Turkey has successfully raised $3.5 billion through its largest-ever single bond sale, marking a significant step in its economic recovery plan. This move aims to restore investor confidence after years of unconventional economic policies. The sale involved a swap of existing debt, indicating Turkey’s commitment to fiscal responsibility and a new economic direction.
Sri Lanka heads to the polls on September 21st in a crucial presidential election, where voters will choose their next leader tasked with steering the nation through a fragile economic recovery. The election is a tight three-way contest between incumbent President Ranil Wickremesinghe, main opposition leader Sajith Premadasa, and Marxist-leaning challenger Anura Kumara Dissanayake. The election comes amidst a backdrop of economic challenges and a renewed focus on democratic resilience.
Sri Lankans head to the polls on Saturday to elect a new president, facing a tight race between incumbent Ranil Wickremesinghe, main opposition leader Sajith Premadasa, and Marxist challenger Anura Kumara Dissanayake. The election comes amidst a fragile economic recovery following the country’s worst financial crisis in decades, with high cost of living and poverty remaining key concerns for voters. The winner will inherit the task of steering Sri Lanka through the IMF bailout program and navigating the country towards a stable economic future.
Canada’s hotel industry experienced a surge in August 2024, achieving record-breaking occupancy rates that surpassed pre-pandemic levels. Nova Scotia led the way with the highest occupancy, while Vancouver topped major markets. This positive trend signifies a robust recovery for the tourism sector.
The Americas witnessed a remarkable tourism rebound in 2024, with several countries experiencing record-breaking international visitor arrivals. El Salvador led the pack with an 81% increase, followed by Curaçao and Colombia. The resurgence is attributed to eased travel restrictions, increased air connectivity, and strategic tourism campaigns, highlighting the region’s resilience and attractiveness in the global travel landscape.
Sweden is eliminating its airline ticket tax starting in mid-2024, aiming to lower travel costs, stimulate air travel demand, and enhance airline competitiveness within the country. This move is expected to benefit the aviation and tourism industries, contribute to economic recovery, and potentially attract more international businesses and tourists.
Detroit, once known for its urban decay and financial struggles, is experiencing an unexpected real estate boom, attracting investors seeking high returns on low entry costs. Despite challenges like crime and the need for renovation, the city’s revitalization efforts, driven by major players like Dan Gilbert and Ford, are reshaping Detroit’s skyline and attracting new residents and businesses.
China’s summer travel season, from July 1st to August 31st, saw a remarkable surge in domestic and international tourism, reflecting a robust economic recovery and a growing appetite for travel experiences. The influx of visitors fueled a tourism boom, with a significant increase in bookings and visitor numbers, highlighting the appeal of diverse destinations across the country.
The Port of Oakland has experienced a steady rise in container volume, driven by a surge in import activity. The port’s strategic improvements and focus on sustainability position it as a key player in international trade and economic recovery.
Sri Lanka has announced a free visa policy for citizens of 35 countries, aiming to revitalize its tourism sector after recent economic hardships. This initiative is expected to boost tourist arrivals and contribute to the country’s economic recovery.
