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The prediction is one of the few bright spots in the generally gloomy report, which forecasts a decline in the United States' world dominance.
Tourists spent 4% less in Egypt last year compared with the year before, according to the WTTC, which forecasts a further 4% fall in 2016.
The credit crunch will soon become a distant memory, according to the first authoritative report which forecasts a bounce back in house prices.
Those three companies, as well as a few second-tier players and numerous smaller competitors, are expected to collectively generate a total of more than $300 million in revenue this year, according to Jupiter Research, which forecasts a $400 million market next year.
The I.E.A., which is part of the Organization for Economic Cooperation and Development, based its main forecasts on the growth assumptions of the International Monetary Fund's World Economic Outlook from April, which forecasts a return to 5percentt annual economic growth by 2012.
The I.E.A., which is part of the Organization for Economic Cooperation and Development, based its main forecasts on the growth assumptions of the International Monetary Fund's World Economic Outlook from April 2009, which forecasts a return to 5percentt annual growth in world gross domestic product by 2012.
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"It would have been hard for the season to be worse than last year's," said the National Retail Federation, which forecasts an overall 5.7% gain this year.
General Motors, which forecast a big quarterly loss, fell 16.7percentt.
The announcement by the Times Company followed a cautionary statement two weeks ago from another big newspaper company, Knight Ridder, which forecast a "modest" decline in first quarter earnings.
He said that shares of STMicroelectronics and Infineon — which forecast a rise in second-quarter sales and operating profit on Thursday — got a lift "because some investors may be hoping to get in on the upswing in the semiconductor cycle".
It is a view shared by the real estate agency Knight Frank, which forecast a further 5 percent increase in prices for prime property next year as increasing numbers of buyers try to flee economic turmoil, bringing their money with them.
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