“Millennials are The Least Entrepreneurial Generation Ever”

How the U.S. explains its problem of lessened productivity amid a technology revolution. “We can see innovation everywhere but in the productivity statistics.” This sentence that paraphrases economist Robert Solow, is by now a common observation in Washington, D.C. In the United States, policymakers worry about the fall in their national productivity. Despite its recovery in 2017, it is still performing well under par by historical standards. Productivity change in the nonfarm business sector, 1947-2017 Source: U.S. Bureau of Labor Statistics The government has an explanation. They claim that invention has grown at a speedy pace, but it has not diffused to firms. This disconnect, in turn, is related to with the lack of entrepreneurial spirit. New firms are not […]

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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 […]