Argentina´s tourism industry is projected to generate $ 3.5 billion dollars in 2006, the country´s tourism minister said. “The (2002) devaluation provided a huge boost for the Argentine tourism sector, especially to attract tourists from neighboring countries,” Tourism Undersecretary Daniel Aguilera said as he explained where this 15.6 percent increase over last year´s figure will come from. According to him, last year was the first time that Argentina broke the negative flow, with more tourists arriving than those holidaying abroad.

The outlook for the global hospitality industry remains positive for 2006, according to Ernst & Young LLP´s latest global activity report on hospitality industry trends. The report forecasts strong operating performance growth worldwide, with China and India leading the pack. “We are seeing major international hotel companies push ahead in emerging markets, such as China, India, and Eastern Europe, with new development programs aimed at establishing strong footholds in those fast growing geographies,” said Michael Fishbin, leader of Ernst & Young´s hospitality advisory practice in the United States.

A new report from the Association of Exhibition Organizers (AEO) estimates that the economic impact of the UK exhibitions industry is considerable, generating around GBP 9.3bn in expenditure in 2004. Certainly the industry, both conferences and exhibitions, had a very good year in 2004. It is estimated there will be growth across the two sectors at 45% over 2003. Although there is some convergence between exhibitions and conferences (both of which are increasingly described as `events`), with more conferences and exhibitions pertaining to specific vertical sectors running alongside each other, data collected from organizers and venues tend to be reported separately. For this reason, this report examines the industry in terms of exhibitions and conferences, both of which performed well in 2004.

“Airlines have lost $42 billion since 2001 and we expect another $4 billion in losses again this year. Something is wrong with the air transport industry,” said Giovanni Bisignani, Director General and CEO of the International Air Transport Association at the opening of the Second IATA/Asian Aerospace Aviation Summit. “While Asian passenger traffic is expected to grow at 6.5 percent and cargo at 8.5 percent each year until 2009, growth is not profitability. Some of Asia´s carriers are among the industry´s most profitable, yet the average margin is 2 percent, far from the 7 to 8 percent needed to cover the cost of capital,” Mr. Bisignani noted.

Space Adventures, Ltd., the world´s leading space xperiences company, announced today its plans to develop a commercial spaceport in Ras Al-Khaimah (the UAE), with plans to expand globally. Other potential spaceport locations include Asia, specifically Singapore, and North America. The total estimated cost of the global spaceport development project is at least $265 million (USD) and will be funded by various parties, along with shared investments by Space Adventures and the government of Ras Al-Khaimah.

A bird flu pandemic could wipe $4.4 trillion off the global economy and kill 142 million people, according to a worst-case scenario report by Australian academics. The study by the independent policy organization –the Lowy Institute- found that even a mild pandemic could have significant consequences for global output, costing the world 1.4 million lives and approximately $330 billion. This is close to 0.8 percent of global gross domestic product.