THE hospitality sector contracted by 4.5 per cent last year due to tourism's poor performance brought about by insecurity and stiff competition.
According to the Economic Survey 2014, the sector reversed a 2.6 per cent growth recorded in 2012 as one of tourism's most resilient segments - meetings, incentives, conferencing and events - registered its first drop in three years. The gradual rise in performance of conference tourism was halted last year as number of conferences and delegates hosted dropped, dealing a blow to the MICE segment.
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