Headlines:
| Chastanet predicts significant layoffs in sector |
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| Monday, 17 November 2008 | |
 St
Lucia's Tourism Minister Allen Chastanet
says there could be significant layoffs in the tourism sector unless the global
economic situation improves soon.According to Mr. Chastanet, while the Caribbean had not yet started to feel the full effect of the United States recession worse could be coming, as advanced bookings from April 2009 onwards are down by 30 to 50 per cent. He cited the layoff of about 800 workers at the Atlantis Hotel in the Bahamas as an example of where things may be headed, not only for St. Lucia, but the entire Caribbean. Tourism officials in St Lucia are currently meeting with the Ministry of Finance to determine what could be done to reduce their operating costs, to give them a fighting chance. The Tourism Minister said experts have predicted that the current situation in the global economy could last for two years. |