Ecuador elections: a poisoned chalice?

The incoming government will face a steep fiscal adjustment and increased civil unrest.   By LT Staff Ecuador remains in limbo following elections on Sunday, as no candidate has yet cleared an outright majority, or the 40 percent plus 10 percentage point margin of victory needed to declare a first round victory. The electoral council has said they will not make an official announcement on the results or the possibility of a second round until Thursday. But whoever wins the election – whether that is Lenín Moreno of the left-wing Alianza País in a first round, or Guillermo Lasso of the right-wing Creando Oportunidades –  faces an uphill battle says Mark Keller, the analyst for Ecuador at The Economist Intelligence […]

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Global Tourism Industry on Track for Full Recovery by 2024

The global tourism industry is set to reach, and possibly surpass, pre-pandemic levels by the end of 2024, according to the World Economic Forum (WEF). Five years post-COVID-19, the sector is experiencing a robust resurgence driven by a surge in international travel, improved air connectivity, and strong rebounds in key regions. However, global dynamics must be managed carefully to ensure stable and continuous growth. In 2023, international tourism reached 88% of its 2019 levels, a significant recovery favored by the reopening of Asian markets, as highlighted by the United Nations World Tourism Organization (UNWTO). The Middle East led the way, surpassing pre-pandemic levels by around 20%, with Europe, the Americas, and Africa following close behind at approximately 90% of their […]