The country’s potential in this area is highlighted by its rank of 49 out of 140 countries in terms of infrastructure in the “Global Competitiveness...
Construction
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Chapter | Construction & Real Estate from The Report: Mexico 2019
In 2018 Mexico’s economy ranked second in Latin America and 15th in the world in terms of GDP, which totalled $1.22trn, according to the World Bank. In 2019 the newly elected President Andrés Manuel López Obrador has pushed ahead with efforts to meet his pledge to tackle corruption and implement austerity measures within the government, to reduce costs and curb excessive expenditures.
Articles & Analysis | Papua New Guinea's hospitality sector expanding to support growing tourism numbers from The Report: Papua New Guinea 2019
Aided by easier and cheaper travel, global tourism has experienced two decades of almost uninterrupted growth. According to the World Bank, the number of international departures more than doubled between 1997 and 2017, from 687m to 1.57bn per annum. With the global middle class estimated by the US-based think tank Brookings Institution to be expanding by as many as 160m...
Articles & Analysis | China’s implementation of a new trade network is energising the global construction industry from The Report: Papua New Guinea 2019
From 206 BCE to 220 CE China’s Han dynasty fostered a booming trade industry for silk, a precious commodity in high demand among the elites of the Mediterranean. The Silk Road was the name given to the network of trade routes connecting the East and West at the time. Later, spices and other precious cargo would be traded using the system, fostering not only economic, but also...
Articles & Analysis | Policies aim to formalise housing and improve quality of life in Papua New Guinea from The Report: Papua New Guinea 2019
While some debate remains about what constitutes the middle class, largely because the average incomes and standards of living vary considerably in different parts of the world, experts are in agreement on some basic characteristics: in general, the middle class has more disposable income than the poor, which is defined by the World Bank as those living on less than a $1.90 a...
Articles & Analysis | New law grants on bidding for public construction contracts in Papua New Guinea from The Report: Papua New Guinea 2019
In September 2018 the Parliament passed the National Procurement Act (NPA) 2018, which abolished the Central Supply and Tenders Board (CSTB) and replaced it with the new National Procurement Commission (NPC). The decision dissolved the public procurement framework previously set out in the Public Finances (Management) Act 1995. Under the new act all public procurement...