highest, governmental levels. The message hasn't got 
down to the travelling
public yet.'
Changing trends in world tourism should 
eventually favour Peru, he says. The
average tourist, who wants to visit as 
many places as quickly as possible,
will be the mainstay of the market for m
any years to come, but specialist
tours are in ever greater demand. Peru is 
a paradise for nature-lovers,
bird-watchers and butterfly enthusiasts; the h
igh Andes are wonderful,
largely unexplored terrain for hikers and climbers;
 and alongside the
long-famous Inca cities of Cuzco and Machu Picchu are doz
ens of less
familiar sites and less renowned cultures.
Adventure tourism is 
also growing. Paragliding and bungee-jumping have
caught on, while opportuni
ties abound for white-water rafting, some as
little as two hours away from L
ima. Peru's Pacific rollers draw surfers from
many countries.
While convince
d that development of tourism must be a matter for the private
sector, the g
overnment is doing what it can to provide the bases for growth.
Deregulation
 of domestic airways has already spawned a clutch of small
airline companies
 which have inaugurated new air services to a number of
hitherto remote prov
incial towns. And the transport ministry has made a
priority of asphalting s
tretches of roads leading to tourist attractions.
Outside Lima, hotel infras
tructure leaves much to be desired. But investment
has already begun. The di
scovery of the tomb of the Lord of Sipan led
directly to the construction of
 three new hotels in the nearby coastal city
of Chiclayo. And El Libertador,
 Cuzco's leading hotel, is expanding capacity
from 130 rooms to 250 in antic
ipation of a tourist boom.
South Korean hoteliers are reported to be taking 
a close look at investment
opportunities in Cuzco. Their government has offe
red Peru Dollars 18m to
rehabilitate the city's airport and feasibility stud
ies are under way. One
prime hotel property which could soon become availabl
e is the former
monastery of San Antonio Abad, owned by Cuzco's archbishopri
c. Dollars 4m
has already been spent on it.
The government and Canatur would
 like to see cities such as Ayacucho - most
famous as the cradle of Maoist g
uerrilla movement Shining Path, but also one
of Peru's loveliest colonial to
wns - become tourist centres. Official
estimates are that the average touris
t spends Dollars 1,200 in a week's
stay, a potentially huge boost to nationa
l and local economies.
'The first tourists will be guinea-pigs, of course,' 
admits Mr Arrarte.
'They'll be roughing it a bit, but that's how it always s
tarts. I bet we
find some very happy pioneers for Ayacucho.'
One opportunity
 to 'sell' Peru falls on November 4 next year, when a total
solar eclipse wi
ll be visible from the southern Peruvian coast. All 5,000
available hotel be
ds in the area have already been reserved by international
travel agencies.

'When those people come, visit a few other places, go home safe and happy
an
d tell their friends, it'll be the best promotion we've had for years,'
says
 Mr Arrarte. it
</TEXT>
<XX>
Countries:-
</XX>
<CN>PEZ  Peru, South America.

</CN>
<XX>
Industries:-
</XX>
<IN>P79   Amusement and Recreation Services.

    P7011 Hotels and Motels.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment & An
alysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page XI </PAGE>

</DOC>

============= Transaction # 209 ==============================================
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Associated Variable Length Text:

<DOC>
<DOCNO>FT933-281</DOCNO>
<PROFILE>_AN-DI2CRAGZFT</PROFILE>
<DATE>93092
9
</DATE>
<HEADLINE> FT  29 SEP 93 / Survey of Peru (26): A paradise for pio
neering spirits - The tourist industry is working to change the country's ne
gative image </HEADLINE>
<BYLINE>    By SALLY BOWEN </BYLINE>
<TEXT>
THE anc
ient Inca festival of Inti Raymi, celebrating the midsummer solstice,
is one
 of Peru's great tourist occasions.
In a spectacular three-hour pageant insi
de the sacred fortress of
Sacsayhuaman, Cuzco, locals re-enact the legendary
 clash between the Inca
and Spanish cultures. Fantastically colourful costum
es and swirling dances
accompanied by a solemn narrative intoned in Quechua 
make for an
unforgettable experience.
Much of the charm of festivals such as
 Inti Raymi - repeated on different
themes and different levels of splendour
 throughout the year in every
Peruvian town, village and hamlet - is that th
ey are not organised for the
tourist. They are times when local people aband
on everyday austerity and
give themselves over totally to music, dance, reli
gious or pagan ritual -
and drink.
Tourism in Peru is not for the faint-hear
ted. With a few important
exceptions, a certain pioneering spirit is require
d. Travelling by road and
air, while easier every day, demands stamina and g
ood humour - flights may
be cancelled without warning, carefully booked hote
l reservations may prove
untraceable.
For the past five years, numbers of to
urists have plummeted from a high of
120,000 to maybe a quarter of that. Any
 news abroad concerning Peru seemed
bad news. Hyperinflation, economic chaos
 and guerrilla violence (although
tourists were rarely caught up in it) kept
 all but the most adventurous -
some would say the foolhardy - away.
Now Per
u is working hard to change that image. 'Tourism is the great
multiplier,' s
ays Mr Victor Joy Way, third vice-president of Peru, formerly
minister of tr
ade and tourism. 'It creates a market for craftsmen, a boost
for restaurant-
owners, taxi drivers, tour guides - almost everyone in a
community benefits.
'
The fall-off in tourism has hit Cuzco, the ancient Inca capital, worst of

all. 'More than 95 per cent of local inhabitants are partially dependent on

tourism,' says Mr Edwin Gonzalez, manager of El Libertador hotel and a
direc
tor of the hoteliers' chamber. 'Since the 1988 collapse, many hotels
have cl
osed, special tourist buses have been sold and experienced staff have
found 
other jobs. When the tourists come back in numbers, we'll be
unprepared.'
Ju
ne and July were better months, however. Occupancy rates, at about 25 per
ce
nt, were up on the previous year, although well below the 40 per cent
needed
 to break even. Europeans currently account for over half of all
visitors to
 Cuzco, according to Mr Gonzalez, replacing the Americans who are
still diss
uaded by their embassy from travelling within Peru.
Lima hotels are now busi
er than for several years past, although the
mini-boom is largely business-l
ed, according to Mr Eduardo Arrarte,
president of Canatur, the national tour
ist chamber. He points out that
international recession has hit the tourist 
industry worldwide in recent
years, but 'Peru's image is still bad, or it ha
s improved only at the
highest, governmental levels. The message hasn't got 
down to the travelling
public yet.'
Changing trends in world tourism should 
eventually favour Peru, he says. The
average tourist, who wants to visit as 
many places as quickly as possible,
will be the mainstay of the market for m
any years to come, but specialist
tours are in ever greater demand. Peru is 
a paradise for nature-lovers,
bird-watchers and butterfly enthusiasts; the h
igh Andes are wonderful,
largely unexplored terrain for hikers and climbers;
 and alongside the
long-famous Inca cities of Cuzco and Machu Picchu are doz
ens of less
familiar sites and less renowned cultures.
Adventure tourism is 
also growing. Paragliding and bungee-jumping have
caught on, while opportuni
ties abound for white-water rafting, some as
little as two hours away from L
ima. Peru's Pacific rollers draw surfers from
many countries.
While convince
d that development of tourism must be a matter for the private
sector, the g
overnment is doing what it can to provide the bases for growth.
Deregulation
 of domestic airways has already spawned a clutch of small
airline companies
 which have inaugurated new air services to a number of
hitherto remote prov
incial towns. And the transport ministry has made a
priority of asphalting s
tretches of roads leading to tourist attractions.
Outside Lima, hotel infras
tructure leaves much to be desired. But investment
has already begun. The di
scovery of the tomb of the Lord of Sipan led
directly to the construction of
 three new hotels in the nearby coastal city
of Chiclayo. And El Libertador,
 Cuzco's leading hotel, is expanding capacity
from 130 rooms to 250 in antic
ipation of a tourist boom.
South Korean hoteliers are reported to be taking 
a close look at investment
opportunities in Cuzco. Their government has offe
red Peru Dollars 18m to
rehabilitate the city's airport and feasibility stud
ies are under way. One
prime hotel property which could soon become availabl
e is the former
monastery of San Antonio Abad, owned by Cuzco's archbishopri
c. Dollars 4m
has already been spent on it.
The government and Canatur would
 like to see cities such as Ayacucho - most
famous as the cradle of Maoist g
uerrilla movement Shining Path, but also one
of Peru's loveliest colonial to
wns - become tourist centres. Official
estimates are that the average touris
t spends Dollars 1,200 in a week's
stay, a potentially huge boost to nationa
l and local economies.
'The first tourists will be guinea-pigs, of course,' 
admits Mr Arrarte.
'They'll be roughing it a bit, but that's how it always s
tarts. I bet we
find some very happy pioneers for Ayacucho.'
One opportunity
 to 'sell' Peru falls on November 4 next year, when a total
solar eclipse wi
ll be visible from the southern Peruvian coast. All 5,000
available hotel be
ds in the area have already been reserved by international
travel agencies.

'When those people come, visit a few other places, go home safe and happy
an
d tell their friends, it'll be the best promotion we've had for years,'
says
 Mr Arrarte. it
</TEXT>
<XX>
Countries:-
</XX>
<CN>PEZ  Peru, South America.

</CN>
<XX>
Industries:-
</XX>
<IN>P79   Amusement and Recreation Services.

    P7011 Hotels and Motels.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment & An
alysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page XI </PAGE>

</DOC>

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<DOC>
<DOCNO>FT944-10637</DOCNO>
<PROFILE>_AN-EKIEIAHVFT</PROFILE>
<DATE>941
109
</DATE>
<HEADLINE> FT  09 NOV 94 / Survey of Bolivia (29): Lots of attra
ctions - Tourism </HEADLINE>
<BYLINE>    By RAYMOND COLITT </BYLINE>
<TEXT>

Tourism may well have the largest potential for growth of any industry in
Bo
livia. At least that is the way the government sees it.
A plan to develop to
urism - the first in the history of Bolivia according to
government official
s - aims to boost industry income from Dollars 115m at
present to Dollars 1b
n within a decade. Instead of the present 265,000
visitors a year close to 1
m are to be enticed to the country.
'We want more tourists; have them stay l
onger; spend more money; and speak
well of our country when they leave,' say
s Mr Ricardo Rojas, secretary of
tourism.
'If you look at other countries th
at have been successful in tourism, you'll
notice that they've focused on a 
few well-targeted, key development
projects,' says Mr Rojas. A new tourism l
aw, which the government hopes to
have approved by March 1995, will provide 
long-term tax exemptions to
attract foreign investment to several so-called 
'mega-projects.'
In exchange for foreign capital, the government pledges to 
provide the basic
infrastructure for a project, train the personnel, and pro
mote tourism
abroad. A list of proposed sites is to be made known shortly.
T
he government is aware that it faces a challenging task. Not only is there
a
n enormous information deficit about Bolivia among international tour
operat
ors, but it also suffers from an image problem - that of a politically
unsta
ble and drug-ridden country.
Many tourists still only visit Bolivia as part 
of a two- or three-country
tour. 'We get many tourists venturing into Bolivi
a on a brief excursion
following an extensive tour of Peru: that needs to ch
ange,' says the manager
of a leading tour operator.
As part of its promotion
al activities, the government inaugurated a tourist
office in New York on Au
gust 1 and plans to open others in Spain and Germany
by next year. A toll-fr
ee information line is operating in the US, and
Bolivia plans to attend inte
rnational tourism fairs, including the World
Travel Market in London between
 November 14 and 17.
The image which the government will be trying to sell t
o the public is that
of a safe and cheap country boasting enormous diversity
 and friendly people.
One promotional brochure says that 'Bolivia is the new
 undiscovered tourist
destination' and that 'Bolivia is definitely the last 
frontier' for those
seeking ancient cultures or ecological adventure.
The po
tential exists. Tourist attractions in Bolivia abound. Only an 1 1/2
hours f
rom La Paz, for example, are the crystal-clear waters of Lake
Titicaca, 4,00
0m above sea level and fed by the melting waters of the
snow-capped peaks of
 the Cordillera Real, which forms a breath-taking
backdrop.
On the island of
 Paco, the villagers of Suriki demonstrate their skills in
constructing bals
as, or reed canoes, which the Norwegian explorer Thor
Heyerdahl used in his 
voyages and which the Spanish adventurer Kitin Munoz
is soon to take on a wo
rld tour.
Nearby, Tiwanaku is probably Bolivia's most important archaeologic
al site,
featuring monumental stone figures and the so-called Sun Gate, whic
h give
testimony to what was once the capital of one of the world's
longest-
reigning empires.
The pre-Incan Tiwanaku civilisation, famed for advanced ag
ricultural systems
that are now being revived, is said to have had significa
nt cultural
influence on the subsequently larger Inca empire.
Opportunities 
for mountain climbing or trekking are numerous near La Paz.
Peaks such as th
e Ilimani or Huayna Potosi, rising over 6,300m are easily
accessible and can
 be climbed in two days. Stone-paved Inca trails, still
employed by farmers 
and their produce-laden llamas, are ideal for treks
through the Andean mount
ains.
A trip out to Bolivia's Amazon region is worthwhile. Visitors can see 
Jesuit
missions some 220km north-east of Santa Cruz in the middle of the tro
pical
rain forest.
Missionaries from Bavaria, Switzerland and Bohemia went t
here in the early
17th century to convert the Chiquitano Indians to Christia
nity and train
them as musicians and artisans.
Today, half a dozen of the wo
rld's most unique churches make the story of
The Mission come alive. They st
ill serve as community centres for thousands
Chiquitanos.
Eastern Bolivia, w
ith its rich biodiversity has enormous potential for
eco-tourism. A large nu
mber of local bird species, among them the
blue-throated or red-fronted maca
ws, make it an ornithologist's paradise.
Access to, and facilities within, t
he country's protected areas - which
boast a wealth of natural beauty - are 
rather limited, however.
A lack of infrastructure is also evident at other t
ourist sites such as
Samaipata, which features important vestiges of an Amaz
on tribe in the
Andean foothills but is still rather unprotected and unexplo
red.
</TEXT>
<XX>
Countries:-
</XX>
<CN>BOZ  Bolivia, South America.
</CN>
<
XX>
Industries:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
    P9611 Ad
ministration of General Economic Programs.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT
  Comment & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Pa
ge XI </PAGE>
</DOC>

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<DOC>
<DOCNO>FT934-7733</DOCNO>
<PROFILE>_AN-DKRC7AGVFT</PROFILE>
<DATE>9311
18
</DATE>
<HEADLINE> FT  18 NOV 93 / Survey of South Africa - Open for inve
stment (20): Playground for visitors - Tourism </HEADLINE>
<BYLINE>    By TO
NY HAWKINS </BYLINE>
<TEXT>
ONE industry where South Africa seems certain to
 develop a competitive
advantage is leisure. Even under sanctions and with h
igh levels of violence
and political uncertainty, it is the continent's seco
nd largest tourist
industry, accounting for almost 20 per cent of regional t
ourist income, more
than double Kenya's 9.6 per cent. In 1991, Morocco heade
d the African league
with 24 per cent of tourist revenue.
Globally, South Af
rica is a tiny player accounting for less than 0.25 per
cent of the internat
ional tourist business. Excluding African visitors,
there were some 560,000 
tourist arrivals last year, the bulk of whom (70 per
cent) came from Europe,
 with the UK as the main market (26 per cent)
followed by Germany (16 per ce
nt) and the US (9 per cent). With a growth
rate of 18,5 per cent in 1992, th
e Asian market - especially Taiwan (4 per
cent) and Japan (1.5 per cent) - i
s becoming increasingly important. Growth
accelerated in the first seven mon
ths of 1993 with the number of arrivals
increasing 12.7 per cent.
Overseas t
ourists spend an estimated R4,800 (Dollars 1,750) per visit
(excluding air f
ares to and from the country) and the industry earned
R2.75bn (Dollars 1bn) 
in foreign exchange in 1991, making it the fourth
largest foreign currency e
arner, after manufactures, gold and other
minerals.
Aside from the lifting o
f sanctions, the main factor making for tourism
growth at a time of global r
ecession has been the liberalisation of the
aviation policies and the expans
ion of air traffic capacity. In the past
three years, 18 new airlines have s
tarted services to South Africa.
A more market-driven aviation policy has re
sulted in more competitive market
prices and the opening up of the charter m
arket. The number of tour
operators has more than doubled, while government 
has become more active in
tourism promotion allowing accelerated tax write-o
ffs for the accommodation
industry, a R600m (Dollars 180m) loan programme fo
r Eco-tourism projects and
support schemes for small entrepreneurs.
On the d
ebit side, tourist perceptions of personal safety in South Africa
have deter
iorated markedly. In January 1990, some 70 per cent of overseas
visitors rat
ed the safety factor in South Africa good but by January this
year, this rat
ing had fallen below 30 per cent.
The government's target is to more than tr
eble the number of arrivals by
2000 reaching 1.75m visitors earning some R24
bn in foreign exchange. With
hotels operating at below 50 per cent of bed-ni
ght capacity, there is
considerable scope for expansion without significant 
new investment in
hotels.
Nevertheless, three leading global players - Hilto
n, Hyatt and Sheraton -
have expressed interest in opening up in South Afric
a.
</TEXT>
<XX>
Countries:-
</XX>
<CN>ZAZ  South Africa, Africa.
</CN>
<XX>

Industries:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
    P9611 Admini
stration of General Economic Programs.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Co
mment & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 4
0 </PAGE>
</DOC>

============= Transaction # 213 ==============================================
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<DOC>
<DOCNO>FT924-2554</DOCNO>
<PROFILE>_AN-CLKB5AGLFT</PROFILE>
<DATE>9212
11
</DATE>
<HEADLINE> FT  11 DEC 92 / Survey of Ecuador (8): Potential earni
ngs enormous - The government's plans aim to turn tourism into the country's
 biggest industry </HEADLINE>
<BYLINE>    By RAYMOND COLITT </BYLINE>
<TEXT>

