Saturday, March 14, 2009

Global voices tackle the economic crisis

Mong Palatino, a Filipino currently living in California, has produced the first of two posts for Global Voices on the global economic crisis, Global recession and its discontents

This post is an attempt to describe the social impact of the great financial crisis as seen and felt by ordinary citizens around the world.

The most commented signs of the crisis are the Wall Street crash and the collapsed housing industry in the United States. Without belittling these unfortunate economic disasters, we should also highlight other symbols of the crisis which people around the world are witnessing and experiencing everyday.

For example, the economic downturn is forcing many South Koreans to change or abandon their travel plans. This has affected the tourism industry in Brunei which is a favorite destination of many South Koreans. Because of declining number of global tourists, Egypt’s tourism workers are complaining that their salaries are not given on time.

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1 comment:

Canada Life Insurance said...

Nice article, unfortunately every crisis has a social impact on people. People are not able to afford what they used to and they stop spending money on unnecessary things. Something that drives the crisis and makes it worse and worse. Tourism went down in every region on earth, people just can't afford to take vacations and days off work. good news for people who are not touched by the crisis though, cheap traveling for them, lucky.

Take care, Lorne

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