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Kuwait 2nd largest investor in Swiss hotels |
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News -
Business News
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Thursday, 22 October 2009 00:10 |
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Hotellerie Suisse revealed on Wednesday size of foreign investments in the tourism sector, with Kuwaiti enterprises ranking second with USD 100 million worth of businesses among Gulf companies.
Qatari companies investments are worth USD 390 million and Saudi companies, USD 80 million, according to the federation of the Swiss hotels. Gulf investments focused in the Swiss tourism sector, building, renovating and expanding luxury hotels in Geneva, Bern Alps and the highlands of Sentral and South of Switzerland. Thomas Allemann, a member of Hotellerie Suissem, forecast an increase of the investments in the tourism sector, based on the annual report of the Research Economic For Institute (BAK-BASEL), which forecast the hike at four percent over the next five years. Allemann said in a statement to KUNA that investments in tourist resorts, villas and chalets amounted to USD 3.5 billion dollars so far this year. - Kuna
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