Spend better, not more, on infrastructure, says World Bank

Interview with Jorge Familiar, vice-president for Latin America and the Caribbean at the World Bank Insufficient infrastructure remains one of the main impediments to Latin America’s economic growth and development. Estimates put the infrastructure gap at $180 billion a year. However, at present the region devotes just 3 percent of GDP to infrastructure, compared to 4-8 percent elsewhere in the developing world. However, highlighting a recent report from the World Bank, Jorge Familiar, vice-president for Latin America and the Caribbean at the World Bank tells Latin Trade that the region can make a great deal of progress by prioritizing specific projects. “Instead of simply identifying the value of the gap, the region needs to ask what services need to be fulfilled, identify the priorities, and embark on […]


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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 […]