The Malaysian Insider, 3 Dec 2008
SINGAPORE, Dec 3 — Recession in major economies around the world has hit Southeast Asia's pivotal tourism industry, but increased domestic and regional travel by cash-squeezed travellers based in Asia means some countries will be hurt less than others.
Governments around the region are cutting forecasts for income as both long-haul tourists and business travellers get increasingly cost-conscious. That is a problem because tourism accounts for a hefty 6 per cent or more of most economies in Southeast Asia.
Still, some low-cost countries with attractive tourist spots and large homegrown populations should lose out less.
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