Mexico’s tourism sector is set to receive a major boost after announcing visa-free access for citizens of 66 countries, effective December 21, 2024. This move is expected to significantly increase tourist arrivals and stimulate economic growth across the nation, benefiting various sectors and promoting sustainable tourism initiatives.
Outbound travel from Uzbekistan surged by 31.3% in the first 11 months of 2024, with nearly 5.7 million citizens traveling abroad. Neighboring countries remain popular destinations, but there’s a growing interest in farther locations like Egypt and South Korea. This increase signals positive economic growth and a more globally connected Uzbekistan.
China’s central bank kept its benchmark lending rates unchanged, maintaining the one-year LPR at 3.1% and the five-year LPR at 3.6%. This decision contrasts with the recent US Federal Reserve rate cut and reflects China’s cautious approach to stimulating economic growth while managing a weakening yuan. The move impacts corporate and household loans, along with mortgage rates.
India’s tourism sector flourished in 2022-2023, setting records in employment (76.17 million jobs), foreign exchange earnings (USD 28.07 billion), and tourist arrivals (both domestic and international). The country’s global tourism ranking also improved significantly, highlighting the sector’s vital contribution to India’s economy.
A YouGov poll shows 80% support for London Gatwick Airport’s expansion among residents of Sussex, Surrey, Kent, and Croydon. The expansion promises a £1 billion annual economic boost and 14,000 new jobs. Support was particularly strong among younger demographics. The plan is currently under government review.
The stock market experienced a downturn after the Federal Reserve’s decision to lower interest rates less aggressively than anticipated. Investors had expected more significant rate reductions, leading to sell-offs in major indexes. The Fed’s cautious approach reflects concerns about inflation, while expert opinions vary on the market’s reaction.
China has significantly relaxed its visa-free transit policy, allowing citizens of 54 countries a 10-day visa-free stay. This move, effective December 17, 2024, aims to boost tourism and business, following a substantial increase in foreign visitors in 2024. The initiative underscores China’s commitment to reopening its borders and fostering economic growth.
India’s highway construction projects are facing delays, impacting economic growth. Land acquisition, regulatory hurdles, and funding challenges are key factors. The government is working on solutions, including streamlining processes and exploring public-private partnerships, to speed up the projects and boost economic activity.
Morocco’s tourism sector thrived in 2024, with nearly 16 million visitors by November, a 20% increase. Marrakech leads as a top destination. The sector contributes 7% to Morocco’s GDP, generating €9.2 billion in revenue. Growth is projected to continue with major events like the 2025 Africa Cup of Nations.
A new report reveals India’s remarkable corporate strength, ranking second globally in the number of companies achieving over 20% return on equity (ROE) for more than a decade. This robust performance, driven by consistent book value growth and resilience during economic crises, underpins India’s exceptional stock market performance and solidifies its position as a global financial powerhouse.
