29 Jan 2009

CNMI stands to lose million of dollars in economic opportunities this year

11:05 am on 29 January 2009

The Northern Mariana Islands stands to lose 108-point-9 million US dollars in economic opportunities this year as a result of the federalization of immigration this June and the loss of the Russian and Chinese tourists.

According to the Marianas Visitors Authority chief, Perry Tenorio, this loss was the estimated losses from Russia and China markets is just for six months.

But if you roll it out for a year, we're looking at 184 million US dollars in economic losses annually.

He told the Saipan Tribune it may take Department of Homeland Security 12 to 18 months before it can establish the necessary security protocols for the Russia and China markets.