“Countries in Latin America and the Caribbean may face no choice but to live with the virus, perhaps for several more years”: World Bank

“Countries started the fight against the pandemic in the spirit of a sprint. But after nine months since the first Covid-19 outbreaks they seem to be gradually drifting into a marathon,” it is the diagnosis that the World Bank makes on its Latin America and the Caribbean Semi-Annual report. Broad-based social transfers may be needed for the time being. However, going forward governments in the region may need to consider paths to fiscal consolidation, the report suggests. This implies focusing spending on protecting the most vulnerable and in the creation of new jobs, service delivery, and infrastructure. Key takeaways The positive side International developments have been less unfavorable than could have been anticipated six months ago. Global trade in goods […]

Related

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 […]