TAG: Tourism
With winter creeping into the northern hemisphere and many of our readers dreaming of taking a vacation in warmer climes, it is a good time to consider whether China’s holiday trends are powerful enough to affect international economies
The past few years have come to be defined by major economic restructuring, encompassing government institutions, investment funds, oil and gas, financial services and education. Leadership across the emirate continues to embrace these changes, creating more efficient institutions better equipped to handle challenging times. Continuing to build competencies outside oil and gas, and furthering the knowledge economy, will be crucial to achieving the emirate’s long-term goals.
While Egypt continues to face considerable economic challenges, the outlook is improving on the back of strong private sector activity and government reforms. New revenue enhancements have been put into place, while current spending is being curtailed and a long-awaited legal framework aimed at attracting new investment will soon be rolled out. Financial services, telecoms and industrial firms have benefitted from steady domestic demand, although there are plenty of obstacles to faster growth, including a troubled currency – the flotation of which, while seen as necessary, threatens to drive up inflation.