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============= Transaction # 3 ==============================================
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============= Transaction # 5 ==============================================
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<DOC>
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<PROFILE>_AN-EBHC6AE5FT</PROFILE>
<DATE>940
208
</DATE>
<HEADLINE> FT  08 FEB 94 / UK Company News: Glaxo asthma drug wi
ns US approval </HEADLINE>
<BYLINE>    By DANIEL GREEN </BYLINE>
<TEXT>
Glax
o has belatedly won US approval for one of its most important products
of th
e 1990s, the inhaled asthma treatment Serevent.
The US Food and Drug Adminis
tration had been expected to approve the drug in
December and Glaxo shares f
ell when this did not happen.
After Serevent's approval yesterday, the share
s rose 15p to end the day with
a net fall of 2p at 664p.
The drug is importa
nt to Glaxo because it is a successor to Ventolin, the
long standing big sel
ler in asthma treatment. Such respiratory treatments
are second in importanc
e only to ulcer drugs in Glaxo's therapeutic
portfolio, accounting for almos
t one quarter of total sales.
The older drug has now lost much of its patent
 protection and the company is
relying on Serevent to underpin its position 
in the market.
The drug was approved in Europe in 1991 and should eventually
 reach sales of
Pounds 350m a year, according to James Capel, the broker. In
 the last full
year, Serevent sold Pounds 73m while Ventolin sales were wort
h Pounds 484m.
The drug had a setback last month, however, when Italian gove
rnment
healthcare reforms favoured Ventolin by excluding Serevent from a lis
t of
drugs the government would pay for. Glaxo lodged an appeal against the

ruling.
</TEXT>
<XX>
Companies:-
</XX>
<CO>Glaxo Holdings.
</CO>
<XX>
Countr
ies:-
</XX>
<CN>USZ  United States of America.
</CN>
<XX>
Industries:-
</XX>

<IN>P2834 Pharmaceutical Preparations.
</IN>
<XX>
Types:-
</XX>
<TP>TECH  P
roducts & Product use.
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<PUB>The Financial Times </PUB>
<PAGE> London P
age 24 </PAGE>
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============= Transaction # 6 ==============================================
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============= Transaction # 7 ==============================================
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<TEXT>
Glax
o has belatedly won US approval for one of its most important products
of th
e 1990s, the inhaled asthma treatment Serevent.
The US Food and Drug Adminis
tration had been expected to approve the drug in
December and Glaxo shares f
ell when this did not happen.
After Serevent's approval yesterday, the share
s rose 15p to end the day with
a net fall of 2p at 664p.
The drug is importa
nt to Glaxo because it is a successor to Ventolin, the
long standing big sel
ler in asthma treatment. Such respiratory treatments
are second in importanc
e only to ulcer drugs in Glaxo's therapeutic
portfolio, accounting for almos
t one quarter of total sales.
The older drug has now lost much of its patent
 protection and the company is
relying on Serevent to underpin its position 
in the market.
The drug was approved in Europe in 1991 and should eventually
 reach sales of
Pounds 350m a year, according to James Capel, the broker. In
 the last full
year, Serevent sold Pounds 73m while Ventolin sales were wort
h Pounds 484m.
The drug had a setback last month, however, when Italian gove
rnment
healthcare reforms favoured Ventolin by excluding Serevent from a lis
t of
drugs the government would pay for. Glaxo lodged an appeal against the

ruling.
</TEXT>
<XX>
Companies:-
</XX>
<CO>Glaxo Holdings.
</CO>
<XX>
Countr
ies:-
</XX>
<CN>USZ  United States of America.
</CN>
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Industries:-
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Types:-
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<TP>TECH  P
roducts & Product use.
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<PAGE> London P
age 24 </PAGE>
</DOC>

============= Transaction # 8 ==============================================
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<HEADLINE> FT  08 FEB 94 / UK Company News: Glaxo asthma drug wi
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<BYLINE>    By DANIEL GREEN </BYLINE>
<TEXT>
Glax
o has belatedly won US approval for one of its most important products
of th
e 1990s, the inhaled asthma treatment Serevent.
The US Food and Drug Adminis
tration had been expected to approve the drug in
December and Glaxo shares f
ell when this did not happen.
After Serevent's approval yesterday, the share
s rose 15p to end the day with
a net fall of 2p at 664p.
The drug is importa
nt to Glaxo because it is a successor to Ventolin, the
long standing big sel
ler in asthma treatment. Such respiratory treatments
are second in importanc
e only to ulcer drugs in Glaxo's therapeutic
portfolio, accounting for almos
t one quarter of total sales.
The older drug has now lost much of its patent
 protection and the company is
relying on Serevent to underpin its position 
in the market.
The drug was approved in Europe in 1991 and should eventually
 reach sales of
Pounds 350m a year, according to James Capel, the broker. In
 the last full
year, Serevent sold Pounds 73m while Ventolin sales were wort
h Pounds 484m.
The drug had a setback last month, however, when Italian gove
rnment
healthcare reforms favoured Ventolin by excluding Serevent from a lis
t of
drugs the government would pay for. Glaxo lodged an appeal against the

ruling.
</TEXT>
<XX>
Companies:-
</XX>
<CO>Glaxo Holdings.
</CO>
<XX>
Countr
ies:-
</XX>
<CN>USZ  United States of America.
</CN>
<XX>
Industries:-
</XX>

<IN>P2834 Pharmaceutical Preparations.
</IN>
<XX>
Types:-
</XX>
<TP>TECH  P
roducts & Product use.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London P
age 24 </PAGE>
</DOC>

============= Transaction # 9 ==============================================
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============= Transaction # 10 ==============================================
Transaction #:     10       Transaction Code:  14 (Search Results Displayed)

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============= Transaction # 11 ==============================================
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============= Transaction # 12 ==============================================
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============= Transaction # 13 ==============================================
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<DOC>
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<PROFILE>_AN-EBHC6AE5FT</PROFILE>
<DATE>940
208
</DATE>
<HEADLINE> FT  08 FEB 94 / UK Company News: Glaxo asthma drug wi
ns US approval </HEADLINE>
<BYLINE>    By DANIEL GREEN </BYLINE>
<TEXT>
Glax
o has belatedly won US approval for one of its most important products
of th
e 1990s, the inhaled asthma treatment Serevent.
The US Food and Drug Adminis
tration had been expected to approve the drug in
December and Glaxo shares f
ell when this did not happen.
After Serevent's approval yesterday, the share
s rose 15p to end the day with
a net fall of 2p at 664p.
The drug is importa
nt to Glaxo because it is a successor to Ventolin, the
long standing big sel
ler in asthma treatment. Such respiratory treatments
are second in importanc
e only to ulcer drugs in Glaxo's therapeutic
portfolio, accounting for almos
t one quarter of total sales.
The older drug has now lost much of its patent
 protection and the company is
relying on Serevent to underpin its position 
in the market.
The drug was approved in Europe in 1991 and should eventually
 reach sales of
Pounds 350m a year, according to James Capel, the broker. In
 the last full
year, Serevent sold Pounds 73m while Ventolin sales were wort
h Pounds 484m.
The drug had a setback last month, however, when Italian gove
rnment
healthcare reforms favoured Ventolin by excluding Serevent from a lis
t of
drugs the government would pay for. Glaxo lodged an appeal against the

ruling.
</TEXT>
<XX>
Companies:-
</XX>
<CO>Glaxo Holdings.
</CO>
<XX>
Countr
ies:-
</XX>
<CN>USZ  United States of America.
</CN>
<XX>
Industries:-
</XX>

<IN>P2834 Pharmaceutical Preparations.
</IN>
<XX>
Types:-
</XX>
<TP>TECH  P
roducts & Product use.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London P
age 24 </PAGE>
</DOC>

============= Transaction # 14 ==============================================
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============= Transaction # 15 ==============================================
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============= Transaction # 16 ==============================================
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<DOC>
<DOCNO>FT943-11047</DOCNO>
<PROFILE>_AN-EHBDUABRFT</PROFILE>
<DATE>940
802
</DATE>
<HEADLINE> FT  02 AUG 94 / Tourists return to more peaceful Egyp
t </HEADLINE>
<BYLINE>    By MARK NICHOLSON </BYLINE>
<DATELINE>    CAIRO </
DATELINE>
<TEXT>
Three months free of Islamic militant attacks on tourist ta
rgets has
encouraged a recovery in Egypt's tourist industry, with Cairo hote
ls
enjoying their highest occupancy rates in more than two years.
Latest tou
rism ministry figures show a 4.5 per cent rise in visitors in May
against th
e same month last year, the first overall rise since militant
groups began a
ttacks on tourist buses, cruise boats and other tourist
targets in late 1992
. Hoteliers say the recovery has strengthened since
then.
The last attacks a
gainst tourist targets came in March, when a few trains
were raked with gunf
ire as they passed through Assiut, a heartland of
militant activity in south
ern Egypt. A German tourist died from injuries
after gunmen fired at a Nile 
cruiser passing by Assiut.
Since April the government has repeatedly claimed
 its crackdown has
succeeded in breaking the main militant groups, the Gamaa
 al-Islamiyya and
Jihad, and prevented them operating outside their traditio
nal strongholds in
Upper Egypt. Mr Hassan al-Alfie, interior minister, said 
last week: 'We have
managed to encircle them and put an end to the acts of v
iolence.'
Mr Tony Baldry, parliamentary under-secretary at the Foreign Offic
e, said
during a recent visit to Egypt that he had 'every impression this wa
s a
situation which has been contained, understood, and dealt with'.
The lul
l in violence has encouraged tourism in Cairo, where five-star hotels
report
 occupancy rates of between 85-90 per cent against an average of
little over
 50 per cent this time last year. 'There's been an
extraordinarily good impr
ovement,' said Mr Richard Bousfield, marketing
director at the Cairo Semiram
is Intercontinental.
The bulk of Cairo's summer visitors are Gulf Arabs. Hot
eliers and tour
operators in Europe say it remains too early to forecast whe
ther European,
American and other tourists will return in large numbers duri
ng the winter
season, which begins in October.
However, some hotels say prov
isional tour bookings for next season are
already twice what they were a yea
r ago.
'Bookings are looking good; they're up for August and early September
, and I
sense already that European tour operators are beginning to respond,
' said
Mr Armin Shrocker, manager of the Nile Hilton hotel.
Egypt attracted 
a record 3.2m tourists in 1991-92 before the militant
attacks, garnering har
d-currency earnings calculated by the government at
about Dollars 3bn (Pound
s 1.9bn). It says the anti-tourism violence,
designed by the Gamaa al-Islami
yya militant group to attack the government
by harming the economy, cost Dol
lars 900m in lost revenues last year,
hitting employment and investment in w
hat had been Egypt's fastest-growing
industry.
However, diplomats and other 
commentators are cautious about forecasting an
end to militant violence. Mor
eover, the Egyptian government faces a
considerable security test in early S
eptember, when Cairo will attract
around 20,000 participants, including prim
e ministers, to the United Nations
International Conference on Population an
d Development.
On Sunday the Gamaa al-Islamiyya broke a silence of more than
 two and a half
months by issuing a faxed statement declaring it intended to
 step up
violence in the Upper Egyptian town of Mallawi, 270km south of Cair
o, where
it claimed its members had ambushed and wounded two policemen.
</TE
XT>
<XX>
Countries:-
</XX>
<CN>EGZ  Egypt, Africa.
</CN>
<XX>
Industries:-
<
/XX>
<IN>P7999 Amusement and Recreation, NEC.
    P7011 Hotels and Motels.
 
   P9611 Administration of General Economic Programs.
</IN>
<XX>
Types:-
</X
X>
<TP>CMMT  Comment & Analysis.
    MKTS  Sales.
    STATS  Statistics.
</T
P>
<PUB>The Financial Times </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 21 ==============================================
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<DOCNO>FT943-11047</DOCNO>
<PROFILE>_AN-EHBDUABRFT</PROFILE>
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802
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t </HEADLINE>
<BYLINE>    By MARK NICHOLSON </BYLINE>
<DATELINE>    CAIRO </
DATELINE>
<TEXT>
Three months free of Islamic militant attacks on tourist ta
rgets has
encouraged a recovery in Egypt's tourist industry, with Cairo hote
ls
enjoying their highest occupancy rates in more than two years.
Latest tou
rism ministry figures show a 4.5 per cent rise in visitors in May
against th
e same month last year, the first overall rise since militant
groups began a
ttacks on tourist buses, cruise boats and other tourist
targets in late 1992
. Hoteliers say the recovery has strengthened since
then.
The last attacks a
gainst tourist targets came in March, when a few trains
were raked with gunf
ire as they passed through Assiut, a heartland of
militant activity in south
ern Egypt. A German tourist died from injuries
after gunmen fired at a Nile 
cruiser passing by Assiut.
Since April the government has repeatedly claimed
 its crackdown has
succeeded in breaking the main militant groups, the Gamaa
 al-Islamiyya and
Jihad, and prevented them operating outside their traditio
nal strongholds in
Upper Egypt. Mr Hassan al-Alfie, interior minister, said 
last week: 'We have
managed to encircle them and put an end to the acts of v
iolence.'
Mr Tony Baldry, parliamentary under-secretary at the Foreign Offic
e, said
during a recent visit to Egypt that he had 'every impression this wa
s a
situation which has been contained, understood, and dealt with'.
The lul
l in violence has encouraged tourism in Cairo, where five-star hotels
report
 occupancy rates of between 85-90 per cent against an average of
little over
 50 per cent this time last year. 'There's been an
extraordinarily good impr
ovement,' said Mr Richard Bousfield, marketing
director at the Cairo Semiram
is Intercontinental.
The bulk of Cairo's summer visitors are Gulf Arabs. Hot
eliers and tour
operators in Europe say it remains too early to forecast whe
ther European,
American and other tourists will return in large numbers duri
ng the winter
season, which begins in October.
However, some hotels say prov
isional tour bookings for next season are
already twice what they were a yea
r ago.
'Bookings are looking good; they're up for August and early September
, and I
sense already that European tour operators are beginning to respond,
' said
Mr Armin Shrocker, manager of the Nile Hilton hotel.
Egypt attracted 
a record 3.2m tourists in 1991-92 before the militant
attacks, garnering har
d-currency earnings calculated by the government at
about Dollars 3bn (Pound
s 1.9bn). It says the anti-tourism violence,
designed by the Gamaa al-Islami
yya militant group to attack the government
by harming the economy, cost Dol
lars 900m in lost revenues last year,
hitting employment and investment in w
hat had been Egypt's fastest-growing
industry.
However, diplomats and other 
commentators are cautious about forecasting an
end to militant violence. Mor
eover, the Egyptian government faces a
considerable security test in early S
eptember, when Cairo will attract
around 20,000 participants, including prim
e ministers, to the United Nations
International Conference on Population an
d Development.
On Sunday the Gamaa al-Islamiyya broke a silence of more than
 two and a half
months by issuing a faxed statement declaring it intended to
 step up
violence in the Upper Egyptian town of Mallawi, 270km south of Cair
o, where
it claimed its members had ambushed and wounded two policemen.
</TE
XT>
<XX>
Countries:-
</XX>
<CN>EGZ  Egypt, Africa.
</CN>
<XX>
Industries:-
<
/XX>
<IN>P7999 Amusement and Recreation, NEC.
    P7011 Hotels and Motels.
 
   P9611 Administration of General Economic Programs.
</IN>
<XX>
Types:-
</X
X>
<TP>CMMT  Comment & Analysis.
    MKTS  Sales.
    STATS  Statistics.
</T
P>
<PUB>The Financial Times </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 22 ==============================================
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<PROFILE>_AN-EHBDUABRFT</PROFILE>
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802
</DATE>
<HEADLINE> FT  02 AUG 94 / Tourists return to more peaceful Egyp
t </HEADLINE>
<BYLINE>    By MARK NICHOLSON </BYLINE>
<DATELINE>    CAIRO </
DATELINE>
<TEXT>
Three months free of Islamic militant attacks on tourist ta
rgets has
encouraged a recovery in Egypt's tourist industry, with Cairo hote
ls
enjoying their highest occupancy rates in more than two years.
Latest tou
rism ministry figures show a 4.5 per cent rise in visitors in May
against th
e same month last year, the first overall rise since militant
groups began a
ttacks on tourist buses, cruise boats and other tourist
targets in late 1992
. Hoteliers say the recovery has strengthened since
then.
The last attacks a
gainst tourist targets came in March, when a few trains
were raked with gunf
ire as they passed through Assiut, a heartland of
militant activity in south
ern Egypt. A German tourist died from injuries
after gunmen fired at a Nile 
cruiser passing by Assiut.
Since April the government has repeatedly claimed
 its crackdown has
succeeded in breaking the main militant groups, the Gamaa
 al-Islamiyya and
Jihad, and prevented them operating outside their traditio
nal strongholds in
Upper Egypt. Mr Hassan al-Alfie, interior minister, said 
last week: 'We have
managed to encircle them and put an end to the acts of v
iolence.'
Mr Tony Baldry, parliamentary under-secretary at the Foreign Offic
e, said
during a recent visit to Egypt that he had 'every impression this wa
s a
situation which has been contained, understood, and dealt with'.
The lul
l in violence has encouraged tourism in Cairo, where five-star hotels
report
 occupancy rates of between 85-90 per cent against an average of
little over
 50 per cent this time last year. 'There's been an
extraordinarily good impr
ovement,' said Mr Richard Bousfield, marketing
director at the Cairo Semiram
is Intercontinental.
The bulk of Cairo's summer visitors are Gulf Arabs. Hot
eliers and tour
operators in Europe say it remains too early to forecast whe
ther European,
American and other tourists will return in large numbers duri
ng the winter
season, which begins in October.
However, some hotels say prov
isional tour bookings for next season are
already twice what they were a yea
r ago.
'Bookings are looking good; they're up for August and early September
, and I
sense already that European tour operators are beginning to respond,
' said
Mr Armin Shrocker, manager of the Nile Hilton hotel.
Egypt attracted 
a record 3.2m tourists in 1991-92 before the militant
attacks, garnering har
d-currency earnings calculated by the government at
about Dollars 3bn (Pound
s 1.9bn). It says the anti-tourism violence,
designed by the Gamaa al-Islami
yya militant group to attack the government
by harming the economy, cost Dol
lars 900m in lost revenues last year,
hitting employment and investment in w
hat had been Egypt's fastest-growing
industry.
However, diplomats and other 
commentators are cautious about forecasting an
end to militant violence. Mor
eover, the Egyptian government faces a
considerable security test in early S
eptember, when Cairo will attract
around 20,000 participants, including prim
e ministers, to the United Nations
International Conference on Population an
d Development.
On Sunday the Gamaa al-Islamiyya broke a silence of more than
 two and a half
months by issuing a faxed statement declaring it intended to
 step up
violence in the Upper Egyptian town of Mallawi, 270km south of Cair
o, where
it claimed its members had ambushed and wounded two policemen.
</TE
XT>
<XX>
Countries:-
</XX>
<CN>EGZ  Egypt, Africa.
</CN>
<XX>
Industries:-
<
/XX>
<IN>P7999 Amusement and Recreation, NEC.
    P7011 Hotels and Motels.
 
   P9611 Administration of General Economic Programs.
</IN>
<XX>
Types:-
</X
X>
<TP>CMMT  Comment & Analysis.
    MKTS  Sales.
    STATS  Statistics.
</T
P>
<PUB>The Financial Times </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 23 ==============================================
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<DOCNO>FT943-11047</DOCNO>
<PROFILE>_AN-EHBDUABRFT</PROFILE>
<DATE>940
802
</DATE>
<HEADLINE> FT  02 AUG 94 / Tourists return to more peaceful Egyp
t </HEADLINE>
<BYLINE>    By MARK NICHOLSON </BYLINE>
<DATELINE>    CAIRO </
DATELINE>
<TEXT>
Three months free of Islamic militant attacks on tourist ta
rgets has
encouraged a recovery in Egypt's tourist industry, with Cairo hote
ls
enjoying their highest occupancy rates in more than two years.
Latest tou
rism ministry figures show a 4.5 per cent rise in visitors in May
against th
e same month last year, the first overall rise since militant
groups began a
ttacks on tourist buses, cruise boats and other tourist
targets in late 1992
. Hoteliers say the recovery has strengthened since
then.
The last attacks a
gainst tourist targets came in March, when a few trains
were raked with gunf
ire as they passed through Assiut, a heartland of
militant activity in south
ern Egypt. A German tourist died from injuries
after gunmen fired at a Nile 
cruiser passing by Assiut.
Since April the government has repeatedly claimed
 its crackdown has
succeeded in breaking the main militant groups, the Gamaa
 al-Islamiyya and
Jihad, and prevented them operating outside their traditio
nal strongholds in
Upper Egypt. Mr Hassan al-Alfie, interior minister, said 
last week: 'We have
managed to encircle them and put an end to the acts of v
iolence.'
Mr Tony Baldry, parliamentary under-secretary at the Foreign Offic
e, said
during a recent visit to Egypt that he had 'every impression this wa
s a
situation which has been contained, understood, and dealt with'.
The lul
l in violence has encouraged tourism in Cairo, where five-star hotels
report
 occupancy rates of between 85-90 per cent against an average of
little over
 50 per cent this time last year. 'There's been an
extraordinarily good impr
ovement,' said Mr Richard Bousfield, marketing
director at the Cairo Semiram
is Intercontinental.
The bulk of Cairo's summer visitors are Gulf Arabs. Hot
eliers and tour
operators in Europe say it remains too early to forecast whe
ther European,
American and other tourists will return in large numbers duri
ng the winter
season, which begins in October.
However, some hotels say prov
isional tour bookings for next season are
already twice what they were a yea
r ago.
'Bookings are looking good; they're up for August and early September
, and I
sense already that European tour operators are beginning to respond,
' said
Mr Armin Shrocker, manager of the Nile Hilton hotel.
Egypt attracted 
a record 3.2m tourists in 1991-92 before the militant
attacks, garnering har
d-currency earnings calculated by the government at
about Dollars 3bn (Pound
s 1.9bn). It says the anti-tourism violence,
designed by the Gamaa al-Islami
yya militant group to attack the government
by harming the economy, cost Dol
lars 900m in lost revenues last year,
hitting employment and investment in w
hat had been Egypt's fastest-growing
industry.
However, diplomats and other 
commentators are cautious about forecasting an
end to militant violence. Mor
eover, the Egyptian government faces a
considerable security test in early S
eptember, when Cairo will attract
around 20,000 participants, including prim
e ministers, to the United Nations
International Conference on Population an
d Development.
On Sunday the Gamaa al-Islamiyya broke a silence of more than
 two and a half
months by issuing a faxed statement declaring it intended to
 step up
violence in the Upper Egyptian town of Mallawi, 270km south of Cair
o, where
it claimed its members had ambushed and wounded two policemen.
</TE
XT>
<XX>
Countries:-
</XX>
<CN>EGZ  Egypt, Africa.
</CN>
<XX>
Industries:-
<
/XX>
<IN>P7999 Amusement and Recreation, NEC.
    P7011 Hotels and Motels.
 