With the intent of forging tourism into the number one economic activity of

the country, the nearly four-month-old government of president Sixto Duran

Ballen is etching out, for the first time in Ecuador's history, a long-term

development plan for the industry.
An indication of his commitment is that t
he president has formed a ministry
of tourism and information which is to re
vise applicable laws, promote
tourism abroad and co-ordinate the industry's 
development.
Tourism ranks fourth after petroleum, bananas, and shrimp in th
e generation
of foreign currency. In 1991 the tourist industry itself genera
ted nearly
Dollars 200m in direct revenues, but its impact on the rest of th
e economy
is estimated to be three times as big. In the same year approximat
ely
380,000 visitors came to the country, of which 40 per cent came from
Col
ombia, 18 per cent from the US, 17 per cent from Europe and 11 per cent
from
 Peru.
According to CETUR, the government's tourist agency and now technical
 arm of
the ministry, Ecuador's tourism industry in 1991 had a lodging capac
ity of
58,000 travellers and employed approximately 35,000 workers. Of the 1
,400
hotels, hostels and pensions to choose from in the country only roughly
 a
dozen can be considered first class.
The biggest tourist attraction in Ec
uador has been and continues to be the
Galapagos Archipelago. More than 40,0
00 visitors came to see exotic
penguins, the famous giant tortoises or tree-
sized sunflowers last year.
Boat cruise operators are putting pressure on th
e government to increase the
permissible number of visitors.
Yet the Charles
 Darwin Foundation, charged with conducting research and
aiding in environme
ntal protection, warns that the islands' delicate
ecosystem is already being
 overtaxed by the number of visitors.
However, the potential for tourism to 
grow in mainland Ecuador is enormous
say industry analysts and travel entrep
reneurs. 'Ecuador has more', has been
the slogan with which the private sect
or has sought to promote areas other
than the Galapagos.
Ecuador's immense g
eographical and cultural diversity indeed make it a
traveller's paradise. Be
aches, snow-capped volcanoes, Indian markets, quaint
colonial towns and Amaz
on rainforest can all be reached in little more than
an hour's journey from 
Quito.
A favourable exchange rate makes Ecuador an inexpensive country for m
ost
foreigners. In addition, the country's political stability gives it an
a
dvantage over its neighbours Peru and Colombia, where the governments are
st
ill battling against leftist insurgents.
'The potential has always been ther
e,' says Mr Eduardo Proano president of
Metropolitan Touring, Ecuador's larg
est tour operator. 'But in the past the
government's efforts to promote tour
ism abroad have been minimal. Tourism
has been largely a private-sector acti
vity.'
According to Mr Patrick Barrera of the private sector trade associati
on
Feprotur, the key to developing Ecuador's tourist potential is to further

engage in eco-tourism - the branch of the industry that offers the country'
s
natural beauty and diversity, while simultaneously protecting it.
Ecuador 
has already been practicing organised eco-tourism not only in the
Galapagos 
but also in the Amazon region. Metropolitan Touring has been
operating a lux
ury boat cruise on the Napo and Aguarico rivers for 18 years
and now offers 
a range of holiday packages to the area.
As well as allowing visitors to vie
w the unspoiled flora and fauna of the
Amazon jungle in Cuyabeno national re
serve in north-eastern Ecuador, nature
guides on board educate tourists on t
he importance of conserving the
wildlife they have come to see.
Eco-tourism 
not only provides local communities with an alternative to
farming and hunti
ng, but the fee that foreigners have to pay to enter the
national parks help
s finance the park management, which is still inadequate.
How tourism affect
s the behaviour of indigenous groups in these remote areas
remains to be see
n. Yet in Cuyabeno the Cofan tribe, which illustrates the
Amazon's medicinal
 plants and sells handicrafts to tourists, seems to be
benefiting from the i
nflux of visitors.
One of the areas that the government and Metropolitan Tou
ring are developing
for eco-tourism is the national park Machalilla, on Ecua
dor's central coast.
Machalilla not only includes a tropical dry forest, a c
loud forest and the
island La Plata with bird life like that of the Galapago
s islands - the bird
count actually exceeds that of Galapagos - but it also 
harbours
archeological sights of one of the oldest civilisations in the Amer
icas.
With the help of a three-year development plan designed by Feprotur, t
he
government seeks to provide the necessary infrastructure to allow organis
ed
tours to operate in the park.
According to the plan the park will be spar
ed grand-scale hotel complexes
which might endanger the delicate balance of 
the ecosystem. Rather the
facilities - including visitors centres and hiking
 paths - are to blend in
with the environment as much as possible. Negotiati
ons to finance the
project are under way with private and institutional inve
stors, including
foreign ones.
Not only is eco-tourism a reasonable strategy
 because of the type of natural
resources Ecuador offers, it is also reasona
ble because of its low cost and
relatively short implementation time. The pl
an to develop Machalilla Park,
for example, is estimated to cost Dollars 150
,000. With these types of
projects Mr Carlos Solorzano, the sub-secretary of
 tourism, expects positive
results in the short to medium range.
With the re
form of the foreign investment law under way, Mr Solorzano hopes
the tourist
 industry will attract enough capital to develop other potential
tourists si
tes, especially in the hotel sector. The government is also
exploring the po
ssibility of converting the country's foreign debt into what
would amount to
 'debt-for-tourism swaps'. Such financial mechanisms have
already been emplo
yed in Mexico and Venezuela.
One of the main activities of the newly created
 ministry is to promote
Ecuador as a tourist destination abroad. According t
o Mr Solorzano the
government intends to collaborate closely with Feprotur, 
which already
operates a promotional office in Miami.
Yet the success of eco
-tourism in the long run will depend on the ability of
the government to man
age the diverging demands that exist on Ecuador's
natural resources. Miners,
 loggers and settlers are invading parks and other
protected areas at an ala
rming rate, thus endangering the very asset of
eco-tourism - the country's e
cological diversity and natural beauty.
</TEXT>
<PUB>The Financial Times </P
UB>
<PAGE> London Page 36 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT942-16044</DOCNO>
<PROFILE>_AN-EDLEUAGBFT</PROFILE>
<DATE>940
412
</DATE>
<HEADLINE> FT  12 APR 94 / Survey of Slovenia (8): Lunch on the 
family farm - The tourist industry wants Slovenia reinstated as a holiday de
stination </HEADLINE>
<BYLINE>    By LAURA SILBER </BYLINE>
<TEXT>
Swimming 
pools, horseback riding, tennis courts - all these and more can be
enjoyed a
t more than 100 farms open to holiday-makers in Slovenia, writes
Laura Silbe
r.
Take, for example, the Vhrovec family farm, tucked into a hillside in
Iva
ncna Gorica, in the heart of Slovenia. The farm boasts scenic walks,
horse-d
rawn carriage rides, or a visit to the nearby 12th century Sticna
monastery.
 In the cosy dining room, heated by a porcelain stove, young Ms
Damjana Vrho
vec offers her guests home-made wine and schnapps before her
mother, Majda, 
finishes cooking lunch.
Farm tourism has been popular for years. 'We can giv
e visitors whatever they
want - single guests, city families who want to lea
rn about life on a farm,
elderly couples who have come for the scenery and e
xcellent food,' says Mr
Gregor Bogataj, representative for Vas, a co-operati
ve tourist agency
founded by farmers.
Farms dot Slovenia's varied countrysid
e, which sweeps down from the Julian
Alps over valleys and plains to the Adr
iatic coast. Gorenjska, the Alpine
region, with glacial lakes and evergreen 
forest, offers outdoor pursuits
from mountaineering to golf. Stajerska, to t
he east, is renowned for wine,
beer, and its rejuvenating thermal springs. P
rimorska, hugging 46km of
Adriatic coastline, has haunting karst limestone c
aves.
But in spite of the magnificent scenery, some in the tourist industry

complain that the country's 100,000 beds are not fully booked except at the

height of the summer season; they want to reinstate Slovenia as a travel
des
tination for foreign tour operators.
Before the break-up of Yugoslavia, Slov
enia was a stop for coach tours en
route from Venice to Vienna. Hotel capaci
ty was filled as groups headed for
holidays in Dubrovnik or other favourite 
spots on Croatia's Dalmatian coast.
But Slovenia disappeared from the travel
 brochures after the 10-day war
against the Yugoslav army, followed by indep
endence in June 1991.
It has been difficult to erase those images of violenc
e, or to convince
prospective foreign tourists that the internecine fighting
 further south is
far away enough for them to be completely safe in Slovenia
. Mr Janez
Repansek, an adviser to the government on tourism, says: 'Unfortu
nately
geography is not most people's strongest subject. Many have trouble l
ocating
Slovenia on the map . . . we still must convince them that Slovenia 
is no
longer part of former Yugoslavia.' And he adds: 'Even our crime rate i
s
below the European average.'
In spite of these difficulties, tourism in 19
93 earned Dollars 800m in hard
currency - the largest single earner (taking 
into account private
transactions). Foreigners accounted for Dollars 1.6m ou
t of 5.3m nights last
year, a 25 per cent increase over 1992. Mr Repansek sa
ys: 'It is slowly
changing for the better. Foreign guests who come here real
ise there is
nothing unusual - no war, no soldiers and no refugees. They fin
d they are on
holiday in a normal central European country,' His job is to r
eassure tour
operators that Slovenia is a high quality product offering good
 value.
'British tour operators have promised to come back. They say it is n
ot a
question of improving the product - they are waiting for their clients 
to be
ready to come.'
Meanwhile, plans are under consideration to establish 
a five-star hotel in
Ljubljana, the capital, which is built on the ruins of 
the Roman city of
Emona, where the river Ljubljanica flows past baroque spir
es. Adria, the
national carrier, has resumed daily flights from London.
Tour
ist officials also smile delightedly at Slovenia's medal-winning
performance
s at the winter Olympics in Lillehammer. They regard these as the
best promo
tion for Slovenia's winter sports, where tourists can choose
between the uns
poilt Alps, the birch forests of the southern Bela Krajina
region and Lipica
, the village where the famous Lippizaner horses were
originally bred.
But i
f foreigners really want to enjoy Slovenia, the best holiday is on a
farm. T
he Vrhovec family and dozens of others will be waiting to offer warm
plates 
of struklji (a Slovene crepe, prepared in some 70 different sweet or
savoury
 ways), and cellars filled with bottles of home-brewed wine.
</TEXT>
<XX>
Co
untries:-
</XX>
<CN>SLZ  Sierra Leone, Africa.
</CN>
<XX>
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<IN>P7999 Amusement and Recreation, NEC.
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<TP>CMMT 
 Comment & Analysis.
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<PUB>The Financial Times </PUB>
<PAGE> London Pag
e 33 </PAGE>
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<DOC>
<DOCNO>FT942-16044</DOCNO>
<PROFILE>_AN-EDLEUAGBFT</PROFILE>
<DATE>940
412
</DATE>
<HEADLINE> FT  12 APR 94 / Survey of Slovenia (8): Lunch on the 
family farm - The tourist industry wants Slovenia reinstated as a holiday de
stination </HEADLINE>
<BYLINE>    By LAURA SILBER </BYLINE>
<TEXT>
Swimming 
pools, horseback riding, tennis courts - all these and more can be
enjoyed a
t more than 100 farms open to holiday-makers in Slovenia, writes
Laura Silbe
r.
Take, for example, the Vhrovec family farm, tucked into a hillside in
Iva
ncna Gorica, in the heart of Slovenia. The farm boasts scenic walks,
horse-d
rawn carriage rides, or a visit to the nearby 12th century Sticna
monastery.
 In the cosy dining room, heated by a porcelain stove, young Ms
Damjana Vrho
vec offers her guests home-made wine and schnapps before her
mother, Majda, 
finishes cooking lunch.
Farm tourism has been popular for years. 'We can giv
e visitors whatever they
want - single guests, city families who want to lea
rn about life on a farm,
elderly couples who have come for the scenery and e
xcellent food,' says Mr
Gregor Bogataj, representative for Vas, a co-operati
ve tourist agency
founded by farmers.
Farms dot Slovenia's varied countrysid
e, which sweeps down from the Julian
Alps over valleys and plains to the Adr
iatic coast. Gorenjska, the Alpine
region, with glacial lakes and evergreen 
forest, offers outdoor pursuits
from mountaineering to golf. Stajerska, to t
he east, is renowned for wine,
beer, and its rejuvenating thermal springs. P
rimorska, hugging 46km of
Adriatic coastline, has haunting karst limestone c
aves.
But in spite of the magnificent scenery, some in the tourist industry

complain that the country's 100,000 beds are not fully booked except at the

height of the summer season; they want to reinstate Slovenia as a travel
des
tination for foreign tour operators.
Before the break-up of Yugoslavia, Slov
enia was a stop for coach tours en
route from Venice to Vienna. Hotel capaci
ty was filled as groups headed for
holidays in Dubrovnik or other favourite 
spots on Croatia's Dalmatian coast.
But Slovenia disappeared from the travel
 brochures after the 10-day war
against the Yugoslav army, followed by indep
endence in June 1991.
It has been difficult to erase those images of violenc
e, or to convince
prospective foreign tourists that the internecine fighting
 further south is
far away enough for them to be completely safe in Slovenia
. Mr Janez
Repansek, an adviser to the government on tourism, says: 'Unfortu
nately
geography is not most people's strongest subject. Many have trouble l
ocating
Slovenia on the map . . . we still must convince them that Slovenia 
is no
longer part of former Yugoslavia.' And he adds: 'Even our crime rate i
s
below the European average.'
In spite of these difficulties, tourism in 19
93 earned Dollars 800m in hard
currency - the largest single earner (taking 
into account private
transactions). Foreigners accounted for Dollars 1.6m ou
t of 5.3m nights last
year, a 25 per cent increase over 1992. Mr Repansek sa
ys: 'It is slowly
changing for the better. Foreign guests who come here real
ise there is
nothing unusual - no war, no soldiers and no refugees. They fin
d they are on
holiday in a normal central European country,' His job is to r
eassure tour
operators that Slovenia is a high quality product offering good
 value.
'British tour operators have promised to come back. They say it is n
ot a
question of improving the product - they are waiting for their clients 
to be
ready to come.'
Meanwhile, plans are under consideration to establish 
a five-star hotel in
Ljubljana, the capital, which is built on the ruins of 
the Roman city of
Emona, where the river Ljubljanica flows past baroque spir
es. Adria, the
national carrier, has resumed daily flights from London.
Tour
ist officials also smile delightedly at Slovenia's medal-winning
performance
s at the winter Olympics in Lillehammer. They regard these as the
best promo
tion for Slovenia's winter sports, where tourists can choose
between the uns
poilt Alps, the birch forests of the southern Bela Krajina
region and Lipica
, the village where the famous Lippizaner horses were
originally bred.
But i
f foreigners really want to enjoy Slovenia, the best holiday is on a
farm. T
he Vrhovec family and dozens of others will be waiting to offer warm
plates 
of struklji (a Slovene crepe, prepared in some 70 different sweet or
savoury
 ways), and cellars filled with bottles of home-brewed wine.
</TEXT>
<XX>
Co
untries:-
</XX>
<CN>SLZ  Sierra Leone, Africa.
</CN>
<XX>
Industries:-
</XX>

<IN>P7999 Amusement and Recreation, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT 
 Comment & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Pag
e 33 </PAGE>
</DOC>

============= Transaction # 216 ==============================================
Transaction #:    216       Transaction Code:  22 (Record(s) Saved)        

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT942-16044</DOCNO>
<PROFILE>_AN-EDLEUAGBFT</PROFILE>
<DATE>940
412
</DATE>
<HEADLINE> FT  12 APR 94 / Survey of Slovenia (8): Lunch on the 
family farm - The tourist industry wants Slovenia reinstated as a holiday de
stination </HEADLINE>
<BYLINE>    By LAURA SILBER </BYLINE>
<TEXT>
Swimming 
pools, horseback riding, tennis courts - all these and more can be
enjoyed a
t more than 100 farms open to holiday-makers in Slovenia, writes
Laura Silbe
r.
Take, for example, the Vhrovec family farm, tucked into a hillside in
Iva
ncna Gorica, in the heart of Slovenia. The farm boasts scenic walks,
horse-d
rawn carriage rides, or a visit to the nearby 12th century Sticna
monastery.
 In the cosy dining room, heated by a porcelain stove, young Ms
Damjana Vrho
vec offers her guests home-made wine and schnapps before her
mother, Majda, 
finishes cooking lunch.
Farm tourism has been popular for years. 'We can giv
e visitors whatever they
want - single guests, city families who want to lea
rn about life on a farm,
elderly couples who have come for the scenery and e
xcellent food,' says Mr
Gregor Bogataj, representative for Vas, a co-operati
ve tourist agency
founded by farmers.
Farms dot Slovenia's varied countrysid
e, which sweeps down from the Julian
Alps over valleys and plains to the Adr
iatic coast. Gorenjska, the Alpine
region, with glacial lakes and evergreen 
forest, offers outdoor pursuits
from mountaineering to golf. Stajerska, to t
he east, is renowned for wine,
beer, and its rejuvenating thermal springs. P
rimorska, hugging 46km of
Adriatic coastline, has haunting karst limestone c
aves.
But in spite of the magnificent scenery, some in the tourist industry

complain that the country's 100,000 beds are not fully booked except at the

height of the summer season; they want to reinstate Slovenia as a travel
des
tination for foreign tour operators.
Before the break-up of Yugoslavia, Slov
enia was a stop for coach tours en
route from Venice to Vienna. Hotel capaci
ty was filled as groups headed for
holidays in Dubrovnik or other favourite 
spots on Croatia's Dalmatian coast.
But Slovenia disappeared from the travel
 brochures after the 10-day war
against the Yugoslav army, followed by indep
endence in June 1991.
It has been difficult to erase those images of violenc
e, or to convince
prospective foreign tourists that the internecine fighting
 further south is
far away enough for them to be completely safe in Slovenia
. Mr Janez
Repansek, an adviser to the government on tourism, says: 'Unfortu
nately
geography is not most people's strongest subject. Many have trouble l
ocating
Slovenia on the map . . . we still must convince them that Slovenia 
is no
longer part of former Yugoslavia.' And he adds: 'Even our crime rate i
s
below the European average.'
In spite of these difficulties, tourism in 19
93 earned Dollars 800m in hard
currency - the largest single earner (taking 
into account private
transactions). Foreigners accounted for Dollars 1.6m ou
t of 5.3m nights last
year, a 25 per cent increase over 1992. Mr Repansek sa
ys: 'It is slowly
changing for the better. Foreign guests who come here real
ise there is
nothing unusual - no war, no soldiers and no refugees. They fin
d they are on
holiday in a normal central European country,' His job is to r
eassure tour
operators that Slovenia is a high quality product offering good
 value.
'British tour operators have promised to come back. They say it is n
ot a
question of improving the product - they are waiting for their clients 
to be
ready to come.'
Meanwhile, plans are under consideration to establish 
a five-star hotel in
Ljubljana, the capital, which is built on the ruins of 
the Roman city of
Emona, where the river Ljubljanica flows past baroque spir
es. Adria, the
national carrier, has resumed daily flights from London.
Tour
ist officials also smile delightedly at Slovenia's medal-winning
performance
s at the winter Olympics in Lillehammer. They regard these as the
best promo
tion for Slovenia's winter sports, where tourists can choose
between the uns
poilt Alps, the birch forests of the southern Bela Krajina
region and Lipica
, the village where the famous Lippizaner horses were
originally bred.
But i
f foreigners really want to enjoy Slovenia, the best holiday is on a
farm. T
he Vrhovec family and dozens of others will be waiting to offer warm
plates 
of struklji (a Slovene crepe, prepared in some 70 different sweet or
savoury
 ways), and cellars filled with bottles of home-brewed wine.
</TEXT>
<XX>
Co
untries:-
</XX>
<CN>SLZ  Sierra Leone, Africa.
</CN>
<XX>
Industries:-
</XX>

<IN>P7999 Amusement and Recreation, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT 
 Comment & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Pag
e 33 </PAGE>
</DOC>

============= Transaction # 217 ==============================================
Transaction #:    217       Transaction Code:  14 (Search Results Displayed)

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
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============= Transaction # 218 ==============================================
Transaction #:    218       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT934-9708</DOCNO>
<PROFILE>_AN-DKIC6AF4FT</PROFILE>
<DATE>9311
09
</DATE>
<HEADLINE> FT  09 NOV 93 / Survey of Australia (2): A place in th
e Pacific sun - Tourism </HEADLINE>
<BYLINE>    By BRUCE JACQUES </BYLINE>
<
TEXT>
INTERNATIONAL tourism has emerged from near obscurity to become one of

Australia's fastest growing industries in the past decade, but it heads
tow
ards 1994 in a state of dichotomy. Although the industry is one of the
few d
efying world recession with solid growth rates, tourism remains
hazardous gr
ound for investors, writes Bruce Jacques.
This reflects a 'two-speed' growth
 record in the past decade which has left
substantial imbalances in infrastr
ucture, sapped confidence and increased
the perceived risk of tourism invest
ment. But there are signs, boosted by
Sydney's successful bid to host the 20
00 Olympics, that tourism is set for a
period of accelerated new growth.
Int
ernational tourism burst on to an unsuspecting Australia amid the
financial 
boom of the mid 1980s, with overseas visits jumping nearly 200 per
cent to 2
.25m in the half decade to 1988. Figures just released confirm that
growth i
n the half decade since has been a more modest 28 per cent for
visits of jus
t under 2.8m in 1992-93.
This growth volatility has left some bad investment
 decisions in its wake.
Real estate estimates suggest that almost 10 per cen
t of the nation's three,
four and five star accommodation properties are now
 either in receivership
or under the administration of their banks. That is 
almost 70 properties,
covering about 10,000 rooms - enough to give pause to 
any investor.
Several other factors have added to the industry's roller coas
ter feel,
including:
the Federal Government's deregulation of the aviation i
ndustry and
subsequent heavy losses and rationalisation among the country's 
airlines;
the unique double failure of Compass Airlines - the new market ent
rant that
was touted as giving meaning to deregulation; and
postponement of 
the public float of Qantas, the country's international
carrier, from which 
the Federal Government hopes to raise more than ADollars
1.5bn.
But just as 
investors were caught by overestimating the industry's growth,
there are sig
ns that those who continue to retreat will miss the next cycle.
Christopher 
Brown, executive director of tourism's umbrella body, Tourism
Task Force, be
lieves some hard lessons have been learned.
target more rapid growth.
'You h
ave to remember we've only been in the international tourism business
in a b
ig way for just over a decade,' Mr Brown says. 'What we had in the
1980s was
 a marketing-led rather than product-led boom. Some of our early
marketing c
ampaigns (notably the Paul Hogan 'shrimp on the barbie'
advertisements) were
 among the best in the world. But events since have
shown that the industry 
wasn't really able to handle the boom in overseas
tourists that followed.'
M
r Brown believes the industry tried to become too sophisticated too early.
'
We thought we had achieved worldwide awareness, but we now know we didn't.
B
ut the result is that, although some of it is under-utilised, we now have
so
me of the world's best tourism infrastructure.'
Mr Brown says that with the 
Olympics and increased government recognition
and funding for tourism, the i
ndustry is now targeting an annual rate of
around 7.5m overseas arrivals by 
2000. The target would have been around 6m
without the Olympics, but both ai
ms are considerably higher than estimates
of 4.8m arrivals by the government
 funded Bureau of Tourism Research (BTR).
While any of these estimates sugge
sts strong growth, the industry still has
a task ahead in educating investor
s. Mr Brown says banks and institutions
are still far less adept at assessin
g investments in tourism than other
sectors. That ranks as a serious oversig
ht given the scale of the industry.
While tourism is often proudly promoted 
as Australia's biggest export
earner, that description understates its econo
mic importance. If the
international and domestic tourism components are tak
en together, the
industry is arguably Australia's biggest.
Judging by BTR fi
gures, no investment institution of any standing can afford
not to have expo
sure to the industry. The BTR publication, Tourism and the
Economy, calculat
ed that tourism accounted for 465,000 jobs, 5.6 per cent of
the country's gr
oss domestic product and 10 per cent of its foreign exchange
earnings in 199
2.
The BTR figures showed that domestic tourism expenditure, at ADollars
18.
4bn, was almost 2.4 times the size of its international counterpart at
ADoll
ars 7.7bn, for respective GDP contributions of 3.8 and 1.8 per cent.
Latest 
estimates suggest that in 1993 domestic tourism expenditure will
exceed ADol
lars 22bn, with international expenditure rising to ADollars
8.6bn.
Perhaps 
the clincher for the tourism industry in its push for a larger share
of inve
stment funds lies in Australia's geographic location. Leading
stockbrokers A
NZ McCaughan (AM) put the case well in a recent publication,
urging investme
nt in Australian air lines.
'Australia is positioned on the edge of the fast
est-growing tourism region
in the world - the Asia/Pacific,' AM analysts sai
d. 'By the Year 2000, the
Asia/Pacific region with a 39 per cent share, is e
xpected to dominate the
world's international air traffic.
'The other two ma
jor regions will be Europe (26 per cent) and North America
(23 per cent). Fo
r the remainder of the 1990s air travel in the Asia/Pacific
region is expect
ed to grow by an average 9.4 per cent a year, almost twice
as fast as the US
 (4.9 per cent) and far faster than Europe (5.5 per cent).'
AM quoted a BTR 
break down forecasting that the proportion of Asia/Pacific
tourists visiting
 Australia will rise from 43 to almost 50 per cent by 2000.
'Japan, Asia, th
e US and Europe will be the key inbound markets by the year
2000,' AM said. 
'The proximity of these countries to Australia, together
with relaxation of 
institutional constraints on travel, .. augurs well for
larger visitor numbe
rs.'
</TEXT>
<XX>
Countries:-
</XX>
<CN>AUZ  Australia.
</CN>
<XX>
Industrie
s:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
</IN>
<XX>
Types:-
</XX>

