Nepal's political crisis returns with no end in sight

Significance The withdrawal is unlikely to bring the government down, but the ongoing constitutional crisis risks a return to the civil violence seen in the Terai region in late 2015, which resulted in over 40 fatalities. Impacts Nepal’s political gridlock will impede the actualisation of Chinese and Indian investment pledges. Economic growth is likely to falter in 2017, while post-earthquake reconstruction is still incomplete. A return of violence would damage Nepal’s tourism industry, but probably only temporarily.

Subject Cuba tourism challenges. Significance The US State Department in March reduced tourist visas for Cuban nationals, in a further sign of cooling bilateral relations. Under US President Donald Trump, several confidence-building bilateral measures introduced under former President Barack Obama have been rolled back, with limits on tourist visits and investment in Cuba by US firms reinstated. This is set to have a major impact on the tourism industry, one of the main drivers of Cuba’s economic growth and a key sector for investment by US companies. Impacts The Venezuela crisis will exacerbate Cuba-US tensions, with Washington blaming Havana for supporting Caracas. The government will prioritise tourism investment over social spending, potentially reducing incomes for Cubans. Conversely, tighter US rules may trigger a brief surge in US tourism to Cuba, for fear that the window of opportunity to visit is closing.


Significance It also looked at government-proposed amendments to another law aiming to reduce the scope for tax evasion in the Aqaba Special Economic Zone. Recent developments including the pandemic, an April political crisis between King Abdullah and his half-brother Prince Hamzah and now the Gaza conflict have highlighted popular dissatisfaction driven by economic grievances. Impacts Tourism should start to recover in late 2021, but revenue is unlikely to return to pre-pandemic levels until 2024 at the earliest. Forecast economic growth of 2-3% over the next four years leaves little scope for improvement in living standards. Without a strong economic recovery, the government will struggle to bring down an unemployment rate that has reached 24%.


2019 ◽  
Vol 11 (1) ◽  
pp. 25-36 ◽  
Author(s):  
Sanjay Sharma ◽  
Rekha Sharma

Purpose India is edging China to become the most populous country by 2028. More than 60 per cent of the current population of India is between 15 and 59 years of age, whereas domestically, its relatively youthful profile is seen as the biggest challenge for the government, as India is the largest employable manpower base globally. In the past two decades, the rate of population growth in India has reduced, but the skilled labor force is expected to grow almost 2 per cent annually for the next couple of years. Historically, the Indian economy has been mainly agriculturally based, but, with urbanization, the labor is drifting toward service sectors, and people are increasingly looking to develop their skills in sectors such as hotels, restaurants, airlines, retail and health care. To sustain economic growth, there is an urgent need to develop vocational training programs that address current needs. In spite of all the favorable numbers, the question that must be answered by employers and policymakers remains: Is the available labor being skilled appropriately to be employable? The mushrooming of educational and training institutes in India has imparted professional skills to youth, but industry leaders tend to talk about the unavailability of skilled labor, especially in the culinary skills arena. In a country like India, the labor market tends to alternate between the availability and shortage of skilled labor, and so it seems ironic that on the one hand, there is a shortage of staff and at the same time graduates from various colleges and professional institutes remain unemployed; the reason could be lack of employability skills, especially culinary skills. Given this, the hospitality and tourism industry has emerged as the main driver of the service sector in India; it contributes 6.23 per cent to National GDP and 8.78 per cent of the total employment in India, contributing to significant economic growth. In this context, it is imperative for the government to take appropriate steps in devising strategies to address the problem and also secure successful implementation. This paper aims to analyze the Skill India initiative for the hospitality sector and compare it with the realities on the ground, with particular reference to culinary skills. Design/methodology/approach The research reported here was conducted using primary and secondary sources. Industry data were collected through focused groups and roundtable discussions. Online sources, magazines, newspapers and books are referred to as secondary sources, and the data collected are critically analyzed to reach a conclusion. Findings There is a significant increase in foreign and domestic tourists, and the subsectors discussed are very closely linked to food, health, traditional cooking, regional and seasonal cuisines. The demand for Indian food and slow cooking is increasing; however, despite various government initiatives, there is no significant improvement in the skill set of the available labor. As food is an important component of all tourism packages, there is a particular need for public–private partnerships to take the Skill India initiative to the next level. That said, academic standards and curriculum must align with international quality frameworks and be in sync with current and future industry demands and benchmarks. Research limitations/implications The dependence on the sources available online and their credibility remains the biggest challenge; however, increasing the sample size and more participation from nodal bodies and government officials would have broadened the base of the study. Originality/value The research adds value for industry leaders and policymakers at large. Educational institutions, students and hoteliers will find it useful as they attempt to bridge the gap and plan a roadmap according to industry requirements.


Significance The government is struggling to agree a budget that will allow an increase in public-sector salaries, financed by higher taxes and duties. If passed, it would be the first budget to be approved since 2005, marking the end of the country’s lengthy political crisis. In the interim, the government has covered spending by ministries without a formal budget. Impacts If the tax and duty increases were implemented, this could be a drag on economic growth, which might also increase the debt/GDP ratio. Higher taxes on deposits, property and alcohol could have a negative impact on capital inflows and tourism. Failure to approve the budget would suggest similar difficulties in agreeing a new election law before parliamentary polls due in May.


Significance The budget was subsequently presented to parliament for discussion on October 18. The 2022 budget was increased to USD27bn, up from USD25.4bn in 2021. Akhannouch’s Five Year Plan is expansive and comes against a backdrop of renewed projected economic growth for 2022. Impacts COVID-19 will complicate the revival of Morocco’s tourism industry, a large and quick source of hard currency. The government has publicised the social welfare components of the plan, but it is unlikely to have the capacity to implement them. Disparity between the human capital of urban centres such as Rabat and Casablanca and the hinterland will impede wide reforms.


