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Wednesday 29 December 2004

Quake's economic costs emerging - BBC

In Sri Lanka, some observers have said that as much as 1% of annual growth may be lost.

For Thailand, that figure is much lower at 0.1%.

Thailand's Prime Minister Thaksin Shinawatra has estimated the destruction at 20bn baht ($510m).

"In three months, we should rebuild 70% of the damage in the three worst hit provinces," said Juthamas Siriwan, governor of the Tourism Authority of Thailand.

The outlook for Sri Lanka is less optimistic, with analysts predicting that the country's tourist industry will struggle to recovery quickly.

Tourism is a vital to many developing countries, providing jobs for 19 million people in the south east Asian region, according to the World Travel and Tourism Council (WTTC).

Source: BBC

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