Taxes: the wrong turn

Latin America has the wrong tax structure to deal with inequality. Here are four facts you should know. Fact 1.Latin America has the wrong tax structure to deal with inequality – The Latin American tax structure is characterized by its heavy reliance on value added, sales and excise taxes (gasoline, tobacco, alcohol). The region gets 50% of its total revenues from taxes levied on goods and services. Taxes on income, profits and capital gains are only 28% of total revenues. – In the OECD, the sources of fiscal revenues are more balanced and more equitable, since value added taxes (VAT) tends to be more regressive than income taxes. In OECD countries, 32% come from taxes on goods and services (VAT, […]


Nature’s Currency: How Biodiversity Credits are Reshaping Conservation

By Victoria Galeano* Imagine sipping your morning coffee in a...

“Latin America, the vision of its leaders” A book by Andrés Rugeles and 100 regional leaders

The Colombian Andrés Rugeles has achieved an almost impossible...

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 […]