BIZweek n°305 28 aoû 2020
BIZweek n°305 28 aoû 2020
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  • Parution : n°305 de 28 aoû 2020

  • Périodicité : hebdomadaire

  • Editeur : Capital Publications Ltd

  • Format : (260 x 370) mm

  • Nombre de pages : 8

  • Taille du fichier PDF : 2,0 Mo

  • Dans ce numéro : Maurice sur la liste noire de l'Union Européenne.

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VENDREDI 28 AOÛT 2020 BIZWEEK ÉDITION 305 IMF BLOG COVID-19 and tourism Estimated direct impact on 2020 curent account baianceL (percent el GOP). 4.16 BIZ ALERT Tourism Trauma and COVID-19 Pandemic-related lockdowns, flight cancellations, and border closures may be putting a crimp on summer vacation plans. However, the precipitous drop in tourism will have an outsized impact on countries that rely on foreign travelers—with potentially large-scale effects on their economies’national accounts Costa Rica, Greece, Morocco, Portugal, and Thailand could be among the hardest hit with losses in tourism proceeds exceeding 3 percent of GDP, according to the IMF’s recently released 2020 External Sector Report. A country’s current account balance is a measure of its total transactions—which includes but is not limited to trade in goods and services— with the rest of the world. For some economies, a drop in tourism (which is considered an export) could have an impact on overall current account balances. For example, in Thailand, a decrease in tourism due to COVID-19 could bring the country’s overall exports down by 8 percentage points of GDP and have a direct net impact of about 6 percentage points of GDP on its current account balance in 2020. That could erode part of the 7 percent overall current account surplus the country had in 2019. Larger direct impact for smaller states makes searching simple 1111 111111111111111 I 1-111111 II Ill 111 empare en reparuxnp,r.ET imeed.e enfeeet un./rere ee,een. iginngeegeggeeepenneffle.geallifegeg leleed ! limier. Wald% N., C66.e.on, 11.11 Elfe neet[1[6 und l/dr tuf) [Caillement./Me the ken.. leperre 11,1. es1.66,erlsbrect Hm «. on tenPni ece6enlm 05meden Ihe lunaire.61.1NW10 12020) gere.nlee Llpeeneer 2028. 2.1P1.5.1. eut L'urne:1one 0,annalTE Ip Sieneeeteuie FISC) toue:, [odes. The outlook for smaller, tourism-dependent nations is even more stark. This chart and the External Sector Report’s focus on medium to large economies, but, under the same scenario, some smaller states especially reliant on tourism could see a dramatically larger direct impact on their trade and current account balances. Still, the overall effect a decline in tourism will have on current account balances may be less than these projected direct impacts foretell. Smaller, tourism dependent countries and even larger economies with a large tourism industry may see offsetting indirect effects. For example, smaller nations with less domestic resources often rely on more imports to support their tourism industries. A drop in tourism exports and the economic activity that it drives, both directly and indirectly, will lead to a corresponding drop in imports—lessening the overall impact on the current account balance. INTERNATIONAL MONETARY FUND Much is stillunknown about the pace of tourism recovery in 2020. Peoples’desire and ability to travel abroad may continue to face headwinds going into 2021 due to the ongoing pandemic, leaving an uncertain outlook for tourism industries in economies both big and small. Official online directory of Mauritius Telecom Business People COMESA SG NamedAmong 100 Most Influential African Women for 2020 Secretary General Chileshe Kapwepwe has been namedamong 100 Most Influential African Women on the continent for the year 2020. The Award given by Avance Media, a leading African Public Relations and Rating Firmis a recognition for women who are leading various initiatives across the continent and seeks to present them as role models for the younger generation. « They were selected because of their incredible achievements as women and they deserve high recommendations among other female trailblazers in Africa » said Prince Akpah, Managing Director of Avance Media. Criteria for selection included excellence in leadership and performance, personal accomplishment, commitments to sharing knowledge, breaking the status quo and being an accomplished African woman. Chileshe Kapwepwe is the first female to be appointed as Secretary General of COMESA in its 26 years of existence. 3

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