OPEC+ delays technical meetings to review market conditions | Arab News

MADRID: The coronavirus pandemic will cost the global tourism sector $2.0 trillion in lost revenue in 2021, the UN’s tourism body said Monday, calling the sector’s recovery “fragile” and “slow.” The forecast from the Madrid-based World Tourism Organization comes as Europe is grappling with a surge in infections and as a new heavily mutated Covid-19 variant, dubbed Omicron, spreads across the globe.

In addition to virus-related travel restrictions, the sector is also grappling with the economic strain caused by the pandemic, the spike in oils prices and the disruption of supply chains, the UNWTO said.

A further 55 have their borders partially closed to foreign visitors, while just four nations have lifted all virus-related restrictions — Colombia, Costa Rica, Dominican Republic and Mexico.

The number of mobile phone transactions continued its expansionary trend, recording a monthly increase of 1.9 percent to hit 179 million transactions in October.

Al-Ississ said that the government had increased its local revenues last year without raising taxes through a rare campaign to combat tax evasion and by a major restructuring of the tax and customs administration that ended exemptions.

The Kingdom’s fleet is experiencing rapid growth, and the addition of the new tanker is an important step in supporting business growth through developing marine capabilities and expanding shipping lanes in energy supplies to global markets.

“The Public Transport Authority will continue its endeavors and exert more efforts to enhance the logistics sector and national transport, especially maritime, and contribute to consolidating the Kingdom’s leading position on the map of shipping and global marine supply chains,” the body said in a statement.

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