<TP>CMMT  Comment & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> L
ondon Page I </PAGE>
</DOC>

============= Transaction # 219 ==============================================
Transaction #:    219       Transaction Code:  19 (Record Selected)        

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Associated Variable Length Text:

<DOC>
<DOCNO>FT934-9708</DOCNO>
<PROFILE>_AN-DKIC6AF4FT</PROFILE>
<DATE>9311
09
</DATE>
<HEADLINE> FT  09 NOV 93 / Survey of Australia (2): A place in th
e Pacific sun - Tourism </HEADLINE>
<BYLINE>    By BRUCE JACQUES </BYLINE>
<
TEXT>
INTERNATIONAL tourism has emerged from near obscurity to become one of

Australia's fastest growing industries in the past decade, but it heads
tow
ards 1994 in a state of dichotomy. Although the industry is one of the
few d
efying world recession with solid growth rates, tourism remains
hazardous gr
ound for investors, writes Bruce Jacques.
This reflects a 'two-speed' growth
 record in the past decade which has left
substantial imbalances in infrastr
ucture, sapped confidence and increased
the perceived risk of tourism invest
ment. But there are signs, boosted by
Sydney's successful bid to host the 20
00 Olympics, that tourism is set for a
period of accelerated new growth.
Int
ernational tourism burst on to an unsuspecting Australia amid the
financial 
boom of the mid 1980s, with overseas visits jumping nearly 200 per
cent to 2
.25m in the half decade to 1988. Figures just released confirm that
growth i
n the half decade since has been a more modest 28 per cent for
visits of jus
t under 2.8m in 1992-93.
This growth volatility has left some bad investment
 decisions in its wake.
Real estate estimates suggest that almost 10 per cen
t of the nation's three,
four and five star accommodation properties are now
 either in receivership
or under the administration of their banks. That is 
almost 70 properties,
covering about 10,000 rooms - enough to give pause to 
any investor.
Several other factors have added to the industry's roller coas
ter feel,
including:
the Federal Government's deregulation of the aviation i
ndustry and
subsequent heavy losses and rationalisation among the country's 
airlines;
the unique double failure of Compass Airlines - the new market ent
rant that
was touted as giving meaning to deregulation; and
postponement of 
the public float of Qantas, the country's international
carrier, from which 
the Federal Government hopes to raise more than ADollars
1.5bn.
But just as 
investors were caught by overestimating the industry's growth,
there are sig
ns that those who continue to retreat will miss the next cycle.
Christopher 
Brown, executive director of tourism's umbrella body, Tourism
Task Force, be
lieves some hard lessons have been learned.
target more rapid growth.
'You h
ave to remember we've only been in the international tourism business
in a b
ig way for just over a decade,' Mr Brown says. 'What we had in the
1980s was
 a marketing-led rather than product-led boom. Some of our early
marketing c
ampaigns (notably the Paul Hogan 'shrimp on the barbie'
advertisements) were
 among the best in the world. But events since have
shown that the industry 
wasn't really able to handle the boom in overseas
tourists that followed.'
M
r Brown believes the industry tried to become too sophisticated too early.
'
We thought we had achieved worldwide awareness, but we now know we didn't.
B
ut the result is that, although some of it is under-utilised, we now have
so
me of the world's best tourism infrastructure.'
Mr Brown says that with the 
Olympics and increased government recognition
and funding for tourism, the i
ndustry is now targeting an annual rate of
around 7.5m overseas arrivals by 
2000. The target would have been around 6m
without the Olympics, but both ai
ms are considerably higher than estimates
of 4.8m arrivals by the government
 funded Bureau of Tourism Research (BTR).
While any of these estimates sugge
sts strong growth, the industry still has
a task ahead in educating investor
s. Mr Brown says banks and institutions
are still far less adept at assessin
g investments in tourism than other
sectors. That ranks as a serious oversig
ht given the scale of the industry.
While tourism is often proudly promoted 
as Australia's biggest export
earner, that description understates its econo
mic importance. If the
international and domestic tourism components are tak
en together, the
industry is arguably Australia's biggest.
Judging by BTR fi
gures, no investment institution of any standing can afford
not to have expo
sure to the industry. The BTR publication, Tourism and the
Economy, calculat
ed that tourism accounted for 465,000 jobs, 5.6 per cent of
the country's gr
oss domestic product and 10 per cent of its foreign exchange
earnings in 199
2.
The BTR figures showed that domestic tourism expenditure, at ADollars
18.
4bn, was almost 2.4 times the size of its international counterpart at
ADoll
ars 7.7bn, for respective GDP contributions of 3.8 and 1.8 per cent.
Latest 
estimates suggest that in 1993 domestic tourism expenditure will
exceed ADol
lars 22bn, with international expenditure rising to ADollars
8.6bn.
Perhaps 
the clincher for the tourism industry in its push for a larger share
of inve
stment funds lies in Australia's geographic location. Leading
stockbrokers A
NZ McCaughan (AM) put the case well in a recent publication,
urging investme
nt in Australian air lines.
'Australia is positioned on the edge of the fast
est-growing tourism region
in the world - the Asia/Pacific,' AM analysts sai
d. 'By the Year 2000, the
Asia/Pacific region with a 39 per cent share, is e
xpected to dominate the
world's international air traffic.
'The other two ma
jor regions will be Europe (26 per cent) and North America
(23 per cent). Fo
r the remainder of the 1990s air travel in the Asia/Pacific
region is expect
ed to grow by an average 9.4 per cent a year, almost twice
as fast as the US
 (4.9 per cent) and far faster than Europe (5.5 per cent).'
AM quoted a BTR 
break down forecasting that the proportion of Asia/Pacific
tourists visiting
 Australia will rise from 43 to almost 50 per cent by 2000.
'Japan, Asia, th
e US and Europe will be the key inbound markets by the year
2000,' AM said. 
'The proximity of these countries to Australia, together
with relaxation of 
institutional constraints on travel, .. augurs well for
larger visitor numbe
rs.'
</TEXT>
<XX>
Countries:-
</XX>
<CN>AUZ  Australia.
</CN>
<XX>
Industrie
s:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
</IN>
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<TP>CMMT  Comment & Analysis.
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<PUB>The Financial Times </PUB>
<PAGE> L
ondon Page I </PAGE>
</DOC>

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<DOC>
<DOCNO>FT934-9708</DOCNO>
<PROFILE>_AN-DKIC6AF4FT</PROFILE>
<DATE>9311
09
</DATE>
<HEADLINE> FT  09 NOV 93 / Survey of Australia (2): A place in th
e Pacific sun - Tourism </HEADLINE>
<BYLINE>    By BRUCE JACQUES </BYLINE>
<
TEXT>
INTERNATIONAL tourism has emerged from near obscurity to become one of

Australia's fastest growing industries in the past decade, but it heads
tow
ards 1994 in a state of dichotomy. Although the industry is one of the
few d
efying world recession with solid growth rates, tourism remains
hazardous gr
ound for investors, writes Bruce Jacques.
This reflects a 'two-speed' growth
 record in the past decade which has left
substantial imbalances in infrastr
ucture, sapped confidence and increased
the perceived risk of tourism invest
ment. But there are signs, boosted by
Sydney's successful bid to host the 20
00 Olympics, that tourism is set for a
period of accelerated new growth.
Int
ernational tourism burst on to an unsuspecting Australia amid the
financial 
boom of the mid 1980s, with overseas visits jumping nearly 200 per
cent to 2
.25m in the half decade to 1988. Figures just released confirm that
growth i
n the half decade since has been a more modest 28 per cent for
visits of jus
t under 2.8m in 1992-93.
This growth volatility has left some bad investment
 decisions in its wake.
Real estate estimates suggest that almost 10 per cen
t of the nation's three,
four and five star accommodation properties are now
 either in receivership
or under the administration of their banks. That is 
almost 70 properties,
covering about 10,000 rooms - enough to give pause to 
any investor.
Several other factors have added to the industry's roller coas
ter feel,
including:
the Federal Government's deregulation of the aviation i
ndustry and
subsequent heavy losses and rationalisation among the country's 
airlines;
the unique double failure of Compass Airlines - the new market ent
rant that
was touted as giving meaning to deregulation; and
postponement of 
the public float of Qantas, the country's international
carrier, from which 
the Federal Government hopes to raise more than ADollars
1.5bn.
But just as 
investors were caught by overestimating the industry's growth,
there are sig
ns that those who continue to retreat will miss the next cycle.
Christopher 
Brown, executive director of tourism's umbrella body, Tourism
Task Force, be
lieves some hard lessons have been learned.
target more rapid growth.
'You h
ave to remember we've only been in the international tourism business
in a b
ig way for just over a decade,' Mr Brown says. 'What we had in the
1980s was
 a marketing-led rather than product-led boom. Some of our early
marketing c
ampaigns (notably the Paul Hogan 'shrimp on the barbie'
advertisements) were
 among the best in the world. But events since have
shown that the industry 
wasn't really able to handle the boom in overseas
tourists that followed.'
M
r Brown believes the industry tried to become too sophisticated too early.
'
We thought we had achieved worldwide awareness, but we now know we didn't.
B
ut the result is that, although some of it is under-utilised, we now have
so
me of the world's best tourism infrastructure.'
Mr Brown says that with the 
Olympics and increased government recognition
and funding for tourism, the i
ndustry is now targeting an annual rate of
around 7.5m overseas arrivals by 
2000. The target would have been around 6m
without the Olympics, but both ai
ms are considerably higher than estimates
of 4.8m arrivals by the government
 funded Bureau of Tourism Research (BTR).
While any of these estimates sugge
sts strong growth, the industry still has
a task ahead in educating investor
s. Mr Brown says banks and institutions
are still far less adept at assessin
g investments in tourism than other
sectors. That ranks as a serious oversig
ht given the scale of the industry.
While tourism is often proudly promoted 
as Australia's biggest export
earner, that description understates its econo
mic importance. If the
international and domestic tourism components are tak
en together, the
industry is arguably Australia's biggest.
Judging by BTR fi
gures, no investment institution of any standing can afford
not to have expo
sure to the industry. The BTR publication, Tourism and the
Economy, calculat
ed that tourism accounted for 465,000 jobs, 5.6 per cent of
the country's gr
oss domestic product and 10 per cent of its foreign exchange
earnings in 199
2.
The BTR figures showed that domestic tourism expenditure, at ADollars
18.
4bn, was almost 2.4 times the size of its international counterpart at
ADoll
ars 7.7bn, for respective GDP contributions of 3.8 and 1.8 per cent.
Latest 
estimates suggest that in 1993 domestic tourism expenditure will
exceed ADol
lars 22bn, with international expenditure rising to ADollars
8.6bn.
Perhaps 
the clincher for the tourism industry in its push for a larger share
of inve
stment funds lies in Australia's geographic location. Leading
stockbrokers A
NZ McCaughan (AM) put the case well in a recent publication,
urging investme
nt in Australian air lines.
'Australia is positioned on the edge of the fast
est-growing tourism region
in the world - the Asia/Pacific,' AM analysts sai
d. 'By the Year 2000, the
Asia/Pacific region with a 39 per cent share, is e
xpected to dominate the
world's international air traffic.
'The other two ma
jor regions will be Europe (26 per cent) and North America
(23 per cent). Fo
r the remainder of the 1990s air travel in the Asia/Pacific
region is expect
ed to grow by an average 9.4 per cent a year, almost twice
as fast as the US
 (4.9 per cent) and far faster than Europe (5.5 per cent).'
AM quoted a BTR 
break down forecasting that the proportion of Asia/Pacific
tourists visiting
 Australia will rise from 43 to almost 50 per cent by 2000.
'Japan, Asia, th
e US and Europe will be the key inbound markets by the year
2000,' AM said. 
'The proximity of these countries to Australia, together
with relaxation of 
institutional constraints on travel, .. augurs well for
larger visitor numbe
rs.'
</TEXT>
<XX>
Countries:-
</XX>
<CN>AUZ  Australia.
</CN>
<XX>
Industrie
s:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
</IN>
<XX>
Types:-
</XX>

<TP>CMMT  Comment & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> L
ondon Page I </PAGE>
</DOC>

============= Transaction # 221 ==============================================
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<DOC>
<DOCNO>FT911-663</DOCNO>
<PROFILE>_AN-BEJAXAECFT</PROFILE>
<DATE>91051
0
</DATE>
<HEADLINE> FT  10 MAY 91 / Recovery in tourism is expected </HEADL
INE>
<BYLINE>    By DAVID CHURCHILL, Leisure Industries Correspondent </BYLI
NE>
<TEXT>
TOURIST arrivals to the UK in 1991 are forecast to recover sharpl
y after the
steep decline earlier this year caused by the Gulf war.
The Brit
ish Tourist Authority said incoming tourist numbers had already
increased si
gnificantly after falling 18 per cent in the first two months of
this year f
rom the levels of the corresponding period of 1990.
It forecast 18m overseas
 visitors to the UK this year, marginally ahead of
the record 17.9m last yea
r, with their expenditure reaching Pounds 7.8bn
against Pounds 7.7bn last ye
ar.
'Tourism is a resilient industry and it is already bouncing back,' Mr
Wi
lliam Davis, chairman of the BTA, told a London conference yesterday.
The BT
A says the recovery is driven by increased numbers of tourists from
western 
Europe, especially the Netherlands, Italy and Spain. Numbers from
the US are
 also recovering but the Japanese and Far East market is taking
longer to pi
ck up. Mr Davis forecast there could be more than than 22m
overseas visitors
 to the UK by 1995.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Pa
ge 8 </PAGE>
</DOC>

============= Transaction # 222 ==============================================
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<DOC>
<DOCNO>FT923-9719</DOCNO>
<PROFILE>_AN-CHGABABIFT</PROFILE>
<DATE>9208
04
</DATE>
<HEADLINE> FT  04 AUG 92 / World Trade News: Sri Lanka sees boom 
in tourism </HEADLINE>
<BYLINE>    By MERVYN DE SILVA </BYLINE>
<DATELINE>  
  COLOMBO </DATELINE>
<TEXT>
THE year 1992 is likely to be a boom one for Sr
i Lankan tourism, the
country's tourist board said yesterday, Mervyn de Silv
a reports from
Colombo. 'We are likely to pass the half-million mark,' an of
ficial
predicted. The previous record was 402,000 in 1982. Anti-Tamil riots 
in 1983
cut the total to 200,000, but political stability was the main reaso
n for
the improvement.
Europe continues to top the list, with Germany rankin
g first, and Italy,
France and the Netherlands showing a sharp rise in numbe
rs. The board
believes the half-million mark can be reached if Air Lanka exp
ands its
European service. But the carrier's plan to buy six Lockheed TriSta
rs has
been criticised by the World Bank and IMF.
</TEXT>
<PUB>The Financial
 Times </PUB>
<PAGE> London Page 5 </PAGE>
</DOC>

============= Transaction # 223 ==============================================
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<DOC>
<DOCNO>FT923-9719</DOCNO>
<PROFILE>_AN-CHGABABIFT</PROFILE>
<DATE>9208
04
</DATE>
<HEADLINE> FT  04 AUG 92 / World Trade News: Sri Lanka sees boom 
in tourism </HEADLINE>
<BYLINE>    By MERVYN DE SILVA </BYLINE>
<DATELINE>  
  COLOMBO </DATELINE>
<TEXT>
THE year 1992 is likely to be a boom one for Sr
i Lankan tourism, the
country's tourist board said yesterday, Mervyn de Silv
a reports from
Colombo. 'We are likely to pass the half-million mark,' an of
ficial
predicted. The previous record was 402,000 in 1982. Anti-Tamil riots 
in 1983
cut the total to 200,000, but political stability was the main reaso
n for
the improvement.
Europe continues to top the list, with Germany rankin
g first, and Italy,
France and the Netherlands showing a sharp rise in numbe
rs. The board
believes the half-million mark can be reached if Air Lanka exp
ands its
European service. But the carrier's plan to buy six Lockheed TriSta
rs has
been criticised by the World Bank and IMF.
</TEXT>
<PUB>The Financial
 Times </PUB>
<PAGE> London Page 5 </PAGE>
</DOC>

============= Transaction # 224 ==============================================
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<DOC>
<DOCNO>FT932-16945</DOCNO>
<PROFILE>_AN-DDBB7AHDFT</PROFILE>
<DATE>930
402
</DATE>
<HEADLINE> FT  02 APR 93 / Survey of Spain (10): Nothing is left
 to chance - The tourism sector covers half the country's trade deficit </HE
ADLINE>
<BYLINE>    By TOM BURNS </BYLINE>
<TEXT>
SPAIN can thank its bright
 sun for its tourism. Receipts from the tourism
sector were up by 6.6 per ce
nt last year, against a GDP growth of 1.0 per
cent. As a result, they covere
d 50 per cent of the trade deficit.
1992 was admittedly the year when Spain 
staged the Barcelona Olympics and
the Seville universal exposition. Tourism 
could not fail to provide returns
but, given the onset of global recession, 
the final figures were impressive.
Mindful of the tightened European belts, 
the industry ministry forecasts a
modest 1 per cent growth in tourism receip
ts this year. The estimate could
be too conservative, for tourist entries gr
ew by 5.3 per cent in January and
February against the first two months of l
ast year. Although the sector's
income showed a strong growth last year, the
 number of actual visitors to
Spain - 55m - increased by only 3.4 per cent.

