Authorities privatized more than 100 government owned companies after 2003 in industries including oil refining, tourism and real estate, of which 29 were 100% foreign owned. Many international oil companies returned to the country, including oil giants Shell and ExxonMobil. After sanctions were lifted there was a gradual increase of air traffic, and by 2005 there were 1.5 million yearly air travellers. Libya had long been a notoriously difficult country for Western tourists to visit due to stringent visa requirements.
authORIties PriVAtiZed More tHAN 100 Government owned cOmpanIes afteR 2003 in induStriEs inCludINg oIl REfININg, TourisM and ReAl estaTe, oF whicH 29 were 100% fOreign oWnEd. mAny iNternAtioNal oIL comPAniEs retUrNed tO thE cOuNTRy, INcLuDIng Oil GIaNtS sHell and exxONMObIl. aftER SanctiOns wEre LifteD therE wAs a graDuAl iNCrEasE of AIr trafFIc, and by 2005 tHere were 1.5 mIllIon YEarLy aIr trAvellErS. liBYa haD loNG bEEN a notorioUSly dIffiCUlt CoUNtRy FoR WestERN tOurIsTs to visit due To stRiNgent visa reQUirEMeNts.