   P9611 Administration of General Economic Programs.
</IN>
<XX>
Types:-
</X
X>
<TP>CMMT  Comment & Analysis.
    MKTS  Sales.
    STATS  Statistics.
</T
P>
<PUB>The Financial Times </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 24 ==============================================
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<DOC>
<DOCNO>FT932-16493</DOCNO>
<PROFILE>_AN-DDFCIABMFT</PROFILE>
<DATE>930
406
</DATE>
<HEADLINE> FT  06 APR 93 / Kenya's tourist industry suffers big 
fall in revenue </HEADLINE>
<BYLINE>    By REUTER </BYLINE>
<DATELINE>    NA
IROBI </DATELINE>
<TEXT>
TOURISM in Kenya dropped sharply last year, reducin
g hard currency revenues
from the industry to Dollars 295m from Dollars 400m
 (Pounds 195m from Pounds
266m) in 1991, a government official said yesterda
y, Reuter reports from
Nairobi.
Mr Philemon Mwaisaka, permanent secretary at
 the ministry of tourism, blamed
the sharp downturn in visits to safari park
s or Indian Ocean beaches on
reports in western countries, where most visito
rs come from, about attacks
on tourists, tribal violence and political unres
t.
'Imagined insecurity in Kenya had convinced European-based tourists that 
the
country was not safe,' he said.
The run-up to December's first multi-par
ty polls in 26 years was marred by
tribal violence.
This, coupled with bandi
t attacks on tourists, led to a fall in hotel
bookings of up to 60,000 bed-n
ights in the last five months of 1992, tourism
officials say.
Last year, som
e 700,000 tourists visited Kenya after a record 814,000 in
1991. But many, e
nticed by cheap bucket-shop deals, kept their wallets
closed while in the co
untry.
Mr Mwaisaka said the government was fighting back with a vigorous cam
paign
to revitalise the industry and woo visitors.
He said security in natio
nal parks would be stepped up, more roads would be
built and accommodation w
ould be improved.
'Protection of endangered species like elephants and rhino
s has received
priority,' he added.
'Poaching has been reduced to almost zer
o and an elaborate security network
put in place to ensure tourists' safety 
and increased comfort,' he added.
The government has also begun aerial surve
illance of game parks and issued
advice about which areas of Nairobi are con
sidered dangerous. Fears for the
safety of tourists have been fuelled by att
acks in game parks, particularly
the Masai Mara reserve.
Germany and the US 
have warned their nationals not to go to parks while
Britain and Australia h
ave cautioned against travel in parks when
unaccompanied by rangers.
Kenya, 
which rejected International Monetary Fund and World Bank-backed
reforms las
t month, badly needs tourists to help purchase essential imports
and service
 a Dollars 7.1bn foreign debt.
President Daniel arap Moi, angered over an IM
F refusal to reinstate critical
balance of payments support of around Dollar
s 40m a month, two weeks ago
called a halt to liberalisation policies and sa
id Kenya would go its own
way.
</TEXT>
<XX>
Countries:-
</XX>
<CN>KEZ  Kenya
, Africa.
</CN>
<XX>
Industries:-
</XX>
<IN>P9311 Finance, Taxation, and Mon
etary Policy.
    P9611 Administration of General Economic Programs.
</IN>
<
XX>
Types:-
</XX>
<TP>GOVT  Government News.
</TP>
<PUB>The Financial Times 
</PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 25 ==============================================
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<DOC>
<DOCNO>FT933-12228</DOCNO>
<PROFILE>_AN-DGZB2AARFT</PROFILE>
<DATE>930
726
</DATE>
<HEADLINE> FT  26 JUL 93 / Four hurt in Turk bombing </HEADLINE>

<BYLINE>    By Agencies </BYLINE>
<TEXT>
A BOMB injured three foreign touri
sts and a Turk at a tourist site in
central Istanbul, yesterday, agencies re
port.
It was not immediately clear whether the blast was connected with thre
ats by
the separatist Kurdistan Workers' Party (PKK) to attack Turkish touri
st
sites. But it coincided with other violence blamed on the PKK.
Armed PKK 
rebels meanwhile kidnapped four French tourists from a bus in
south-eastern 
Turkey.
In another incident, a mine planted on a railway exploded near the t
own of
Bingol, derailing a passenger train. Two soldiers protecting the trai
n were
killed and three other people on board were injured. Officials blamed
 the
PKK for the attack.
Police said the Istanbul bomb had been left in a li
tter basket under an
automated bank teller machine near the sixth-century Ha
ghia Sophia
Cathedral.
The tourists, two of them Italians, and the Turk were
 all slightly injured.
No damage was reported to the Haghia Sophia, one of t
he world's most
celebrated monuments of Byzantine architecture.
</TEXT>
<XX>

Countries:-
</XX>
<CN>TRZ  Turkey, Middle East.
</CN>
<XX>
Industries:-
</X
X>
<IN>P9229 Public Order and Safety, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS
  General News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 3 <
/PAGE>
</DOC>

============= Transaction # 26 ==============================================
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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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<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>

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zfind "(topic @ {hurt harm}) and (topic {tourist})"

============= Transaction # 38 ==============================================
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============= Transaction # 39 ==============================================
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<DOC>
<DOCNO>FT932-13562</DOCNO>
<PROFILE>_AN-DDVCCAHUFT</PROFILE>
<DATE>930
422
</DATE>
<HEADLINE> FT  22 APR 93 / Survey of Egypt (11): The wrong sort 
of shooting - Attacks on tourists have damaged tourism </HEADLINE>
<BYLINE> 
   By MARK NICHOLSON </BYLINE>
<TEXT>
This had been billed as a record break
ing year. The tourism ministry had
pencilled-in possible receipts of Dollars
 4bn from an expected 4m visitors
for the 1992/93 season, at least Dollars 1
bn better than the year earlier.
The private sector was more bullish. 'The w
hole industry was shooting for
Dollars 5bn this year,' says Mr Taher el-Shar
if, secretary general of the
Egyptian Businessmen's Association.
But, as any
 media watcher knows only too well for the tourism ministry's
liking, Egypt'
s tourism industry this year saw the wrong sort of shooting.
A bomb at the p
yramids, one outside the Egyptian museum, a tourist shot dead
in Upper Egypt
, two foreigners killed in a cafe bomb in downtown Cairo and
other attacks o
n tourist targets have devastated business.
Estimates vary of the damage don
e to the industry by the extremist Gama'a
al-Islamiyya's campaign - which ai
ms to undermine the government by
attacking vital tourist trade earnings.
Mr
 Fouad Sultan, the tourism minister, reckons trade to be a fifth down on
las
t year, when 3m visitors poured in Dollars 3.2bn worth of business. By
the e
nd of this year, he says, Egypt may have forfeited Dollars 700m in
potential
 revenues.
Others are gloomier, and suggest that business since Christmas ha
s been
running at half last year's levels.
Some Cairo hotels in March were b
arely more than a third full. Others had
slashed room rates in an increasing
ly savage price war. Transmed, a private
charter airline, says business is d
own by at least 50 per cent. Egyptair,
the national carrier, says trade is 4
0 per cent lower and has postponed the
purchase of three A340 Airbus jets ac
cordingly.
This is not the industry's first reverse in recent years. Tourist
s stayed
away in aeroplane loads after the 1985 Achille Lauro hijacking and 
riots by
Cairo security police in 1986.
No sooner had the industry recovered
 from those shocks than the Gulf war
stopped the industry dead - individual 
tourists could have the pyramids to
themselves at some points during the war
.
But this time visitors are being deterred not simply by general fears of t
he
region's instability or volatility, but by a direct campaign against tour
ist
targets.
'The problem is we just don't know when this will stop,' says M
r el-Sharif.
'Unlike the Gulf war, when we knew there would eventually be an
 end'.
In the meantime, the tourism ministry has been working on several fro
nts to
restore in potential holidaymakers' minds the image of Egypt as a saf
e and
sunny idyll of pyramids, pharaonic treasures and feluccas.
Mr Sultan h
as been tireless in attending the world's tourism fairs. He has
hired Burson
-Marsteller, the world's biggest public relations company, to
promote more p
ositive stories about Egypt in the world's press. Saatchi &
Saatchi has also
 been enlisted to promote Egypt's fairer face.
Security has been intensified
 anywhere tourists set foot. Policemen sit in
the entrances of popular resta
urants, bags are searched at all hotels.
Tourist police, troops and helicopt
ers have been deployed in Upper Egypt,
where the Gama'a began their campaign
 last summer by spraying gunfire at
tour buses from the cane fields next to 
the Nileside roads.
But finally, the restoration of Egypt's tourism industry
 will depend most on
the success of the violent crackdown by the security fo
rces to eradicate the
extremist threat. A considerable amount rides on such 
success.
Many economists in Egypt, not least in international agencies guidi
ng the
country's economic reforms, argue tourism to be its greatest hope. Be
fore
the present crisis the industry was Egypt's biggest hard currency earne
r,
reaping Dollars 1bn or so more in 1992 than either hydrocarbon exports or

Suez Canal toll receipts.
Since Mr Sultan became minister in the mid 1980s,
 the industry has grown by
an average 17.5 per cent a year. 'Tourism is the 
future,' says Mr John
Stewart of the International Finance Corporation. 'Oil
 reserves are finite,
the Suez has limited potential and remittances are lik
ely to stay flat.
Tourism is the only area where there can be real growth.'

Under Mr Sultan's tutelage the private sector has also been allowed rare
sco
pe to flourish in the tourism industry. Tourist asset sales will also
form m
uch of the advance guard in Egypt's tentative first steps towards
privatisin
g its lumbering private sector; hotels and Nile cruisers
comprising 8 of the
 first 20 assets or companies to be sold off this year.
'We are still barely
 tapping the potential,' says Mr Sultan, who believes
the industry could dra
w an annual 5m visitors within a year or two; 10m - as
many visitors as Gree
ce presently accepts - within a decade.
Indeed, the scale of present investm
ent in the industry is exceeded only by
that of Mr Sultan's ambitions for th
e sector. In a programme which
anticipates the annual number of tourist nigh
ts in Egypt to double to 45m
from the present 22m within five years, as much
 as EPounds 10bn has already
been committed by the private sector to add new
 hotel rooms and attendant
infrastructure.
This will add at least 25,000 roo
ms to the country's stock of 55,000 by the
end of 1994. Fourteen new hotels 
are being built at the Red Sea resort of
Hurgada alone.
And it is in resorts
 like Hurgada, rather than more traditional Egyptian
holiday haunts such as 
Luxor, Aswan or even Cairo itself, that the boom in
capacity growth is takin
g place. Reaching out to attract mass tourism,
adding sea, sand and sun appe
al to that of its iconic historical past, the
government has been handing de
velopers large tracts of coastline to develop
in the Mediterranean, the Red 
Sea and the Sinai.
Three mega-projects in these areas could alone see up to 
Dollars 3bn
invested in the next few years.
The Sahel Hashish Coast Developm
ent Company has won approval for a Dollars
750m scheme to build a tourist vi
llage on a stretch of Red Sea coast between
Safaga and Hurgada. A consortium
 of investors led by the Egyptian finance
Company, is sinking an initial Dol
lars 150m into developing from desert a
spit of land south of Hurgada into a
 full tourist complex, with hotels and a
golf course, in a project which som
e of its investors believe could finally
reach Dollars 1bn.
Dallah al-Baraka
 and a local Islamic bank are planning, in turn, a Dollars
1bn project to de
velop a strip of the Mediterranean coast between Alexandria
and Mersa Matruh
.
So far none of these projects has been hurt directly by the recent spate o
f
attacks or the climate of uncertainty they have provoked. Some smaller
inv
estors have pulled out of at least one of these projects, but they have
been
 replaced. 'Let's just say what's been happening is not helping,' says
one i
nvestor, with understatement.
And from the government's perspective it is vi
tal that nothing should derail
these investments. The reason, as Mr Sultan i
s abundantly aware, is simple:
jobs. 'This is the only industry in the count
ry which is capable of giving
the new generation in this country enough jobs
,' he says. The minister says
that already one in 15 jobs in Egypt depends d
irectly on tourism. After the
envisaged expansion, he says it will be one in
 10.
A great deal, therefore, will rest on the prospects of peaceful months

between now and the real start of the Egyptian tourism season in October and

November.
'We believe time will prove Egypt is as safe as it was,' says Mr 
Sultan. But
that lies outside his hands.
</TEXT>
<XX>
Countries:-
</XX>
<CN>
EGZ  Egypt, Africa.
</CN>
<XX>
Industries:-
</XX>
<IN>P7011 Hotels and Motel
s.
    P7999 Amusement and Recreation, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>CMM
T  Comment & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London P
age VI </PAGE>
</DOC>

============= Transaction # 40 ==============================================
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<DOC>
<DOCNO>FT943-11047</DOCNO>
<PROFILE>_AN-EHBDUABRFT</PROFILE>
<DATE>940
802
</DATE>
<HEADLINE> FT  02 AUG 94 / Tourists return to more peaceful Egyp
t </HEADLINE>
<BYLINE>    By MARK NICHOLSON </BYLINE>
<DATELINE>    CAIRO </
DATELINE>
<TEXT>
Three months free of Islamic militant attacks on tourist ta
rgets has
encouraged a recovery in Egypt's tourist industry, with Cairo hote
ls
enjoying their highest occupancy rates in more than two years.
Latest tou
rism ministry figures show a 4.5 per cent rise in visitors in May
against th
e same month last year, the first overall rise since militant
groups began a
ttacks on tourist buses, cruise boats and other tourist
targets in late 1992
. Hoteliers say the recovery has strengthened since
then.
The last attacks a
gainst tourist targets came in March, when a few trains
were raked with gunf
ire as they passed through Assiut, a heartland of
militant activity in south
ern Egypt. A German tourist died from injuries
after gunmen fired at a Nile 
cruiser passing by Assiut.
Since April the government has repeatedly claimed
 its crackdown has
succeeded in breaking the main militant groups, the Gamaa
 al-Islamiyya and
Jihad, and prevented them operating outside their traditio
nal strongholds in
Upper Egypt. Mr Hassan al-Alfie, interior minister, said 
last week: 'We have
managed to encircle them and put an end to the acts of v
iolence.'
Mr Tony Baldry, parliamentary under-secretary at the Foreign Offic
e, said
during a recent visit to Egypt that he had 'every impression this wa
s a
situation which has been contained, understood, and dealt with'.
The lul
l in violence has encouraged tourism in Cairo, where five-star hotels
report
 occupancy rates of between 85-90 per cent against an average of
little over
 50 per cent this time last year. 'There's been an
extraordinarily good impr
ovement,' said Mr Richard Bousfield, marketing
director at the Cairo Semiram
is Intercontinental.
The bulk of Cairo's summer visitors are Gulf Arabs. Hot
eliers and tour
operators in Europe say it remains too early to forecast whe
ther European,
American and other tourists will return in large numbers duri
ng the winter
season, which begins in October.
However, some hotels say prov
isional tour bookings for next season are
already twice what they were a yea
r ago.
'Bookings are looking good; they're up for August and early September
, and I
sense already that European tour operators are beginning to respond,
' said
Mr Armin Shrocker, manager of the Nile Hilton hotel.
Egypt attracted 
a record 3.2m tourists in 1991-92 before the militant
attacks, garnering har
d-currency earnings calculated by the government at
about Dollars 3bn (Pound
s 1.9bn). It says the anti-tourism violence,
designed by the Gamaa al-Islami
yya militant group to attack the government
by harming the economy, cost Dol
lars 900m in lost revenues last year,
hitting employment and investment in w
hat had been Egypt's fastest-growing
industry.
However, diplomats and other 
commentators are cautious about forecasting an
end to militant violence. Mor
eover, the Egyptian government faces a
considerable security test in early S
eptember, when Cairo will attract
around 20,000 participants, including prim
e ministers, to the United Nations
International Conference on Population an
d Development.
On Sunday the Gamaa al-Islamiyya broke a silence of more than
 two and a half
months by issuing a faxed statement declaring it intended to
 step up
violence in the Upper Egyptian town of Mallawi, 270km south of Cair
o, where
it claimed its members had ambushed and wounded two policemen.
</TE
XT>
<XX>
Countries:-
</XX>
<CN>EGZ  Egypt, Africa.
</CN>
<XX>
Industries:-
<
/XX>
<IN>P7999 Amusement and Recreation, NEC.
    P7011 Hotels and Motels.
 
   P9611 Administration of General Economic Programs.
</IN>
<XX>
Types:-
</X
X>
<TP>CMMT  Comment & Analysis.
    MKTS  Sales.
    STATS  Statistics.
</T
P>
<PUB>The Financial Times </PUB>
<PAGE> London Page 6 </PAGE>
</DOC>

============= Transaction # 41 ==============================================
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<DOC>
<DOCNO>FT934-12157</DOCNO>
<PROFILE>_AN-DJ1C4ABAFT</PROFILE>
<DATE>931
028
</DATE>
<HEADLINE> FT  28 OCT 93 / Tourism hit by shootings in Cairo </H
EADLINE>
<BYLINE>    By MARK NICHOLSON </BYLINE>
<DATELINE>    CAIRO </DATEL
INE>
<TEXT>
WHATEVER the motives of the lone gunman who shot dead three fore
igners as
they dined late on Tuesday in the Cairo Semiramis Hotel, those in 
Egypt's
demoralised tourist trade are resigned to the fact that they may not
 matter
a jot.
Whether the 28-year-old man arrested over the shooting was an
 Islamic
fundamentalist or mentally disturbed, the effect is the same - to o
ffer
further evidence that Egypt is not a safe place for foreign visitors.
M
r Andrew Quinlan, the shaken manager of the Semiramis, scarcely needed to
te
ll reporters yesterday morning that he thought the attack would hurt
already
 weak bookings. In the lobby, one Greek tour operator was already
pulling hi
s clients out of the hotel, and out of Egypt. 'We've already
postponed two t
rips because of violence,' he said. 'This is enough.'
There is no hard evide
nce that the accused man was part of an 18-month
campaign waged by Islamic e
xtremists to undermine the government by
attacking targets in the previously
 flourishing tourist industry. Some
witnesses claim he called out Islamic sl
ogans as he fired on the two tables
of foreign diners, leaving another three
 men seriously injured. The slain
men, two Americans and a Frenchman, were l
awyers attending a conference.
Interior ministry officials said the gunman w
as simply mentally disturbed.
But there is little doubt that for whatever mo
tive, he had singled out
foreigners in the restaurant, where staff said ther
e was the usual mix of
tourists and locals, and that the attack is the grave
st against visitors to
Egypt in recent years. There is also no doubt that it
 has dealt a
potentially catastrophic blow to the tourist trade, already ree
ling from the
effects of previous attacks.
Tourist nights for the first eigh
t months of the year are a third down on
last year. Revenue figures from tou
rism - officially calculated by
multiplying tourist nights by an estimated a
verage spend of Dollars 125 per
visitor - are barely likely to clear Dollars
 2bn this year after a record
Dollars 3bn in 1991-92. This in itself is vita
l, given that tourism vies
with Suez canal receipts, oil exports and remitta
nces as the country's main
foreign exchange earner.
But more worrying is the
 longer-term effect of the industry's decline. Of
those hard currency earner
s, tourism is the only one that western economists
considered capable of sig
nificant growth in the next few years. From the
mid-1980s to the present, th
e sector had grown at an average 17.5 per cent a
year - far outstripping the
 economy's average growth of about 6 per cent
over the period.
More importan
t to an economy with at least 20 per cent unemployment and
which needs to ad
d a minimum of 400,000 to 500,000 jobs a year to keep pace
with labour force
 growth, tourism has long been the country's biggest job
creator. The touris
m ministry and western economists reckon about one in 15
jobs across the eco
nomy depends directly on tourism.
The job factor is particularly significant
 in Upper Egypt, both the
country's poorest region and that most severely wr
acked by Islamic extremist
violence - two facts most observers in Egypt cons
ider directly related. And
it is there, rather than in the newly developed r
esorts of Sinai and the Red
Sea, that the tourist slump is deepest. The Nile
 cruise business, Upper
Egypt's mainstay, is, according to one economist, 'i
n outright collapse'.
Hoteliers and cruise operators have already slashed pr
ices, a trend many
worry may lead to an irrevocable drop in standards and fa
cilities. But more
important is the effect of the slump on future investment
 and private sector
confidence.
The government makes no hard figures availab
le on what proportion of total
investment, local and foreign, has been dedic
ated to tourism recently, but
it is commonly accepted to be the most flouris
hing sector outside the
capital-intensive oil industry.
'Tourism has very ef
fectively mobilised savings in the private sector - it
is a real symbol of t
he private sector here. That might now be under
threat,' says one economist.