The tourist sector should certainly benefit, as far as French and German
vis
itors are concerned, from the 11 per cent devaluation of the peseta
within t
he ERM last autumn. The exchange rate boost is nevertheless tempered
by the 
peseta's appreciation against sterling and the lira.
Meanwhile, the continui
ng tragedy of former Yugoslavia will, once more, work
to Spain's advantage. 
Fears that once existed of cut-price competition for
the Costas from the eas
tern Mediterranean, as well from the North African
coast, have to a great ex
tent been neutralised by political factors.
The fears were probably overstat
ed. Tourism officials say that their surveys
show Spain still dominates the 
sun and sand market and enjoys a clear client
loyalty. Package tourists who 
venture elsewhere tend to return to the
well-worn Costas.
Nevertheless, the 
industry ministry is leaving nothing to chance. It has
boosted its advertisi
ng budget for this year by 14.6 per cent. At a time of
cost-cutting across t
he board, the increased expenditure is an indication of
the priority that th
e government gives to the tourism sector.
Beaches, naturally, form an import
ant part of the advertising campaign
although they may look oddly solitary a
nd wild to the package tour veterans
of the concrete high-rise resorts. Ther
e are apparently a few kilometres
left of virgin sand somewhere on the Medit
erranean coast or in the Balearics
and in the Canary Islands.
Marinas and go
lf courses also receive due honours in a subliminal follow-up
to the sporty 
image created last year when Spain played host to the world's
athletes.
The 
main new thrust of the promotion is, however, to highlight interior
Spain wi
th its genuinely empty landscapes punctuated by historic cities. The
tourism
 authorities have, for example, seized on the medieval pilgrimage
route acro
ss northern Spain that starts in the Pyrenees and ends near
Finisterre at th
e shrine of St James the Apostle in Compostella's cathedral.
What used to be
 a devotional exercise that energised hardy saints and
repentant sinners in 
the 11th century now threatens to become a giant
walkway for modern trekers.
 They might even sport the pilgrimage's
traditional cockleshell emblem on th
eir designer backpacks.
Rarefied souls may be outraged by the high profile a
fforded to what the
medieval world used to know as the way of St James, but 
it makes sound
commercial sense.
It is a demanding month-long route that tak
es the walker through mountain
ranges, arid planes and, surprisingly for tho
se who have never been to
northern Spain, lush scenery reminiscent of Irelan
d. Man-made highlights
include the cathedral cities of Burgos and Leon, as w
ell as a string of
romanesque churches and convents set by isolated pueblos.

The authorities, quite properly, expect the vast majority of travellers to

shy away from the footpaths and drive to Compostella. They will not be
disap
pointed, either. It is one of the most memorable inland touring routes
in Eu
rope.
The success of the Costa trade, which continues to be such a healthy g
olden
goose for the tourism sector, has blinded Spain's authorities to the
p
otential of an interior that rivals, and often surpasses, anything that
Fran
ce or Italy has to offer. Major improvements to the road network have
now ma
de it extremely accessible.
The Compostella campaign is one pilot scheme to 
right the balance and the
promotion of the Ruta de la Plata, or Silver Route
, which links Roman mines,
cities and export centres is another. It runs par
allel to Spain's border
with Portugal from Seville in the south to the north
 coast by Oviedo.
Again, the mix is one of breathtaking landscapes, with wil
dlife and
excellent birdwatching thrown in, and a lot of history. Cathedrals
, castles,
Roman ruins and Roman bridges that remain in use pop up along the
 route, as
billboards do along a highway.
The authorities are in no urgent h
urry to develop the interior although they
have their minds firmly set on do
ing so. Inland Spain will be opened up
gradually and thus escape the excesse
s that marked the sudden build-up of
the Costas. Fortunately the success of 
the sun and sand sector allows the
planners to take their time.
</TEXT>
<XX>

Countries:-
</XX>
<CN>ESZ  Spain, EC.
</CN>
<XX>
Industries:-
</XX>
<IN>P70
11 Hotels and Motels.
    P7999 Amusement and Recreation, NEC.
</IN>
<XX>
Ty
pes:-
</XX>
<TP>ECON  Balance of trade.
</TP>
<PUB>The Financial Times </PUB
>
<PAGE> London Page 33 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT932-16945</DOCNO>
<PROFILE>_AN-DDBB7AHDFT</PROFILE>
<DATE>930
402
</DATE>
<HEADLINE> FT  02 APR 93 / Survey of Spain (10): Nothing is left
 to chance - The tourism sector covers half the country's trade deficit </HE
ADLINE>
<BYLINE>    By TOM BURNS </BYLINE>
<TEXT>
SPAIN can thank its bright
 sun for its tourism. Receipts from the tourism
sector were up by 6.6 per ce
nt last year, against a GDP growth of 1.0 per
cent. As a result, they covere
d 50 per cent of the trade deficit.
1992 was admittedly the year when Spain 
staged the Barcelona Olympics and
the Seville universal exposition. Tourism 
could not fail to provide returns
but, given the onset of global recession, 
the final figures were impressive.
Mindful of the tightened European belts, 
the industry ministry forecasts a
modest 1 per cent growth in tourism receip
ts this year. The estimate could
be too conservative, for tourist entries gr
ew by 5.3 per cent in January and
February against the first two months of l
ast year. Although the sector's
income showed a strong growth last year, the
 number of actual visitors to
Spain - 55m - increased by only 3.4 per cent.

The tourist sector should certainly benefit, as far as French and German
vis
itors are concerned, from the 11 per cent devaluation of the peseta
within t
he ERM last autumn. The exchange rate boost is nevertheless tempered
by the 
peseta's appreciation against sterling and the lira.
Meanwhile, the continui
ng tragedy of former Yugoslavia will, once more, work
to Spain's advantage. 
Fears that once existed of cut-price competition for
the Costas from the eas
tern Mediterranean, as well from the North African
coast, have to a great ex
tent been neutralised by political factors.
The fears were probably overstat
ed. Tourism officials say that their surveys
show Spain still dominates the 
sun and sand market and enjoys a clear client
loyalty. Package tourists who 
venture elsewhere tend to return to the
well-worn Costas.
Nevertheless, the 
industry ministry is leaving nothing to chance. It has
boosted its advertisi
ng budget for this year by 14.6 per cent. At a time of
cost-cutting across t
he board, the increased expenditure is an indication of
the priority that th
e government gives to the tourism sector.
Beaches, naturally, form an import
ant part of the advertising campaign
although they may look oddly solitary a
nd wild to the package tour veterans
of the concrete high-rise resorts. Ther
e are apparently a few kilometres
left of virgin sand somewhere on the Medit
erranean coast or in the Balearics
and in the Canary Islands.
Marinas and go
lf courses also receive due honours in a subliminal follow-up
to the sporty 
image created last year when Spain played host to the world's
athletes.
The 
main new thrust of the promotion is, however, to highlight interior
Spain wi
th its genuinely empty landscapes punctuated by historic cities. The
tourism
 authorities have, for example, seized on the medieval pilgrimage
route acro
ss northern Spain that starts in the Pyrenees and ends near
Finisterre at th
e shrine of St James the Apostle in Compostella's cathedral.
What used to be
 a devotional exercise that energised hardy saints and
repentant sinners in 
the 11th century now threatens to become a giant
walkway for modern trekers.
 They might even sport the pilgrimage's
traditional cockleshell emblem on th
eir designer backpacks.
Rarefied souls may be outraged by the high profile a
fforded to what the
medieval world used to know as the way of St James, but 
it makes sound
commercial sense.
It is a demanding month-long route that tak
es the walker through mountain
ranges, arid planes and, surprisingly for tho
se who have never been to
northern Spain, lush scenery reminiscent of Irelan
d. Man-made highlights
include the cathedral cities of Burgos and Leon, as w
ell as a string of
romanesque churches and convents set by isolated pueblos.

The authorities, quite properly, expect the vast majority of travellers to

shy away from the footpaths and drive to Compostella. They will not be
disap
pointed, either. It is one of the most memorable inland touring routes
in Eu
rope.
The success of the Costa trade, which continues to be such a healthy g
olden
goose for the tourism sector, has blinded Spain's authorities to the
p
otential of an interior that rivals, and often surpasses, anything that
Fran
ce or Italy has to offer. Major improvements to the road network have
now ma
de it extremely accessible.
The Compostella campaign is one pilot scheme to 
right the balance and the
promotion of the Ruta de la Plata, or Silver Route
, which links Roman mines,
cities and export centres is another. It runs par
allel to Spain's border
with Portugal from Seville in the south to the north
 coast by Oviedo.
Again, the mix is one of breathtaking landscapes, with wil
dlife and
excellent birdwatching thrown in, and a lot of history. Cathedrals
, castles,
Roman ruins and Roman bridges that remain in use pop up along the
 route, as
billboards do along a highway.
The authorities are in no urgent h
urry to develop the interior although they
have their minds firmly set on do
ing so. Inland Spain will be opened up
gradually and thus escape the excesse
s that marked the sudden build-up of
the Costas. Fortunately the success of 
the sun and sand sector allows the
planners to take their time.
</TEXT>
<XX>

Countries:-
</XX>
<CN>ESZ  Spain, EC.
</CN>
<XX>
Industries:-
</XX>
<IN>P70
11 Hotels and Motels.
    P7999 Amusement and Recreation, NEC.
</IN>
<XX>
Ty
pes:-
</XX>
<TP>ECON  Balance of trade.
</TP>
<PUB>The Financial Times </PUB
>
<PAGE> London Page 33 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT932-16945</DOCNO>
<PROFILE>_AN-DDBB7AHDFT</PROFILE>
<DATE>930
402
</DATE>
<HEADLINE> FT  02 APR 93 / Survey of Spain (10): Nothing is left
 to chance - The tourism sector covers half the country's trade deficit </HE
ADLINE>
<BYLINE>    By TOM BURNS </BYLINE>
<TEXT>
SPAIN can thank its bright
 sun for its tourism. Receipts from the tourism
sector were up by 6.6 per ce
nt last year, against a GDP growth of 1.0 per
cent. As a result, they covere
d 50 per cent of the trade deficit.
1992 was admittedly the year when Spain 
staged the Barcelona Olympics and
the Seville universal exposition. Tourism 
could not fail to provide returns
but, given the onset of global recession, 
the final figures were impressive.
Mindful of the tightened European belts, 
the industry ministry forecasts a
modest 1 per cent growth in tourism receip
ts this year. The estimate could
be too conservative, for tourist entries gr
ew by 5.3 per cent in January and
February against the first two months of l
ast year. Although the sector's
income showed a strong growth last year, the
 number of actual visitors to
Spain - 55m - increased by only 3.4 per cent.

The tourist sector should certainly benefit, as far as French and German
vis
itors are concerned, from the 11 per cent devaluation of the peseta
within t
he ERM last autumn. The exchange rate boost is nevertheless tempered
by the 
peseta's appreciation against sterling and the lira.
Meanwhile, the continui
ng tragedy of former Yugoslavia will, once more, work
to Spain's advantage. 
Fears that once existed of cut-price competition for
the Costas from the eas
tern Mediterranean, as well from the North African
coast, have to a great ex
tent been neutralised by political factors.
The fears were probably overstat
ed. Tourism officials say that their surveys
show Spain still dominates the 
sun and sand market and enjoys a clear client
loyalty. Package tourists who 
venture elsewhere tend to return to the
well-worn Costas.
Nevertheless, the 
industry ministry is leaving nothing to chance. It has
boosted its advertisi
ng budget for this year by 14.6 per cent. At a time of
cost-cutting across t
he board, the increased expenditure is an indication of
the priority that th
e government gives to the tourism sector.
Beaches, naturally, form an import
ant part of the advertising campaign
although they may look oddly solitary a
nd wild to the package tour veterans
of the concrete high-rise resorts. Ther
e are apparently a few kilometres
left of virgin sand somewhere on the Medit
erranean coast or in the Balearics
and in the Canary Islands.
Marinas and go
lf courses also receive due honours in a subliminal follow-up
to the sporty 
image created last year when Spain played host to the world's
athletes.
The 
main new thrust of the promotion is, however, to highlight interior
Spain wi
th its genuinely empty landscapes punctuated by historic cities. The
tourism
 authorities have, for example, seized on the medieval pilgrimage
route acro
ss northern Spain that starts in the Pyrenees and ends near
Finisterre at th
e shrine of St James the Apostle in Compostella's cathedral.
What used to be
 a devotional exercise that energised hardy saints and
repentant sinners in 
the 11th century now threatens to become a giant
walkway for modern trekers.
 They might even sport the pilgrimage's
traditional cockleshell emblem on th
eir designer backpacks.
Rarefied souls may be outraged by the high profile a
fforded to what the
medieval world used to know as the way of St James, but 
it makes sound
commercial sense.
It is a demanding month-long route that tak
es the walker through mountain
ranges, arid planes and, surprisingly for tho
se who have never been to
northern Spain, lush scenery reminiscent of Irelan
d. Man-made highlights
include the cathedral cities of Burgos and Leon, as w
ell as a string of
romanesque churches and convents set by isolated pueblos.

The authorities, quite properly, expect the vast majority of travellers to

shy away from the footpaths and drive to Compostella. They will not be
disap
pointed, either. It is one of the most memorable inland touring routes
in Eu
rope.
The success of the Costa trade, which continues to be such a healthy g
olden
goose for the tourism sector, has blinded Spain's authorities to the
p
otential of an interior that rivals, and often surpasses, anything that
Fran
ce or Italy has to offer. Major improvements to the road network have
now ma
de it extremely accessible.
The Compostella campaign is one pilot scheme to 
right the balance and the
promotion of the Ruta de la Plata, or Silver Route
, which links Roman mines,
cities and export centres is another. It runs par
allel to Spain's border
with Portugal from Seville in the south to the north
 coast by Oviedo.
Again, the mix is one of breathtaking landscapes, with wil
dlife and
excellent birdwatching thrown in, and a lot of history. Cathedrals
, castles,
Roman ruins and Roman bridges that remain in use pop up along the
 route, as
billboards do along a highway.
The authorities are in no urgent h
urry to develop the interior although they
have their minds firmly set on do
ing so. Inland Spain will be opened up
gradually and thus escape the excesse
s that marked the sudden build-up of
the Costas. Fortunately the success of 
the sun and sand sector allows the
planners to take their time.
</TEXT>
<XX>

Countries:-
</XX>
<CN>ESZ  Spain, EC.
</CN>
<XX>
Industries:-
</XX>
<IN>P70
11 Hotels and Motels.
    P7999 Amusement and Recreation, NEC.
</IN>
<XX>
Ty
pes:-
</XX>
<TP>ECON  Balance of trade.
</TP>
<PUB>The Financial Times </PUB
>
<PAGE> London Page 33 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT934-16282</DOCNO>
<PROFILE>_AN-DJGCLACKFT</PROFILE>
<DATE>931
007
</DATE>
<HEADLINE> FT  07 OCT 93 / Tourist numbers at record level </HEA
DLINE>
<BYLINE>    By MICHAEL SKAPINKER, Leisure Industries Correspondent an
d CHRIS TIGHE </BYLINE>
<TEXT>
TOURIST numbers and spending rose to record l
evels in the first seven months
of the year, but a travel industry spokesman
 warned that London theatres
were missing opportunities to attract foreign v
isitors.
The number of visitors to the UK rose 3 per cent to 10.6m in the ye
ar to the
end of July, according to department of national heritage figures.
 Spending
was up 12 per cent to Pounds 4.7bn. During July spending was Pound
s 1.1bn,
21 per cent higher than last year.
Mr Iain Sproat, national heritag
e minister, said the figures provided
'further evidence that the United King
dom is an attractive and affordable
place to visit'.
However, Mr Stuart Crou
ch, chairman of the British Incoming Tour Operators'
Association, said Londo
n theatres were losing foreign visitors' bookings
through their 'arrogant at
titude'.
Mr Crouch said many tour operators bringing tourists to the UK had 
stopped
selling theatre tickets because of the difficulties they experienced
.
These included theatres marking up ticket prices by as much as 10 per cent

on telephone sales and credit card transactions. Mr Crouch said: 'What sort

of message are we giving to clients and government legislators attempting t
o
outlaw the worst practices of ticket touts if theatre managements are
char
ging additional fees over and above the face value of the ticket?'
He added 
that theatres were refusing to hold tickets provisionally for 48
hours pendi
ng confirmation and payment.
Farmers in Cumbria are to be offered free advic
e on developing tourism on
their farms, Chris Tighe writes.
About 1,000 Cumb
rian farms, or 20 per cent, already have some form of
tourism enterprise. Re
search by Adas, the government-owned Agricultural
Development Advisory Servi
ce, indicates 63 per cent of farm tourism
operators in England see their ent
erprise as vitally important to overall
income.
</TEXT>
<XX>
Countries:-
</X
X>
<CN>GBZ  United Kingdom, EC.
</CN>
<XX>
Industries:-
</XX>
<IN>P7922 Thea
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</IN>
<XX>
Type
s:-
</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Financial Times </PUB>
<PAG
E> London Page 14 </PAGE>
</DOC>

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<PROFILE>_AN-DJGCLACKFT</PROFILE>
<DATE>931
007
</DATE>
<HEADLINE> FT  07 OCT 93 / Tourist numbers at record level </HEA
DLINE>
<BYLINE>    By MICHAEL SKAPINKER, Leisure Industries Correspondent an
d CHRIS TIGHE </BYLINE>
<TEXT>
TOURIST numbers and spending rose to record l
evels in the first seven months
of the year, but a travel industry spokesman
 warned that London theatres
were missing opportunities to attract foreign v
isitors.
The number of visitors to the UK rose 3 per cent to 10.6m in the ye
ar to the
end of July, according to department of national heritage figures.
 Spending
was up 12 per cent to Pounds 4.7bn. During July spending was Pound
s 1.1bn,
21 per cent higher than last year.
Mr Iain Sproat, national heritag
e minister, said the figures provided
'further evidence that the United King
dom is an attractive and affordable
place to visit'.
However, Mr Stuart Crou
ch, chairman of the British Incoming Tour Operators'
Association, said Londo
n theatres were losing foreign visitors' bookings
through their 'arrogant at
titude'.
Mr Crouch said many tour operators bringing tourists to the UK had 
stopped
selling theatre tickets because of the difficulties they experienced
.
These included theatres marking up ticket prices by as much as 10 per cent

on telephone sales and credit card transactions. Mr Crouch said: 'What sort

of message are we giving to clients and government legislators attempting t
o
outlaw the worst practices of ticket touts if theatre managements are
char
ging additional fees over and above the face value of the ticket?'
He added 
that theatres were refusing to hold tickets provisionally for 48
hours pendi
ng confirmation and payment.
Farmers in Cumbria are to be offered free advic
e on developing tourism on
their farms, Chris Tighe writes.
About 1,000 Cumb
rian farms, or 20 per cent, already have some form of
tourism enterprise. Re
search by Adas, the government-owned Agricultural
Development Advisory Servi
ce, indicates 63 per cent of farm tourism
operators in England see their ent
erprise as vitally important to overall
income.
</TEXT>
<XX>
Countries:-
</X
X>
<CN>GBZ  United Kingdom, EC.
</CN>
<XX>
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</XX>
<IN>P7922 Thea
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    P9611 Administration of General Economic 
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    P02   Agricultural Pr
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    P7999 Amusement and Recreation, NEC.
</IN>
<XX>
Type
s:-
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<TP>NEWS  General News.
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<PUB>The Financial Times </PUB>
<PAG
E> London Page 14 </PAGE>
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<PROFILE>_AN-DJGCLACKFT</PROFILE>
<DATE>931
007
</DATE>
<HEADLINE> FT  07 OCT 93 / Tourist numbers at record level </HEA
DLINE>
<BYLINE>    By MICHAEL SKAPINKER, Leisure Industries Correspondent an
d CHRIS TIGHE </BYLINE>
<TEXT>
TOURIST numbers and spending rose to record l
evels in the first seven months
of the year, but a travel industry spokesman
 warned that London theatres
were missing opportunities to attract foreign v
isitors.
The number of visitors to the UK rose 3 per cent to 10.6m in the ye
ar to the
end of July, according to department of national heritage figures.
 Spending
was up 12 per cent to Pounds 4.7bn. During July spending was Pound
s 1.1bn,
21 per cent higher than last year.
Mr Iain Sproat, national heritag
e minister, said the figures provided
'further evidence that the United King
dom is an attractive and affordable
place to visit'.
However, Mr Stuart Crou
ch, chairman of the British Incoming Tour Operators'
Association, said Londo
n theatres were losing foreign visitors' bookings
through their 'arrogant at
titude'.
Mr Crouch said many tour operators bringing tourists to the UK had 
stopped
selling theatre tickets because of the difficulties they experienced
.
These included theatres marking up ticket prices by as much as 10 per cent

on telephone sales and credit card transactions. Mr Crouch said: 'What sort

of message are we giving to clients and government legislators attempting t
o
outlaw the worst practices of ticket touts if theatre managements are
char
ging additional fees over and above the face value of the ticket?'
He added 
that theatres were refusing to hold tickets provisionally for 48
hours pendi
ng confirmation and payment.
Farmers in Cumbria are to be offered free advic
e on developing tourism on
their farms, Chris Tighe writes.
About 1,000 Cumb
rian farms, or 20 per cent, already have some form of
tourism enterprise. Re
search by Adas, the government-owned Agricultural
Development Advisory Servi
ce, indicates 63 per cent of farm tourism
operators in England see their ent
erprise as vitally important to overall
income.
</TEXT>
<XX>
Countries:-
</X
X>
<CN>GBZ  United Kingdom, EC.
</CN>
<XX>
Industries:-
</XX>
<IN>P7922 Thea
trical Producers and Services.
    P9611 Administration of General Economic 
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    P02   Agricultural Pr
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    P7999 Amusement and Recreation, NEC.
</IN>
<XX>
Type
s:-
</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Financial Times </PUB>
<PAG
E> London Page 14 </PAGE>
</DOC>

