Corporate Latin America: What to expect in 2021

How will key corporate sectors in Latin America perform this year? Airlines, agribusiness, technology, telecommunications, Oil & Gas, petrochemicals. A view from the world’s largest credit rating agencies. They spoke at the Latin Trade Week, last November. Economy-wide Thanks to the support of governments and the financial sector, the crisis in Latin America was far less damaging than what could have been. There was ample financing and no major currency mismatches to complicate the situation. Nevertheless, it will take many years to get back to 2019 credit quality. At the beginning of the crisis, S&P estimated that 10% of Latin American firms could default in 2020. At the end of the year, the ratio has not reached 4%. This shows […]

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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 […]