Several big tourism investment schemes are under way, particularly in the
R
ed Sea and Sinai where there have been no attacks and where tourist
arrivals
 remain healthy. Last week the International Finance Corporation,
the World 
Bank's private sector arm, approved financing for two local
companies in a D
ollars 100m project to develop Ras Abu Soma, now a bare spit
of the Red Sea 
coast, into a multi-hotel golfing and diving resort.
But investment agencies
 in Cairo say all the schemes were entered into
before the present troubles,
 and fresh projects have dried up. 'What we have
noticed is a very sharp dro
p in the number of feasibility studies being
presented - almost to zero,' sa
ys one agency director.
In the short term there is little the industry can d
o but tighten security a
notch further, by installing X-ray checks on bags, 
and hope. The Semiramis
was widely regarded as Cairo's safest hotel - it is 
where US secretaries of
state usually stay.
In the meantime, the editors of 
the Egyptian Gazette can only rue yesterday
morning's banner headline. 'Egyp
t safest place on earth,' it read,
paraphrasing remarks made in Washington o
n Tuesday by President Hosni
Mubarak.
By and large Mr Mubarak is correct. Th
e streets of Egypt's towns are far
safer than those of Washington or even pa
rts of London. Attacks against
tourists are, as the government never tires o
f repeating, far fewer and less
lethal than in Turkey or Miami. But try tell
ing that to the tour operators.
</TEXT>
<XX>
Countries:-
</XX>
<CN>EGZ  Egyp
t, Africa.
</CN>
<XX>
Industries:-
</XX>
<IN>P9229 Public Order and Safety, 
NEC.
    P9311 Finance, Taxation, and Monetary Policy.
    P9611 Administrat
ion of General Economic Programs.
    P7011 Hotels and Motels.
</IN>
<XX>
Ty
pes:-
</XX>
<TP>ECON  Employment & unemployment.
    ECON  Economic Indicato
rs.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 4 </PAGE>
</DOC
>

============= Transaction # 42 ==============================================
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<DOC>
<DOCNO>FT942-1249</DOCNO>
<PROFILE>_AN-EFXC1AHEFT</PROFILE>
<DATE>9406
24
</DATE>
<HEADLINE> FT  24 JUN 94 / Survey of Norway (14): On the fast tra
ck from Lillehammer - The Winter Olympics may have opened a door for upmarke
t tourism </HEADLINE>
<BYLINE>    By KAREN FOSSLI </BYLINE>
<TEXT>
Norway ha
s launched an ambitious campaign to encourage tourism, in the hope
of capita
lising on the success of the Winter Olympics in Lillehammer earlier
this yea
r. The target is the the big spender.
For 16 days in February, spectacular i
mages of the country's unspoilt nature
appeared on television screens throug
hout the world. During the games no
fewer than 10,000 articles appeared in U
S newspapers alone.
No wonder superlatives abound to describe the country's 
natural beauty, from
the midnight sun in summer to the craggy snow-capped pe
aks in winter; and it
helped that, during the Olympics, the sun shone every 
day, melting heart of
almost anyone tuned in to Lillehammer.
Norway believes
 the country is just the place for people who want to get
back to nature and
 experience the good, clean, simple life. It certainly is
not a destination 
for the finicky tourist, who expects the level of service
and luxury found t
hroughout continental Europe; and it is definitely not for
those with a meag
re budget.
In 1993, more than 3m foreign tourists spent an estimated NKr16bn
 in Norway,
or some NKr1bn less than the revenue generated by fish exports.

If Norwegian tourists are taken into account, the spending spree reached
NKr
55bn, according to the tourist board (Nortra). It calculates that, if
growth
 in tourism runs at an annual 6 to 7 per cent, by the year 2000
foreign tour
ists will contribute NKr23bn annually to the economy.
This year Nortra expec
ts income from tourism to expand by 10 per cent, and
forecasts that no fewer
 than 4.5m visitors will head for Norway, more than
half of them this summer
, and up to 80 per cent of them purely for leisure.
With tourism one of the 
country's fastest growing industries, many
Norwegians fear that an influx of
 holidaymakers could harm the environment.
But the foreign ministry's carefu
lly targeted promotional campaign should
calm anxiety that droves of shallow
-pocketed travellers will descend on
Norway's rugged mountains, craggy cliff
s and myriad fjords.
According to a senior ministry official, the typical to
urist visiting Norway
is seeking a 'special' holiday filled with culture, na
ture and culinary
delights (the country's rich seafood tradition offers ever
ything from arctic
cod to salmon, as well as a wide range of whale dishes).

This tourist is at least 45 years old, travels without children and does not

mind packing wellingtons and rain gear. He or she would not normally
compla
in about prices, and is likely to be a mid-level executive and a
culture ent
husiast.
'This is exactly the group we are targeting,' explained the ministr
y
spokesman. 'We have no plans to expand our marketing efforts to attract
yo
uth, the masses or others outside this group, because our product could be
d
estroyed.
'We are not looking for the big numbers, but the big spenders. It'
s more
interesting for us to attract, say, a German executive who returns to
 Norway
year after year.'
According to a survey undertaken ahead of the game
s, the impact of the
Lillehammer Olympics alone - the so-called 'OL effect' 
- could increase
tourism by an estimated 5 per cent this year.
The foreign m
inistry began to devise its strategy for capitalising interest
in Norway lon
g before the games ended, and it aims this year to undertake
substantial med
ia campaigns in the US, Germany, the UK and other European
countries.
Last a
utumn, together with the Norwegian Soccer Association, it embarked on
a prom
otional campaign that is culminating during the current World Cup,
where a w
ide cross-section of foreigners has gathered. Plans include a
video-taped No
rwegian current affairs programme for television, business
seminars, cultura
l events and presentations of Norwegian food.
There is also a three-year age
nda of high-profile cultural events in the US
and Spain next year, and in Ja
pan in 1997. These include a Norwegian film
festival, in co-operation with t
he Museum of Modern Art in New York, and
concerts by the Norwegian Chamber O
rchestra and Trondheim Soloists.
Norway not only sees an opportunity to boos
t tourism by exploiting the image
conveyed to the world during the games, it
 also believes that business and
industry can benefit from the global exposu
re of the country's involvement
in other recent important events - for examp
le, its role as mediator in the
historic peace agreement between Israel and 
the Palestine Liberation
Organisation.
'There is a link between extensive me
dia coverage and the export of
Norwegian goods and services,' said Mr Jan Eg
eland, state secretary of the
foreign ministry, who was directly involved in
 the peace negotiations.
In the three years before the Winter Olympics, tour
ism rose by 30 per cent,
helped by a surge in interest from Britain, Germany
, Holland, and the US.
Yet, for all the efforts in marketing Norway abroad, 
there is work to be
done at home to remove awkward idiosyncrasies that can f
rustrate and
disappoint visitors. Nortra admits that there is some way to go
 in improving
the service-mindedness of Norwegians, to encourage them not to
 close shops
during holidays and weekends and other peak traffic periods, al
though
progress has been made in recent years.
Nortra disputes claims that N
orwegian prices are on the whole far higher
than elsewhere in Europe, partic
ularly when it comes to accommodation. It
urges visitors, for example, to ne
gotiate prices for hotel rooms,
particularly in Oslo where capacity is norma
lly abundant.
But tourists may be shocked to find that the cost of a half-li
tre of beer in
a pub can be more than NKr40 (Pounds 3.70) and that for a mod
est dinner for
two, including a bottle of table wine, they will have to pay 
at least
NKr700. A large pizza alone can cost up to NKr250.
Prices like thes
e make extended stays for families almost prohibitive; and
many activities, 
such as concerts, cruises and mountain hiking, are geared
more towards adult
s than children.
One of the fastest growing segments of the domestic tourist
 industry is that
of the recreational vehicle traveller. But Norway acknowle
dges it is little
equipped to accommodate such vehicles; few RV parks exist,
 and there are few
chemical and waste receptacles for dumping effluent gener
ated by RVs.
Nortra forecasts that between 60,000 and 100,000 RVs will motor
 around the
country this year, representing a 20 per cent increase over 1993
. There are
about 970 inspected and classified camping sites, some of which 
offer
hook-up facilities for electricity, showers and toilets.
Camping fees 
range between Dollars 10 to Dollars 22 a night, while cabins
can be rented f
or Dollars 29 to Dollars 90 a night.
Not unexpectedly, Norwegian travel broc
hures make little mention of RV
facilities, but focus primarily on sightseei
ng by rail, boat, bus or car.
But if you drive, expect to pay the highest pe
trol prices in Europe, running
at about NKr7.50 a litre.
</TEXT>
<XX>
Countr
ies:-
</XX>
<CN>NOZ  Norway, West Europe.
</CN>
<XX>
Industries:-
</XX>
<IN>
P7999 Amusement and Recreation, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comm
ent & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page VI 
</PAGE>
</DOC>

============= Transaction # 43 ==============================================
Transaction #:     43       Transaction Code:  22 (Record(s) Saved)        

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<DOC>
<DOCNO>FT922-2397</DOCNO>
<PROFILE>_AN-CFQA6ADGFT</PROFILE>
<DATE>9206
17
</DATE>
<HEADLINE> FT  17 JUN 92 / Survey of Madeira (4): A balmy resort 
off the beaten track - Tourism is the islands' leading source of revenue </H
EADLINE>
<BYLINE>    By ALISON MAITLAND </BYLINE>
<TEXT>
MADEIRA'S natural b
eauty, temperate climate and lack of crime are its
greatest attractions, acc
ording to tourists questioned in a recent survey
carried out for the regiona
l government.
What spoiled things, they said, was the heavy traffic, noise a
nd pollution
in the capital, Funchal, where the holiday hotels are concentra
ted.
At Reid's, the palatial 101-year-old hotel that caters to the top end o
f the
tourist market, a related concern is frequently expressed. 'What guest
s
don't like is all this building work,' says Mr Peter Spath, the hotel's
Ge
rman-born general manager. 'They have seen other examples like the
Canaries 
and Torremolinos, and they're scared it will become the same here.'
These tw
o complaints epitomise the difficulty facing Madeira's tourist
industry: how
 to achieve further growth without harming the island's natural
assets and a
ntagonising the very segment of the market on which tourism
depends most hea
vily.
The majority of tourists are middle-aged or elderly people from Britai
n,
Germany and Scandinavia, who escape the north European winter for the
tra
nquillity and balmy temperatures of an Atlantic island lying 400 miles
west 
of Morocco. A good proportion come back again and again.
Madeira has attract
ed tourists for 200 years, building its reputation in the
last century as a 
health resort for Europe's wealthy and titled. At first
they came on ocean l
iners, later on flying boats, until the opening of the
airport at Funchal in
 1964 put the island on the modern tourist map.
It has so far avoided the ma
ss market - there are, for example, only 15,000
hotel beds compared with nea
rly 200,000 in the Canaries, and they are
concentrated in four-and five-star
 hotels. But tourism is profitable and the
industry is expanding fast. It ha
s become Madeira's leading source of
revenue, contributing 23 per cent of GD
P and employing about a fifth of the
workforce directly and indirectly.
Toda
y, Madeira depends on tour operators for nearly 70 per cent of its
market. T
he change is not to every islander's taste. 'We're even getting
tourists who
 bring their own food,' sniffs an elderly expatriate.
In the past few years,
 many summer visitors have begun to arrive from
Portugal, Spain, Italy and F
rance. The low season is confined to May and
June, and international confere
nces are being encouraged to take up the
slack.
About 470,000 visitors are e
xpected this year, the same number as last year,
when Madeira benefited from
 an extra influx of tourists scared away from the
Mediterranean by the Gulf 
war.
The success of the industry inevitably suggests further growth. Demand 
is
reflected in the 75 per cent occupancy rate in Madeira's hotels. Ageing
p
opulations in Europe and America mean more, better-off customers with time
o
n their hands, and Madeira has a particularly young population available to

serve them.
But the government is aware of the dangers of rapid development.
 'The
quality of the environment will be important,' says Mr Miguel de Sousa
,
vice-president in charge of the economy. 'People will seek quality. If
Mad
eira is successful, it will be on that basis.'
The plan is therefore to limi
t the increase in accommodation so that the
island has a maximum of 22,000 b
eds by the end of the century and to set
guidelines for new developments. Mr
 Carlos Alberto Silva, director of
tourism, admits that Madeira has not been
 strict enough with developers in
the past. 'Now we're making new investment
s more sensitive, using roofs with
tiles to keep the local character,' he sa
ys.
High-rise concrete hotels are still springing up in and around Funchal, 
but
there are examples of more harmonious building, such as the 38 apartment
s
and six town houses that comprise the luxurious Reid's Gardens development
,
with red-tiled roofs and architecture which blends with the famous hotel o
n
the promontory above.
The government is encouraging new, smaller hotels an
d guesthouses in the
west of the island. A highway between Funchal and Ribei
ra Brava, 40 km to
the west, is due to be finished at the end of 1994. It wi
ll cut the journey
from half an hour to 10 minutes and bring the countryside
 to the city, says
Mr Silva. It will also ease the congestion in Funchal, wh
ere half the
island's 250,000 people live.
Another important development wil
l be the 1,000-metre extension of the
airport runway, due to be completed in
 1996 or 1997. This will allow
intercontinental flights, enabling the island
 to promote itself in the US
and Japan, and in South America, where many Mad
eiran emigrants live.
Few young families come to Madeira because it has no s
andy beaches. But
there is a 9km beach on Porto Santo, an hour and half's bo
at ride or 15
minutes' flight away. The number of beds there has doubled to 
800 in the
past three years, and further expansion is planned, up to a maxim
um of 2,500
beds, in the hope that tour operators will begin to sell package
 holidays
there - the island, although otherwise undeveloped, has a 3,000 me
tre
runway.
The lack of beaches on Madeira has encouraged the industry to de
velop other
outdoor activities and niche markets. Deep sea fishing and divin
g is
becoming popular. Two new golf courses, of 18 and 27 holes, are under
c
onstruction outside Funchal. Up to 30 different walks are available along
th
e irrigation channels, or levadas, that criss-cross the mountains. For the
b
usiness market, a 1,500-capacity conference centre is due to open in two
yea
rs' time outside Funchal.
So far there has been little foreign investment, b
ut some of the big
international hotel chains are beginning to show an inter
est.
All this bodes well for the industry, though not in every case for the

environment. Some islanders and long-standing visitors fear that Madeira's
b
eauty will be ruined by tourism.
Others are more optimistic, believing that 
the island's cliff-lined coasts
and rugged, inhospitable interior will prove
 their own best defence against
the excesses of man.
</TEXT>
<PUB>The Financ
ial Times </PUB>
<PAGE> London Page 34 </PAGE>
</DOC>

============= Transaction # 44 ==============================================
Transaction #:     44       Transaction Code:  22 (Record(s) Saved)        

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<DOC>
<DOCNO>FT931-1884</DOCNO>
<PROFILE>_AN-DCXAWAFKFT</PROFILE>
<DATE>9303
23
</DATE>
<HEADLINE> FT  23 MAR 93 / Egypt focuses firepower on militants: 
Islamic extremists have forced Cairo to write off tourist revenues </HEADLIN
E>
<BYLINE>    By MARK NICHOLSON </BYLINE>
<TEXT>
EGYPT'S government seems t
o have decided to write off the rest of this
year's tourist season.
A couple
 of weeks ago, the government did its best to play down the recent
attacks b
y Islamic militants on tourists. It blamed the media for
exaggerating their 
gravity and hired Saatchi & Saatchi to burnish the
country's image abroad.
G
overnment spokesmen said violence by the Gama'a al-Islamiyya, the extremist

group aiming to install an Islamic state in Egypt, had peaked and that 90
pe
r cent of its members had been captured in security sweeps late last year
an
d early this.
The government seemed determined to rescue what it could of it
s tourist
revenues, which according to Mr Fouad Sultan, tourism minister, ar
e 20 per
cent down on last year's record levels, when the industry earned Eg
ypt a
precious Dollars 3.2bn (Pounds 2.25bn). Non-government estimates sugge
st
revenues might in fact be down by half or more.
Now, however, the governm
ent appears to have decided that it is more
important to take the fight to t
he militants than keep Egypt comfortingly
out of the news.
Since the start o
f this month, which saw the most violent clashes between
police and militant
s in a decade, a series of raids on Gama'a hideouts and,
in one case, a full
 mosque in Aswan has left more than 40 people dead,
including at least 10 po
licemen.
The government denies it is operating a shoot-to-kill policy agains
t the
Islamic militants, but is taking massive firepower with it in raids on

suspected hideouts. More than 1,000 police, some armed with rocket-propelle
d
grenades, for instance, took part in a nine-hour shoot-out in Asyut this
w
eek in which 10 militants were killed.
The decision to step up the campaign 
against the Gama'a appears to reflect
two discomforting factors for the gove
rnment.
The first is that its claim to have rooted out the militants has pro
ven
unfounded. Police and troops continue to be shot and killed in sporadic

incidents in both Upper Egypt - the Gama'a's chief stronghold - and Cairo.
E
ven in the face of tougher policing and tighter security at all main
tourist
 spots, the Gama'a still managed to blow up tourist buses last week
outside 
the Egyptian museum, a prime tourist attraction. Yesterday it vowed
to aveng
e the Asyut killings with more attacks in Cairo.
The second factor is that t
he Gama'a's aim of hurting the economy, as a
means of destabilising the gove
rnment, has been disconcertingly successful.
Not only is the tourism industr
y, the country's fastest growing and
potentially most lucrative, likely to l
ose about Dollars 700m this year, but
some investors in Egypt's ambitious to
urism development projects are
reported to be getting cold feet.
Businessmen
 have also been increasingly skittish since the Gama'a said they
might direc
t attacks at foreign investments in the country. Earlier this
week the US em
bassy called in members of the American business community to
reassure them 
that there was no reason to panic. But it is a sign of the
concern among bus
inessmen that most say they unreservedly back the use of
considerable violen
ce against the extremists. 'The government must be very,
very brutal indeed,
' says one.
There is a wide divergence of views among businessmen, diplomats
 and other
observers as to the real gravity of the militants' threat. But fe
w doubt
that the considerable might of Egypt's security forces can contain i
t - even
if it not at once. 'The next three months will be very difficult fo
r the
government to control the situation,' says one leading businessman. 'B
ut for
my money I'd prefer it this way, to have it out in the open. Let's ge
t on
with it and get it finished.'
Few, however, believe that force alone wi
ll eradicate the threat from
militant Islamic groups.
In fact, the governmen
t has employed more weapons against the Islamic
militants than just guns, an
d broadened its attack to include the officially
banned Moslem Brotherhood, 
which for 60 years has represented Egypt's main
Islamic political grouping a
nd commands significant support.
Parliament has passed a law aimed at making
 it more difficult for the
Brotherhood to dominate the elections to professi
onal syndicates, most of
which they control. The government is trying to bri
ng all the country's
mosques under state control and supply the texts for th
e Friday sermon.
The government is also planning to improve services in some
 of the country's
worst slums and increase investment in the poorest parts o
f Upper Egypt,
where poverty is believed to offer the Gama'a fertile ground 
for recruitment
among Egypt's thousands of disillusioned, young unemployed.

But there are growing calls in Egypt for more radical action. 'The
governmen
t should have an integrated policy to change the society
religiously, econom
ically and socially,' says Mr Said Ashmawy, chief justice
of the supreme cou
rt for state security, who believes that without radical
changes to liberali
se its administration, de-Islamicise the state media and
reform the country'
s education system, 'terrorism unfortunately will last
for many years'.
That
 would be profoundly bad news for the Egyptian government, which faces
polit
ical hurdles enough in pushing through tough economic reforms under
joint IM
F and World Bank programmes.
Equally, the recent violence gives the governme
nt a political card to play
with the IMF when it opens negotiations on a sec
ond agreement with the Fund
in the next few weeks.
When President Hosni Muba
rak meets President Clinton in Washington early
next month he will almost ce
rtainly underline the terrorist threat when the
administration brings up the
 subject of US aid, of which Egypt is the second
biggest recipient after Isr
ael.
</TEXT>
<XX>
Countries:-
</XX>
<CN>EGZ  Egypt, Africa.
</CN>
<XX>
Indus
tries:-
</XX>
<IN>P9611 Administration of General Economic Programs.
    P92
29 Public Order and Safety, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>GOVT  Governme
nt News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 6 </PAGE>

</DOC>

============= Transaction # 45 ==============================================
Transaction #:     45       Transaction Code:  22 (Record(s) Saved)        

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<DOC>
<DOCNO>FT933-12232</DOCNO>
<PROFILE>_AN-DGZB2AANFT</PROFILE>
<DATE>930
726
</DATE>
<HEADLINE> FT  26 JUL 93 / Turkish tourist site hit by blast </H
EADLINE>
<BYLINE>    By REUTER </BYLINE>
<DATELINE>    ISTANBUL </DATELINE>

<TEXT>
A BOMB exploded yes-terday at a tourist site in central Istanbul, inj
uring
an Italian tourist and three Turks, Reuter reports from Istanbul.
The 
Anatolian news agency quoted police as saying that the bomb had been
left in
 a litter basket under an automated bank teller machine near the
sixth-centu
ry Haghia Sophia Cathedral.
Separatist rebels of the Kurdistan Workers' Part
y (PKK) meanwhile kidnapped
four French tourists in south-eastern Turkey yes
terday.
However, it was not immediately clear whether the bomb attack was co
nnected
with threats by the outlawed secessionist party to attack Turkish to
urist
sites.
Police said that the Italian tourist at the bombing site was sl
ightly
injured. The three Turks were also slightly hurt.
The bombing is not 
reported to have caused any damage to the Haghia Sophia,
which is one of the
 world's most celebrated monuments of Byzantine
architecture.
</TEXT>
<XX>
C
ountries:-
</XX>
<CN>TRZ  Turkey, Middle East.
</CN>
<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 3 </P
AGE>
</DOC>

============= Transaction # 46 ==============================================
Transaction #:     46       Transaction Code:  22 (Record(s) Saved)        