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============= Transaction # 231 ==============================================
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<DOC>
<DOCNO>FT941-6761</DOCNO>
<PROFILE>_AN-EB1DPAENFT</PROFILE>
<DATE>9402
28
</DATE>
<HEADLINE> FT  28 FEB 94 / Survey of Jamaica (11): Caribbean comp
etition - Tourism is a sunny spot in the economy </HEADLINE>
<BYLINE>    By 
STEPHEN FIDLER </BYLINE>
<TEXT>
Tourism has been a bright spot in the Jamaic
an economy. With the markets
weak for its traditional exports - bauxite, ban
anas and sugar - growing
foreign exchange receipts from tourism have been an
 increasingly important
source of foreign exchange.
The industry generates c
lose to Dollars 1bn a year in gross foreign exchange
receipts, according to 
government estimates. The estimated net receipts of
between Dollars 500m and
 Dollars 600m make it the single most important
source of foreign exchange i
n the economy. It employs about 26,000 people,
more than double the level of
 10 years ago. Some 1.6m tourists arrived in
the country last year, 3.4 per 
cent up on 1992. The number of visitors
stopping over jumped 7.7 per cent to
 979,000, while the number of arrivals
on cruise ships slipped 3.1 per cent 
to 630,000.
The tourism recovery came after two weak years at the end of the
 1980s, and
difficult times for international tourism worldwide at the time 
of the Gulf
War and in the depths of the US recession. In Jamaica, it underl
ined the
heavy dependence on the US market.
According to Ms Camille Needham,
 general manager of the Jamaican Hotels and
Tourist Association: 'The US rec
ession had a powerful effect that in fact
did us a lot of good. We decided t
hat we could not have all our eggs in one
basket.'
At times in the 1980s, vi
sitors from the US accounted for more than
three-quarters of all tourists ma
king stopovers coming from the US. Visitors
from Canada accounted for a furt
her 15 per cent. In 1992, 61.9 per cent of
visitors were from the US, 11.1 p
er cent from Canada.
The proportion of visitors from Europe has risen above 
20 per cent; more
than half come from the UK, encouraged by the development 
of the charter
tour business. Numbers of visitors from regions such as Latin
 America and
Japan have also grown. Along with this, the seasonality of the 
trade has
been reduced. Most Europeans - unlike many holidaymakers from the 
northern
US and Canada - vacation in the summer months.
Jamaica's tourism bu
siness is not without its problems. Rising crime levels
(attacks on tourists
 have grown and two have been murdered in the country in
the last two years)
 attract bad publicity, which may deter visitors if the
situation becomes wo
rse.
Some of the country's infrastructure - for example, the telephones and 
the
provision of electricity - has improved. But much remains inadequate.
'W
e have to improve the roads, reduce the number of potholes. Electricity
and 
telephone services have improved a lot. We are working on the water
situatio
n but it's moving a bit more slowly,' says Ms Needham.
Part of the problem i
s that infrastructure has not kept up with the growth
of the industry. Much 
of the development has been haphazard and resorts have
not been planned. 'We
 have to think of planning and zoning to make the
resorts more interesting a
nd attractive,' she says.
Other problems - such as air access to the region 
- are less under Jamaican
control. The future of Air Jamaica, the national a
irline, is uncertain. Mr
Omar Davies, the finance minister, says the governm
ent will stop providing
funds for the loss-making airline from the start of 
the new fiscal year in
April. Pan-American and Eastern airlines, which were 
the main carriers from
North America to the Caribbean, have collapsed, altho
ugh American Airlines
has scheduled additional flights.
Furthermore, competi
tion is becoming intense, and may become more so.
Several US states have sta
rted promoting themselves as holiday destinations.
Resorts in the Dominican 
Republic and Cancun in Mexico offer competitively
priced vacations. Cuba is 
attracting substantial hotel investment. Cuba
seems to offer an important me
dium-term threat, although its emergence as a
true competitor will depend on
 the lifting of the US embargo. Of all the
Caribbean islands, Cuba appears t
o offer most of what Jamaica has in sand,
sea and scenery.
'We can't compete
 with rates offered by Dominican Republic,' says one
Jamaican tourism offici
al. 'We can't sell our rooms for Dollars 20-Dollars
30 a night.'
Despite thi
s competition, there has been more of a co-operative approach to
Caribbean t
ourism in recent years. Once fiercely competitive, the resort
countries incl
uding Jamaica have implemented a big advertising programme in
the US to mark
et the region as a single destination to potential north
American visitors. 
The tourist authorities hope that one spin-off may be the
development of mor
e multi-centre holidays.
In common with other cruise ship destinations, ther
e have been concerns in
Jamaica that cruise visitors do not provide enough b
enefit to the local
economy. However, a decision to increase the cruise ship
 passenger tax from
Dollars 10 to Dollars 15 has been delayed, apparently fo
llowing pressure
from the cruise ship owners. Government officials have said
 that the
increase would be implemented over three years from January 1994.

</TEXT>
<XX>
Countries:-
</XX>
<CN>JMZ  Jamaica, Caribbean.
</CN>
<XX>
Indus
tries:-
</XX>
<IN>P9611 Administration of General Economic Programs.
    P79
99 Amusement and Recreation, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment
 & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 32 </P
AGE>
</DOC>

============= Transaction # 232 ==============================================
Transaction #:    232       Transaction Code:  19 (Record Selected)        

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<DOC>
<DOCNO>FT941-6761</DOCNO>
<PROFILE>_AN-EB1DPAENFT</PROFILE>
<DATE>9402
28
</DATE>
<HEADLINE> FT  28 FEB 94 / Survey of Jamaica (11): Caribbean comp
etition - Tourism is a sunny spot in the economy </HEADLINE>
<BYLINE>    By 
STEPHEN FIDLER </BYLINE>
<TEXT>
Tourism has been a bright spot in the Jamaic
an economy. With the markets
weak for its traditional exports - bauxite, ban
anas and sugar - growing
foreign exchange receipts from tourism have been an
 increasingly important
source of foreign exchange.
The industry generates c
lose to Dollars 1bn a year in gross foreign exchange
receipts, according to 
government estimates. The estimated net receipts of
between Dollars 500m and
 Dollars 600m make it the single most important
source of foreign exchange i
n the economy. It employs about 26,000 people,
more than double the level of
 10 years ago. Some 1.6m tourists arrived in
the country last year, 3.4 per 
cent up on 1992. The number of visitors
stopping over jumped 7.7 per cent to
 979,000, while the number of arrivals
on cruise ships slipped 3.1 per cent 
to 630,000.
The tourism recovery came after two weak years at the end of the
 1980s, and
difficult times for international tourism worldwide at the time 
of the Gulf
War and in the depths of the US recession. In Jamaica, it underl
ined the
heavy dependence on the US market.
According to Ms Camille Needham,
 general manager of the Jamaican Hotels and
Tourist Association: 'The US rec
ession had a powerful effect that in fact
did us a lot of good. We decided t
hat we could not have all our eggs in one
basket.'
At times in the 1980s, vi
sitors from the US accounted for more than
three-quarters of all tourists ma
king stopovers coming from the US. Visitors
from Canada accounted for a furt
her 15 per cent. In 1992, 61.9 per cent of
visitors were from the US, 11.1 p
er cent from Canada.
The proportion of visitors from Europe has risen above 
20 per cent; more
than half come from the UK, encouraged by the development 
of the charter
tour business. Numbers of visitors from regions such as Latin
 America and
Japan have also grown. Along with this, the seasonality of the 
trade has
been reduced. Most Europeans - unlike many holidaymakers from the 
northern
US and Canada - vacation in the summer months.
Jamaica's tourism bu
siness is not without its problems. Rising crime levels
(attacks on tourists
 have grown and two have been murdered in the country in
the last two years)
 attract bad publicity, which may deter visitors if the
situation becomes wo
rse.
Some of the country's infrastructure - for example, the telephones and 
the
provision of electricity - has improved. But much remains inadequate.
'W
e have to improve the roads, reduce the number of potholes. Electricity
and 
telephone services have improved a lot. We are working on the water
situatio
n but it's moving a bit more slowly,' says Ms Needham.
Part of the problem i
s that infrastructure has not kept up with the growth
of the industry. Much 
of the development has been haphazard and resorts have
not been planned. 'We
 have to think of planning and zoning to make the
resorts more interesting a
nd attractive,' she says.
Other problems - such as air access to the region 
- are less under Jamaican
control. The future of Air Jamaica, the national a
irline, is uncertain. Mr
Omar Davies, the finance minister, says the governm
ent will stop providing
funds for the loss-making airline from the start of 
the new fiscal year in
April. Pan-American and Eastern airlines, which were 
the main carriers from
North America to the Caribbean, have collapsed, altho
ugh American Airlines
has scheduled additional flights.
Furthermore, competi
tion is becoming intense, and may become more so.
Several US states have sta
rted promoting themselves as holiday destinations.
Resorts in the Dominican 
Republic and Cancun in Mexico offer competitively
priced vacations. Cuba is 
attracting substantial hotel investment. Cuba
seems to offer an important me
dium-term threat, although its emergence as a
true competitor will depend on
 the lifting of the US embargo. Of all the
Caribbean islands, Cuba appears t
o offer most of what Jamaica has in sand,
sea and scenery.
'We can't compete
 with rates offered by Dominican Republic,' says one
Jamaican tourism offici
al. 'We can't sell our rooms for Dollars 20-Dollars
30 a night.'
Despite thi
s competition, there has been more of a co-operative approach to
Caribbean t
ourism in recent years. Once fiercely competitive, the resort
countries incl
uding Jamaica have implemented a big advertising programme in
the US to mark
et the region as a single destination to potential north
American visitors. 
The tourist authorities hope that one spin-off may be the
development of mor
e multi-centre holidays.
In common with other cruise ship destinations, ther
e have been concerns in
Jamaica that cruise visitors do not provide enough b
enefit to the local
economy. However, a decision to increase the cruise ship
 passenger tax from
Dollars 10 to Dollars 15 has been delayed, apparently fo
llowing pressure
from the cruise ship owners. Government officials have said
 that the
increase would be implemented over three years from January 1994.

</TEXT>
<XX>
Countries:-
</XX>
<CN>JMZ  Jamaica, Caribbean.
</CN>
<XX>
Indus
tries:-
</XX>
<IN>P9611 Administration of General Economic Programs.
    P79
99 Amusement and Recreation, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment
 & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 32 </P
AGE>
</DOC>

============= Transaction # 233 ==============================================
Transaction #:    233       Transaction Code:  22 (Record(s) Saved)        

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT941-6761</DOCNO>
<PROFILE>_AN-EB1DPAENFT</PROFILE>
<DATE>9402
28
</DATE>
<HEADLINE> FT  28 FEB 94 / Survey of Jamaica (11): Caribbean comp
etition - Tourism is a sunny spot in the economy </HEADLINE>
<BYLINE>    By 
STEPHEN FIDLER </BYLINE>
<TEXT>
Tourism has been a bright spot in the Jamaic
an economy. With the markets
weak for its traditional exports - bauxite, ban
anas and sugar - growing
foreign exchange receipts from tourism have been an
 increasingly important
source of foreign exchange.
The industry generates c
lose to Dollars 1bn a year in gross foreign exchange
receipts, according to 
government estimates. The estimated net receipts of
between Dollars 500m and
 Dollars 600m make it the single most important
source of foreign exchange i
n the economy. It employs about 26,000 people,
more than double the level of
 10 years ago. Some 1.6m tourists arrived in
the country last year, 3.4 per 
cent up on 1992. The number of visitors
stopping over jumped 7.7 per cent to
 979,000, while the number of arrivals
on cruise ships slipped 3.1 per cent 
to 630,000.
The tourism recovery came after two weak years at the end of the
 1980s, and
difficult times for international tourism worldwide at the time 
of the Gulf
War and in the depths of the US recession. In Jamaica, it underl
ined the
heavy dependence on the US market.
According to Ms Camille Needham,
 general manager of the Jamaican Hotels and
Tourist Association: 'The US rec
ession had a powerful effect that in fact
did us a lot of good. We decided t
hat we could not have all our eggs in one
basket.'
At times in the 1980s, vi
sitors from the US accounted for more than
three-quarters of all tourists ma
king stopovers coming from the US. Visitors
from Canada accounted for a furt
her 15 per cent. In 1992, 61.9 per cent of
visitors were from the US, 11.1 p
er cent from Canada.
The proportion of visitors from Europe has risen above 
20 per cent; more
than half come from the UK, encouraged by the development 
of the charter
tour business. Numbers of visitors from regions such as Latin
 America and
Japan have also grown. Along with this, the seasonality of the 
trade has
been reduced. Most Europeans - unlike many holidaymakers from the 
northern
US and Canada - vacation in the summer months.
Jamaica's tourism bu
siness is not without its problems. Rising crime levels
(attacks on tourists
 have grown and two have been murdered in the country in
the last two years)
 attract bad publicity, which may deter visitors if the
situation becomes wo
rse.
Some of the country's infrastructure - for example, the telephones and 
the
provision of electricity - has improved. But much remains inadequate.
'W
e have to improve the roads, reduce the number of potholes. Electricity
and 
telephone services have improved a lot. We are working on the water
situatio
n but it's moving a bit more slowly,' says Ms Needham.
Part of the problem i
s that infrastructure has not kept up with the growth
of the industry. Much 
of the development has been haphazard and resorts have
not been planned. 'We
 have to think of planning and zoning to make the
resorts more interesting a
nd attractive,' she says.
Other problems - such as air access to the region 
- are less under Jamaican
control. The future of Air Jamaica, the national a
irline, is uncertain. Mr
Omar Davies, the finance minister, says the governm
ent will stop providing
funds for the loss-making airline from the start of 
the new fiscal year in
April. Pan-American and Eastern airlines, which were 
the main carriers from
North America to the Caribbean, have collapsed, altho
ugh American Airlines
has scheduled additional flights.
Furthermore, competi
tion is becoming intense, and may become more so.
Several US states have sta
rted promoting themselves as holiday destinations.
Resorts in the Dominican 
Republic and Cancun in Mexico offer competitively
priced vacations. Cuba is 
attracting substantial hotel investment. Cuba
seems to offer an important me
dium-term threat, although its emergence as a
true competitor will depend on
 the lifting of the US embargo. Of all the
Caribbean islands, Cuba appears t
o offer most of what Jamaica has in sand,
sea and scenery.
'We can't compete
 with rates offered by Dominican Republic,' says one
Jamaican tourism offici
al. 'We can't sell our rooms for Dollars 20-Dollars
30 a night.'
Despite thi
s competition, there has been more of a co-operative approach to
Caribbean t
ourism in recent years. Once fiercely competitive, the resort
countries incl
uding Jamaica have implemented a big advertising programme in
the US to mark
et the region as a single destination to potential north
American visitors. 
The tourist authorities hope that one spin-off may be the
development of mor
e multi-centre holidays.
In common with other cruise ship destinations, ther
e have been concerns in
Jamaica that cruise visitors do not provide enough b
enefit to the local
economy. However, a decision to increase the cruise ship
 passenger tax from
Dollars 10 to Dollars 15 has been delayed, apparently fo
llowing pressure
from the cruise ship owners. Government officials have said
 that the
increase would be implemented over three years from January 1994.

</TEXT>
<XX>
Countries:-
</XX>
<CN>JMZ  Jamaica, Caribbean.
</CN>
<XX>
Indus
tries:-
</XX>
<IN>P9611 Administration of General Economic Programs.
    P79
99 Amusement and Recreation, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment
 & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 32 </P
AGE>
</DOC>

============= Transaction # 234 ==============================================
Transaction #:    234       Transaction Code:  19 (Record Selected)        

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT922-10913</DOCNO>
<PROFILE>_AN-CD2BIAALFT</PROFILE>
<DATE>920
429
</DATE>
<HEADLINE> FT  29 APR 92 / World Trade News: Israel basks in war
mth of post-war tourism revival - Quick recovery illustrates its role in Isr
aeli and occupied territories' economies </HEADLINE>
<BYLINE>    By HUGH CAR
NEGY </BYLINE>
<TEXT>
WITHIN the Ottoman walls of old Jerusalem, the market 
traders and souvenir
hawkers who crowd the narrow alleyways around the city'
s holy shrines are
smiling this month. For both Jews and Arabs in the touris
t trade are
enjoying a bumper season after the disaster of 1991 when the Gul
f war kept
away all but the hardiest pilgrims.
According to initial estimate
s by the Israeli ministry of tourism, the peak
period Jewish Passover and Ch
ristian Easter celebrations drew a record
70,000 visitors. This is slightly 
higher than the previous record set in
1990 before the Gulf crisis cast its 
shadow over the Middle East.
To the end of March - before the Passover/Easte
r rush began - the number of
tourist arrivals was only a few thousand short 
of the 348,000 for the same
period in 1990. The contrast with a year ago, wh
en less than a third of that
number came and the Old City streets were eeril
y deserted, could hardly be
greater.
The quick recovery, which began in the 
second half of 1991, has engendered
more than just relief among Israeli and 
Palestinian businesses involved in
the trade. It has illustrated the importa
nce of tourism to both the Israeli
economy and the economy of the occupied t
erritories. And it raises the
question of how great the potential for both s
ides could be if the current
Middle East peace talks yield results.
Smoothin
g out the effect of conflicts such as the Gulf war and the
Palestinian intif
ada (or uprising against Israeli rule) which periodically
afflict the local 
tourism industry, a little less than 1.5m tourists visit
Israel and the occu
pied territories annually. They leave behind them around
Dollars 2bn.
The va
st majority of this revenue goes to Israel and it is a vital
contributor to 
the current account. Mr Gidon Patt, the tourism minister,
says that if the n
umber of visitors could be raised to 3m - not an
unrealistic target consider
ing the potent draw of history and religion, sun
and sea - the earnings woul
d substantially reduce the country's large trade
gap.
On the Palestinian sid
e, the Arab Tourist Industry Co-ordinating Committee,
an umbrella group of o
perators in the occupied territories, estimates the
share Palestinian tour o
perators take of the Dollars 2bn tourism revenues to
be around Dollars 100m.
 This does not take into account the earnings of the
large Palestinian souve
nir industry and related businesses.
'Tourism is and will be one of the main
 income generating industries for the
Palestinians and will be one of the ma
in contributors to Palestinian gross
national product. It will also be one o
f the main foreign currency earners
and will help absorb a high number of em
ployees,' says a study by the ATI
committee.
Both sides agree that to exploi
t the potential of tourism in the immediate
area - and the region as a whole
 - co-operation and political stability is
vital. Operators in Jerusalem say
 just the fact that peace talks have begun
has already had a positive effect
.
Mr Patt's officials have produced a list of proposals for simple measures

such as free movement of tour buses, hire cars and private vehicles across
b
orders which at present remain closed. He is anxious to co-operate with
Pale
stinian operators in tackling the 'Holy Grail' of both sides -
attracting Mo
slem pilgrims who are currently almost non-existent despite the
Dome on the 
Rock's status as the third-holiest Moslem shine.
'You cannot distance yourse
lves from the Israelis because you have to market
the area as a whole,' says
 Mr Hani Abu Dayeh, owner with his brother Sami of
the Palestinian company N
ET, the biggest tour operator in Israel and the
occupied territories. 'The f
uture of tourism is going to depend on strong
co-operation.'
There are, howe
ver, big obstacles in the way. Co-operation means different
things to the tw
o sides.
The Israelis, financially and politically the senior partners, clea
rly
envisage remaining in overall control of the industry. The Palestinians,

meanwhile, looking forward to a day when they have some kind of
independenc
e, see themselves taking control of the attractions in east
Jerusalem and th
e West Bank - which include many of the main draws such as
the Old City, Bet
hlehem and Jericho.
The Palestinians also want to redress what they see as a
 deliberate policy
by Israel since the occupation in 1967 to suppress their 
industry's
development.
There is a chronic imbalance in hotel space, with Pa
lestinians having only
about one-tenth of the Israeli capacity. Lack of inve
stment is partly to
blame, but the ATI committee say licences to build have 
been withheld by
Israel. There is bitter resentment also at the strict rules
 governing
licences for tour guides which have meant only a handful of Pales
tinians
have been licenced as guides against 3,000 for Israelis since 1967.

