Archive for February, 2018

Spain Tops US as Tourist Destination

Saturday, February 10th, 2018

Considering the relative size of the economies and how important tourism is to each, then this is quite a surprise. That Spain will this year overtake the US as a tourist destination is an incredible achievement for a country which has had great economic and political upheaval in recent times. For those of us in the UK it probably comes as no surprise, the British have been holidaying in Spain in their millions for decades. Indeed many of us spend large parts of the year, relaxing in the Winter Sun happy that we’ve learnt how to watch BBC iPlayer in Spain too.

Spain, where tourism accounts for about 11% of the economics, has seen a spike in international visitors partly because of security concerns in other popular vacation destinations like Egypt and Turkey. ¬† Although the US is still popular just like American culture via US DNS and Netflix, the strong dollar and relatively expensive airfare cost means that it’s not experiencing the same growth as some of the European countries. ¬†Preliminary data released late on Wednesday showed the number of visitors coming in Spain rose 8.9% year-on year to 82 million tourists, that makes Spain the world’s second most visited country after France and push the US into third position, this was from a Reuters report. Figures showed that tourist spending also hit a brand new record in 2017, rising 12.4 percent in the year from 2016. According to final data for the first 11 months of 2017, too published on Wednesday tourists remained Spain’s biggest group of visitors from nationality, accounting for 18 million tourists up 7 percent from a year before.

Catalonia remained the most visited region of Spain in 2017, despite two strikes at tourist haunts in August which left 16 people dead and more than 100 people. Tourism from the region’s capital Barcelona dipped slightly after the strikes, then dropped in October following a liberty vote prompted scenes of police violence and mass protests, but it’s since rebounded. Tourism has also benefited from a boom in leasing flats outside to tourists through internet platforms like Airbnb. ¬†This has made a combination of cheap airfares and affordable accommodation which makes Spain an extremely attractive holiday destination.

Nevertheless, this has prompted a backlash in favorite destinations like Barcelona, Palma de Majorca or San Sebastian as locals complain of a drop in long term rentals and costs. The sector will continue to grow in the coming years due to expected economic improvement in visitors home nations and increased flights and destinations, the tourism association Exceltur said on Thursday. Spanish tourist companies expect a 5.6% growth in their earnings and 5.3% growth in their profits in 2018, Exceltur vice president Jose Luis Zoreda told a news conference. But, general sector growth might slightly lighten this year to 3.3% year-on year by an annual expansion of 4.4% in 2017 due in part to many tourists returning to destinations in North Africa and Turkey, he added.

US Economy Continues to Grow

Friday, February 9th, 2018

President Trump’s main priority, well one of them, is of course the US economy. So how has it been performing? In between Tweets, shutdowns and scandals the US economy has actually responding well to the global upturn. Both GDP, jobs and most economic forecasts are looking fairly promising and are expected to continue. Judging by most economic reports across the world that is leading to enhanced optimism in other countries too, check out BBC reports –

The U.S. Economic sector grew at a good rate of 2.6 percent from the final 3 months of last year, aided by the fastest consumer spending since the spring of 2016 along with a large rebound in home construction. The Commerce Department says the 4th quarter advance from the gross domestic product, the country’s total output of services and goods, followed gains of 3.1 percent in the second quarter and 3.2 percent in the next quarter. The most recent downturn reflected a trade deficit and growth in stock rebuilding by businesses. For many of 2017, the economics grew 2.3 percent.

That’s a considerable improvement in the 1.5 percent gain in 2016, but little changed from the small 2.2 percent average growth rate turned in since the Great Recession ended. International growth, dollar, push orders for durable goods 2.9 pct. There are of course, some who point over to the European economies which in many cases are doing much better than the US economy. Global growth is also rising with demand being pushed from less developed countries recovering from the global recession. So it’s difficult to say if US economic growth is as a result of

Orders for long lasting manufactured goods rose 2.9 percent in December, the fastest rate since June and another indication of power for American industry, the Commerce Department said Friday. Orders were increased by a 15.9 percent spike in demand for airplane and aviation parts, which could bounce around from month to month. Excluding the volatile transport sector, orders increased by 0.6 percent in December.

Total orders for durable goods, that is good which are intended to last at least three decades, have climbed in four the last five months and were up 5.8 percent for the year 2017, the best in six decades. Still, a group that measures business investment, orders for non-defense capital goods excluding airplane, dipped 0.3 percent in December. American producers are benefiting from a pickup in global financial growth and weaker dollar, that makes U.S. Goods more affordable in overseas markets.

The Commerce Department upgraded the Nov increase in orders for durable goods to 1.7 percent from the 1.3 percent profit it initially reported. Orders for computers dropped 4.4 percent, second straight monthly decrease. Machinery orders rose 0.6 percent last month after being flat in November. Orders for automobiles, trucks and auto parts climbed 0.4 percent, decelerating after gains of 2 percent in Nov and 1.5 percent in October.

John Allen

Blogger from Identity Voucher