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<DOC>
<DOCNO>FT943-4834</DOCNO>
<PROFILE>_AN-EIGDVACNFT</PROFILE>
<DATE>9409
07
</DATE>
<HEADLINE> FT  07 SEP 94 / Survey of Enterprise in Wales (3): Fro
m slagheaps to showpieces - Tourism </HEADLINE>
<BYLINE>    By RICHARD EVANS
 </BYLINE>
<TEXT>
To suggest a holiday in industrial South Wales would have 
seemed an unkind
joke a decade ago, despite the nearby attractions of the Br
econ Beacons and
the Pembrokeshire and Gower coasts. Nowadays, a drive up th
e former mining
valleys shows how much the character of the area has altered
 in a few years.
Preconceptions of valleys scarred by slagheaps, abandoned s
teelworks and an
air of hopelessness are soon dispelled. Over Pounds 136m ha
s been spent on
greening the countryside and developing tourist attractions,
 and beautiful
hills and parkland now cover most of the ugly coaltip scars. 
There are
forest walks, heritage parks and industrial and craft museums to a
ttract the
visitor.
The valleys of industrial south Wales are joining the gl
ories of the
coastline, the mountains of the north and the green solitude of
 mid-Wales to
embrace the tourist.
Tourism has always been an important part
 of the Welsh economy, but until
recently it was relatively low key, fragmen
ted and under-capitalised. It
consisted mostly of traditional family summer 
holidays in Llandudno and Rhyl
in the north or Tenby and Porthcawl in the so
uth, plus hikers and others
attracted to the national parks of Snowdonia, th
e Brecon Beacons and the
Pembrokeshire coast.
Two factors have changed attit
udes dramatically, however, and led to a much
more coherent, structured stud
y of the industry and how it should be
developed.
The first has been the ste
ady decline of traditional industries such as
coalmining and steel in south 
Wales, agriculture in rural mid and north
Wales, and more recently, defence 
industries and air bases in west Wales.
With a need to create jobs, the prin
cipality had to exploit its tourist
assets: a beautiful countryside, histori
c castles, churches and Roman and
Celtic antiquities, plus a distinctive lan
guage and culture.
The second trigger for reform and development is the chan
ging holiday habits
of the British. As people began to opt for the guarantee
d sunshine of Spain
and Greece, Wales found itself too dependent on the trad
itional family
summer holiday. Hence, it had to offer fresh attractions.
In 
its first development plan launched over five years ago, the Wales
Tourist B
oard put up Pounds 23m of pump-priming capital, which stimulated
investment 
of Pounds 171m. That helped create 3,500 full-time equivalent
jobs. Tourism 
is now an increasingly significant industry, employing 95,000
or 9 per cent 
of the workforce, and earning Pounds 1.3bn for the Welsh
economy. Some 9m pe
ople visit Wales a year.
The intention, revealed earlier this year in a stud
y called Tourism 2000, is
to create 10,000 more jobs directly or indirectly,
 turning tourism into a
Pounds 2bn a year industry by the turn of the centur
y.
Mr Paul Loveluck, WTB's chief executive, says: 'We will target our effort
s
at certain overseas markets and at increasing the range of attractions for

those seeking short breaks or second holidays.' Development programmes are

planned for coastal resort regeneration in Tenby, Porthcawl and Llandudno;
i
n the historic town of Caernarfon; for country holidays; customer care; and

for golf, walking and cycling holidays.
A prime requirement, particularly in
 the coastal areas most vulnerable to
changing holiday patterns, is to attra
ct visitors more evenly throughout the
year. There are indica tions this is 
beginning to happen. In general, the
'shoulder' months of May-June and Septe
mber-October have seen a slow but
steady growth from second holidays and sho
rt breaks. In recent years, there
has been a decline in visitors in the peak
 holiday months, together with a
trend towards later booking and discounting
.
However, this year's fine weather and the economic upturn have brought an

increase in hotel occupancy figures over the very poor 1993 season. For
exam
ple, Mr George Pearsall, proprietor of the Plas Morfa hotel on the coast
bet
ween Aberystwyth and Cardigan, has seen a rise of 25 per cent in
occupancy r
ates so far this year.
Another major requirement is to attract visitors who 
spend more money in the
principality. This is being achieved by targeting ov
erseas visitors,
developing areas of tourism such as golf and yachting, and 
by improving
hotel accommodation and car parking facilities. There are relat
ively few top
class hotels in Wales, but the standard of accommodation has b
een improved
greatly by the introduction of a quality grading system.
Wales 
has fared relatively badly in attracting foreign visitors, with under
4 per 
cent of the UK total compared with 9.5 per cent for Scotland, and
efforts ar
e being made to improve this. Two years ago the WTB was allowed to
market it
self overseas separately from the British Tourist Authority,
something Scotl
and has done for a decade.
The key target market is the US, and a network of
 1,500 travel agents has
been built up in east and west coast cities to prom
ote Wales as part of a UK
tour or as a destination in its own right. Over 30
0 US travel agents have
been brought to Wales for training visits and they r
eceive regular updates
on new attractions and facilities. Seminars on touris
m in Wales are being
held throughout the US next month.
Other markets being 
researched are Australia, Canada, Germany, the
Netherlands, France, Ireland 
and Japan. (There appeared to be a big increase
in Dutch, German and French 
car numberplates in the byways of rural
mid-Wales this summer.)
Over the nex
t three years the WTB plans to double its overseas marketing
budget from Pou
nds 750,000 to Pounds 1.5m. Mr Loveluck expects overseas
visitors to increas
e by 6 per cent compared with a 2.5 per cent rise in UK
tourists.
It is acce
pted that tourism development must not be allowed to harm the
environment or
 the heritage that draws visitors to Wales. But even this can
be controversi
al territory. Plans to clear and green some of the remaining
slagheaps aroun
d Ebbw Vale are now being criticised for destroying the
country's industrial
 heritage.
</TEXT>
<XX>
Countries:-
</XX>
<CN>GBZ  United Kingdom, EC.
</CN>

<XX>
Industries:-
</XX>
<IN>P7999 Amusement and Recreation, NEC.
    P9611 
Administration of General Economic Programs.
</IN>
<XX>
Types:-
</XX>
<TP>CM
MT  Comment & Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London 
Page 14 </PAGE>
</DOC>

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<DOC>
<DOCNO>FT933-12228</DOCNO>
<PROFILE>_AN-DGZB2AARFT</PROFILE>
<DATE>930
726
</DATE>
<HEADLINE> FT  26 JUL 93 / Four hurt in Turk bombing </HEADLINE>

<BYLINE>    By Agencies </BYLINE>
<TEXT>
A BOMB injured three foreign touri
sts and a Turk at a tourist site in
central Istanbul, yesterday, agencies re
port.
It was not immediately clear whether the blast was connected with thre
ats by
the separatist Kurdistan Workers' Party (PKK) to attack Turkish touri
st
sites. But it coincided with other violence blamed on the PKK.
Armed PKK 
rebels meanwhile kidnapped four French tourists from a bus in
south-eastern 
Turkey.
In another incident, a mine planted on a railway exploded near the t
own of
Bingol, derailing a passenger train. Two soldiers protecting the trai
n were
killed and three other people on board were injured. Officials blamed
 the
PKK for the attack.
Police said the Istanbul bomb had been left in a li
tter basket under an
automated bank teller machine near the sixth-century Ha
ghia Sophia
Cathedral.
The tourists, two of them Italians, and the Turk were
 all slightly injured.
No damage was reported to the Haghia Sophia, one of t
he world's most
celebrated monuments of Byzantine architecture.
</TEXT>
<XX>

Countries:-
</XX>
<CN>TRZ  Turkey, Middle East.
</CN>
<XX>
Industries:-
</X
X>
<IN>P9229 Public Order and Safety, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>NEWS
  General News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 3 <
/PAGE>
</DOC>

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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 # 49 ==============================================
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<DOC>
<DOCNO>FT911-2050</DOCNO>
<PROFILE>_AN-BEBBRAAWFT</PROFILE>
<DATE>9105
02
</DATE>
<HEADLINE> FT  02 MAY 91 / Environment warning to tourism industr
y </HEADLINE>
<BYLINE>    By DAVID CHURCHILL, Leisure Industries Corresponde
nt </BYLINE>
<TEXT>
THE TOURISM industry was warned yesterday that it must t
ackle the problem of
'tourist blight' on the environment if it was to surviv
e and prosper.
Mr Michael Howard, employment secretary, said: 'The glitterin
g prospects
that the tourism industry has will be tarnished unless it takes 
its
responsibilities to the environment seriously.'
He was speaking in Londo
n yesterday after the publication of a working
party's report on tourism and
 the environment. The party, drawn from all
sides of the industry, urged gre
ater contribution to schemes to help protect
the environment from excessive 
numbers of tourists and developments.
Mr Howard said that the English Touris
t Board was conducting pilot studies
to find the best way of coping with lar
ge numbers of tourists.
The studies will focus initially on Windsor, the Cum
brian uplands, and the
emerging tourism area of Castlefield near Manchester.

Mr Howard said tourism contributed Pounds 24bn to the economy and that
near
ly 1.5m people worked in the sector. However, the influx of tourists to
Brit
ain - nearly 18m last year - was harming the environment.
The report identif
ied problems such as overcrowding in towns including York
and Brighton.
It a
dded that wash from pleasure boats on the Norfolk Broads was seen to be
erod
ing river banks.
Consumers are suspicious that manufacturers are making envi
ronmental claims
to push up prices, says a survey published yesterday by the
 Mintel research
group.
The survey, of more than 1,300 adults, found that al
most six out of every 10
supported 'green' products but were not prepared to
 pay more than a 5 per
cent premium for such goods.
Mintel's survey suggests
 that customers of the Sainsbury, Tesco and Gateway
supermarket chains were 
most interested in 'green' products.
The Green Consumer 1991, Mintel, 18-19 
Long Lane, London. EC1. Pounds 750.
</TEXT>
<PUB>The Financial Times </PUB>

<PAGE> London Page 7 </PAGE>
</DOC>

============= Transaction # 50 ==============================================
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<DOC>
<DOCNO>FT934-5958</DOCNO>
<PROFILE>_AN-DKZCOAGYFT</PROFILE>
<DATE>9311
26
</DATE>
<HEADLINE> FT  26 NOV 93 / Survey of Gloucestershire (9): Council
s unite to welcome visitors - Tourism / One of the county's main industries 
</HEADLINE>
<BYLINE>    By ROLAND ADBURGHAM </BYLINE>
<TEXT>
It is as evocat
ive a litany as any in England: Sheepscombe, Coln St Aldwyns,
Windrush and B
irdlip. The names of Cotswold villages conjure up the image of
limestone cot
tages, drystone walls, sparkling streams and wooded valleys, an
image which 
helps to bring 11m visitors a year to the county.
In consequence, tourism ha
s become one of the four leading industries in
Gloucestershire with spending
 by visitors in 1992 put at Pounds 212m. Over
17,000 people are employed by 
the industry and, on the calculation that each
job supports one half of anot
her elsewhere, it is reckoned that it sustains
one in 10 of all jobs in the 
county.
During the recession, as elsewhere in Britain, tourism has suffered,
 and
there have been job losses, but fewer than in other important sectors o
f the
local economy. In 1992, visitor numbers to attractions were down by ab
out 2
per cent on 1991. This year has seen no real recovery, although overse
as
visitors, encouraged by the devaluation of sterling, have helped to some

extent.
About one in five visitors come from abroad, but they account for ov
er a
third of all tourist spending, partly because so many of the other visi
tors
 -9.5m of the 11m total - are on day trips.
Although the Cotswolds are 
almost synonymous with Gloucestershire - nearly
all their 800 square miles l
ie within its boundaries - they are only one
reason why people want to visit
 the county. 'The great thing with
Gloucestershire is that the county itself
 is a draw, rather than any one
component within it,' says Mr Colin Potts, p
rincipal tourism officer of
Gloucestershire Tourism, an innovative marketing
 and development partnership
set up seven years ago by the county council an
d six district councils.
The partnership acts a co-ordinator of these counci
ls' individual programmes
and as a link with the Heart of England Tourist Bo
ard. For example,
Gloucestershire Tourism promotes directly in the US a guid
e for travel
agents with hotel prices quoted in dollars. (The US is the main
 country of
origin among overseas visitors, followed by the Netherlands and 
Germany.)
The county benefits by being able to offer what Mr Potts describes
 as
'quintessentially English countryside' within reach of Heathrow, Gatwick
 and
Birmingham airports. 'First timers to Britain will usually go to London

first,' he says. 'But for those who have been to London before, we are a
ve
ry good first stop - after a flight arriving in the early morning, one can
b
e in a lovely country-house hotel in perfect English countryside by early
af
ternoon.'
Despite the appeal of the Cotswolds, the county is keen to divert 
visitors
away from the obvious, and sometimes overcrowded, honeypots. In fac
t, the
most popular single attraction is not in the Cotswolds but Gloucester

cathedral, where visitors in 1992 were estimated at 450,000.
Gloucester, wh
ile lacking the regency splendours and quality shops of
Cheltenham (and it c
an boast only one restaurant in the latest Good Food
Guide, compared with Ch
eltenham's four) also has its historic docks. The
restoration of these has b
een the single most important tourist development
in the county in the past 
10 years.
The docks, connecting the river Severn with the Gloucester and Sha
rpness
canal, no longer have any commercial shipping. But the 15 handsome Vi
ctorian
warehouses now include shops, the National Waterways and Regiments o
f
Gloucestershire museums and the Robert Opie collection of advertising and

packaging. An antiques centre in one warehouse had nearly 400,000 visitors
i
n 1992.
English Heritage is restoring another of the city's antiques, the 13
th
century Blackfriars Dominican friary, which is expected to become a big
t
ourist attraction. The city has improved its appeal for visitors and
residen
ts alike by pedestrianising part of its centre. Mr David Scott,
director of 
planning and development services, says: 'I think there is a
sense of optimi
sm in the city that we've got tremendous assets; we're making
the best of th
ose assets, and we're going to go on improving them.'
Elsewhere in Glouceste
rshire are such inspired gardens as Hidcote Manor and
Owlpen Manor. There ar
e the Stroud valleys, the Westonbirt arboretum,
Tewkesbury Abbey, the Wildfo
wl and Wetlands Trust at Slimbridge, the roman
town of Cirencester and Chelt
enham itself, with its art gallery, Pittville
Pump Room and festivals of lit
erature and music.
On the other side of the Severn is the Forest of Dean, wh
ich the walker John
Hillaby described as 'perhaps the most beautiful assembl
y of trees in
Britain.' In the south is the Cotswolds water park, flooded gr
avel workings
which are claimed to have a greater water area than the Norfol
k Broads.
We took the Romantic Road, an ingenious route through quiet Cotswo
ld lanes
devised by Cheltenham Tourism. Despite finding that, even in Octobe
r, three
quality hotels along the way were fully booked, on the road itself 
we saw
more pheasants than cars. (At the Country Elephant restaurant, at Pai
nswick,
it was hare rather than pheasant on the menu.)
Gloucestershire will 
want to keep it that way. Mr Potts says: 'Our greatest
asset is the natural 
environment, and our challenge is to encourage
sustainable tourism to mainta
in that environment. We want to encourage
visitors in the countryside to hel
p sustain farms and village shops, but in
such a way that they don't harm th
e environment.'
He points out that the contraction of some other industries 
will put even
more emphasis on tourism, but that it is vital that the county
 does not
become over-reliant upon it, as have some seaside areas. Glouceste
rshire
Tourism is now devising a strategy for the next five years, and is
en
couraging such activities as walking and cycling and the use of local
servic
es.
The challenge, Mr Potts says, is to have a good tourism policy under the

threat of funding cuts, with no grants available to encourage tourist
devel
opment, and to counter what he calls the government's 'woefully
inadequate' 
funding of tourism in England, compared with the much more
generous funding 
for Wales and Scotland.
Overnight visitors themselves might themselves requi
re generous funding. A
couple staying, for example, in a four-poster bedroom
 with jacuzzi bath at
the Swan Hotel at Bibury could pay Pounds 176 for one 
night's bed and
breakfast. But Mr Potts says this type of hotel has weathere
d the recession
better than some middle-ranking ones. This may prove that Gl
oucestershire
must continue to trade on quality rather than mere numbers.
</
TEXT>
<XX>
Countries:-
</XX>
<CN>GBZ  United Kingdom, EC.
</CN>
<XX>
Industr
ies:-
</XX>
<IN>P9611 Administration of General Economic Programs.
    P7999
 Amusement and Recreation, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment &
 Analysis.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page IV </PAG
E>
</DOC>

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============= Transaction # 55 ==============================================
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============= Transaction # 56 ==============================================
Transaction #:     56       Transaction Code:  19 (Record Selected)        

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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 # 57 ==============================================
Transaction #:     57       Transaction Code:  22 (Record(s) Saved)        

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Selec. Rec. #:      2

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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 # 58 ==============================================
Transaction #:     58       Transaction Code:   6 (Direct Rank Search)     

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zfind "(topic @ {hurricane})"

============= Transaction # 59 ==============================================
Transaction #:     59       Transaction Code:  14 (Search Results Displayed)

  Terminal ID:     64       Z39.50 Server ID:  19 (TREC)                   
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============= Transaction # 60 ==============================================
Transaction #:     60       Transaction Code:  19 (Record Selected)        

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<DOC>
<DOCNO>FT923-5267</DOCNO>
<PROFILE>_AN-CIDBKACDFT</PROFILE>
<DATE>9209
02
</DATE>
<HEADLINE> FT  02 SEP 92 / Hurricane insurers expect record claim
s </HEADLINE>
<BYLINE>    By NIKKI TAIT </BYLINE>
<DATELINE>    NEW YORK </D
ATELINE>
<TEXT>
US INSURERS expect to pay out an estimated Dollars 7.3bn (Po
unds 3.7bn) in
Florida as a result of Hurricane Andrew - by far the costlies
t disaster the
industry has ever faced.
The figure is the first official tal
ly of the damage resulting from the
hurricane, which ripped through southern
 Florida last week. In the battered
region it is estimated that 275,000 peop
le still have no electricity and at
least 150,000 are either homeless or are
 living amid ruins.
President George Bush yesterday made his second visit to
 the region since
the hurricane hit. He pledged the government would see thr
ough the clean-up
'until the job is done'.
Although there had already been s
ome preliminary guesses at the level of
insurance claims, yesterday's figure
 comes from the Property Claims Services
division of the American Insurance 
Services Group, the property-casualty
insurers' trade association. It follow
s an extensive survey of the area by
the big insurance companies.
Mr Gary Ke
rney, director of catastrophe services at the PCS, said the
industry was exp
ecting about 685,000 claims in Florida alone. It is reckoned
the bulk of the
 damage - over Dollars 6bn in insured claims - is in Dade
County, a rural re
gion to the south of Miami.
However, the final cost of Hurricane Andrew will
 be higher still.
Yesterday's estimate does not include any projection for c
laims in
Louisiana, which was also affected by the storm, although less seve
rely than
Florida. An estimate of the insured losses in this second state wi
ll be
released later this week.
But on the Florida losses alone, Hurricane A
ndrew becomes the most costly
insured catastrophe in the US. Hurricane Hugo,
 which hit the east coast in
September 1989, cost the insurance industry abo
ut Dollars 4.2bn. The Oakland
fire disaster, in California last year, cost D
ollars 1.2bn.
By contrast, insurance claims resulting from the Los Angeles r
iots earlier
this year - the most expensive civil disturbance in the US - to
talled just
Dollars 775m.
Hurricane Andrew leaves the US property-casualty i
nsurers facing their
worst-ever year for catastrophe losses. The LA riots an
d a series of
tornadoes, wind and hailstorms in states such as Kansas, Oklah
oma and Iowa
had already produced insured losses of Dollars 3.9bn. With Flor
ida's
Hurricane Andrew losses added in, the total rises to Dollars 11.2bn.
T
his easily exceeds the record Dollars 7.6bn of catastrophe losses seen in
19
89, when the industry paid out on both Hurricane Hugo and the Loma Prieta
ea
rthquake in California.
Wall Street, however, has reacted calmly to the reco
rd losses expected, and
insurers' shares - although lower initially - have b
een firming recently.
The property-casualty industry is thought to have adeq
uate reserves to cover
the disaster.
</TEXT>
<PUB>The Financial Times </PUB>

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

============= Transaction # 61 ==============================================
Transaction #:     61       Transaction Code:  14 (Search Results Displayed)

  Terminal ID:     64       Z39.50 Server ID:  19 (TREC)                   
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============= Transaction # 62 ==============================================
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<DOCNO>FT923-6592</DOCNO>
<PROFILE>_AN-CHZBXAFGFT</PROFILE>
<DATE>9208
24
</DATE>
<HEADLINE> FT  24 AUG 92 / World News In Brief: Hurricane hits Ba
hamas </HEADLINE>
<TEXT>
Hurricane Andrew tore across the Bahamas with 150mp
h winds. Four people were
reported killed. About a million south Florida res
idents were ordered to
leave their homes as the storm roared on towards Miam
i. 'We're looking at a
very, very bad storm and it's coming straight at us',
 said one US official.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> Intern
ational Page 1 </PAGE>
</DOC>

============= Transaction # 63 ==============================================
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<PROFILE>_AN-CHZBXAFGFT</PROFILE>
<DATE>9208
24
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<HEADLINE> FT  24 AUG 92 / World News In Brief: Hurricane hits Ba
hamas </HEADLINE>
<TEXT>
Hurricane Andrew tore across the Bahamas with 150mp
h winds. Four people were
reported killed. About a million south Florida res
idents were ordered to
leave their homes as the storm roared on towards Miam
i. 'We're looking at a
very, very bad storm and it's coming straight at us',
 said one US official.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> Intern
ational Page 1 </PAGE>
</DOC>

============= Transaction # 64 ==============================================
Transaction #:     64       Transaction Code:  38 (Record Deselected)      

  Terminal ID:     64       Z39.50 Server ID:  19 (TREC)                   
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<DATE>9208
24
</DATE>
<HEADLINE> FT  24 AUG 92 / World News In Brief: Hurricane hits Ba
hamas </HEADLINE>
<TEXT>
Hurricane Andrew tore across the Bahamas with 150mp
h winds. Four people were
reported killed. About a million south Florida res
idents were ordered to
leave their homes as the storm roared on towards Miam
i. 'We're looking at a
very, very bad storm and it's coming straight at us',
 said one US official.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> Intern
ational Page 1 </PAGE>
</DOC>

============= Transaction # 65 ==============================================
Transaction #:     65       Transaction Code:   8 (Mixed Bool./Dir. Rank Search)

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============= Transaction # 66 ==============================================
Transaction #:     66       Transaction Code:  37 (General (non-Tcl) Error)

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============= Transaction # 67 ==============================================
Transaction #:     67       Transaction Code:   8 (Mixed Bool./Dir. Rank Search)

  Terminal ID:     64       Z39.50 Server ID:  19 (TREC)                   
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zfind "(topic @ {damage}) not (topic {hurricane})"

============= Transaction # 68 ==============================================
Transaction #:     68       Transaction Code:  37 (General (non-Tcl) Error)