There are complaints of commercially motivated harassment. Hani and Sami Abu

Dayeh spent 17 days in solitary confinement in 1989 after an armed tax raid

on their offices by the Israeli authorities who said their long-standing ta
x
return arrangements were illegal. The case is still unresolved and they ma
y
yet return to jail for some months
Still, says Hani Abu Dayeh, co-operatio
n on an equal footing is the only way
forward. 'The potential is vast. With 
peace we could catch up to the natural
level of tourism here - and that is s
o big we would not know what to do with
ourselves.
'Israel's travel agents, 
fighting to preserve their monopoly over cut-price
ticket sales, yesterday a
ccused Lufthansa, the German airline, of publishing
an anti-semitic newspape
r advertisement, writes Hugh Carnegy.
Lufthansa has run into opposition from
 the Israeli Association of Travel and
Tour Agents to its proposal to sell b
udget tickets direct to Israel
tourists, by-passing the agents and offering 
a lower price.
The airline ran full-page newspaper adverts on Monday in cart
oon form
showing an Israeli couple seeking to benefit from Lufthansa's offer
 getting
the brush-off from a smug travel agent.
The travel agents associati
on replied with its own adverts yesterday saying
the Lufthansa portrayal of 
the Israeli couple was anti-semitic. Many
Israelis who saw the Lufthansa ads
 - drawn by an Israeli artist - were
puzzled by the accusation.
</TEXT>
<PUB
>The Financial Times </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 235 ==============================================
Transaction #:    235       Transaction Code:  22 (Record(s) Saved)        

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Associated Variable Length Text:

<DOC>
<DOCNO>FT922-10913</DOCNO>
<PROFILE>_AN-CD2BIAALFT</PROFILE>
<DATE>920
429
</DATE>
<HEADLINE> FT  29 APR 92 / World Trade News: Israel basks in war
mth of post-war tourism revival - Quick recovery illustrates its role in Isr
aeli and occupied territories' economies </HEADLINE>
<BYLINE>    By HUGH CAR
NEGY </BYLINE>
<TEXT>
WITHIN the Ottoman walls of old Jerusalem, the market 
traders and souvenir
hawkers who crowd the narrow alleyways around the city'
s holy shrines are
smiling this month. For both Jews and Arabs in the touris
t trade are
enjoying a bumper season after the disaster of 1991 when the Gul
f war kept
away all but the hardiest pilgrims.
According to initial estimate
s by the Israeli ministry of tourism, the peak
period Jewish Passover and Ch
ristian Easter celebrations drew a record
70,000 visitors. This is slightly 
higher than the previous record set in
1990 before the Gulf crisis cast its 
shadow over the Middle East.
To the end of March - before the Passover/Easte
r rush began - the number of
tourist arrivals was only a few thousand short 
of the 348,000 for the same
period in 1990. The contrast with a year ago, wh
en less than a third of that
number came and the Old City streets were eeril
y deserted, could hardly be
greater.
The quick recovery, which began in the 
second half of 1991, has engendered
more than just relief among Israeli and 
Palestinian businesses involved in
the trade. It has illustrated the importa
nce of tourism to both the Israeli
economy and the economy of the occupied t
erritories. And it raises the
question of how great the potential for both s
ides could be if the current
Middle East peace talks yield results.
Smoothin
g out the effect of conflicts such as the Gulf war and the
Palestinian intif
ada (or uprising against Israeli rule) which periodically
afflict the local 
tourism industry, a little less than 1.5m tourists visit
Israel and the occu
pied territories annually. They leave behind them around
Dollars 2bn.
The va
st majority of this revenue goes to Israel and it is a vital
contributor to 
the current account. Mr Gidon Patt, the tourism minister,
says that if the n
umber of visitors could be raised to 3m - not an
unrealistic target consider
ing the potent draw of history and religion, sun
and sea - the earnings woul
d substantially reduce the country's large trade
gap.
On the Palestinian sid
e, the Arab Tourist Industry Co-ordinating Committee,
an umbrella group of o
perators in the occupied territories, estimates the
share Palestinian tour o
perators take of the Dollars 2bn tourism revenues to
be around Dollars 100m.
 This does not take into account the earnings of the
large Palestinian souve
nir industry and related businesses.
'Tourism is and will be one of the main
 income generating industries for the
Palestinians and will be one of the ma
in contributors to Palestinian gross
national product. It will also be one o
f the main foreign currency earners
and will help absorb a high number of em
ployees,' says a study by the ATI
committee.
Both sides agree that to exploi
t the potential of tourism in the immediate
area - and the region as a whole
 - co-operation and political stability is
vital. Operators in Jerusalem say
 just the fact that peace talks have begun
has already had a positive effect
.
Mr Patt's officials have produced a list of proposals for simple measures

such as free movement of tour buses, hire cars and private vehicles across
b
orders which at present remain closed. He is anxious to co-operate with
Pale
stinian operators in tackling the 'Holy Grail' of both sides -
attracting Mo
slem pilgrims who are currently almost non-existent despite the
Dome on the 
Rock's status as the third-holiest Moslem shine.
'You cannot distance yourse
lves from the Israelis because you have to market
the area as a whole,' says
 Mr Hani Abu Dayeh, owner with his brother Sami of
the Palestinian company N
ET, the biggest tour operator in Israel and the
occupied territories. 'The f
uture of tourism is going to depend on strong
co-operation.'
There are, howe
ver, big obstacles in the way. Co-operation means different
things to the tw
o sides.
The Israelis, financially and politically the senior partners, clea
rly
envisage remaining in overall control of the industry. The Palestinians,

meanwhile, looking forward to a day when they have some kind of
independenc
e, see themselves taking control of the attractions in east
Jerusalem and th
e West Bank - which include many of the main draws such as
the Old City, Bet
hlehem and Jericho.
The Palestinians also want to redress what they see as a
 deliberate policy
by Israel since the occupation in 1967 to suppress their 
industry's
development.
There is a chronic imbalance in hotel space, with Pa
lestinians having only
about one-tenth of the Israeli capacity. Lack of inve
stment is partly to
blame, but the ATI committee say licences to build have 
been withheld by
Israel. There is bitter resentment also at the strict rules
 governing
licences for tour guides which have meant only a handful of Pales
tinians
have been licenced as guides against 3,000 for Israelis since 1967.

There are complaints of commercially motivated harassment. Hani and Sami Abu

Dayeh spent 17 days in solitary confinement in 1989 after an armed tax raid

on their offices by the Israeli authorities who said their long-standing ta
x
return arrangements were illegal. The case is still unresolved and they ma
y
yet return to jail for some months
Still, says Hani Abu Dayeh, co-operatio
n on an equal footing is the only way
forward. 'The potential is vast. With 
peace we could catch up to the natural
level of tourism here - and that is s
o big we would not know what to do with
ourselves.
'Israel's travel agents, 
fighting to preserve their monopoly over cut-price
ticket sales, yesterday a
ccused Lufthansa, the German airline, of publishing
an anti-semitic newspape
r advertisement, writes Hugh Carnegy.
Lufthansa has run into opposition from
 the Israeli Association of Travel and
Tour Agents to its proposal to sell b
udget tickets direct to Israel
tourists, by-passing the agents and offering 
a lower price.
The airline ran full-page newspaper adverts on Monday in cart
oon form
showing an Israeli couple seeking to benefit from Lufthansa's offer
 getting
the brush-off from a smug travel agent.
The travel agents associati
on replied with its own adverts yesterday saying
the Lufthansa portrayal of 
the Israeli couple was anti-semitic. Many
Israelis who saw the Lufthansa ads
 - drawn by an Israeli artist - were
puzzled by the accusation.
</TEXT>
<PUB
>The Financial Times </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 236 ==============================================
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<DOC>
<DOCNO>FT943-10451</DOCNO>
<PROFILE>_AN-EHHDNAE0FT</PROFILE>
<DATE>940
804
</DATE>
<HEADLINE> FT  04 AUG 94 / International Company News: Bulgaria 
plans to sell off tour operator </HEADLINE>
<BYLINE>    By THEODOR TROEV </B
YLINE>
<DATELINE>    SOFIA </DATELINE>
<TEXT>
The Bulgarian government is to
 sell off Balkantourist, the largest
state-owned tour operator, with a stake
 of at least 51 per cent being
offered to a single investor.
The remainder w
ill be split between employees and domestic investors, with
employees offere
d 20 per cent.
'We will secure equal terms for foreign and local investors t
o participate
in the privatisation of the company,' said Mr Bonka Hinkova, f
irst
vice-president of the Committee of Tourism in Sofia.
Tui of Germany, In
ghams of the UK - a member of the Hotelplan multinational
concern - and the 
Louis Organisation, a Cyprus-based holding comprising
hotels, tour operators
, cruise lines and airport shops, are interested in
acquiring a majority sta
ke in the company.
Local investors are also lining up to buy a stake.
Privat
e airlines and several of Bulgaria's most powerful private financial
groups,
 including Multigroup, Tourist-Sport Holding, Tron and Bulvar
Holidays, are 
reported to be discussing the opportunity.
Balkantourist, the former tourism
 monopoly, was founded 47 years ago. Until
1990 the company administered all
 tourist facilities in the country.
</TEXT>
<XX>
Companies:-
</XX>
<CO>Balka
ntourist.
</CO>
<XX>
Countries:-
</XX>
<CN>BGZ  Bulgaria, East Europe.
</CN>

<XX>
Industries:-
</XX>
<IN>P4725 Tour Operators.
    P9611 Administration 
of General Economic Programs.
</IN>
<XX>
Types:-
</XX>
<TP>GOVT  Government 
News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> International Page 14 </P
AGE>
</DOC>

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<DOC>
<DOCNO>FT934-4801</DOCNO>
<PROFILE>_AN-DLBCKAC4FT</PROFILE>
<DATE>9312
02
</DATE>
<HEADLINE> FT  02 DEC 93 / After The Budget: Tourism given promot
ion boost </HEADLINE>
<TEXT>
The government has increased funding for the pr
omotion abroad of tourism to
the UK, and reduced proposed cuts in the budget
 of the English Tourist
Board, which encourages UK residents to take holiday
s in England.
Government funding of the British Tourist Authority - which pr
omotes Britain
to overseas visitors - is to rise from Pounds 32m in 1993-94 
to Pounds 34m
in 1995-96, Pounds 500,000 higher than government projections 
published a
year ago. The English board, which aims to improve facilities, i
s to see its
funding fall from Pounds 13.9m in 1993-94 to Pounds 10m in 1995
-96. However,
this figure is Pounds 1m higher than previous government plans
.
The authority and the board yesterday said the increases were 'mildly
enco
uraging'.
</TEXT>
<XX>
Countries:-
</XX>
<CN>GBZ  United Kingdom, EC.
</CN>

<XX>
Industries:-
</XX>
<IN>P9311 Finance, Taxation, and Monetary Policy.
  
  P7999 Amusement and Recreation, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS  Ge
neral News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 13 </PA
GE>
</DOC>

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============= Transaction # 239 ==============================================
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<DOC>
<DOCNO>FT942-7298</DOCNO>
<PROFILE>_AN-EEZDOAC0FT</PROFILE>
<DATE>9405
26
</DATE>
<HEADLINE> FT  26 MAY 94 / CBI aims to boost tourism </HEADLINE>

<BYLINE>    By MICHAEL SKAPINKER, Leisure Industries Correspondent </BYLINE>

<TEXT>
The Confederation of British Industry yesterday moved tourism closer
 to the
top of its agenda, admitting that it had paid insufficient attention
 to the
industry in the past.
In its first response to this week's white pap
er on competitiveness, the CBI
said it was setting up a Tourism Action Group
 to raise the industry's
profile. The paper said UK tourism was losing marke
t share. The CBI also
published a report on tourism, saying the industry had
 the potential to
create many jobs.
Mr Howard Davies, CBI director-general, 
said tourism employment grew by 31
per cent between 1983 and last year, well
 above the rate for the economy as
a whole. He said tourism was one of the c
ountry's leading industries, with
annual revenues of Pounds 29.6bn, accounti
ng for 5.6 per cent of gross
domestic product, and earning Pounds 10bn in fo
reign exchange a year. It
employed more than 1.4m people - 6 per cent of UK 
employment.
Mr Davies said the tourist industry worldwide was expected to do
uble in size
by the year 2005. Although the UK was the world's sixth-biggest
 earner of
tourist receipts, its US dollar market share had fallen from 6.8 
per cent in
1980 to 4.2 per cent today.
British tourism faced increased comp
etition, he said. However, he added that
the UK had a good reputation in tou
rist markets such as the US and,
increasingly, in western Europe and Japan.

The new CBI group will urge greater support from the government in areas
suc
h as tax and public transport. It will also encourage better training.
A Wea
lth of Attractions. CBI, Centre Point, 103 New Oxford Street, London
WC1A 1D
U. Pounds 10. CBI members Pounds 5.
</TEXT>
<XX>
Countries:-
</XX>
<CN>GBZ  
United Kingdom, EC.
</CN>
<XX>
Industries:-
</XX>
<IN>P9611 Administration o
f General Economic Programs.
    P79   Amusement and Recreation Services.
</
IN>
<XX>
Types:-
</XX>
<TP>ECON  Economic Indicators.
</TP>
<PUB>The Financi
al Times </PUB>
<PAGE> London Page 13 </PAGE>
</DOC>

============= Transaction # 240 ==============================================
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<DOC>
<DOCNO>FT942-4191</DOCNO>
<PROFILE>_AN-EFJCMAGDFT</PROFILE>
<DATE>9406
10
</DATE>
<HEADLINE> FT  10 JUN 94 / Survey of Uganda (8): On the track of 
gentle giants - Leslie Crawford looks at tourism </HEADLINE>
<BYLINE>    By 
LESLIE CRAWFORD </BYLINE>
<TEXT>
The heart of Bwindi's Impenetrable Forest i
n southern Uganda is home to
almost half the world's population of mountain 
gorillas - a rare and
endangered species of which fewer than 650 remain. To 
protect Bwindi's
gentle giants, gorilla tracking permits are strictly ration
ed: only six
visitors are allowed to enter Bwindi national park each day. Ev
en if
gorillas are not sighted, the experience of exploring Bwindi's virgin

jungle, under the canopy of huge tropical hardwoods, lianas and orchids, is

mysterious and unforgettable.
For the foreseeable future, Uganda's appeal to
 the foreign visitor will
centre on 'special interest' activities: mountain 
trekking in the Ruwenzoris
 -the legendary Mountains of the Moon; a visit to
 Bwindi, or the equally
remote savannah grasslands of the Kidepo Valley near
 the frontier with
Sudan. It is also in Uganda where the Nile begins its 4,0
00-mile journey to
the Mediterranean.
International tour operators have begu
n to include Uganda on their East
African safari circuits, encouraged by the
 country's efforts to recover its
neglected tourism infrastructure. Abercrom
bie & Kent have set up two tented
camps near Bwindi and Murchison Falls, and
 plan to transform the Lake
Victoria Hotel near Entebbe into their five-star
 showcase in Uganda. Tim
Somerset Webb, president of A & K Overseas Ltd, say
s he is finalising an
agreement for the management contract and an equity pa
rticipation in Lake
Victoria Hotel with the state-owned Uganda Hotels Ltd.
A
ccommodation in Kampala remains overpriced and somewhat below international

standards, but a number of hotels in the capital are undergoing upgrading
an
d renovation. About 40 local tour operators provide an increasing range of
s
ervices for the adventurous traveller.
At the Uganda Tourist Board, above th
e British Council offices in Kampala,
Freddie Irumba likes to take the long-
term view. 'We have to be both
cautious and sensible about promoting Uganda 
as a holiday destination,' he
says. 'Until our hotels are rehabilitated, the
 road network improved and our
passenger handling facilities at the airport 
are up to scratch, we should
not aim to attract large numbers of visitors.' 
He says the number of
visitors is rising by 20 per cent each year, and estim
ates arrivals will top
80,000 in 1994.
</TEXT>
<XX>
Countries:-
</XX>
<CN>UG
Z  Uganda, Africa.
</CN>
<XX>
Industries:-
</XX>
<IN>P7999 Amusement and Rec
reation, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment & Analysis.
</TP>
<
PUB>The Financial Times </PUB>
<PAGE> London Page 34 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT942-4191</DOCNO>
<PROFILE>_AN-EFJCMAGDFT</PROFILE>
<DATE>9406
10
</DATE>
<HEADLINE> FT  10 JUN 94 / Survey of Uganda (8): On the track of 
gentle giants - Leslie Crawford looks at tourism </HEADLINE>
<BYLINE>    By 
LESLIE CRAWFORD </BYLINE>
<TEXT>
The heart of Bwindi's Impenetrable Forest i
n southern Uganda is home to
almost half the world's population of mountain 
gorillas - a rare and
endangered species of which fewer than 650 remain. To 
protect Bwindi's
gentle giants, gorilla tracking permits are strictly ration
ed: only six
visitors are allowed to enter Bwindi national park each day. Ev
en if
gorillas are not sighted, the experience of exploring Bwindi's virgin

jungle, under the canopy of huge tropical hardwoods, lianas and orchids, is

mysterious and unforgettable.
For the foreseeable future, Uganda's appeal to
 the foreign visitor will
centre on 'special interest' activities: mountain 
trekking in the Ruwenzoris
 -the legendary Mountains of the Moon; a visit to
 Bwindi, or the equally
remote savannah grasslands of the Kidepo Valley near
 the frontier with
Sudan. It is also in Uganda where the Nile begins its 4,0
00-mile journey to
the Mediterranean.
International tour operators have begu
n to include Uganda on their East
African safari circuits, encouraged by the
 country's efforts to recover its
neglected tourism infrastructure. Abercrom
bie & Kent have set up two tented
camps near Bwindi and Murchison Falls, and
 plan to transform the Lake
Victoria Hotel near Entebbe into their five-star
 showcase in Uganda. Tim
Somerset Webb, president of A & K Overseas Ltd, say
s he is finalising an
agreement for the management contract and an equity pa
rticipation in Lake
Victoria Hotel with the state-owned Uganda Hotels Ltd.
A
ccommodation in Kampala remains overpriced and somewhat below international

standards, but a number of hotels in the capital are undergoing upgrading
an
d renovation. About 40 local tour operators provide an increasing range of
s
ervices for the adventurous traveller.
At the Uganda Tourist Board, above th
e British Council offices in Kampala,
Freddie Irumba likes to take the long-
term view. 'We have to be both
cautious and sensible about promoting Uganda 
as a holiday destination,' he
says. 'Until our hotels are rehabilitated, the
 road network improved and our
passenger handling facilities at the airport 
are up to scratch, we should
not aim to attract large numbers of visitors.' 
He says the number of
visitors is rising by 20 per cent each year, and estim
ates arrivals will top
80,000 in 1994.
</TEXT>
<XX>
Countries:-
</XX>
<CN>UG
Z  Uganda, Africa.
</CN>
<XX>
Industries:-
</XX>
<IN>P7999 Amusement and Rec
reation, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment & Analysis.
</TP>
<
PUB>The Financial Times </PUB>
<PAGE> London Page 34 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT942-4191</DOCNO>
<PROFILE>_AN-EFJCMAGDFT</PROFILE>
<DATE>9406
10
</DATE>
<HEADLINE> FT  10 JUN 94 / Survey of Uganda (8): On the track of 
gentle giants - Leslie Crawford looks at tourism </HEADLINE>
<BYLINE>    By 
LESLIE CRAWFORD </BYLINE>
<TEXT>
The heart of Bwindi's Impenetrable Forest i
n southern Uganda is home to
almost half the world's population of mountain 
gorillas - a rare and
endangered species of which fewer than 650 remain. To 
protect Bwindi's
gentle giants, gorilla tracking permits are strictly ration
ed: only six
visitors are allowed to enter Bwindi national park each day. Ev
en if
gorillas are not sighted, the experience of exploring Bwindi's virgin

jungle, under the canopy of huge tropical hardwoods, lianas and orchids, is

mysterious and unforgettable.
For the foreseeable future, Uganda's appeal to
 the foreign visitor will
centre on 'special interest' activities: mountain 
trekking in the Ruwenzoris
 -the legendary Mountains of the Moon; a visit to
 Bwindi, or the equally
remote savannah grasslands of the Kidepo Valley near
 the frontier with
Sudan. It is also in Uganda where the Nile begins its 4,0
00-mile journey to
the Mediterranean.
International tour operators have begu
n to include Uganda on their East
African safari circuits, encouraged by the
 country's efforts to recover its
neglected tourism infrastructure. Abercrom
bie & Kent have set up two tented
camps near Bwindi and Murchison Falls, and
 plan to transform the Lake
Victoria Hotel near Entebbe into their five-star
 showcase in Uganda. Tim
Somerset Webb, president of A & K Overseas Ltd, say
s he is finalising an
agreement for the management contract and an equity pa
rticipation in Lake
Victoria Hotel with the state-owned Uganda Hotels Ltd.
A
ccommodation in Kampala remains overpriced and somewhat below international

