Trade: getting ready for when the next crisis hits

By Arancha González, Executive Director, International Trade Centre Earlier this month, the World Trade Organization (WTO) slashed its trade growth forecast for 2019 to the lowest level in three years.  This followed similar warnings from the International Monetary Fund and the Organisation for Economic Cooperation and Development. The uncertainty generated by global trade tensions is contributing to the slowdown. And while unilateral tariff moves have been confined to a few countries, most economies are affected in one way or another. Even if the first quarter of 2019 has provided some good economic news for Latin America, the region will not escape the slowdown in the global economy and trade. Latin American leaders are committed to using trade to drive growth and development,  as demonstrated by […]

Related

“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 […]