  Terminal ID:     64       Z39.50 Server ID:  19 (TREC)                   
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============= Transaction # 69 ==============================================
Transaction #:     69       Transaction Code:   8 (Mixed Bool./Dir. Rank Search)

  Terminal ID:     64       Z39.50 Server ID:  19 (TREC)                   
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zfind "(topic @ {damage}) not (topic {hurricane andrew})"

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

  Terminal ID:     64       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:   8 (Mixed Bool./Dir. Rank Search)

  Terminal ID:     64       Z39.50 Server ID:  19 (TREC)                   
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zfind "(topic @ {hurricane damage}) not (topic {andrew})"

============= Transaction # 72 ==============================================
Transaction #:     72       Transaction Code:  14 (Search Results Displayed)

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============= Transaction # 73 ==============================================
Transaction #:     73       Transaction Code:  14 (Search Results Displayed)

  Terminal ID:     64       Z39.50 Server ID:  19 (TREC)                   
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============= Transaction # 74 ==============================================
Transaction #:     74       Transaction Code:   6 (Direct Rank Search)     

  Terminal ID:     64       Z39.50 Server ID:  19 (TREC)                   
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zfind "(topic @ {typhoon})"

============= Transaction # 75 ==============================================
Transaction #:     75       Transaction Code:  14 (Search Results Displayed)

  Terminal ID:     64       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
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============= Transaction # 76 ==============================================
Transaction #:     76       Transaction Code:  19 (Record Selected)        

  Terminal ID:     64       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
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<DOC>
<DOCNO>FT944-17187</DOCNO>
<PROFILE>_AN-EJJD1ACJFT</PROFILE>
<DATE>941
010
</DATE>
<HEADLINE> FT  10 OCT 94 / Business Travel (Update): Typhoon hit
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>
Countries:-
</XX>
<CN>TWZ  Taiwan, Asia.
</CN>
<XX>
Ind
ustries:-
</XX>
<IN>P9511 Air, Water, and Solid Waste Management.
</IN>
<XX>

Types:-
</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Financial Times </PUB>

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

============= Transaction # 77 ==============================================
Transaction #:     77       Transaction Code:   6 (Direct Rank Search)     

  Terminal ID:     64       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
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Usr Interface:   Prob          Time Cmd Sent: Thu Aug 19 12:21:30 1999

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Selec. Rec. #:      0

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zfind "(topic @ {typhoon damage})"

============= Transaction # 78 ==============================================
Transaction #:     78       Transaction Code:  14 (Search Results Displayed)

  Terminal ID:     64       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
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============= Transaction # 79 ==============================================
Transaction #:     79       Transaction Code:  19 (Record Selected)        

  Terminal ID:     64       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
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<DOC>
<DOCNO>FT944-12299</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 # 80 ==============================================
Transaction #:     80       Transaction Code:  14 (Search Results Displayed)

  Terminal ID:     64       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
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============= Transaction # 81 ==============================================
Transaction #:     81       Transaction Code:  19 (Record Selected)        

  Terminal ID:     64       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 # 82 ==============================================
Transaction #:     82       Transaction Code:  22 (Record(s) Saved)        

  Terminal ID:     64       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>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 # 83 ==============================================
Transaction #:     83       Transaction Code:  22 (Record(s) Saved)        

  Terminal ID:     64       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>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 # 84 ==============================================
Transaction #:     84       Transaction Code:  14 (Search Results Displayed)

  Terminal ID:     64       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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============= Transaction # 85 ==============================================
Transaction #:     85       Transaction Code:  14 (Search Results Displayed)

  Terminal ID:     64       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
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============= Transaction # 86 ==============================================
Transaction #:     86       Transaction Code:   6 (Direct Rank Search)     

  Terminal ID:     64       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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zfind "(topic @ {cyclone damage})"

============= Transaction # 87 ==============================================
Transaction #:     87       Transaction Code:  14 (Search Results Displayed)

  Terminal ID:     64       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
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============= Transaction # 88 ==============================================
Transaction #:     88       Transaction Code:   8 (Mixed Bool./Dir. Rank Search)

  Terminal ID:     64       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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zfind "(topic @ {typhoon}) not (topic {mirelle seth})"

============= Transaction # 89 ==============================================
Transaction #:     89       Transaction Code:  14 (Search Results Displayed)

  Terminal ID:     64       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
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============= Transaction # 90 ==============================================
Transaction #:     90       Transaction Code:  22 (Record(s) Saved)        

  Terminal ID:     64       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT933-5307</DOCNO>
<PROFILE>_AN-DIFB9AEJFT</PROFILE>
<DATE>9309
03
</DATE>
<HEADLINE> FT  03 SEP 93 / World News in Brief: Typhoon threatens
 Japan </HEADLINE>
<TEXT>
Typhoon Yancy, one of the biggest typhoons likely 
to hit Japan since the
second world war, is expected to hit the southern mai
n island of Kyushu with
winds of 112 mph around midday today.
</TEXT>
<XX>
C
ountries:-
</XX>
<CN>JPZ  Japan, Asia.
</CN>
<XX>
Industries:-
</XX>
<IN>P92
29 Public Order and Safety, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>RES  Natural r
esources.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> International Page 1 
</PAGE>
</DOC>

============= Transaction # 91 ==============================================
Transaction #:     91       Transaction Code:  22 (Record(s) Saved)        

  Terminal ID:     64       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      1   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
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<DOC>
<DOCNO>FT944-17187</DOCNO>
<PROFILE>_AN-EJJD1ACJFT</PROFILE>
<DATE>941
010
</DATE>
<HEADLINE> FT  10 OCT 94 / Business Travel (Update): Typhoon hit
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>
Countries:-
</XX>
<CN>TWZ  Taiwan, Asia.
</CN>
<XX>
Ind
ustries:-
</XX>
<IN>P9511 Air, Water, and Solid Waste Management.
</IN>
<XX>

Types:-
</XX>
<TP>NEWS  General News.
</TP>
<PUB>The Financial Times </PUB>

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

============= Transaction # 92 ==============================================
Transaction #:     92       Transaction Code:  22 (Record(s) Saved)        

  Terminal ID:     64       Z39.50 Server ID:  19 (TREC)                   
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<DOCNO>FT933-6566</DOCNO>
<PROFILE>_AN-DH0CBAAKFT</PROFILE>
<DATE>9308
27
</DATE>
<HEADLINE> FT  27 AUG 93 / World News in Brief: Japan faces typho
on </HEADLINE>
<TEXT>
Heavy rain and strong winds swept eastern Japan as Typ
hoon Vernon moved in
from the Pacific with winds forecast to reach 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>RE
S  Natural resources.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Pa
ge 1 </PAGE>
</DOC>

============= Transaction # 93 ==============================================
Transaction #:     93       Transaction Code:  22 (Record(s) Saved)        

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<PROFILE>_AN-EJDDVAH3FT</PROFILE>
<DATE>940930

</DATE>
<HEADLINE> FT  30 SEP 94 / World News in Brief: Typhoon hits western
 Japan </HEADLINE>
<TEXT>
Typhoon Orchid swept through areas surrounding Osa
ka in western Japan,
disrupting industry and closing the city's internationa
l airport.
</TEXT>
<XX>
Countries:-
</XX>
<CN>JPZ  Japan, Asia.
</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> 
International Page 1 </PAGE>
</DOC>

============= Transaction # 94 ==============================================
Transaction #:     94       Transaction Code:  22 (Record(s) Saved)        

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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 # 95 ==============================================
Transaction #:     95       Transaction Code:  22 (Record(s) Saved)        

  Terminal ID:     64       Z39.50 Server ID:  19 (TREC)                   
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<DOCNO>FT933-6273</DOCNO>
<PROFILE>_AN-DH2AOACHFT</PROFILE>
<DATE>9308
28
</DATE>
<HEADLINE> FT  28 AUG 93 / Residents evacuate Japanese town after
 Typhoon Vernon </HEADLINE>
<TEXT>
Some residents were urged to evacuate the
ir homes in Chiba, east of Tokyo,
yesterday, as rivers swelled in the wake o
f Typhoon Vernon. Road, rail and
air links with the Japanese capital were cu
t
</TEXT>
<XX>
Countries:-
</XX>
<CN>JPZ  Japan, Asia.
</CN>
<XX>
Industries
:-
</XX>
<IN>P9229 Public Order and Safety, NEC.
</IN>
<XX>
Types:-
</XX>
<T
P>NEWS  General News.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Pa
ge 22 </PAGE>
</DOC>

============= Transaction # 96 ==============================================
Transaction #:     96       Transaction Code:  22 (Record(s) Saved)        

  Terminal ID:     64       Z39.50 Server ID:  19 (TREC)                   
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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 # 97 ==============================================
Transaction #:     97       Transaction Code:  22 (Record(s) Saved)        

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<DOC>
<DOCNO>FT942-10018</DOCNO>
<PROFILE>_AN-EELCZAFOFT</PROFILE>
<DATE>940
512
</DATE>
<HEADLINE> FT  12 MAY 94 / International Company News: Insurers 
set to raise premiums </HEADLINE>
<BYLINE>    By EMIKO TERAZONO </BYLINE>
<T
EXT>
Japan's fire and marine insurance groups, faced with higher insurance
p
ayments due to an increase in typhoon damages, are likely to raise fire
insu
rance premiums this year. It will be the first increase in this sector
since
 1948.
The Fire and Marine Insurance Rating Association of Japan, an insuran
ce
industry group, has applied for finance ministry approval to raise fire
i
nsurance premiums by an average 7.74 per cent for houses and 5.86 per cent
f
or offices.
After the spate of typhoons in 1991, insurance payments rose thr
ee-fold to
Y650bn (Dollars 6.3bn).
</TEXT>
<XX>
Countries:-
</XX>
<CN>JPZ  J
apan, Asia.
</CN>
<XX>
Industries:-
</XX>
<IN>P6331 Fire, Marine, and Casual
ty Insurance.
</IN>
<XX>
Types:-
</XX>
<TP>COSTS  Product costs & Product pr
ices.
</TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page 29 </PAGE>
</
DOC>

============= Transaction # 98 ==============================================
Transaction #:     98       Transaction Code:  22 (Record(s) Saved)        

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<DOC>
<DOCNO>FT922-6006</DOCNO>
<PROFILE>_AN-CE0AWAF7FT</PROFILE>
<DATE>9205
27
</DATE>
<HEADLINE> FT  27 MAY 92 / International Capital Markets: Top Jap
anese insurers report fall in profits </HEADLINE>
<BYLINE>    By EMIKO TERAZ
ONO </BYLINE>
<DATELINE>    TOKYO </DATELINE>
<TEXT>
JAPANESE non-life insur
ance companies were hit by sharp increases in
underwriting losses stemming f
rom last September's typhoon damages and
declining investment income.
Non-co
nsolidated net premium income for the year ended March at the top five
Japan
ese non-life insurers - Tokio Marine & Fire, Yasuda Fire & Marine,
Mitsui Ma
rine & Fire, Sumitomo Marine & Fire, and Nippon Fire & Marine -
rose 6.8 per
 cent as a result of brisk sales of car and compulsory auto
liability insura
nces.
But all five companies reported falls in pre-tax and after-tax profits
. Only
Tokio posted an operating profit. Net insurance payments for the five

companies jumped 27.7 per cent to Y1,857.3bn (Dollars 14.35bn), due to a
ri
se in car accidents and the surge in claims from typhoon damages.
Non-operat
ing profits were squeezed due to lower interest rates and the
stock market s
lump.
The companies also faced a sharp rise in redemptions for the savings t
ype
insurances.
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Page 2
8 </PAGE>
</DOC>

============= Transaction # 99 ==============================================
Transaction #:     99       Transaction Code:  22 (Record(s) Saved)        

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<DOC>
<DOCNO>FT943-7718</DOCNO>
<PROFILE>_AN-EHVD2AA6FT</PROFILE>
<DATE>9408
22
</DATE>
<HEADLINE> FT  22 AUG 94 / Taiwanese projects in China </HEADLINE
>
<BYLINE>    By LAURA TYSON and REUTER </BYLINE>
<DATELINE>    TAIPEI </DAT
ELINE>
<TEXT>
Taiwan has approved proposals for 31 investment projects in Ch
ina totalling
Dollars 60m (Pounds 38.9m) and will further relax restrictions
 on investment
by local companies in China, the Economics Ministry said at t
he weekend.
The moves signify a further step in the liberalisation of invest
ment by
listed Taiwanese companies across the Taiwan Strait, until recently 
subject
to strict government controls. Small companies have been investing i
n China
since the early 1980s, largely through indirect channels.
Taiwan has
 banned direct trade, investment and transport links with China
since 1949, 
forcing the bulk of such activities to be routed through Hong
Kong.
The rece
ntly approved investments by Taiwanese companies include a Dollars
6m contai
ner terminal project by Evergreen Marine, part of the Evergreen,
one of the 
world's biggest container shipping lines. The project marks
Evergreen's firs
t foray into China following an announcement in May it
planned investments a
mounting to Dollars 80m.
A total of 633 items will be moved from a prohibite
d list and to a permitted
investment list for Taiwanese manufacturers, the E
conomics Ministry said.
The newly approved list includes 196 textile items, 
188 machinery items and
eight steel-related items.
The combined export value
 of the 633 items was Dollars 22.6bn in 1993,
accounting for 27 per cent of 
Taiwan's total exports, the ministry said.
Imports of the items amounted to 
Dollars 6.14bn or 8 per cent of the total.
A fourth typhoon in two months po
unded Taiwan yesterday on leaving three
people dead and two missing, Reuter 
adds from Taipei.
Typhoon Fred brought 180mm of rain across northern Taiwan 
overnight and
early on Sunday, and as much as 480mm in mountain districts, d
ays after
torrential rains from Typhoon Doug caused floods in the southern c
ity of
Kaohsiung.
Most domestic flights and many trains were cancelled as th
e storm, with
winds of up to 180kph, swept across the north of the island.
<
/TEXT>
<XX>
Countries:-
</XX>
<CN>CNZ  China, Asia.
    TWZ  Taiwan, Asia.
<
/CN>
<XX>
Industries:-
</XX>
<IN>P9611 Administration of General Economic Pr
ograms.
    P9229 Public Order and Safety, NEC.
</IN>
<XX>
Types:-
</XX>
<TP
>RES  Capital expenditures.
    NEWS  General News.
</TP>
<PUB>The Financial
 Times </PUB>
<PAGE> London Page 4 </PAGE>
</DOC>

============= Transaction # 100 ==============================================
Transaction #:    100       Transaction Code:  22 (Record(s) Saved)        

  Terminal ID:     64       Z39.50 Server ID:  19 (TREC)                   
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<DOC>
<DOCNO>FT933-757</DOCNO>
<PROFILE>_AN-DI1CRABAFT</PROFILE>
<DATE>93092
8
</DATE>
<HEADLINE> FT  28 SEP 93 / World Trade News: Typhoons may force To
kyo to import rice </HEADLINE>
<BYLINE>    By ROBERT THOMSON </BYLINE>
<DATE
LINE>    TOKYO </DATELINE>
<TEXT>
JAPAN is under increasing pressure to impo
rt rice to counter an expected
shortfall in this year's crop, which has been
 severely damaged by a spate of
typhoons and an unusually cold summer.
The A
griculture Ministry yesterday denied Japanese newspaper reports that it
has 
already decided on limited imports, but officials have admitted the
annual r
ice harvest index, due to be announced on Thursday, will show a
sharp fall i
n production.
Imports will be an embarrassment for the Japanese government, 
which has
resisted international pressure for the rice market to be opened a
s part of
a settlement under the Uruguay Round of multilateral trade talks.

There was a suggestion from within the government yesterday that emergency
i
mports could be used to signify the opening of the market, although Tokyo's

negotiating position has been that a decision on the rice market is
impossib
le until the US and EC reach agreement on farm trade. It is more
likely that
 imports would be characterised as a once-only response to the
shortfall.
On
e Japanese negotiator explained that differences between the US and EC
made 
a rice market opening difficult to justify to politically influential
Japane
se farmers.
Japan relaxed its ban on imports in 1984, when 150,000 tonnes of
 rice were
imported from South Korea, and rice was imported in the harsh yea
rs
immediately after the second world war.
The rice harvest index for August
 was 95, against the 100 of an average
year, but it is widely expected the i
ndex for September will slip to about
85.
Mr Morihiro Hosokawa, the prime mi
nister, has indicated he will be more
flexible on the issue than his predece
ssors. However, the largest group in
Mr Hosokawa's coalition government, the
 Social Democratic party, formerly
the Japan Socialist party, is strongly op
posed to rice imports.
</TEXT>
<XX>
Countries:-
</XX>
<CN>JPZ  Japan, Asia.

</CN>
<XX>
Industries:-
</XX>
<IN>P0112 Rice.
</IN>
<XX>
Types:-
</XX>
<TP>M
KTS  Foreign trade.
    MKTS  Production.
</TP>
<PUB>The Financial Times </P
UB>
<PAGE> London Page 5 </PAGE>
</DOC>

============= Transaction # 101 ==============================================
Transaction #:    101       Transaction Code:  22 (Record(s) Saved)        

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<DOC>
<DOCNO>FT944-17842</DOCNO>
<PROFILE>_AN-EJFD1ADEFT</PROFILE>
<DATE>941
006
</DATE>
<HEADLINE> FT  06 OCT 94 / Technology: Japan rocks steady </HEAD
LINE>
<BYLINE>    By EMIKO TERAZONO </BYLINE>
<TEXT>
The Great Buddha of Kam
akura was little moved by this week's earthquake in
Japan. The 40ft statue o
n the outskirts of Tokyo rests on steel shock
absorbers on a granite base, a
llowing it to move with the tremor.
Like the Buddha of Kamakura, many Japane
se buildings today have special
foundations which absorb tremors and allow t
he structures to dissipate quake
energy by swaying. These devices include be
arings made of rubber and steel,
or layered steel and rubber between the bui
lding and its foundations.
This technology is used mainly in structures unde
r 200m high. 'Buildings
taller than 30 storeys are able to move with the ear
thquake,' says Yuichiro
Ogawa, who manages Shimizu Construction's structural
 technology division.
The problem for designers now is to deal with the effe
cts of swaying. The
36-storey Kasumigaseki building in central Tokyo, built 
in 1968, was the
first high-rise to include 'soft structure' technology, all
owing the
building's beams and pillars to vibrate with the quake. Further
te
chnological advances have led to skyscrapers more than 200m tall, but
their 
flexibility means that strong winds and typhoons sway them to an
uncomfortab
le degree, causing symptoms similar to seasickness and making
high-rises uns
uitable for residential use.
This has been eased by computerised vibration c
ontrol systems. Strong winds
cause computers to activate a large rectangular
 weight, supported by four
pillars made of layers of rubber which move in th
e opposite direction to the
building's movements. Shimizu's system - the fir
st to be installed in a
skyscraper of more than 200m, two years ago - passed
 its first big test in
last week's typhoon, the strongest to hit western Jap
an this year. Other
companies have developed and installed similar systems.

Shimizu said that the usual degree of fluctuation was reduced by two-thirds.

Occupants of the building's apartments and hotel reported feeling hardly an
y
swaying despite strong gusts of wind.
</TEXT>
<XX>
Countries:-
</XX>
<CN>J
PZ  Japan, Asia.
</CN>
<XX>
Industries:-
</XX>
<IN>P1796 Installing Building
 Equipment, NEC.
    P1799 Special Trade Contractors, NEC.
    P3625 Relays 
and Industrial Controls.
</IN>
<XX>
Types:-
</XX>
<TP>TECH  Products & Produ
ct use.
    CMMT  Comment & Analysis.
</TP>
<PUB>The Financial Times </PUB>

<PAGE> London Page 18 </PAGE>
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============= Transaction # 108 ==============================================
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<DOC>
<DOCNO>FT943-44</DOCNO>
<PROFILE>_AN-EI3DUAHVFT</PROFILE>
<DATE>940930

</DATE>
<HEADLINE> FT  30 SEP 94 / Survey of World Economy and Finance - In
dustry (28): A powerhouse of revenue - Tourism / Developing countries are co
ttoning on </HEADLINE>
<BYLINE>    By RICHARD GORDON </BYLINE>
<TEXT>
At a r
ecent tourism conference, held on a Thames river boat in London,
Stephen Dor
rell, the UK heritage secretary, told a group of tourism leaders
that Britai
n needs to regain its declining share of the growing global
tourism market. 
At that moment, a London red bus, emblazoned with a sign
inviting Londoners 
to 'Visit Korea in 1994', thundered overhead on Vauxhall
Bridge.
The problem
 for Britain, and other traditional tourist destinations, is that
the rest o
f the world has cottoned on to tourism. As the biggest growth
industry, empl
oyer and source of revenue around the world, many developing
countries have 
realised a quicker way to buy into first world affluence is
by boosting thei
r tourism potential rather then by selling tractors, bananas
and rice.
Globa
l tourism, according to the World Travel & Tourism Council, will double
in s
ize between 1990 and 2005. The market has been growing by 5 per cent a
year 
in real terms since 1970. In 1993, the global tourism industry
generated USD
ollars 3,400bn in gross output, produced 10.1 per cent of GDP,
and accounted
 for 10.5 per cent of all jobs.
The Council says governments cannot afford t
o ignore the industry's role as
an economic powerhouse and should make it a 
strategic development priority.
The sheer size of the global industry has aw
akened many multinational
companies to the possibilities of global brands an
d market dominance. As
airlines form international networks and alliances, s
o, too, travel agents,
hotel brands and car hire firms are banding together.