standards, but a number of hotels in the capital are undergoing upgrading
an
d renovation. About 40 local tour operators provide an increasing range of
s
ervices for the adventurous traveller.
At the Uganda Tourist Board, above th
e British Council offices in Kampala,
Freddie Irumba likes to take the long-
term view. 'We have to be both
cautious and sensible about promoting Uganda 
as a holiday destination,' he
says. 'Until our hotels are rehabilitated, the
 road network improved and our
passenger handling facilities at the airport 
are up to scratch, we should
not aim to attract large numbers of visitors.' 
He says the number of
visitors is rising by 20 per cent each year, and estim
ates arrivals will top
80,000 in 1994.
</TEXT>
<XX>
Countries:-
</XX>
<CN>UG
Z  Uganda, Africa.
</CN>
<XX>
Industries:-
</XX>
<IN>P7999 Amusement and Rec
reation, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment & Analysis.
</TP>
<
PUB>The Financial Times </PUB>
<PAGE> London Page 34 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT924-8279</DOCNO>
<PROFILE>_AN-CKLB2AA5FT</PROFILE>
<DATE>9211
12
</DATE>
<HEADLINE> FT  12 NOV 92 / Survey of Jordan (9): Culture worth mo
re than camels - The untapped tourist potential presents a delicate problem 
</HEADLINE>
<BYLINE>    By HUGH CARNEGY </BYLINE>
<TEXT>
WADI RUM, the place
 where TE Lawrence and the Arab rebels he was riding with
in 1917 were stunn
ed into silence by the 'stupendous' surroundings, must
rank among the world'
s most impressive desert landscapes.
Yet over a period of four hours on a la
te October day, when the worst of the
broiling summer heat has faded, not ma
ny more than 50 visitors arrived at
the little Bedouin settlement and pictur
esque 'Beau Geste' police post which
serve as the departure point for journe
ys by camel or four-wheel drive
vehicles into the sandy-floored Wadi.
More c
ome by bus in the late afternoon to watch the sun set over the great
brown f
ractured cliffsides towering over either side of the valley. But the
Wadi - 
about 50km as the crow flies north east of the Red Sea port of Aqaba
 -remai
ns remarkably little tainted by the tramp of tourist masses.
So it is at mos
t of Jordan's rich tourist attractions. At the most famous of
all, the extra
ordinary rock-cut Nabataean city of Petra, south east of the
Dead Sea, visit
or accommodation is still limited to just 400 beds. On the
Dead Sea itself, 
where the minerals in the water and the atmospheric
conditions provide relie
f for many skin and other ailments, there is only
one hotel.
Elsewhere, from
 the beautifully preserved Roman city of Jerash, north of
Amman, to evocativ
e crusader castles such as Kerak, the story is the same:
few tourist facilit
ies, and relatively few tourists.
The government in Amman is well aware of t
he untapped tourist potential in
the country. It is working to develop the l
ocal industry, worried about
being left behind by its neighbours, Egypt, Isr
ael and even the well-oiled
Palestinian tour operators in Israeli-occupied E
ast Jerusalem and the West
Bank.
But the authorities are faced with a delica
te task. Much of the attraction
of Jordan lies in the unspoilt nature of its
 sites. To increase volume too
much and too fast could easily be to kill the
 goose that laid the golden
egg.
This year, tourists have returned to Jordan
 in large numbers following the
1991 slump induced by the Gulf war - as they
 have done throughout the east
Mediterranean area. Officials say the volume 
will match the 1989 peak of
380,000 visitors, reaffirming tourism's place as
 the country's
second-biggest earning industry. Gross earnings of some Dolla
rs 500m in 1989
accounted for 17 per cent of gross national product.
But Mr 
Yanal Hikmat, the minister of tourism, says he is anxious to avoid
expanding
 into the mass market. 'I have always wanted to raise Jordan above
the level
 of the belly dancers and camel caravans to a more cultural and
educational 
type of tourism. I think we would be satisfied with 1m visitors
a year by th
e year 2000, well catered for and well serviced.'
His senior official in the
 ministry, Mr Nasri Attallah, echoes this. 'Our
success lies in simplicity. 
Our sites are untouched, they have mystery, they
are uncrowded. Local people
 still mix with tourists. We very much want to
preserve that.'
Certainly, vi
sitors have up to now benefited from the relative lack of
crowds - and welco
me features such as fixed prices for horse and camel rides
at Petra and Wadi
 Rum that contrast with the chaotic rip-offs endemic to the
tourist industry
 in Egypt.
But the best intentions may be swept away by fast-growing demand 
and the
need to keep up with neighbouring competitors. This will be particul
arly
true if Middle East peace negotiations eventually yield open borders fo
r
tourists. The prospect of Jordan becoming little more than a day trip for

visitors from Israel, Palestine and even Egypt is real and worrying.
Petra, 
for example, would be easily accessible to day trips from the Israeli
Red Se
a resort of Eilat and the neighbouring Egyptian resort of Taba. Both
at pres
ent have hotel facilities far more sophisticated than Jordan's Aqaba,
also o
n the same strip of coast.
'I want to make sure these people stay in Jordan 
at least two nights and do
not just pass by in one day,' says Mr Hikmat. His
 overall intention is to
extend the average stay in Jordan beyond the presen
t five to six nights.
To achieve that, Jordan must have the accommodation to
 compete. So it is
looking to the private sector to invest, providing incent
ives such as easy
terms for land acquisition and duty free imports. Two new 
privately-built
hotels will open in Petra next year, doubling local bed capa
city. (A further
doubling is planned by 1995.)
But this quickly raises the t
ricky question of preserving the remoteness of
such sites - which gives them
 so much of their cachet now. Already the
authorities are considering whethe
r to limit passage into Petra through the
famed 'siq', or narrow defile, to 
entry only, leading visitors out by an
alternative route.
As Mr Attallah say
s, Jordan's problem is to expand tourism while wearing
'kid gloves'.
</TEXT>

<PUB>The Financial Times </PUB>
<PAGE> London Page 36 </PAGE>
</DOC>

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<DOCNO>FT924-8279</DOCNO>
<PROFILE>_AN-CKLB2AA5FT</PROFILE>
<DATE>9211
12
</DATE>
<HEADLINE> FT  12 NOV 92 / Survey of Jordan (9): Culture worth mo
re than camels - The untapped tourist potential presents a delicate problem 
</HEADLINE>
<BYLINE>    By HUGH CARNEGY </BYLINE>
<TEXT>
WADI RUM, the place
 where TE Lawrence and the Arab rebels he was riding with
in 1917 were stunn
ed into silence by the 'stupendous' surroundings, must
rank among the world'
s most impressive desert landscapes.
Yet over a period of four hours on a la
te October day, when the worst of the
broiling summer heat has faded, not ma
ny more than 50 visitors arrived at
the little Bedouin settlement and pictur
esque 'Beau Geste' police post which
serve as the departure point for journe
ys by camel or four-wheel drive
vehicles into the sandy-floored Wadi.
More c
ome by bus in the late afternoon to watch the sun set over the great
brown f
ractured cliffsides towering over either side of the valley. But the
Wadi - 
about 50km as the crow flies north east of the Red Sea port of Aqaba
 -remai
ns remarkably little tainted by the tramp of tourist masses.
So it is at mos
t of Jordan's rich tourist attractions. At the most famous of
all, the extra
ordinary rock-cut Nabataean city of Petra, south east of the
Dead Sea, visit
or accommodation is still limited to just 400 beds. On the
Dead Sea itself, 
where the minerals in the water and the atmospheric
conditions provide relie
f for many skin and other ailments, there is only
one hotel.
Elsewhere, from
 the beautifully preserved Roman city of Jerash, north of
Amman, to evocativ
e crusader castles such as Kerak, the story is the same:
few tourist facilit
ies, and relatively few tourists.
The government in Amman is well aware of t
he untapped tourist potential in
the country. It is working to develop the l
ocal industry, worried about
being left behind by its neighbours, Egypt, Isr
ael and even the well-oiled
Palestinian tour operators in Israeli-occupied E
ast Jerusalem and the West
Bank.
But the authorities are faced with a delica
te task. Much of the attraction
of Jordan lies in the unspoilt nature of its
 sites. To increase volume too
much and too fast could easily be to kill the
 goose that laid the golden
egg.
This year, tourists have returned to Jordan
 in large numbers following the
1991 slump induced by the Gulf war - as they
 have done throughout the east
Mediterranean area. Officials say the volume 
will match the 1989 peak of
380,000 visitors, reaffirming tourism's place as
 the country's
second-biggest earning industry. Gross earnings of some Dolla
rs 500m in 1989
accounted for 17 per cent of gross national product.
But Mr 
Yanal Hikmat, the minister of tourism, says he is anxious to avoid
expanding
 into the mass market. 'I have always wanted to raise Jordan above
the level
 of the belly dancers and camel caravans to a more cultural and
educational 
type of tourism. I think we would be satisfied with 1m visitors
a year by th
e year 2000, well catered for and well serviced.'
His senior official in the
 ministry, Mr Nasri Attallah, echoes this. 'Our
success lies in simplicity. 
Our sites are untouched, they have mystery, they
are uncrowded. Local people
 still mix with tourists. We very much want to
preserve that.'
Certainly, vi
sitors have up to now benefited from the relative lack of
crowds - and welco
me features such as fixed prices for horse and camel rides
at Petra and Wadi
 Rum that contrast with the chaotic rip-offs endemic to the
tourist industry
 in Egypt.
But the best intentions may be swept away by fast-growing demand 
and the
need to keep up with neighbouring competitors. This will be particul
arly
true if Middle East peace negotiations eventually yield open borders fo
r
tourists. The prospect of Jordan becoming little more than a day trip for

visitors from Israel, Palestine and even Egypt is real and worrying.
Petra, 
for example, would be easily accessible to day trips from the Israeli
Red Se
a resort of Eilat and the neighbouring Egyptian resort of Taba. Both
at pres
ent have hotel facilities far more sophisticated than Jordan's Aqaba,
also o
n the same strip of coast.
'I want to make sure these people stay in Jordan 
at least two nights and do
not just pass by in one day,' says Mr Hikmat. His
 overall intention is to
extend the average stay in Jordan beyond the presen
t five to six nights.
To achieve that, Jordan must have the accommodation to
 compete. So it is
looking to the private sector to invest, providing incent
ives such as easy
terms for land acquisition and duty free imports. Two new 
privately-built
hotels will open in Petra next year, doubling local bed capa
city. (A further
doubling is planned by 1995.)
But this quickly raises the t
ricky question of preserving the remoteness of
such sites - which gives them
 so much of their cachet now. Already the
authorities are considering whethe
r to limit passage into Petra through the
famed 'siq', or narrow defile, to 
entry only, leading visitors out by an
alternative route.
As Mr Attallah say
s, Jordan's problem is to expand tourism while wearing
'kid gloves'.
</TEXT>

<PUB>The Financial Times </PUB>
<PAGE> London Page 36 </PAGE>
</DOC>

============= Transaction # 245 ==============================================
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<DOC>
<DOCNO>FT924-8279</DOCNO>
<PROFILE>_AN-CKLB2AA5FT</PROFILE>
<DATE>9211
12
</DATE>
<HEADLINE> FT  12 NOV 92 / Survey of Jordan (9): Culture worth mo
re than camels - The untapped tourist potential presents a delicate problem 
</HEADLINE>
<BYLINE>    By HUGH CARNEGY </BYLINE>
<TEXT>
WADI RUM, the place
 where TE Lawrence and the Arab rebels he was riding with
in 1917 were stunn
ed into silence by the 'stupendous' surroundings, must
rank among the world'
s most impressive desert landscapes.
Yet over a period of four hours on a la
te October day, when the worst of the
broiling summer heat has faded, not ma
ny more than 50 visitors arrived at
the little Bedouin settlement and pictur
esque 'Beau Geste' police post which
serve as the departure point for journe
ys by camel or four-wheel drive
vehicles into the sandy-floored Wadi.
More c
ome by bus in the late afternoon to watch the sun set over the great
brown f
ractured cliffsides towering over either side of the valley. But the
Wadi - 
about 50km as the crow flies north east of the Red Sea port of Aqaba
 -remai
ns remarkably little tainted by the tramp of tourist masses.
So it is at mos
t of Jordan's rich tourist attractions. At the most famous of
all, the extra
ordinary rock-cut Nabataean city of Petra, south east of the
Dead Sea, visit
or accommodation is still limited to just 400 beds. On the
Dead Sea itself, 
where the minerals in the water and the atmospheric
conditions provide relie
f for many skin and other ailments, there is only
one hotel.
Elsewhere, from
 the beautifully preserved Roman city of Jerash, north of
Amman, to evocativ
e crusader castles such as Kerak, the story is the same:
few tourist facilit
ies, and relatively few tourists.
The government in Amman is well aware of t
he untapped tourist potential in
the country. It is working to develop the l
ocal industry, worried about
being left behind by its neighbours, Egypt, Isr
ael and even the well-oiled
Palestinian tour operators in Israeli-occupied E
ast Jerusalem and the West
Bank.
But the authorities are faced with a delica
te task. Much of the attraction
of Jordan lies in the unspoilt nature of its
 sites. To increase volume too
much and too fast could easily be to kill the
 goose that laid the golden
egg.
This year, tourists have returned to Jordan
 in large numbers following the
1991 slump induced by the Gulf war - as they
 have done throughout the east
Mediterranean area. Officials say the volume 
will match the 1989 peak of
380,000 visitors, reaffirming tourism's place as
 the country's
second-biggest earning industry. Gross earnings of some Dolla
rs 500m in 1989
accounted for 17 per cent of gross national product.
But Mr 
Yanal Hikmat, the minister of tourism, says he is anxious to avoid
expanding
 into the mass market. 'I have always wanted to raise Jordan above
the level
 of the belly dancers and camel caravans to a more cultural and
educational 
type of tourism. I think we would be satisfied with 1m visitors
a year by th
e year 2000, well catered for and well serviced.'
His senior official in the
 ministry, Mr Nasri Attallah, echoes this. 'Our
success lies in simplicity. 
Our sites are untouched, they have mystery, they
are uncrowded. Local people
 still mix with tourists. We very much want to
preserve that.'
Certainly, vi
sitors have up to now benefited from the relative lack of
crowds - and welco
me features such as fixed prices for horse and camel rides
at Petra and Wadi
 Rum that contrast with the chaotic rip-offs endemic to the
tourist industry
 in Egypt.
But the best intentions may be swept away by fast-growing demand 
and the
need to keep up with neighbouring competitors. This will be particul
arly
true if Middle East peace negotiations eventually yield open borders fo
r
tourists. The prospect of Jordan becoming little more than a day trip for

visitors from Israel, Palestine and even Egypt is real and worrying.
Petra, 
for example, would be easily accessible to day trips from the Israeli
Red Se
a resort of Eilat and the neighbouring Egyptian resort of Taba. Both
at pres
ent have hotel facilities far more sophisticated than Jordan's Aqaba,
also o
n the same strip of coast.
'I want to make sure these people stay in Jordan 
at least two nights and do
not just pass by in one day,' says Mr Hikmat. His
 overall intention is to
extend the average stay in Jordan beyond the presen
t five to six nights.
To achieve that, Jordan must have the accommodation to
 compete. So it is
looking to the private sector to invest, providing incent
ives such as easy
terms for land acquisition and duty free imports. Two new 
privately-built
hotels will open in Petra next year, doubling local bed capa
city. (A further
doubling is planned by 1995.)
But this quickly raises the t
ricky question of preserving the remoteness of
such sites - which gives them
 so much of their cachet now. Already the
authorities are considering whethe
r to limit passage into Petra through the
famed 'siq', or narrow defile, to 
entry only, leading visitors out by an
alternative route.
As Mr Attallah say
s, Jordan's problem is to expand tourism while wearing
'kid gloves'.
</TEXT>

<PUB>The Financial Times </PUB>
<PAGE> London Page 36 </PAGE>
</DOC>

============= Transaction # 246 ==============================================
Transaction #:    246       Transaction Code:  39 (Full Doc Window --TREC) 

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<DOC>
<DOCNO>FT944-4346</DOCNO>
<PROFILE>_AN-ELHD0AGVFT</PROFILE>
<DATE>9412
08
</DATE>
<HEADLINE> FT  08 DEC 94 / Survey of Vietnam (4): Big money yet t
o be seen - Lack of infrastructure is constraining tourism </HEADLINE>
<BYLI
NE>    By KIERAN COOKE </BYLINE>
<TEXT>
In the early 1970s Bui Xuan Nhat was
 a key figure in the Paris negotiations
aimed at ending the war in Vietnam a
nd putting a stop to US involvement in
the country. Twenty years on, Mr Nhat
, a former diplomat, now deputy
chairman of Vietnam's tourist authority, is 
trying to woo Americans back to
explore the beauties of his country and revi
sit old battlefields.
'We think the US is a very big market for our tourism 
industry,' says Mr
Nhat. 'Hundreds of thousands of American troops were here
. Many of them want
to come back and see where they fought.'
Already there a
re special tours for American war veterans, with visits
organised to battle 
sites such as Khe Sanh and along the Ho Chi Minh trail.
Vets can see some of
 the mountain of US weaponry left behind when Vietnamese
forces finally took
 control of Ho Chi Minh City in 1975. They can even buy
back some of their o
ld kit from souvenir shops at the city's war crimes
museum.
But the US touri
st assault on Vietnam has yet to take place. The French, in
the country long
 before the Americans, are back in large numbers. Vietnam
has become the lat
est vogue tourist spot for many other Europeans. Numbers
are rising fast: ac
cording to official statistics Vietnam had 250,000
tourists in 1990. This ro
se to more than 650,000 in 1993 and forecasts for
this year predict at least
 900,000 visitors.
'We aim to have more than three million tourists by the e
nd of the century,'
says Mr Nhat. 'Tourism will make a big contribution to o
ur foreign exchange
earnings. There are some problems in the industry but we
 are confident they
can be overcome.'
Some might feel Mr Nhat is being overl
y optimistic. For the moment, Vietnam
is an excellent destination for the mo
re adventurous type of traveller. But
the real tourist revenues come from bi
g tour packages, not from small groups
of intrepid explorers.
Vietnam's chro
nic lack of infrastructure - from paved roads to power and
drinkable water -
 is a serious constraint on any large scale development of
the tourism secto
r. Tourist facilities outside the main cities are virtually
non-existent.
Th
ere is already a serious shortage of hotel accommodation in both Ho Chi
Minh
 City and Hanoi. People are hungry for jobs. But the country lacks a
pool of
 trained hotel staff. Hotel operators have to build up their
businesses from
 scratch.
A standard room in Hanoi's leading hotel costs nearly Dollars 200 
per night.
Top class hotels in other parts of Asia offer both better rates a
nd service.
Officials say that Vietnam now has a total of 32,000 hotel rooms
, with only
half of them considered fit for foreign tourists. New hotels are
 being
built. A US group has plans for a Dollars 240m tourist complex on the
 coast
near Danang in central Vietnam. Foreign investors, led by Singaporean
s and
Malaysians, are queueing up to build hotels in Ho Chi Minh City and Ha
noi.
Progress on these projects is slow. More than 100 foreign-funded touris
t
projects involving investments of more than Dollars 1bn have been register
ed
with the authorities but few have progressed from the paperwork stage.
As
 in many sectors of Vietnam's economic planning, developers have found
that 
official central government policy is often at variance with the views
of po
litically powerful local Peoples Committees. Establishing land titles,
movin
g people from development areas plus settling compensation claims have
prove
d serious obstacles for tourism-related projects.
Mr Nhat is aware of the bu
reaucratic hold-ups in the system. But there is
also the danger that by allo
wing a haphazard, unregulated approach to
tourism, Vietnam might risk destro
ying the very things visitors want to see.
One of the attractions of Hanoi i
s its old style French colonial
architecture and its tree lined boulevards. 
Many of the old villas are
crumbling and in dire need of repair. But unregul
ated property development,
including a mushrooming of small, often ugly, hot
els with modern facades, is
already threatening to spoil the look of parts o
f Vietnam's capital.
Mr Nhat says that he does not want to see Vietnam devel
oping the same sort
of tourist industry as that of Thailand. Yet signs are a
lready emerging that
Ho Chi Minh City is reverting to its old ways with a re
cent proliferation of
massage parlours and risque bars.
Vietnam might not be
 able to keep the bulk of its tourist earnings within
the country. Every sec
tor of the economy lacks capital. Foreign tour
operators, having invested fu
nds in order to set up various facilities in
Vietnam, could insist that they
 retain a sizeable slice of the revenues.
'We have no choice,' says Mr Nhat.
 'We have to seek partnerships with
foreign companies, not only to use their
 capital resources but also to learn
the industry from them. We are just sta
rting. I hope we can learn from the
experience and mistakes of others.'
 ---
--------------------------------------------------
        HOTEL DEVELOPMENT
: PROPOSED NEW ROOMS
 -----------------------------------------------------