Significance The RBA has cut its growth forecasts amid rising job losses, weakening demand and increasing signs that the latest COVID-19 lockdowns will continue to slow the economy until the pace of the vaccine roll-out programme can be increased. Impacts Although the RBA is independent, the government will hope it keeps rates low ahead of the elections due next year. Commercial lenders could raise interest rates independently of the RBA if inflation remains high. Wage pressures will re-emerge as labour markets tighten but may be mitigated by the extent of underemployment. Economic growth will be uneven across the country in coming months as pandemic-related restrictions vary by location.


2018 ◽  
Vol 25 (2) ◽  
pp. 129-153 ◽  
Author(s):  
Yousaf Ali ◽  
Zainab Ahmed Shah ◽  
Amin Ullah Khan

Purpose This study aims to cover issues regarding traveling to a tourist destination which has seen war and terrorism. These problems can be addressed altogether, as they are interrelated. Based on tourists’ opinions, this paper aims to focus on measures or steps that can be taken to ensure changing their perceptions about a certain destination. Design/methodology/approach This study targets tourism experts for their opinions regarding the measures most necessary to change the perceptions of tourists. Their opinions were extracted through a questionnaire based on three criteria with four alternatives. Furthermore, raw data extracted are studied using the Fuzzy-VIKOR technique to rank the alternatives in order of importance. Moreover, the questionnaire also aims to know the perception of participants by asking them what would make them trust a destination with a history of terrorism. Findings The problems captivate the attention of government, guiding them to ensure that they need to focus more on physical security of tourists if they expect tourism industry to thrive. It was found that the steps needed to be taken are in the areas of international trade, cultural exchange programs and social media advertising. Originality/value Research based on improving tourist perception of Pakistan to develop Pakistan as a tourist destination is scarce. The study takes four different alternatives into account for image recovery and based on those alternatives, it provides a unique solution to the government in this regard with the necessary steps they need to take and attempts to help the government ensure tourism expansion in the country.


2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Sreenu Nenavath

Purpose This paper aims to show a long run and causal association between economic growth and transport infrastructure. Design/methodology/approach In this study, the authors use ARDL models through the period 1990 – 2020 to investigate the relationship between transport infrastructure and economic growth in India. Findings The infrastructure has a positive impact on economic growth in India for the long run. Moreover, Granger causality test demonstrates a unidirectional relationship between transport infrastructure to economic development. Stimulatingly, the paper highlights the effect of air infrastructure statistically insignificant on economic growth in the long and short-run period. Originality/value The original outcome from the study delivers an inclusive depiction of determinants of economic growth from transport infrastructure in India, and these findings will help the policymakers to frame policies to improve the transport infrastructure. Hence, it is proposed that the government of Indian should focus more to upsurge the transport infrastructure for higher economic development.


2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Joshua Schmidt ◽  
Alex Altshuler

Purpose This paper aims to discuss how the tourism industry is contending with the economic and interorganizational challenges wrought by the COVID-19 outbreak and heightened by a lack of communication between the government and local businesses in the state of Israel. The researchers examine the dependency of the tourism industry on the general preparation programs that were developed and are currently being deployed by the relevant national stakeholders and question whether instead, it should use the pandemic as a catalyst for formulating its own nuanced tourism-travel-and-hospitality-oriented strategies and procedures. Design/methodology/approach Applying an ethnographic-based mix-methods research approach, this paper draws on insights from data compiled by fusing existing theoretical and emerging practical knowledge with empirical research (qualitative and quantitative) conducted among numerous relevant macro (governmental/centralized industry) and micro (hotels, travel and tourism operators and service providers) stakeholders as well as potential consumers. Findings It is essential that national and local government bodies form collaborative interorganizational relationships with local stakeholders to jointly activate case-specific hospitality and travel-specific risk mitigation management strategies. Moreover, the pandemic laid bare the tentative and fragile nature of the globalized tourism industry supply and demand chains, a condition that may be remedied via a pivot toward using national or even regional supply chains and goods and service providers. Within Israel, such changes could lead to increased economic benefits that extend beyond the tourism industry to provide certain security-related benefits. Originality/value Relating to idiosyncratic factors relevant to an Israeli cultural context, this paper uses the ethnographic field-borne familiarity of the researchers with the tourism and travel industries in Eilat and the Dead Sea to offer applicable suggestions for leveraging certain industry resources to both meet the demands of the present-day circumstances and cultivate a multifaceted organizational web of macro and micro social, economic and environmental networks so as to foster a more diversified and therefore resilient local tourism and travel economy.


2019 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Friday Osemenshan Anetor

Purpose The purpose of this paper is to examine the effect of shocks in the various components of private capital inflows on economic growth in Nigeria using quarterly data in the period 1986Q1–2016Q4. Design/methodology/approach The study employs the impulse response function and the forecast error variance decomposition of the structural vector autoregression (SVAR) model. Findings The research result shows that shocks in foreign direct investment (FDI) inflows and portfolio investment inflows have a positive and significant impact on economic growth in Nigeria. In addition, FDIs accounted for significant variation in the growth of the Nigerian economy followed by portfolio investments, while personal remittances exerted the least variation in growth. Practical implications The government should promote a favorable macroeconomic environment for existing and potential foreign investors to ensure the continued inflows of FDI and portfolio investment. Originality/value The novelty of this study lies in disaggregating private capital inflows and analyzing the effect of the shock of each component on the growth of the Nigerian economy using SVAR.


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