2020 was predicted to be a splendid year for tourism in Japan. Since Tokyo would be hosting the Olympic and Paralympic Games, the government had aimed to attract a record-high 40 million visitors. Even in January, hotels, ryokans, and airlines were eagerly rolling out promotional campaigns and preparing for an influx of travelers. However, as...
The COVID-19 pandemic in India, like everywhere else, has adversely impacted the Indian economy across many sectors. The most affected sectors include automobile, aviation, retail (including tourism and services), construction, and real estate, among others. The automobile sector, in particular, has been the most adversely impacted. The industry contributes approximately 7.5% of the nation’s GDP...
Germany is often seen as the engine of Europe in the context of industry, its rising economy, and international exports. But Germany has not been unaffected by the Coronavirus Pandemic. The Kiel Institute for World Economy remarked that the first two quarters of 2020 show the smallest amount of industrial production in decades. It is...
The automobile manufacturing industry is among the economic sectors that have been heavily affected by the COVID-19 pandemic in France. The PSA Group (owner of the brands Peugeot and Citroën) and the Renault Group are the second and third largest automobile producers in Europe. In 2019, the two groups together sold over 7 million cars...
The impact of COVID-19 on the world economy is huge. Closure of borders, restrictions on traveling, and dramatic reduction of commercial flights have led to an unprecedented drop in the number of tourists worldwide, nearly leading to a collapse of the tourism sector in many countries. Tourism is considered to be a major world industry...
In post-COVID-19 pandemic efforts to revive the economy, China’s government has so far – unlike other countries – resisted issuing a large stimulus package. Instead, the current stimulus measures amount to 2 trillion RMB – split into government bonds and financial relief measures – are targeted at spurring innovative technologies and consumption to stabilize employment...
In the last Climate Scorecard report for Brazil, we discussed how Land Use and Land Cover Changes (LULCC) are a pressing concern for Brazil’s commitment to emission reductions targets in terms of climate mitigation. In particular, the agribusiness and logging industries and consequential large-scale tropical deforestation (motivated by the extraction of high-profile wood such as...
Even before COVID, Australia’s steel and aluminium manufacturing industries were at an interesting crossroads. Aluminium smelters in Australia currently operate at a massive financial loss and require significant government subsidies. Australian steel-making produces a relatively expensive product that often struggles for relevance in a crowded market. And, both have suffered from long-term uncertainty over climate...