Destination                       By 2000
 ---------------------------------
--------------------
Ho Chi Minh City                   10,000
Hanoi        
                       6,771
Vung Tau                              728
Haiph
ong                               90
Danang                              2,4
78
Dalat                                 182
Phan Rang                      
       117
Hue                                   250
Nha Trang              
             1,328
Total                              21,944
 --------------
---------------------------------------
Source: BDO Hospitality Consulting
 
-----------------------------------------------------
</TEXT>
<XX>
Countries
:-
</XX>
<CN>VNZ  Vietnam, Asia.
</CN>
<XX>
Industries:-
</XX>
<IN>P7999 Amu
sement and Recreation, NEC.
    P9611 Administration of General Economic Pro
grams.
    P7011 Hotels and Motels.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comme
nt & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 40 <
/PAGE>
</DOC>

============= Transaction # 247 ==============================================
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Associated Variable Length Text:

<DOC>
<DOCNO>FT944-4346</DOCNO>
<PROFILE>_AN-ELHD0AGVFT</PROFILE>
<DATE>9412
08
</DATE>
<HEADLINE> FT  08 DEC 94 / Survey of Vietnam (4): Big money yet t
o be seen - Lack of infrastructure is constraining tourism </HEADLINE>
<BYLI
NE>    By KIERAN COOKE </BYLINE>
<TEXT>
In the early 1970s Bui Xuan Nhat was
 a key figure in the Paris negotiations
aimed at ending the war in Vietnam a
nd putting a stop to US involvement in
the country. Twenty years on, Mr Nhat
, a former diplomat, now deputy
chairman of Vietnam's tourist authority, is 
trying to woo Americans back to
explore the beauties of his country and revi
sit old battlefields.
'We think the US is a very big market for our tourism 
industry,' says Mr
Nhat. 'Hundreds of thousands of American troops were here
. Many of them want
to come back and see where they fought.'
Already there a
re special tours for American war veterans, with visits
organised to battle 
sites such as Khe Sanh and along the Ho Chi Minh trail.
Vets can see some of
 the mountain of US weaponry left behind when Vietnamese
forces finally took
 control of Ho Chi Minh City in 1975. They can even buy
back some of their o
ld kit from souvenir shops at the city's war crimes
museum.
But the US touri
st assault on Vietnam has yet to take place. The French, in
the country long
 before the Americans, are back in large numbers. Vietnam
has become the lat
est vogue tourist spot for many other Europeans. Numbers
are rising fast: ac
cording to official statistics Vietnam had 250,000
tourists in 1990. This ro
se to more than 650,000 in 1993 and forecasts for
this year predict at least
 900,000 visitors.
'We aim to have more than three million tourists by the e
nd of the century,'
says Mr Nhat. 'Tourism will make a big contribution to o
ur foreign exchange
earnings. There are some problems in the industry but we
 are confident they
can be overcome.'
Some might feel Mr Nhat is being overl
y optimistic. For the moment, Vietnam
is an excellent destination for the mo
re adventurous type of traveller. But
the real tourist revenues come from bi
g tour packages, not from small groups
of intrepid explorers.
Vietnam's chro
nic lack of infrastructure - from paved roads to power and
drinkable water -
 is a serious constraint on any large scale development of
the tourism secto
r. Tourist facilities outside the main cities are virtually
non-existent.
Th
ere is already a serious shortage of hotel accommodation in both Ho Chi
Minh
 City and Hanoi. People are hungry for jobs. But the country lacks a
pool of
 trained hotel staff. Hotel operators have to build up their
businesses from
 scratch.
A standard room in Hanoi's leading hotel costs nearly Dollars 200 
per night.
Top class hotels in other parts of Asia offer both better rates a
nd service.
Officials say that Vietnam now has a total of 32,000 hotel rooms
, with only
half of them considered fit for foreign tourists. New hotels are
 being
built. A US group has plans for a Dollars 240m tourist complex on the
 coast
near Danang in central Vietnam. Foreign investors, led by Singaporean
s and
Malaysians, are queueing up to build hotels in Ho Chi Minh City and Ha
noi.
Progress on these projects is slow. More than 100 foreign-funded touris
t
projects involving investments of more than Dollars 1bn have been register
ed
with the authorities but few have progressed from the paperwork stage.
As
 in many sectors of Vietnam's economic planning, developers have found
that 
official central government policy is often at variance with the views
of po
litically powerful local Peoples Committees. Establishing land titles,
movin
g people from development areas plus settling compensation claims have
prove
d serious obstacles for tourism-related projects.
Mr Nhat is aware of the bu
reaucratic hold-ups in the system. But there is
also the danger that by allo
wing a haphazard, unregulated approach to
tourism, Vietnam might risk destro
ying the very things visitors want to see.
One of the attractions of Hanoi i
s its old style French colonial
architecture and its tree lined boulevards. 
Many of the old villas are
crumbling and in dire need of repair. But unregul
ated property development,
including a mushrooming of small, often ugly, hot
els with modern facades, is
already threatening to spoil the look of parts o
f Vietnam's capital.
Mr Nhat says that he does not want to see Vietnam devel
oping the same sort
of tourist industry as that of Thailand. Yet signs are a
lready emerging that
Ho Chi Minh City is reverting to its old ways with a re
cent proliferation of
massage parlours and risque bars.
Vietnam might not be
 able to keep the bulk of its tourist earnings within
the country. Every sec
tor of the economy lacks capital. Foreign tour
operators, having invested fu
nds in order to set up various facilities in
Vietnam, could insist that they
 retain a sizeable slice of the revenues.
'We have no choice,' says Mr Nhat.
 'We have to seek partnerships with
foreign companies, not only to use their
 capital resources but also to learn
the industry from them. We are just sta
rting. I hope we can learn from the
experience and mistakes of others.'
 ---
--------------------------------------------------
        HOTEL DEVELOPMENT
: PROPOSED NEW ROOMS
 -----------------------------------------------------

Destination                       By 2000
 ---------------------------------
--------------------
Ho Chi Minh City                   10,000
Hanoi        
                       6,771
Vung Tau                              728
Haiph
ong                               90
Danang                              2,4
78
Dalat                                 182
Phan Rang                      
       117
Hue                                   250
Nha Trang              
             1,328
Total                              21,944
 --------------
---------------------------------------
Source: BDO Hospitality Consulting
 
-----------------------------------------------------
</TEXT>
<XX>
Countries
:-
</XX>
<CN>VNZ  Vietnam, Asia.
</CN>
<XX>
Industries:-
</XX>
<IN>P7999 Amu
sement and Recreation, NEC.
    P9611 Administration of General Economic Pro
grams.
    P7011 Hotels and Motels.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comme
nt & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 40 <
/PAGE>
</DOC>

============= Transaction # 248 ==============================================
Transaction #:    248       Transaction Code:  22 (Record(s) Saved)        

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
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<DOC>
<DOCNO>FT944-4346</DOCNO>
<PROFILE>_AN-ELHD0AGVFT</PROFILE>
<DATE>9412
08
</DATE>
<HEADLINE> FT  08 DEC 94 / Survey of Vietnam (4): Big money yet t
o be seen - Lack of infrastructure is constraining tourism </HEADLINE>
<BYLI
NE>    By KIERAN COOKE </BYLINE>
<TEXT>
In the early 1970s Bui Xuan Nhat was
 a key figure in the Paris negotiations
aimed at ending the war in Vietnam a
nd putting a stop to US involvement in
the country. Twenty years on, Mr Nhat
, a former diplomat, now deputy
chairman of Vietnam's tourist authority, is 
trying to woo Americans back to
explore the beauties of his country and revi
sit old battlefields.
'We think the US is a very big market for our tourism 
industry,' says Mr
Nhat. 'Hundreds of thousands of American troops were here
. Many of them want
to come back and see where they fought.'
Already there a
re special tours for American war veterans, with visits
organised to battle 
sites such as Khe Sanh and along the Ho Chi Minh trail.
Vets can see some of
 the mountain of US weaponry left behind when Vietnamese
forces finally took
 control of Ho Chi Minh City in 1975. They can even buy
back some of their o
ld kit from souvenir shops at the city's war crimes
museum.
But the US touri
st assault on Vietnam has yet to take place. The French, in
the country long
 before the Americans, are back in large numbers. Vietnam
has become the lat
est vogue tourist spot for many other Europeans. Numbers
are rising fast: ac
cording to official statistics Vietnam had 250,000
tourists in 1990. This ro
se to more than 650,000 in 1993 and forecasts for
this year predict at least
 900,000 visitors.
'We aim to have more than three million tourists by the e
nd of the century,'
says Mr Nhat. 'Tourism will make a big contribution to o
ur foreign exchange
earnings. There are some problems in the industry but we
 are confident they
can be overcome.'
Some might feel Mr Nhat is being overl
y optimistic. For the moment, Vietnam
is an excellent destination for the mo
re adventurous type of traveller. But
the real tourist revenues come from bi
g tour packages, not from small groups
of intrepid explorers.
Vietnam's chro
nic lack of infrastructure - from paved roads to power and
drinkable water -
 is a serious constraint on any large scale development of
the tourism secto
r. Tourist facilities outside the main cities are virtually
non-existent.
Th
ere is already a serious shortage of hotel accommodation in both Ho Chi
Minh
 City and Hanoi. People are hungry for jobs. But the country lacks a
pool of
 trained hotel staff. Hotel operators have to build up their
businesses from
 scratch.
A standard room in Hanoi's leading hotel costs nearly Dollars 200 
per night.
Top class hotels in other parts of Asia offer both better rates a
nd service.
Officials say that Vietnam now has a total of 32,000 hotel rooms
, with only
half of them considered fit for foreign tourists. New hotels are
 being
built. A US group has plans for a Dollars 240m tourist complex on the
 coast
near Danang in central Vietnam. Foreign investors, led by Singaporean
s and
Malaysians, are queueing up to build hotels in Ho Chi Minh City and Ha
noi.
Progress on these projects is slow. More than 100 foreign-funded touris
t
projects involving investments of more than Dollars 1bn have been register
ed
with the authorities but few have progressed from the paperwork stage.
As
 in many sectors of Vietnam's economic planning, developers have found
that 
official central government policy is often at variance with the views
of po
litically powerful local Peoples Committees. Establishing land titles,
movin
g people from development areas plus settling compensation claims have
prove
d serious obstacles for tourism-related projects.
Mr Nhat is aware of the bu
reaucratic hold-ups in the system. But there is
also the danger that by allo
wing a haphazard, unregulated approach to
tourism, Vietnam might risk destro
ying the very things visitors want to see.
One of the attractions of Hanoi i
s its old style French colonial
architecture and its tree lined boulevards. 
Many of the old villas are
crumbling and in dire need of repair. But unregul
ated property development,
including a mushrooming of small, often ugly, hot
els with modern facades, is
already threatening to spoil the look of parts o
f Vietnam's capital.
Mr Nhat says that he does not want to see Vietnam devel
oping the same sort
of tourist industry as that of Thailand. Yet signs are a
lready emerging that
Ho Chi Minh City is reverting to its old ways with a re
cent proliferation of
massage parlours and risque bars.
Vietnam might not be
 able to keep the bulk of its tourist earnings within
the country. Every sec
tor of the economy lacks capital. Foreign tour
operators, having invested fu
nds in order to set up various facilities in
Vietnam, could insist that they
 retain a sizeable slice of the revenues.
'We have no choice,' says Mr Nhat.
 'We have to seek partnerships with
foreign companies, not only to use their
 capital resources but also to learn
the industry from them. We are just sta
rting. I hope we can learn from the
experience and mistakes of others.'
 ---
--------------------------------------------------
        HOTEL DEVELOPMENT
: PROPOSED NEW ROOMS
 -----------------------------------------------------

Destination                       By 2000
 ---------------------------------
--------------------
Ho Chi Minh City                   10,000
Hanoi        
                       6,771
Vung Tau                              728
Haiph
ong                               90
Danang                              2,4
78
Dalat                                 182
Phan Rang                      
       117
Hue                                   250
Nha Trang              
             1,328
Total                              21,944
 --------------
---------------------------------------
Source: BDO Hospitality Consulting
 
-----------------------------------------------------
</TEXT>
<XX>
Countries
:-
</XX>
<CN>VNZ  Vietnam, Asia.
</CN>
<XX>
Industries:-
</XX>
<IN>P7999 Amu
sement and Recreation, NEC.
    P9611 Administration of General Economic Pro
grams.
    P7011 Hotels and Motels.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comme
nt & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 40 <
/PAGE>
</DOC>

============= Transaction # 249 ==============================================
Transaction #:    249       Transaction Code:  39 (Full Doc Window --TREC) 

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
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Selec. Rec. #:     68

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<DOC>
<DOCNO>FT934-3779</DOCNO>
<PROFILE>_AN-DLGD5AGPFT</PROFILE>
<DATE>9312
07
</DATE>
<HEADLINE> FT  07 DEC 93 / Survey of Thailand (8): Not like the o
ld days - Tourism industry / facing a shift in fortunes / These are difficul
t times for many Bangkok hoteliers </HEADLINE>
<BYLINE>    By WILLIAM BARNES
 </BYLINE>
<TEXT>
The general manager of the venerable Oriental Hotel, Mr Ku
rt Wachtveitl,
sent his staff a private notice this summer warning them this
 was the worst
season of his 25 years at the hotel.
'Room rates are falling 
every week and the competition is getting fiercer
and fiercer,' he wrote.
Al
though the dapper Austrian's hotel is sometimes voted the best in the
world,
 he was forced to remind staff to treasure customers as never before
to prev
ent them sloping off to one of the Oriental's rivals.
'We simply cannot affo
rd an unhappy client. Once clients know that our
business is down, they will
 become more demanding, seeking discounts,
wanting more service, pampering a
nd better facilities.'
The Oriental, like all Bangkok hotels, has been hit b
y the global recession;
much sharper competition from regional rivals like M
alaysia, Indonesia and
China; a rapid increase in the number of hotel rooms 
and, critically, by the
fact that Thailand has lost some of its appeal as a 
tourist destination.
Thailand's luck this year - a dramatic surge in Asian t
ourist arrivals  -
hardly compensates for plans laid during the days of high
-spending
foreigners.
Mr Vinai Ruenjaruwatana, the head of Sunshine Tours an
d the chairman of the
Phuket chamber's tourism committee, said: 'Don't be fo
oled by all this
activity - that's only been achieved by cutting rates to th
e bone. We're
filling hotels with 'low quality' tourists who don't spend mon
ey and wreck
the rooms.'
This is a far cry from the late 1980s when - helped
 by a highly successful
'Visit Thailand Year' promotion in 1987 - hoteliers 
could give out rooms
like prizes. Mr Vichit na Ranong, owner-manger of the P
earl Village Resort
Hotel in Phuket and president of the Phuket Hotel Owners
' Association,
remembers that in those days 'agents were so desperate to fin
d accommodation
they said, 'just get me the rooms - we'll sort out the price
 later'.
Wonderful.'
The tourist industry in Thailand soared in the second h
alf of the 1980s when
Thailand - helped by a longish stretch of political st
ability and the 1987
promotion - suddenly became a favoured exotic holiday d
estination. There
were double digit increases in annual tourist arrivals fro
m 1986 to 1990,
with an almost 24 per cent jump in visitors in 1987 alone.
A
lthough a record 5.3m arrivals were recorded in 1990 the dramatic growth
was
 already starting to tail off before the traumatic double blow of the
Gulf W
ar and a military coup in 1991. Arrivals dropped by four per cent in
1991 an
d then rose a sluggish 0.97 per cent in 1992. Thailand's political
crisis re
ached a climax in May 1992 when troops gunned down pro-democracy
protesters 
on the streets of Bangkok.
A 16 per cent pick-up over the first seven months
 of this year prompts Mr
Bert van Walbeck, executive vice president of Bangk
ok tour operator Siam
Express, to say: 'Thailand could become for Asia what 
Spain became for
Europe in the 1960s and 1970s. In five or 10 years' time th
e office lady in
Shanghai will start taking holidays just as her equivalent 
in Stockholm did
20 or 30 years ago.'
Nearly 60 per cent of arrivals between
 January and July this year were from
east Asia, notably Taiwan and Korea. C
hinese tourists rose a remarkable 231
per cent to 176,085 - only 5.35 per ce
nt of the total. A pointer perhaps to
the future, but hardly a big boost to 
revenues this year.
With hindsight it was in the glory days of Thai tourism 
that the seeds of
the industry's current troubles were sown as eager entrepr
eneurs
over-developed Thai resorts, trying to turn Thailand into an amusemen
t
arcade and thereby destroying the very qualities that attract visitors.
Th
e fishing village of Pattaya on the east coast has in two decades been
turne
d into a huge brothel fronting onto a polluted sea - thanks partly to
the ma
chinations of a local mafia.
Phuket island's virgin beaches and turquoise se
as off southern Thailand's
west coast were the stuff of dreams - until a dec
ade-and-a-half of feverish
hotel building encouraged international passenger
 jets to land at regular
intervals at the newly expanded airport.
The expres
sion on the face of a local chemist who is also secretary-general
of the Phu
ket Environmental Protection Association, Mr Vinai Ruenjaruwatana,
would mak
e a good illustration for the wry T-shirt slogan 'Another
(expletive deleted
) Day in Paradise.'
'Phuket is skirting disaster. If I wasn't born here, I w
ould move,' he says.
Myriad bars, cafes and guest houses proliferated in the
 shadow of Thailand's
big hotels as every man and his dog tried to take mone
y from tourists.
When the merry-go-round stopped, Thailand found it had pric
ed itself out of
the market for many European, north American and Japanese t
ourists. Yet many
investors are blithely continuing to build as if the last 
two years were a
minor hiccup, prompting the suspicion that many new hotels 
must count as
'vanity investments' constructed to enhance the owner's presti
ge rather than
merely to make money.
In Bangkok, the number of hotel rooms w
ill grow by around 20 per cent in
1993 alone, helping to bring expected occu
pancy rates down from 53.22 per
cent in 1992 to an estimated 48.65 per cent 
in 1993, compared with 88 per
cent occupancy during the 1988 peak, according
 to Peregrine Brokerage.
Not every hotel owner is thinking of jumping from t
he panorama view deck:
tourists are increasingly avoiding Bangkok or Pattaya
 by flying directly
into such locations as the northern capital Chiang Mai a
nd Phuket as the
rest of Thailand is 'discovered.'
Phuket occupancy rates we
re 38-59 per cent in 1992 when the number of rooms
increased by 16.4 per cen
t, yet the degradation of Phuket, and other
upcountry destinations, remains 
well behind Bangkok or Pattaya. There was a
106 per cent jump in arrivals in
 1992 when 1.2m people visited the island
and stayed for, an unusually long 
average of 10.89 days.
 --------------------------------------------------
 
                TOURIST ARRIVALS
 ------------------------------------------
--------
Foreign visitors               1991          1992
 ----------------
----------------------------------
From all countries        5,086,900     5
,136,400
From Malaysia               808,400       729,500
From Japan       
           559,500       569,700
From Taiwan                 453,900       4
07,300
From Singapore              320,100       324,300
From Hong Kong     
         341,400       291,200
From Germany                257,000       275
,500
From the US                 248,400       274,400
From the UK          
       197,600       236,500
From Australia              202,600       207,5
00
From France                 172,900       193,100
From India             
     109,700       105,200
 ------------------------------------------------
--
Source: Thai Tourism Authority
 -----------------------------------------
---------
</TEXT>
<XX>
Countries:-
</XX>
<CN>THZ  Thailand, Asia.
</CN>
<XX>

Industries:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
    P9311 Finan
ce, Taxation, and Monetary Policy.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Commen
t & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page III <
/PAGE>
</DOC>

============= Transaction # 250 ==============================================
Transaction #:    250       Transaction Code:  15 (Terms Cleared)          

  Terminal ID:  57943       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
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