Several companies have already made the first moves towards serving the
glo
bal tourism marketplace. The US travel agent Carlson, together with its
Euro
pean counterpart Wagonlit, is now the world's largest travel agent, with
4,0
00 units. Carlson also wants to be the world's largest hotel brand using
its
 Radisson name. American Express is about to buy a large chunk of Thomas
Coo
k's travel agency business in North America, the largest tourism market
The 
only areas not targeted by the global brands are the Middle East and
Asia, w
here international arrivals in East Asia and the Pacific grew four
times fas
ter than the world average in 1993, reaching a record of 69m
visitors. While
 arrivals were up by 12.6 per cent, revenue grew by 15.2 per
cent to USDolla
rs 52.6bn. The World Tourism Organisation forecasts 101m
arrivals in East As
ia and the Pacific by 2000, and 190m by 2010.
However, this growth may be co
nstrained by a shortage of human resources,
the health and safety of tourist
s, environmental concerns, under-developed
infrastructure and local resident
s' unease over the number of tourists.
But global tourism growth makes it cl
ear why the UK annual tourism revenue
growth of 5.7 per cent has caused a gr
eat deal of hand wringing within
certain UK tourism industry circles.
Robert
 Peel, chairman and chief executive of UK hotel company Mount
Charlotte Inve
stments, says the world tourism market is all about value for
money.
'There 
is a distinct relationship between prices and volume in world
tourism. To ge
t more tourists to the UK we have to make it worth their while
to come here.
 The foreign exchange rate is a big factor in the equation. The
UK is now 20
 per cent better value for foreign tourists than two years ago.'
But the UK 
is facing tough competition in the international marketplace. For
example, M
exico, Australia and the Caribbean island of Aruba each spend more
on touris
m promotion in the US than the UK does. The biggest expense of any
tourism d
estination is advertising and promotion. In 1993, national
governments spent
 USDollars 1.4bn selling themselves to the tourists.
Apart from advertising,
 other factors such as investment in tourism
infrastructure, new airline rou
tes and political stability influence the
international tourists' holiday de
cision.
One of the most important issues impacting the MIddle East is the pr
esent
peace negotiations between Israel, the PLO, Jordan and Syria. The lack
 of
peace in the region has been a principal reason for the limited number o
f
tourist arrivals. As a whole, the Middle East in its best year of 1992
att
racted only 2 per cent of the world's tourist arrivals or 9m visitors,
compa
red to Greece which also attracted 9m.
Israel stands to benefit the most in 
terms of tourism from the recent peace
process. Tourist arrivals in Israel r
eached a record level of 1.65m last
year. Lasting peace in the region would 
create a vast influx of business and
leisure tourists in Israel. Jordan, Leb
anon, and Syria could also expect to
see a sizeable increase in tourism.
Vie
tnam is the latest fashionable destination for tourists. There has been
huge
 growth in tourism to Vietnam, but the figures are relatively small.
Most vi
sitors are business people as tourist visas are hard to obtain.
Foreign inve
stment in Vietnam in the first quarter of this year jumped by 58
per cent co
mpared to the same period last year. Between 1988 and 1990, most
projects in
volving foreign money were in the hotel and oil sectors. The
total amount of
 foreign investment in 1994 is expected to reach USDollars
3.5bn, of which 7
0 per cent is in joint ventures.
The emergence and acceptability of Vietnam 
was confirmed recently when
British Airways announced that it is negotiating
 to operate two flights per
week from London to Ho Chi Minh City.
Robert Bur
ns, chairman of the World Travel & Tourism Council, believes
Shanghai will e
merge in 10 years as the most important Asian city. A new
airport, which cou
ld handle 150 landings an hour, is being built. Hotels in
Shanghai are opera
ting at near capacity and room rates are rocketing.
As Mr Burns pointed out,
 Japan now has a policy, the result of a balance of
trade problem, that 20 p
er cent of its population should travel abroad by
2010. If China ever had ju
st two 2 per cent of its population travelling
overseas, the rest of the wor
ld would be inundated with Chinese tourists.
</TEXT>
<XX>
Countries:-
</XX>

<CN>GBZ  United Kingdom, EC.
    XAZ  World.
</CN>
<XX>
Industries:-
</XX>
<
IN>P9611 Administration of General Economic Programs.
    P7999 Amusement an
d Recreation, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment & Analysis.
</
TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page XVI </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>

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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
>

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<DOC>
<DOCNO>FT911-2446</DOCNO>
<PROFILE>_AN-BD3BIAC6FT</PROFILE>
<DATE>9104
30
</DATE>
<HEADLINE> FT  30 APR 91 / Survey of Singapore (13): An alliance 
of regional rivals - Tourism: in a good position to play the role of an ushe
r </HEADLINE>
<BYLINE>    By JOYCE QUEK </BYLINE>
<TEXT>
SINGAPORE is facing
 the challenges posed by some of its neighbours in the
tourism industry in a
n unusual way.
It has developed a two-pronged response to the challenge of r
egional and
global tourism. It aims to consolidate and further strengthen it
s own
tourism product while playing its part to market the broader attractio
ns of
its Asean neighbours. The authorities believe this to be in the intere
sts of
the region.
The Singapore Tourist Promotion Board's (STPB) stance is 
that the true
tourism competition comes not from its neighbours but from oth
er regions of
the world, particularly well-established tourist destinations 
such as the
Caribbean or the Mediterranean.
The mood of Asean being currentl
y co-operative, the answer comes as no
surprise. The concept of marketing th
e region as an alternative to the
Caribbean or the Mediterranean has merit.

The appeal of Asean as a region is much greater than any single country. And

yet, diversity is available in a compact geographical area where tourism
in
frastructure and ease of air access have improved immensely over the past
fi
ve years.
So the city-state does not apply the traditional definition of com
petition
to its neighbours. Instead, co-operation in developing the region's
 tourism
potential is at the core of the STPB's tourism strategy - part of i
ts
marketing effort is to assist visitors to Singapore to explore the
attrac
tions of neighbours Malaysia and Indonesia to further vary their
experiences
.
Together with its Asean neighbours, the republic is promoting the region's

multifarious attractions through several Visit Asean Year 1992 campaigns.
E
conomic co-operation is evident in the Growth Triangle where multinationals

in Singapore unwilling to upgrade and automate in the light of higher wages

are steered to Johor, Malaysia, and the Riau islands of Indonesia, whichhave

lower land and labour costs.
Singapore benefits by offering its marketing, 
management and financial
expertise. The idea of multilateral co-operation wa
s mooted on the basis
that Singapore prospers with, rather than at the expen
se of, its neighbours.
The republic is in an excellent position to play ushe
r. Last year, visitors
to Malaysia doubled from 3.7m in 1989 to 7m arrivals,
 of which 65 per cent
came through Singapore.
The republic enjoyed a 20 per 
cent increase in earnings in 1990 to SDollars
7.6bn or 6 per cent of its gro
ss domestic product. Though he disagrees with
the Caribbean comparison, Joho
r's chief minister, Mr Tan Sri Muhyiddin
expects more tourism for the Growth
 Triangle. He is assuming the opening up
of a market in cash-rich vistors fr
om Japan, Taiwan and South Korea on the
back of their strong economies. Base
d on this assumption, thetriangle
partners are forecasting 22.5m visitors yi
elding some Dollars 22bn in 1992.
The Asean Tourism Information Centre's pre
liminary 1990 report on the
industry concluded that the region will continue
 to be its own best tourism
market as the importance of intra-Asean travel g
rows and the regional
economies strengthen.
In 1989, the five Asean countrie
s, excluding Brunei, earned Dollars 10.2bn
in tourism with 36.8 per cent of 
the 16.4m arrivals being intra-Asean
travel. Asean nations experienced 15-30
 per cent growth in arrivals in 1990,
which recordedmore than 17m visitors.

Singapore was not spared the sharp worldwide drop in tourist arrivals during

the Gulf War.
Hotel occupancy rates sank as low as 30 per cent before recov
ering back to
the 70 per cent levels. Special discounts are being offered fo
r the next few
months to attract local and foreign custom.
Even the finance 
minister, during his budget speech in March, gave some help
to the hotels, r
estaurants and tourist-related shops adversely affected by
the Gulf War's se
condary effects. He reduced the tourism excess rate from
4to 3 per cent for 
a year to tide them over their difficulties. The STPB
expectsthe industry to
 pick up soon while others forecast recovery around
the year-end.
Meanwhile,
 Singapore continues to invest in developing its own tourism
infrastructure 
and attractions. The Dollars 578m tourism development plan
nearing fruition 
sees a new generation of tourism attractions coming
onstream.
The heritage a
ttractions include some of the island's oldest buildings
restored to their f
ormer glory, such as Raffles Hotel of Somerset Maugham
fame and Alkaff Mansi
on, a grand getaway house on a hill formerly owned by a
pioneer.
The conserv
ation efforts, which also include Chinatown and Tanjong Pagar,
have played a
 prominent role as part of urban redevelopment plan in the late
1980s and 19
90, the tourism industry having been instrumental in preserving
important pa
rts of Singapore's heritage.
New theme parks such as Haw Par Villa's combina
tion of high-tech heaven and
Chinese-style hell, and the Underwater World at
 Sentosa, widen fun options.
At the infrastructural level, new resort hotels
 on Sentosa island diversify
the range of accommodations available in the Li
on City. The completion of
the Singapore International Convention and Exhibi
tion Centre at Suntec City,
a project sponsored by the Who's Who of Hong Kon
g's business moguls, adds to
the industry's capabilities and underscore Sing
apore's position as Asia's
leading convention city.
 -----------------------
----------------------------------------------
                    TOURISM I
NDICATORS 1984-90
 ---------------------------------------------------------
------------
          Arrivals            Room inventory
                  
       %                              %
                      change        
                 change
1984     2,991,430      4.8     16,440              
   13.6
1985     3,030,970      1.3     19,018                 15.7
1986    
 3,191,058      5.3     22,080                 16.1
1987     3,678,809     1
5.3     23,431                  6.1
1988     4,186,091     13.8     24,669  
                5.3
1989     4,829,950     15.4     22,457                 -
9.0
1990     5,310,992     10.0     23,807                  6.0
 -----------
----------------------------------------------------------
Source: Singapore
 Tourist Promotion Board
 --------------------------------------------------
-------------------
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Pa
ge VI Map (Omitted). Photograph (Omitted). Photograph Water fun, the lagoon 
at the Sentosa island theme park (above, right) which widens the tourist opt
ions (Omitted). </PAGE>
</DOC>

============= Transaction # 112 ==============================================
Transaction #:    112       Transaction Code:  19 (Record Selected)        

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<DOC>
<DOCNO>FT921-15886</DOCNO>
<PROFILE>_AN-CAHBJAAPFT</PROFILE>
<DATE>920
108
</DATE>
<HEADLINE> FT  08 JAN 92 / Survey of Kenya (16): Strategies for 
all seasons - Tourism, from potential disaster to mild success </HEADLINE>
<
BYLINE>    By JULIAN OZANNE </BYLINE>
<TEXT>
THE worldwide downturn in touri
sm last year, fuelled by the Gulf crisis, the
international economic recessi
on and the escalating costs of air travel, has
proved a watershed in Kenya.

Kenya's dynamic tourism industry, although faced by the prospect of a severe

loss of jobs and hard currency in what is its biggest foreign exchange
earn
ing sector, has turned 1991 from being a potential disaster into a mild
succ
ess.
The private sector and the government, with cancellations running at up
 to
60 per cent for the peak season of January to March, rallied with a seri
es
of measures.
The boldest move by government was the decision to open up K
enya to South
African tourists, several months before the October Commonweal
th head of
government conference in Harare. Visas, previously denied to Sout
h Africans,
were granted at the airport and an agreement was reached to allo
w South
African Airways and Kenya Airways to operate one flight each a week 
between
Nairobi and Johannesburg.
The government also gave new incentives to
 the hotel training college,
established an autonomous airports authority an
d started the rehabilitation
of Nairobi's international airport and continue
d to strengthen the
newly-created Kenya Wildlife Service, a semi-autonomous 
parastatal in charge
of security and management in Kenya's national parks.
T
he private sector moved quickly, reducing rates and increasing charter
fligh
ts, particularly from Spain and Britain. In August and September there
were 
42 such flights a week arriving in Kenya, each with about 200 seats, in
addi
tion to scheduled flights.
These measures appear to have averted a slump in 
tourist arrivals which in
1990 nearly reached 900,000 people, while foreign 
exchange earnings last
year should approach the 1990 level of Dollars 467m.

Sustaining the remarkable growth which Kenya's tourist sector has enjoyed
si
nce independence will not be easy.
Since 1963 the numbers of visitors a year
 have increased from 110,000 to
889,000 in 1990 and foreign exchange earning
s in the same period have
mushroomed from Dollars 25m to Dollars 467m. In 19
87, tourism overtook
coffee as the country's number one foreign exchange ear
ner.
The impact on the rest of the economy has been vast. Throughout the las
t
decade employment in the sector has grown by at least 5 per cent a year an
d
tourism has contributed to the expansion of the services sector - hotels,

restaurants, road and air transport - and to allied industries such as
const
ruction and food. Much of the rapid growth in tourism in the past
quarter of
 a century has been due to declining costs of air travel and the
extensive i
nfrastructure which was in place at independence.
The government has created
 a reasonably attractive enabling environment
through welcoming foreign inve
stment in tourism, the development of
infrastructure and the maintenance of 
relative political stability.
Increasing importance has been given to conser
vation and better animal
management and while the national parks and reserve
s sector was marred by a
long period of poaching and inefficiency between 19
76-88 it has become a top
priority.
However, with mounting regional competit
ion and the demands of the growing
population a much greater effort is requi
red. In order to continue
generating jobs and increasing critical foreign ex
change earnings the
government has recognised the need to creat a better env
ironment.
Mr Philemon Mwaisaka, permanent secretary in the Ministry of Touri
sm, says
the government is targeting two key areas for growth over the next 
three
years: diversifying the type of tourism available and drawing in visit
ors
from new markets.
Diversification away from game parks and beaches will 
depend on giving
greater importance to attractions such as cultural, confere
nce and
speciality tourism, scuba diving, fishing or mountaineering, and ope
ning up
new areas of Kenya to tourist development such as the volcanic deser
t around
Lake Turkana.
Attracting visitors from outside the traditional mark
ets of the US and
Europe will require a big publicity drive in the Asia Paci
fic area,
particularly Japan and Singapore.
In order to realise both ambitio
ns a overhaul of Kenya's hitherto weak
overseas marketing is necessary. So f
ar the government has been content to
leave most of the marketing to the pri
vate sector. Unlike many other
countries Kenya does not have an autonomous t
ourist board. Between 1986 and
1990 the government spent a mere Dollars 25m 
on marketing.
Kenya's well organised private sector has been lobbying hard f
or a tourist
board to be set up under an autonomous director to launch a con
certed
marketing campaign of research, information gathering and publicity t
o
enable the industry to better tailor and target their products in a
compet
itive market. The government has given its blessing to the appeal but
progre
ss appears slow.
Good marketing and closer links with airlines will be vital
 to attract the
high income from the choosy Japanese market.
Plans for Kenya
 Airways to open up a route to Bangkok next year may prove
insufficient to p
enetrate Asia and South Africa is proving a formidable
competitor with Singa
pore Airlines operating a flight to Johannesburg.
A number of issues need th
e government's urgent attention. Problem areas
include privatisation of gove
rnment share holdings in hotels, developing a
strategy for high income VIP t
ourism, planning how to cope with the growing
demand for combination tourism
 with tourists visiting at least two African
countries, better harmonisation
 of visa and health requirements and more
incentives, such as import duty ex
emption on vehicles for the tourist
sector.
 -------------------------------
----------------------
TOURISM PROFILE
 ------------------------------------
-----------------
         Total              Total     Aver. length
    rec
eipts (Dollars m)   visitors   of stay (days)
1965      30.2              14
7,400       9.3
1970      51.8              326,500       8.8
1980     222.4
              362,700      15.7
1985     239.8              541,200      15.
9
1987     354.9              662,100      16.0
1988     393.3              
676,900      16.0
1989     417.0              729,700      14.2
1990     467
.0 (est)        889,000 (est)  na
 -----------------------------------------
------------
Source: Ministry of Tourism
 ----------------------------------
-------------------
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Pa
ge VIII Map (Omitted). Table </PAGE>
</DOC>

============= Transaction # 113 ==============================================
Transaction #:    113       Transaction Code:  14 (Search Results Displayed)

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Transaction #:    114       Transaction Code:  19 (Record Selected)        

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<DOC>
<DOCNO>FT942-1532</DOCNO>
<PROFILE>_AN-EFWDNAGLFT</PROFILE>
<DATE>9406
23
</DATE>
<HEADLINE> FT  23 JUN 94 / Survey of Korea (12): Island's charm i
s under threat / A look at the impact that market liberalisation may have on
 Cheju </HEADLINE>
<BYLINE>    By JOHN BURTON </BYLINE>
<TEXT>
The beautiful
 volcanic island province of Cheju provides a good example of
the challenges
 that South Korea is confronting in opening its domestic
market to foreign c
ompetition.
Its half-million citizens are debating whether the benefits offe
red by wider
international access will outweigh the disruptive changes cause
d by market
liberalisation.
Cheju, which lies 100 kilometres south of the Ko
rean mainland, will be one
of regions most affected by the relaxation of res
trictions on agricultural
imports under the recent Uruguay round of Gatt.
Th
e threatened decline of the agricultural industry, which has supported the
i
sland for centuries, is accelerating a shift toward international tourism
as
 the province's new economic mainstay.
This is also forcing a change in atti
tudes on the island, which has
traditionally displayed a fierce independence
 to the outside world.
Cheju's tragic history has been marked by frequent re
volts against the
central government in Seoul. Its farmers were mostly freeh
olders, rather
than tenants as in the rest of Korea, which contributed to a 
resentment
against the heavy hand of the central government.
The rebellious 
nature of the island was reinforced by its role as a place of
banishment for
 political exiles until the expiration of the Korean monarchy
in 1910.
The i
sland suffered a mini-civil war in 1948-49, which was a harbinger of
the Kor
ean War of the 1950-53, when the Seoul government adopted a tough
policy in 
reasserting its authority over the island following Korea's
liberation from 
Japanese colonial rule.
An estimated 30,000 persons, about 12 per cent of th
e island's population at
the time, were killed during the insurrection.
The 
island's bloody history has created ambivalent attitudes toward the vast
cha
nges being imposed on Cheju from the outside.
The most significant developme
nt will be the decline of agriculture, which
still accounts for 36 per cent 
of the island's economy.
Cheju's agricultural industry is largely based on t
angerines, which are
grown on small, inefficient and heavily state-subsidise
d farms on the
southern half of the island. The full opening of the Korean m
arket to
tangerine imports by 2004 is likely to lead to a consolidation of l
ocal
farms.
The government, however, hopes to take advantage of the lower tr
ade barriers
promised by the Uruguay round to increase tangerine and other a
gricultural
exports to Japan, which are expected to triple within the next f
ive years to
Dollars 100m.
Cheju is seeking to create a sales network for ag
ricultural products in
Japan and establish direct shipping routes there for 
the quick delivery of
produce.
But these measures are only meant to preserve
 some of island's agricultural
industry and will do little to sustain Cheju'
s economic growth. Instead, the
government is concentrating on inter- nation
al tourism as the key instrument
to revive the island's fortunes.
The natura
l beauty of the island is well-suited to attract visitors. Its
landscape bea
rs more similarities to Europe than to Asia, combining the
volcanoes of Icel
and with the moors of Ireland and the coast of northern
Italy. The push for 
tourism began in the 1970s, when Cheju was developed as
a honey- moon resort
 for Korean couples. It enjoyed a captive market since
overseas travelling b
y Koreans was severely restricted by the government
until the late 1980s. To
urism in the past few years has become the island's
biggest industry, accoun
ting for 40 per cent of the economy.
But the recent easing of travel restric
tions has meant that Korean
newly-weds are now visiting Guam, Saipan and Haw
aii instead. Cheju has
switched its tourism strategy to attracting more fore
ign visitors,
particularly from Japan and Taiwan.
A total of Won7,390bn will
 be invested in Cheju by 2001 to build a series of
resort complexes in an at
tempt to increase tourism by 50 per cent to 5.3m
visitors annually. The emph
asis will no longer be on mass tourism, but on
attracting prosperous individ
ual travellers.
'We would like to build more hotels, sports facilities, aqua
riums, amusement
parks, yacht marinas and casinoes in the hope of making Che
ju the Las Vegas
of Asia,' says Mr Chi Youn-tai, president of the Korean Nat
ional Tourism
Corporation.
The KNTC has already established one resort compl
ex at Chungman Beach and
will participate in the construction of two others.
 The Hanjin conglomerate,
which owns the country's main carrier Korean Air, 
is also planning to build
a resort facility.
The government estimates that i
ncreased tourism by high-spending visitors
will quintuple the size of the is
land's economy to Won7,800bn by 2001.
But the islanders have expressed resen
tment at the development plans. 'Cheju
people are very independent- minded a
nd don't like to be interfered with by
outsiders,' admits Mr Chi. 'These peo
ple sometimes feel that the outsiders
are reaping all the advantages of the 
development and they are left with
little.'
But the conclusion of the Urugua
y Round and its impact on the island's
agricultural sector are changing peop
le's attitudes. 'They now realise that
they have a beautiful place for touri
sm, which will mean their survival.
They are beginning to understand that to
urism is very important,' Mr Chi
explained. Public opposition to the buildin
g of a second golf course on
Cheju, for example, is receding.
But the threat
 remains that extensive development will spoil the island's
con- siderable n
atural charm and destroy the appeal that first attracted
visitors to Cheju.

