In 2019, international tourist arrivals reached 1.5 billion, a 4% increase over 2018, consolidating a ten-year record where tourism grew faster than the world economy as a whole. Domestic tourism added a further 8.8 billion arrivals. The sector generated $1.5 trillion in exports and employed one in ten people directly or indirectly.
Tourism came to a standstill in mid-March 2020. International tourist arrivals decreased by 56 per cent in the first months of the year, with numbers in May down by 98 per cent. This translates into a loss of nearly $320 billion in exports – over three times what was lost during the whole of the 2009 global economic crisis.
Continue reading “World Tourism Day 2021: How COVID-19 has Impacted the Economy”
The World Tourism Day is being celebrated on 27 September 2021. Tourism is one of the world’s most important economic sectors. It employs one in every ten people on Earth and provides livelihoods to hundreds of millions more. For some countries, it can represent over 20 percent of their GDP.
It allows people to experience some of the world’s cultural and natural riches and brings people closer to each other, highlighting our common humanity.
Continue reading “World Tourism Day 2021: Roadmap to Transform Tourism by Tackling 5 Priority Areas”
A unanimous approach can eliminate the two factors hindering the growth and development of entrepreneurship in the world.
There will always be challenges in any entrepreneurial activity since entrepreneurship at its core is meant to address the pressing and hard-to-resolve issues of the market. However, some markets are known to have inherent challenges that come in the way of aspiring entrepreneurs even before they can dream of building a successful startup. It is often hard to overcome such limitations, but not impossible. The two factors mentioned below explore the intrinsic issues faced by aspiring entrepreneurs and their implications on the development of entrepreneurship in the country.
Continue reading “Environmental Factors Preventing Aspiring Entrepreneurs From Becoming One”
Today, we celebrate the World Entrepreneurship Day. Globally, entrepreneurship is holding stronger roots in the mindsets of people. According to the Global Entrepreneurship Monitor Report 2020-21, in 32 out of 43 economies, more than half of the respondents intended to open a new business despite the pandemic.
The growth of entrepreneurship worldwide appears as a golden time for importing countries to try and turn the tables or become self-reliant. Mauritius is one such country, and this article highlights the three main factors that prevent Mauritians from reaping the long-term benefits of entrepreneurship.
Continue reading “3 Factors Preventing Mauritians From Becoming Entrepreneurs: World Entrepreneurs Day”