From 1986 to 1992, the number of hotel rooms there rose from 2,776 to 7,103, a growth of more than 150 percent. However, as we have witnessed, this experience is not without its risks to fiscal sustainability. Alternatively, governments could stimulate cooperation between the public and private sectors to share investment costs, risks, responsibilities, and profits generated from tourism projects.
The research findings are widely known: in the euro area, retail banking markets remain predominantly local. Apart from geographical barriers, there are many other reasons for cross-country interest rate differentials, such as economic, structural and institutional factors. These factors relate, for example, to differences in regulation, competition, bank-customer relationships and the overall development of the financial system.