Quote:
Originally Posted by fimiak
I kind of think that considering how messed up N Korea is, it must have been a very rewarding feeling to be one of the people responsible for finishing this building. It was estimated by the Japanese that at one point the construction of this building accounted for 2% of North Korea's GDP. I can't even imagine how a government could have thought that spending 2% of the entire countries earnings on a single hotel was a good idea.
I dont even consider N Korea to be communist anymore. It is more like personality driven fascism on top of songun 'military first' ideology.
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America spent around .75% of GDP on the Apollo project. It is debatable which was the better investment.
At the time this building was being built, tourism was on the rise and a landmark hotel might have had a good projected return on investment. As compared to other economic development projects that could have been undertaken by NK, tourism promotion was quite logical. Competing in manufacturing or services would have been difficult. That leaves few other options. Unfortunately for NK, tensions worsened and tourism dropped off, leaving them with a building that would have to be repurposed to be useful.