</TEXT>
<XX>
Countries:-
</XX>
<CN>KRZ  South Korea, Asia.
</CN>
<XX>
Indust
ries:-
</XX>
<IN>P9641 Regulation of Agricultural Marketing.
    P9721 Inter
national Affairs.
    P953  Housing and Urban Development.
</IN>
<XX>
Types:
-
</XX>
<TP>CMMT  Comment & Analysis.
</TP>
<PUB>The Financial Times </PUB>

<PAGE> London Page VIII </PAGE>
</DOC>

============= Transaction # 115 ==============================================
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<DOC>
<DOCNO>FT934-6252</DOCNO>
<PROFILE>_AN-DKYDLAF6FT</PROFILE>
<DATE>9311
25
</DATE>
<HEADLINE> FT  25 NOV 93 / Survey of Turkish Finance and Industry
 (14): Tourism revenue drops - Terrorist attacks frighten off visitors </HEA
DLINE>
<BYLINE>    By SHEILA JONES </BYLINE>
<TEXT>
The lure of cheap holida
ys in Turkey has been severely diminished by this
year's spate of kidnapping
s and bombings by Kurdish separatists.
Visitors to Turkey plummeted from 2.8
m to 2.2m in the peak months of July,
August and September, according to gov
ernment figures. Earnings for the year
are likely to be well below expectati
ons and short of last year's Dollars
3.6bn.
'Terrorism has seriously undermi
ned revenues from tourism,' says one western
diplomat in Ankara. 'The govern
ment had hoped for Dollars 6bn from tourism
this year. That is likely to be 
halved because of the PKK (Kurdish
separatist group).'
Tourism is still one 
of Turkey's biggest single foreign exchange earners.
Last year, the country 
took a 1.3 per cent share of the world's Dollars
279bn income from tourism. 
And the government says it believes earnings will
pick up again next year.
'
I am cautious about this year,' says Ms Ayse Feyizoglu, of the Turkish
touri
sm ministry. 'But in the long run I think the numbers should go on
increasin
g.'
The industry has grown rapidly since the mid-1980s when the government s
et
out to encourage tourism by improving the infrastructure, including roads
,
hotels and airport facilities, particularly along the Mediterranean and
Ae
gean coast.
'In 1987, we had only 65,000 hotel beds,' says Ms Feyizoglu. 'No
w there are
more than 300,000, and facilities for a further 200,000 are unde
r
construction. In the next two to three years, we expect the number of
fore
ign visitors to rise to 10m a year.'
Earnings from tourism rose sharply betw
een 1985 and 1990 as droves of
visitors, mostly from western Europe, took up
 the promise of a cheap and
exotic holiday, with good food and virtually gua
ranteed sunshine.
Between 1985 and 1990 the number of foreigners visiting Tu
rkey jumped from
2.5m to 5.4m, with receipts from tourism rising from Dollar
s 1.5bn to
Dollars 3.2bn.
The rise was interrupted in the aftermath of the G
ulf War, when earnings
dropped to Dollars 2.65bn in 1991. Last year, the num
bers bounced back, with
7m visitors, producing receipts of Dollars 3.6bn.
Ho
wever, up to September this year Turkey had attracted only 5m foreign
touris
ts, against 6.7m a year ago.
The latest figures, coupled with a rising numbe
r of Turks travelling abroad,
undermine government attempts to improve the c
ountry's balance of payments
position with earnings from tourism. An estimat
ed 3.2m Turks going abroad
will reduce the net figure from tourism this year
 by Dollars 950,000. Turks
are expected to spend Dollars 1bn on holidays abr
oad next year.
Ms Feyizoglu says that Turkey is making up some of the losses
 from Europe
with a rising number of visitors from the south-east Asia, in p
articular
from Japan. Last year, nearly 28,000 Japanese tourists visited Tur
key,
according to government figures, against 12,000 the year before.
After 
terrorist attacks on coastal resorts and kidnappings of foreigners,
the gove
rnment has promised greater security at hotels and other holiday
accommodati
on. The slide in earnings has also prompted new minimum
regulations for the 
industry.
Recession in Europe has discouraged visitors from abroad, says Ms 
Feyizoglu.
The number of Germans, who account for the largest group of touri
sts in
Turkey at about 12 per cent, has declined this year by more than 5 pe
r cent.
But officials say terrorist attacks are only part of the problem.
'T
he Germans also fear reprisals after neo-Nazi attacks on Turks in
Germany,' 
says Ms Feyizoglu. 'But no-one here would contemplate such an act
of revenge
.'
Western embassies in Ankara, including those of the US, Germany and the U
K,
are still warning their citizens to steer clear of south-east Turkey,
alt
hough not of the rest of the country.
Yet thousands of foreigners are stayin
g away, for whatever reason, and next
year's official target of 8m visitors 
to Turkey may prove optimistic.
</TEXT>
<XX>
Countries:-
</XX>
<CN>TRZ  Turk
ey, Middle East.
</CN>
<XX>
Industries:-
</XX>
<IN>P7999 Amusement and Recre
ation, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment & Analysis.
</TP>
<PU
B>The Financial Times </PUB>
<PAGE> London Page VI </PAGE>
</DOC>

============= Transaction # 116 ==============================================
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<DOC>
<DOCNO>FT943-11956</DOCNO>
<PROFILE>_AN-EG1ANAF7FT</PROFILE>
<DATE>940
727
</DATE>
<HEADLINE> FT  27 JUL 94 / Survey of Tunisia (11): Europeans are
 targeted - James Harding looks at the country's tourism strategy </HEADLINE
>
<BYLINE>    By JAMES HARDING </BYLINE>
<TEXT>
'Tourism in Tunisia is a sun
, sea and sand product,' according to Mr
Mohammed Jegham, minister for touri
sm. 'There is sometimes another 's', but
we do not encourage that, we leave 
it to our tourists.'
So saucy a comment may seem out of place from a ministe
r of a state where
Islam is the dominant religion, but from the representati
ve of a tourism
industry making a pitch for the Mediterranean market it is q
uite
appropriate. Rather than aiming for tourists to Morocco or Egypt, Mr Je
gham
has his sights on people who might go to the Balearics, Canaries or Gre
ece.
Along the coast and on the islands just offshore, purpose-built resorts
 at
Tabarka and Jerba, along with established destinations such as Hammamet,

Sousse and Monastir, offer holiday-makers guaranteed sun, a decent stretch

of sand, soft rock by the poolside, a cuisine blessed by both French and
Ara
b influences, and local wine, all for less than they would get it on the
nor
thern side of the Med.
Tourists appear to be appreciating this. Mr Jegham pr
edicts a record year
for hard-currency receipts from tourism of Dollars 1.3b
n, rising by a
further 15 per cent to Dollars 1.5bn in 1995. The official fi
gures support
his optimism, showing that for the first four months of 1994 t
ourists spent
4.54m nights in Tunisia, up 24 per cent on the previous year. 
Results are
particularly encouraging for the new luxury resorts offering gol
f, sailing,
hunting and diving in addition to the standard indulgences of a 
beach
holiday, with tourism nights up by 48 per cent at Tabarka and 38 per c
ent at
Jerba.
What is significant in a sector which represents only 5-6 per 
cent of GDP
but 20-25 per cent of hard currency receipts, is that Tunisia is
 attracting
more European tourists. In 1993, west European visitors rose by 
17 per cent
to 2.16m, including 712,000 Germans, 448,000 Frenchmen, 246,000 
Britons and
242,000 Italians.
The east European market is also being develop
ed successfully, with numbers
doubling to 70,000 last year, estimated to inc
rease to 100,000 this year,
and predicted to grow to 150,000 in 1995.
It is 
numbers that drive Tunisia's tourism strategy. The pace of
construction sugg
ests that the country will have 200,000 hotel beds by the
end of the century
.
Investment in quantity, which offers regular, bankable receipts, rather th
an
quality, which is notoriously vulnerable to trends in elite tourism, may

seem over-cautious. But Tunisian hoteliers point out that even if five-star

tourists spend a lot, they can also be infuriatingly unpredictable.
Consider
ing the numbers of workers who rely on tourism - Tunisian hotels
employ 60,0
00 people and other linked sectors a further 200,000 according to
the touris
m ministry, not to mention its impact on such sectors as
construction, agric
ulture and services - prudent investment in the more
dependable beach holida
y market promises steady results.
Nevertheless, sun, sea and sand is not all
 that is on offer - for travellers
who interpret Mr Jegham's fourth 's' to m
ean sites, there are several points
of interest. In addition to the Islamic 
sites at Kairouan, the mosaics at
the Bardo museum, and the desert in the so
uth, there are several outstanding
Roman sites.
At El Jem stands the largest
 amphitheatre in Africa visible from five miles
away across the open scrub o
f the Sahel plain. The 30,000-seater was built
in the second century AD and 
despite recurrent attacks and bombardment
against rebels who holed up in the
re over the first 1,000 years of its
existence, it is well-preserved. The de
licate touches in the form of
mosaics, inscriptions and sculpture which are 
noticeably missing from the
theatre itself can be found in the accompanying 
museum.
In the north-west corner of Tunisia, not far from the Algerian borde
r, two
further Roman sites are available for what is, in effect, a private v
iewing.
Dougga, a large provincial Roman town built in AD 168 sprawls across
 a
hillside commanding a view across a broad valley of olive groves,
wheatfi
elds and fallow ground. For an 1,800-year-old site, it feels
strangely lived
-in - the interconnecting dwellings, shops, latrines and
temples recreate a 
sense of the intimacy of the original Dougga community.
The wealthy inhabita
nts of Bulla Regia, which lies above the Mejerda Valley
and 60km north of Do
ugga, chose to build underground rather than on a
hillside exposed to the he
at. They made little allowance in architectural or
aesthetic terms for the i
nconvenience of building beneath the ground - the
villas exhibit classical c
ourtyards, the remains of central fountains and a
few pristine mosaics in si
tu, all in a cool, comfortable environment.
These exceptional sites are larg
ely untroubled by tourists. Development of
the beach holiday package has bee
n at the expense of investment in the
infrastructure for sightseeing. As a r
esult, the benefits of privacy in
'discovering' Tunisia are paid for in the 
costs of transport  - car hire is
extortionate.
With receipts growing at 10 
per cent on the back of Mediterranean business,
there is little reason for t
he enthusiastic and successful Mr Jegham to
redirect Tunisia's tourism strat
egy to invest in roads and buses to the
sites and super-luxury hotels for an
 elite clientele. Until that kind of
investment is made, however, you will h
ave to wake the gatekeeper at Dougga.
</TEXT>
<XX>
Countries:-
</XX>
<CN>TNZ
  Tunisia, 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 VI </PAGE>
</DOC>

============= Transaction # 117 ==============================================
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============= Transaction # 118 ==============================================
Transaction #:    118       Transaction Code:  19 (Record Selected)        

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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 # 119 ==============================================
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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 # 120 ==============================================
Transaction #:    120       Transaction Code:  22 (Record(s) Saved)        

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<DOC>
<DOCNO>FT943-44</DOCNO>
<PROFILE>_AN-EI3DUAHVFT</PROFILE>
<DATE>940930

</DATE>
<HEADLINE> FT  30 SEP 94 / Survey of World Economy and Finance - In
dustry (28): A powerhouse of revenue - Tourism / Developing countries are co
ttoning on </HEADLINE>
<BYLINE>    By RICHARD GORDON </BYLINE>
<TEXT>
At a r
ecent tourism conference, held on a Thames river boat in London,
Stephen Dor
rell, the UK heritage secretary, told a group of tourism leaders
that Britai
n needs to regain its declining share of the growing global
tourism market. 
At that moment, a London red bus, emblazoned with a sign
inviting Londoners 
to 'Visit Korea in 1994', thundered overhead on Vauxhall
Bridge.
The problem
 for Britain, and other traditional tourist destinations, is that
the rest o
f the world has cottoned on to tourism. As the biggest growth
industry, empl
oyer and source of revenue around the world, many developing
countries have 
realised a quicker way to buy into first world affluence is
by boosting thei
r tourism potential rather then by selling tractors, bananas
and rice.
Globa
l tourism, according to the World Travel & Tourism Council, will double
in s
ize between 1990 and 2005. The market has been growing by 5 per cent a
year 
in real terms since 1970. In 1993, the global tourism industry
generated USD
ollars 3,400bn in gross output, produced 10.1 per cent of GDP,
and accounted
 for 10.5 per cent of all jobs.
The Council says governments cannot afford t
o ignore the industry's role as
an economic powerhouse and should make it a 
strategic development priority.
The sheer size of the global industry has aw
akened many multinational
companies to the possibilities of global brands an
d market dominance. As
airlines form international networks and alliances, s
o, too, travel agents,
hotel brands and car hire firms are banding together.

Several companies have already made the first moves towards serving the
glo
bal tourism marketplace. The US travel agent Carlson, together with its
Euro
pean counterpart Wagonlit, is now the world's largest travel agent, with
4,0
00 units. Carlson also wants to be the world's largest hotel brand using
its
 Radisson name. American Express is about to buy a large chunk of Thomas
Coo
k's travel agency business in North America, the largest tourism market
The 
only areas not targeted by the global brands are the Middle East and
Asia, w
here international arrivals in East Asia and the Pacific grew four
times fas
ter than the world average in 1993, reaching a record of 69m
visitors. While
 arrivals were up by 12.6 per cent, revenue grew by 15.2 per
cent to USDolla
rs 52.6bn. The World Tourism Organisation forecasts 101m
arrivals in East As
ia and the Pacific by 2000, and 190m by 2010.
However, this growth may be co
nstrained by a shortage of human resources,
the health and safety of tourist
s, environmental concerns, under-developed
infrastructure and local resident
s' unease over the number of tourists.
But global tourism growth makes it cl
ear why the UK annual tourism revenue
growth of 5.7 per cent has caused a gr
eat deal of hand wringing within
certain UK tourism industry circles.
Robert
 Peel, chairman and chief executive of UK hotel company Mount
Charlotte Inve
stments, says the world tourism market is all about value for
money.
'There 
is a distinct relationship between prices and volume in world
tourism. To ge
t more tourists to the UK we have to make it worth their while
to come here.
 The foreign exchange rate is a big factor in the equation. The
UK is now 20
 per cent better value for foreign tourists than two years ago.'
But the UK 
is facing tough competition in the international marketplace. For
example, M
exico, Australia and the Caribbean island of Aruba each spend more
on touris
m promotion in the US than the UK does. The biggest expense of any
tourism d
estination is advertising and promotion. In 1993, national
governments spent
 USDollars 1.4bn selling themselves to the tourists.
Apart from advertising,
 other factors such as investment in tourism
infrastructure, new airline rou
tes and political stability influence the
international tourists' holiday de
cision.
One of the most important issues impacting the MIddle East is the pr
esent
peace negotiations between Israel, the PLO, Jordan and Syria. The lack
 of
peace in the region has been a principal reason for the limited number o
f
tourist arrivals. As a whole, the Middle East in its best year of 1992
att
racted only 2 per cent of the world's tourist arrivals or 9m visitors,
compa
red to Greece which also attracted 9m.
Israel stands to benefit the most in 
terms of tourism from the recent peace
process. Tourist arrivals in Israel r
eached a record level of 1.65m last
year. Lasting peace in the region would 
create a vast influx of business and
leisure tourists in Israel. Jordan, Leb
anon, and Syria could also expect to
see a sizeable increase in tourism.
Vie
tnam is the latest fashionable destination for tourists. There has been
huge
 growth in tourism to Vietnam, but the figures are relatively small.
Most vi
sitors are business people as tourist visas are hard to obtain.
Foreign inve
stment in Vietnam in the first quarter of this year jumped by 58
per cent co
mpared to the same period last year. Between 1988 and 1990, most
projects in
volving foreign money were in the hotel and oil sectors. The
total amount of
 foreign investment in 1994 is expected to reach USDollars
3.5bn, of which 7
0 per cent is in joint ventures.
The emergence and acceptability of Vietnam 
was confirmed recently when
British Airways announced that it is negotiating
 to operate two flights per
week from London to Ho Chi Minh City.
Robert Bur
ns, chairman of the World Travel & Tourism Council, believes
Shanghai will e
merge in 10 years as the most important Asian city. A new
airport, which cou
ld handle 150 landings an hour, is being built. Hotels in
Shanghai are opera
ting at near capacity and room rates are rocketing.
As Mr Burns pointed out,
 Japan now has a policy, the result of a balance of
trade problem, that 20 p
er cent of its population should travel abroad by
2010. If China ever had ju
st two 2 per cent of its population travelling
overseas, the rest of the wor
ld would be inundated with Chinese tourists.
</TEXT>
<XX>
Countries:-
</XX>

<CN>GBZ  United Kingdom, EC.
    XAZ  World.
</CN>
<XX>
Industries:-
</XX>
<
IN>P9611 Administration of General Economic Programs.
    P7999 Amusement an
d Recreation, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment & Analysis.
</
TP>
<PUB>The Financial Times </PUB>
<PAGE> London Page XVI </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 # 122 ==============================================
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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 # 123 ==============================================
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<DOC>
<DOCNO>FT911-2446</DOCNO>
<PROFILE>_AN-BD3BIAC6FT</PROFILE>
<DATE>9104
30
</DATE>
<HEADLINE> FT  30 APR 91 / Survey of Singapore (13): An alliance 
of regional rivals - Tourism: in a good position to play the role of an ushe
r </HEADLINE>
<BYLINE>    By JOYCE QUEK </BYLINE>
<TEXT>
SINGAPORE is facing
 the challenges posed by some of its neighbours in the
tourism industry in a
n unusual way.
It has developed a two-pronged response to the challenge of r
egional and
global tourism. It aims to consolidate and further strengthen it
s own
tourism product while playing its part to market the broader attractio
ns of
its Asean neighbours. The authorities believe this to be in the intere
sts of
the region.
The Singapore Tourist Promotion Board's (STPB) stance is 
that the true
tourism competition comes not from its neighbours but from oth
er regions of
the world, particularly well-established tourist destinations 
such as the
Caribbean or the Mediterranean.
The mood of Asean being currentl
y co-operative, the answer comes as no
surprise. The concept of marketing th
e region as an alternative to the
Caribbean or the Mediterranean has merit.

The appeal of Asean as a region is much greater than any single country. And

yet, diversity is available in a compact geographical area where tourism
in
frastructure and ease of air access have improved immensely over the past
fi
ve years.
So the city-state does not apply the traditional definition of com
petition
to its neighbours. Instead, co-operation in developing the region's
 tourism
potential is at the core of the STPB's tourism strategy - part of i
ts
marketing effort is to assist visitors to Singapore to explore the
attrac
tions of neighbours Malaysia and Indonesia to further vary their
experiences
.
Together with its Asean neighbours, the republic is promoting the region's

multifarious attractions through several Visit Asean Year 1992 campaigns.
E
conomic co-operation is evident in the Growth Triangle where multinationals

in Singapore unwilling to upgrade and automate in the light of higher wages

are steered to Johor, Malaysia, and the Riau islands of Indonesia, whichhave

lower land and labour costs.
Singapore benefits by offering its marketing, 
management and financial
expertise. The idea of multilateral co-operation wa
s mooted on the basis
that Singapore prospers with, rather than at the expen
se of, its neighbours.
The republic is in an excellent position to play ushe
r. Last year, visitors
to Malaysia doubled from 3.7m in 1989 to 7m arrivals,
 of which 65 per cent
came through Singapore.
The republic enjoyed a 20 per 
cent increase in earnings in 1990 to SDollars
7.6bn or 6 per cent of its gro
ss domestic product. Though he disagrees with
the Caribbean comparison, Joho
r's chief minister, Mr Tan Sri Muhyiddin
expects more tourism for the Growth
 Triangle. He is assuming the opening up
of a market in cash-rich vistors fr
om Japan, Taiwan and South Korea on the
back of their strong economies. Base
d on this assumption, thetriangle
partners are forecasting 22.5m visitors yi
elding some Dollars 22bn in 1992.
The Asean Tourism Information Centre's pre
liminary 1990 report on the
industry concluded that the region will continue
 to be its own best tourism
market as the importance of intra-Asean travel g
rows and the regional
economies strengthen.
In 1989, the five Asean countrie
s, excluding Brunei, earned Dollars 10.2bn
in tourism with 36.8 per cent of 
the 16.4m arrivals being intra-Asean
travel. Asean nations experienced 15-30
 per cent growth in arrivals in 1990,
which recordedmore than 17m visitors.

Singapore was not spared the sharp worldwide drop in tourist arrivals during

the Gulf War.
Hotel occupancy rates sank as low as 30 per cent before recov
ering back to
the 70 per cent levels. Special discounts are being offered fo
r the next few
months to attract local and foreign custom.
Even the finance 
minister, during his budget speech in March, gave some help
to the hotels, r
estaurants and tourist-related shops adversely affected by
the Gulf War's se
condary effects. He reduced the tourism excess rate from
4to 3 per cent for 
a year to tide them over their difficulties. The STPB
expectsthe industry to
 pick up soon while others forecast recovery around
the year-end.
Meanwhile,
 Singapore continues to invest in developing its own tourism
infrastructure 
and attractions. The Dollars 578m tourism development plan
nearing fruition 
sees a new generation of tourism attractions coming
onstream.
The heritage a
ttractions include some of the island's oldest buildings
restored to their f
ormer glory, such as Raffles Hotel of Somerset Maugham
fame and Alkaff Mansi
on, a grand getaway house on a hill formerly owned by a
pioneer.
The conserv
ation efforts, which also include Chinatown and Tanjong Pagar,
have played a
 prominent role as part of urban redevelopment plan in the late
1980s and 19
90, the tourism industry having been instrumental in preserving
important pa
rts of Singapore's heritage.
New theme parks such as Haw Par Villa's combina
tion of high-tech heaven and
Chinese-style hell, and the Underwater World at
 Sentosa, widen fun options.
At the infrastructural level, new resort hotels
 on Sentosa island diversify
the range of accommodations available in the Li
on City. The completion of
the Singapore International Convention and Exhibi
tion Centre at Suntec City,
a project sponsored by the Who's Who of Hong Kon
g's business moguls, adds to
the industry's capabilities and underscore Sing
apore's position as Asia's
leading convention city.
 -----------------------
----------------------------------------------
                    TOURISM I
NDICATORS 1984-90
 ---------------------------------------------------------
------------
          Arrivals            Room inventory
                  
       %                              %
                      change        
                 change
1984     2,991,430      4.8     16,440              
   13.6
1985     3,030,970      1.3     19,018                 15.7
1986    
 3,191,058      5.3     22,080                 16.1
1987     3,678,809     1
5.3     23,431                  6.1
1988     4,186,091     13.8     24,669  
                5.3
1989     4,829,950     15.4     22,457                 -
9.0
1990     5,310,992     10.0     23,807                  6.0
 -----------
----------------------------------------------------------
Source: Singapore
 Tourist Promotion Board
 --------------------------------------------------
-------------------
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Pa
ge VI Map (Omitted). Photograph (Omitted). Photograph Water fun, the lagoon 
at the Sentosa island theme park (above, right) which widens the tourist opt
ions (Omitted). </PAGE>
</DOC>

============= Transaction # 124 ==============================================
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<DOC>
<DOCNO>FT921-15886</DOCNO>
<PROFILE>_AN-CAHBJAAPFT</PROFILE>
<DATE>920
108
</DATE>
<HEADLINE> FT  08 JAN 92 / Survey of Kenya (16): Strategies for 
all seasons - Tourism, from potential disaster to mild success </HEADLINE>
<
BYLINE>    By JULIAN OZANNE </BYLINE>
<TEXT>
THE worldwide downturn in touri
sm last year, fuelled by the Gulf crisis, the
international economic recessi
on and the escalating costs of air travel, has
proved a watershed in Kenya.

