Latin American banks pioneering digitalisation of trade finance

By Olivier Paul, Head of Policy at the Banking Commission Paperless trade is the future of trade finance. At least that is one of the key takeaways from the ICC’s 10th Global Survey on Trade Finance, with results indicating that over 60% of respondents are moving towards further digitalisation of their trade finance offerings. Encouragingly, the survey, which gathered thoughts from 251 banks in 91 countries, included its highest participation rate from Latin American banks. Some 12% of participants are based in the region, up from only 8% participation in the previous year’s report. Results from the region were particularly compelling, with a clear focus on the development of digital trade and emerging technologies, despite the new challenges this transformation […]


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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 […]