Innovation: Lessons from Grupo Alfa

Principles and methods of the Mexican conglomerate. Interview with the group’s VP of Innovation. Alfa Group is no lightweight. At $15.8 billion in revenues, it’s one of the 20 largest companies in Latin Trade 500 ranking. With 130 plants in 28 countries, and 81,000 employees, it is also one of the largest global Latin American companies. Innovative? “The Alfa Group has always been innovative,” Corporate Vice President of Innovation and Sustainability, Erich Meyer, told Latin Trade. “Ever since Hojalata y Lámina (one of the conglomerate´s founding companies) developed and patented sponge iron bars, which allowed lighter concrete structures to be built.” Nemak, an affiliate company which specializes in manufacturing of aluminum components for the automotive industry, especially cylinder heads and […]

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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 […]