Colonial Zone feels slump

[NewsWhore]

Retailers in the Colonial Zone say that sales have dropped by a whopping 80% in recent months and that they have not felt the fruits of the current tourist high season. They claim that fewer tourists are visiting the Zone's museums and monuments. Some vendors believe that high taxes on small businesses and the high crime levels in the Colonial Zone are partly to blame for the decrease in shopping. A recent Central Bank report indicates that while overall tourism on an annual basis was up by 2.1% in 2008, tourist arrivals decreased by 27.6% in November. Some vendors, interviewed in Hoy, say that the cruise ship industry has helped to reactivate business, but that it hasn't been enough. Other vendors believe there are too many businesses selling the same products, which affects competitiveness, and that tourist packages run by large tour operators are monopolized, also hurting sales.

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