Latest Book Releases from C9 Hotelworks' Bill Barnett
C9 Hotelworks Founder and Managing Director Bill Barnett is a noted columnist, author and leading authority on travel trend, hotels and property.View all the books from C9
For Asian's the current Iraq crisis seems a world away, but in a global world that links around the world, external events continue to create domino a effect.
One key insight of the Iraq situation is that the country is OPEC's number two ranked oil supplier. Any disruption in supply can have a profound impact on broader oil prices.
Crude oil prices are already set to breach USD110 a barrel, and in the case of a long-term conflict could eclipse USD140.
For tourism oil prices drive airline seats up in cost and for hotel developers construction costs for new properties rise.