Kenya's dynamic tourism industry, although faced by the prospect of a severe

loss of jobs and hard currency in what is its biggest foreign exchange
earn
ing sector, has turned 1991 from being a potential disaster into a mild
succ
ess.
The private sector and the government, with cancellations running at up
 to
60 per cent for the peak season of January to March, rallied with a seri
es
of measures.
The boldest move by government was the decision to open up K
enya to South
African tourists, several months before the October Commonweal
th head of
government conference in Harare. Visas, previously denied to Sout
h Africans,
were granted at the airport and an agreement was reached to allo
w South
African Airways and Kenya Airways to operate one flight each a week 
between
Nairobi and Johannesburg.
The government also gave new incentives to
 the hotel training college,
established an autonomous airports authority an
d started the rehabilitation
of Nairobi's international airport and continue
d to strengthen the
newly-created Kenya Wildlife Service, a semi-autonomous 
parastatal in charge
of security and management in Kenya's national parks.
T
he private sector moved quickly, reducing rates and increasing charter
fligh
ts, particularly from Spain and Britain. In August and September there
were 
42 such flights a week arriving in Kenya, each with about 200 seats, in
addi
tion to scheduled flights.
These measures appear to have averted a slump in 
tourist arrivals which in
1990 nearly reached 900,000 people, while foreign 
exchange earnings last
year should approach the 1990 level of Dollars 467m.

Sustaining the remarkable growth which Kenya's tourist sector has enjoyed
si
nce independence will not be easy.
Since 1963 the numbers of visitors a year
 have increased from 110,000 to
889,000 in 1990 and foreign exchange earning
s in the same period have
mushroomed from Dollars 25m to Dollars 467m. In 19
87, tourism overtook
coffee as the country's number one foreign exchange ear
ner.
The impact on the rest of the economy has been vast. Throughout the las
t
decade employment in the sector has grown by at least 5 per cent a year an
d
tourism has contributed to the expansion of the services sector - hotels,

restaurants, road and air transport - and to allied industries such as
const
ruction and food. Much of the rapid growth in tourism in the past
quarter of
 a century has been due to declining costs of air travel and the
extensive i
nfrastructure which was in place at independence.
The government has created
 a reasonably attractive enabling environment
through welcoming foreign inve
stment in tourism, the development of
infrastructure and the maintenance of 
relative political stability.
Increasing importance has been given to conser
vation and better animal
management and while the national parks and reserve
s sector was marred by a
long period of poaching and inefficiency between 19
76-88 it has become a top
priority.
However, with mounting regional competit
ion and the demands of the growing
population a much greater effort is requi
red. In order to continue
generating jobs and increasing critical foreign ex
change earnings the
government has recognised the need to creat a better env
ironment.
Mr Philemon Mwaisaka, permanent secretary in the Ministry of Touri
sm, says
the government is targeting two key areas for growth over the next 
three
years: diversifying the type of tourism available and drawing in visit
ors
from new markets.
Diversification away from game parks and beaches will 
depend on giving
greater importance to attractions such as cultural, confere
nce and
speciality tourism, scuba diving, fishing or mountaineering, and ope
ning up
new areas of Kenya to tourist development such as the volcanic deser
t around
Lake Turkana.
Attracting visitors from outside the traditional mark
ets of the US and
Europe will require a big publicity drive in the Asia Paci
fic area,
particularly Japan and Singapore.
In order to realise both ambitio
ns a overhaul of Kenya's hitherto weak
overseas marketing is necessary. So f
ar the government has been content to
leave most of the marketing to the pri
vate sector. Unlike many other
countries Kenya does not have an autonomous t
ourist board. Between 1986 and
1990 the government spent a mere Dollars 25m 
on marketing.
Kenya's well organised private sector has been lobbying hard f
or a tourist
board to be set up under an autonomous director to launch a con
certed
marketing campaign of research, information gathering and publicity t
o
enable the industry to better tailor and target their products in a
compet
itive market. The government has given its blessing to the appeal but
progre
ss appears slow.
Good marketing and closer links with airlines will be vital
 to attract the
high income from the choosy Japanese market.
Plans for Kenya
 Airways to open up a route to Bangkok next year may prove
insufficient to p
enetrate Asia and South Africa is proving a formidable
competitor with Singa
pore Airlines operating a flight to Johannesburg.
A number of issues need th
e government's urgent attention. Problem areas
include privatisation of gove
rnment share holdings in hotels, developing a
strategy for high income VIP t
ourism, planning how to cope with the growing
demand for combination tourism
 with tourists visiting at least two African
countries, better harmonisation
 of visa and health requirements and more
incentives, such as import duty ex
emption on vehicles for the tourist
sector.
 -------------------------------
----------------------
TOURISM PROFILE
 ------------------------------------
-----------------
         Total              Total     Aver. length
    rec
eipts (Dollars m)   visitors   of stay (days)
1965      30.2              14
7,400       9.3
1970      51.8              326,500       8.8
1980     222.4
              362,700      15.7
1985     239.8              541,200      15.
9
1987     354.9              662,100      16.0
1988     393.3              
676,900      16.0
1989     417.0              729,700      14.2
1990     467
.0 (est)        889,000 (est)  na
 -----------------------------------------
------------
Source: Ministry of Tourism
 ----------------------------------
-------------------
</TEXT>
<PUB>The Financial Times </PUB>
<PAGE> London Pa
ge VIII Map (Omitted). Table </PAGE>
</DOC>

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<DOC>
<DOCNO>FT942-1532</DOCNO>
<PROFILE>_AN-EFWDNAGLFT</PROFILE>
<DATE>9406
23
</DATE>
<HEADLINE> FT  23 JUN 94 / Survey of Korea (12): Island's charm i
s under threat / A look at the impact that market liberalisation may have on
 Cheju </HEADLINE>
<BYLINE>    By JOHN BURTON </BYLINE>
<TEXT>
The beautiful
 volcanic island province of Cheju provides a good example of
the challenges
 that South Korea is confronting in opening its domestic
market to foreign c
ompetition.
Its half-million citizens are debating whether the benefits offe
red by wider
international access will outweigh the disruptive changes cause
d by market
liberalisation.
Cheju, which lies 100 kilometres south of the Ko
rean mainland, will be one
of regions most affected by the relaxation of res
trictions on agricultural
imports under the recent Uruguay round of Gatt.
Th
e threatened decline of the agricultural industry, which has supported the
i
sland for centuries, is accelerating a shift toward international tourism
as
 the province's new economic mainstay.
This is also forcing a change in atti
tudes on the island, which has
traditionally displayed a fierce independence
 to the outside world.
Cheju's tragic history has been marked by frequent re
volts against the
central government in Seoul. Its farmers were mostly freeh
olders, rather
than tenants as in the rest of Korea, which contributed to a 
resentment
against the heavy hand of the central government.
The rebellious 
nature of the island was reinforced by its role as a place of
banishment for
 political exiles until the expiration of the Korean monarchy
in 1910.
The i
sland suffered a mini-civil war in 1948-49, which was a harbinger of
the Kor
ean War of the 1950-53, when the Seoul government adopted a tough
policy in 
reasserting its authority over the island following Korea's
liberation from 
Japanese colonial rule.
An estimated 30,000 persons, about 12 per cent of th
e island's population at
the time, were killed during the insurrection.
The 
island's bloody history has created ambivalent attitudes toward the vast
cha
nges being imposed on Cheju from the outside.
The most significant developme
nt will be the decline of agriculture, which
still accounts for 36 per cent 
of the island's economy.
Cheju's agricultural industry is largely based on t
angerines, which are
grown on small, inefficient and heavily state-subsidise
d farms on the
southern half of the island. The full opening of the Korean m
arket to
tangerine imports by 2004 is likely to lead to a consolidation of l
ocal
farms.
The government, however, hopes to take advantage of the lower tr
ade barriers
promised by the Uruguay round to increase tangerine and other a
gricultural
exports to Japan, which are expected to triple within the next f
ive years to
Dollars 100m.
Cheju is seeking to create a sales network for ag
ricultural products in
Japan and establish direct shipping routes there for 
the quick delivery of
produce.
But these measures are only meant to preserve
 some of island's agricultural
industry and will do little to sustain Cheju'
s economic growth. Instead, the
government is concentrating on inter- nation
al tourism as the key instrument
to revive the island's fortunes.
The natura
l beauty of the island is well-suited to attract visitors. Its
landscape bea
rs more similarities to Europe than to Asia, combining the
volcanoes of Icel
and with the moors of Ireland and the coast of northern
Italy. The push for 
tourism began in the 1970s, when Cheju was developed as
a honey- moon resort
 for Korean couples. It enjoyed a captive market since
overseas travelling b
y Koreans was severely restricted by the government
until the late 1980s. To
urism in the past few years has become the island's
biggest industry, accoun
ting for 40 per cent of the economy.
But the recent easing of travel restric
tions has meant that Korean
newly-weds are now visiting Guam, Saipan and Haw
aii instead. Cheju has
switched its tourism strategy to attracting more fore
ign visitors,
particularly from Japan and Taiwan.
A total of Won7,390bn will
 be invested in Cheju by 2001 to build a series of
resort complexes in an at
tempt to increase tourism by 50 per cent to 5.3m
visitors annually. The emph
asis will no longer be on mass tourism, but on
attracting prosperous individ
ual travellers.
'We would like to build more hotels, sports facilities, aqua
riums, amusement
parks, yacht marinas and casinoes in the hope of making Che
ju the Las Vegas
of Asia,' says Mr Chi Youn-tai, president of the Korean Nat
ional Tourism
Corporation.
The KNTC has already established one resort compl
ex at Chungman Beach and
will participate in the construction of two others.
 The Hanjin conglomerate,
which owns the country's main carrier Korean Air, 
is also planning to build
a resort facility.
The government estimates that i
ncreased tourism by high-spending visitors
will quintuple the size of the is
land's economy to Won7,800bn by 2001.
But the islanders have expressed resen
tment at the development plans. 'Cheju
people are very independent- minded a
nd don't like to be interfered with by
outsiders,' admits Mr Chi. 'These peo
ple sometimes feel that the outsiders
are reaping all the advantages of the 
development and they are left with
little.'
But the conclusion of the Urugua
y Round and its impact on the island's
agricultural sector are changing peop
le's attitudes. 'They now realise that
they have a beautiful place for touri
sm, which will mean their survival.
They are beginning to understand that to
urism is very important,' Mr Chi
explained. Public opposition to the buildin
g of a second golf course on
Cheju, for example, is receding.
But the threat
 remains that extensive development will spoil the island's
con- siderable n
atural charm and destroy the appeal that first attracted
visitors to Cheju.

</TEXT>
<XX>
Countries:-
</XX>
<CN>KRZ  South Korea, Asia.
</CN>
<XX>
Indust
ries:-
</XX>
<IN>P9641 Regulation of Agricultural Marketing.
    P9721 Inter
national Affairs.
    P953  Housing and Urban Development.
</IN>
<XX>
Types:
-
</XX>
<TP>CMMT  Comment & Analysis.
</TP>
<PUB>The Financial Times </PUB>

<PAGE> London Page VIII </PAGE>
</DOC>

============= Transaction # 126 ==============================================
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<DOC>
<DOCNO>FT934-6252</DOCNO>
<PROFILE>_AN-DKYDLAF6FT</PROFILE>
<DATE>9311
25
</DATE>
<HEADLINE> FT  25 NOV 93 / Survey of Turkish Finance and Industry
 (14): Tourism revenue drops - Terrorist attacks frighten off visitors </HEA
DLINE>
<BYLINE>    By SHEILA JONES </BYLINE>
<TEXT>
The lure of cheap holida
ys in Turkey has been severely diminished by this
year's spate of kidnapping
s and bombings by Kurdish separatists.
Visitors to Turkey plummeted from 2.8
m to 2.2m in the peak months of July,
August and September, according to gov
ernment figures. Earnings for the year
are likely to be well below expectati
ons and short of last year's Dollars
3.6bn.
'Terrorism has seriously undermi
ned revenues from tourism,' says one western
diplomat in Ankara. 'The govern
ment had hoped for Dollars 6bn from tourism
this year. That is likely to be 
halved because of the PKK (Kurdish
separatist group).'
Tourism is still one 
of Turkey's biggest single foreign exchange earners.
Last year, the country 
took a 1.3 per cent share of the world's Dollars
279bn income from tourism. 
And the government says it believes earnings will
pick up again next year.
'
I am cautious about this year,' says Ms Ayse Feyizoglu, of the Turkish
touri
sm ministry. 'But in the long run I think the numbers should go on
increasin
g.'
The industry has grown rapidly since the mid-1980s when the government s
et
out to encourage tourism by improving the infrastructure, including roads
,
hotels and airport facilities, particularly along the Mediterranean and
Ae
gean coast.
'In 1987, we had only 65,000 hotel beds,' says Ms Feyizoglu. 'No
w there are
more than 300,000, and facilities for a further 200,000 are unde
r
construction. In the next two to three years, we expect the number of
fore
ign visitors to rise to 10m a year.'
Earnings from tourism rose sharply betw
een 1985 and 1990 as droves of
visitors, mostly from western Europe, took up
 the promise of a cheap and
exotic holiday, with good food and virtually gua
ranteed sunshine.
Between 1985 and 1990 the number of foreigners visiting Tu
rkey jumped from
2.5m to 5.4m, with receipts from tourism rising from Dollar
s 1.5bn to
Dollars 3.2bn.
The rise was interrupted in the aftermath of the G
ulf War, when earnings
dropped to Dollars 2.65bn in 1991. Last year, the num
bers bounced back, with
7m visitors, producing receipts of Dollars 3.6bn.
Ho
wever, up to September this year Turkey had attracted only 5m foreign
touris
ts, against 6.7m a year ago.
The latest figures, coupled with a rising numbe
r of Turks travelling abroad,
undermine government attempts to improve the c
ountry's balance of payments
position with earnings from tourism. An estimat
ed 3.2m Turks going abroad
will reduce the net figure from tourism this year
 by Dollars 950,000. Turks
are expected to spend Dollars 1bn on holidays abr
oad next year.
Ms Feyizoglu says that Turkey is making up some of the losses
 from Europe
with a rising number of visitors from the south-east Asia, in p
articular
from Japan. Last year, nearly 28,000 Japanese tourists visited Tur
key,
according to government figures, against 12,000 the year before.
After 
terrorist attacks on coastal resorts and kidnappings of foreigners,
the gove
rnment has promised greater security at hotels and other holiday
accommodati
on. The slide in earnings has also prompted new minimum
regulations for the 
industry.
Recession in Europe has discouraged visitors from abroad, says Ms 
Feyizoglu.
The number of Germans, who account for the largest group of touri
sts in
Turkey at about 12 per cent, has declined this year by more than 5 pe
r cent.
But officials say terrorist attacks are only part of the problem.
'T
he Germans also fear reprisals after neo-Nazi attacks on Turks in
Germany,' 
says Ms Feyizoglu. 'But no-one here would contemplate such an act
of revenge
.'
Western embassies in Ankara, including those of the US, Germany and the U
K,
are still warning their citizens to steer clear of south-east Turkey,
alt
hough not of the rest of the country.
Yet thousands of foreigners are stayin
g away, for whatever reason, and next
year's official target of 8m visitors 
to Turkey may prove optimistic.
</TEXT>
<XX>
Countries:-
</XX>
<CN>TRZ  Turk
ey, Middle East.
</CN>
<XX>
Industries:-
</XX>
<IN>P7999 Amusement and Recre
ation, NEC.
</IN>
<XX>
Types:-
</XX>
<TP>CMMT  Comment & Analysis.
</TP>
<PU
B>The Financial Times </PUB>
<PAGE> London Page VI </PAGE>
</DOC>

============= Transaction # 127 ==============================================
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<DOC>
<DOCNO>FT943-11956</DOCNO>
<PROFILE>_AN-EG1ANAF7FT</PROFILE>
<DATE>940
727
</DATE>
<HEADLINE> FT  27 JUL 94 / Survey of Tunisia (11): Europeans are
 targeted - James Harding looks at the country's tourism strategy </HEADLINE
>
<BYLINE>    By JAMES HARDING </BYLINE>
<TEXT>
'Tourism in Tunisia is a sun
, sea and sand product,' according to Mr
Mohammed Jegham, minister for touri
sm. 'There is sometimes another 's', but
we do not encourage that, we leave 
it to our tourists.'
So saucy a comment may seem out of place from a ministe
r of a state where
Islam is the dominant religion, but from the representati
ve of a tourism
industry making a pitch for the Mediterranean market it is q
uite
appropriate. Rather than aiming for tourists to Morocco or Egypt, Mr Je
gham
has his sights on people who might go to the Balearics, Canaries or Gre
ece.
Along the coast and on the islands just offshore, purpose-built resorts
 at
Tabarka and Jerba, along with established destinations such as Hammamet,

Sousse and Monastir, offer holiday-makers guaranteed sun, a decent stretch

of sand, soft rock by the poolside, a cuisine blessed by both French and
Ara
b influences, and local wine, all for less than they would get it on the
nor
thern side of the Med.
Tourists appear to be appreciating this. Mr Jegham pr
edicts a record year
for hard-currency receipts from tourism of Dollars 1.3b
n, rising by a
further 15 per cent to Dollars 1.5bn in 1995. The official fi
gures support
his optimism, showing that for the first four months of 1994 t
ourists spent
4.54m nights in Tunisia, up 24 per cent on the previous year. 
Results are
particularly encouraging for the new luxury resorts offering gol
f, sailing,
hunting and diving in addition to the standard indulgences of a 
beach
holiday, with tourism nights up by 48 per cent at Tabarka and 38 per c
ent at
Jerba.
What is significant in a sector which represents only 5-6 per 
cent of GDP
but 20-25 per cent of hard currency receipts, is that Tunisia is
 attracting
more European tourists. In 1993, west European visitors rose by 
17 per cent
to 2.16m, including 712,000 Germans, 448,000 Frenchmen, 246,000 
Britons and
242,000 Italians.
The east European market is also being develop
ed successfully, with numbers
doubling to 70,000 last year, estimated to inc
rease to 100,000 this year,
and predicted to grow to 150,000 in 1995.
It is 
numbers that drive Tunisia's tourism strategy. The pace of
construction sugg
ests that the country will have 200,000 hotel beds by the
end of the century
.
Investment in quantity, which offers regular, bankable receipts, rather th
an
quality, which is notoriously vulnerable to trends in elite tourism, may

seem over-cautious. But Tunisian hoteliers point out that even if five-star

tourists spend a lot, they can also be infuriatingly unpredictable.
Consider
ing the numbers of workers who rely on tourism - Tunisian hotels
employ 60,0
00 people and other linked sectors a further 200,000 according to
the touris
m ministry, not to mention its impact on such sectors as
construction, agric
ulture and services - prudent investment in the more
dependable beach holida
y market promises steady results.
Nevertheless, sun, sea and sand is not all
 that is on offer - for travellers
who interpret Mr Jegham's fourth 's' to m
ean sites, there are several points
of interest. In addition to the Islamic 
sites at Kairouan, the mosaics at
the Bardo museum, and the desert in the so
uth, there are several outstanding
Roman sites.
At El Jem stands the largest
 amphitheatre in Africa visible from five miles
away across the open scrub o
f the Sahel plain. The 30,000-seater was built
in the second century AD and 
despite recurrent attacks and bombardment
against rebels who holed up in the
re over the first 1,000 years of its
existence, it is well-preserved. The de
licate touches in the form of
mosaics, inscriptions and sculpture which are 
noticeably missing from the
theatre itself can be found in the accompanying 
museum.
In the north-west corner of Tunisia, not far from the Algerian borde
r, two
further Roman sites are available for what is, in effect, a private v
iewing.
Dougga, a large provincial Roman town built in AD 168 sprawls across
 a
hillside commanding a view across a broad valley of olive groves,
wheatfi
elds and fallow ground. For an 1,800-year-old site, it feels
strangely lived
-in - the interconnecting dwellings, shops, latrines and
temples recreate a 
sense of the intimacy of the original Dougga community.
The wealthy inhabita
nts of Bulla Regia, which lies above the Mejerda Valley
and 60km north of Do
ugga, chose to build underground rather than on a
hillside exposed to the he
at. They made little allowance in architectural or
aesthetic terms for the i
nconvenience of building beneath the ground - the
villas exhibit classical c
ourtyards, the remains of central fountains and a
few pristine mosaics in si
tu, all in a cool, comfortable environment.
These exceptional sites are larg
ely untroubled by tourists. Development of
the beach holiday package has bee
n at the expense of investment in the
infrastructure for sightseeing. As a r
esult, the benefits of privacy in
'discovering' Tunisia are paid for in the 
costs of transport  - car hire is
extortionate.
With receipts growing at 10 
per cent on the back of Mediterranean business,
there is little reason for t
he enthusiastic and successful Mr Jegham to
redirect Tunisia's tourism strat
egy to invest in roads and buses to the
sites and super-luxury hotels for an
 elite clientele. Until that kind of
investment is made, however, you will h
ave to wake the gatekeeper at Dougga.
</TEXT>
<XX>
Countries:-
</XX>
<CN>TNZ
  Tunisia, 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 VI </PAGE>
</DOC>

============= Transaction # 128 ==============================================
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Usr Interface:   Prob          Time Cmd Sent: Wed Dec 31 16:00:00 1969

  Rec. Format:   Long      Time Cmd Complete: Wed Dec 31 16:00:00 1969

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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 # 129 ==============================================
Transaction #:    129       Transaction Code:  22 (Record(s) Saved)        

  Terminal ID:     64       Z39.50 Server ID:  19 (TREC)                   
   Session ID:      2   New Z39.50 Server ID:   0 (Astro/Math/Stat)        
                        Old Z39.50 Server ID:   0 (Astro/Math/Stat)        

Usr Interface:   Prob          Time Cmd Sent: Wed Dec 31 16:00:00 1969

  Rec. Format:   Long      Time Cmd Complete: Wed Dec 31 16:00:00 1969

Selec. Rec. #:     26

Boolean Indexes Used:

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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>