The Times (May 13)
“The United States is expected to lose $12.5 billion in international travel spending by the end of the year.” According to the World Travel and Tourism Council (WTTC) “reports of tourists being stopped at the border, visa detentions, a tariff war waged by the Trump administration and a higher exchange rate” are all factors in what they estimate will reduce 2025 spending by foreign tourists in the U.S. to $169 billion, “down 7 per cent from $181 billion last year and 22 per cent from the peak before the pandemic.”
Tags: $12.5 billion, $169 billion, 2025, Border, Exchange rate, International travel, Pandemic, Reduce, Spending, Tariff war, Tourists, Trump, U.S., Visa detentions, WTTC
Professional Pensions (April 19)
“The response by pension schemes and other investors to the invasion was immediate and, in the days following Russia’s attack, a number of pension schemes announced they would reduce or sell all their holdings as soon as possible.” Exposure to Russia varied by scheme, but was low overall, at around “0.1% for many schemes, holdings that many managers have written down to zero.” All in all, the “market reaction to the crisis was surprisingly muted,” with fairly stable funding levels throughout the crisis.
Tags: Attack, Crisis, Exposure, Funding, Holdings, Immediate, Invasion, Investors, Market, Muted, Pension schemes, Reaction, Reduce, Russia, Sell, Stable, Zero
Fortune (March 20)
“More than 30 companies are ‘digging in,’ defying public demands to exit Russia or reduce their activities in the pariah state.” The list compiled by Yale’s Jeffrey Sonnenfeld has been revised with five categories to better capture corporate presence in Russia: “withdrawal,” “suspension,” “scaling back,” “buying time,” and “digging in.” Included in the final category are “AstraZeneca, Credit Suisse, Emirates Airlines, Koch Industries, SC Johnson, and Subway, which has nearly 450 franchise locations in the country.”
Tags: 30 companies, AstraZeneca, Credit Suisse, Digging in, Emirates Airlines, Exit, Koch Industries, Pariah state, Public demands, Reduce, Russia, SC Johnson, Sonnenfeld, Subway, Yale
