downturn, remittances from Lao people living in developed countries and from Lao migrant labor in
neighboring countries will decline. Remittances from abroad are a significant source of income and investment
for families. Fourthly, the GFC affects tourism, one of the most important industries in Laos. In 2008, 1.6
million tourists came to Laos, generating an income of about US$233 million (LNTA, 2008). With the ongoing
GFC, the number of tourists will decline.
ongoing mining and hydropower projects will be suspended and delayed. Thirdly, during the global economic