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gE Blog Series: Hospitality Industry Part 4 - Technology’s Impact on the Hospitality IndustryOpen in a New Window

As global business practices become increasingly digitized, industry sectors are forced to constantly adjust to their transforming infrastructures. This is especially felt within the hospitality industry, where technological mainstays are driving business on both a domestic and an international scale. Technology has allowed for further integration and optimization of industry practices, accelerating overall efficiency. Outreach efforts have also expanded, attracting more...

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gE Blog Series: Hospitality Industry Part 3 - Hotel Trends in 2017Open in a New Window

2017 will be an exciting year for the hospitality industry. In terms of booking methods, hotel design, and even locations, there will be many changes that impact the hotel portion of the hospitality industry. In no particular order, we have listed ten trends that 2017 will bring below. 1. Pricing to Match Online Customers With each year, an increasing amount of hotel booking occurs online rather than via phone call. As a result, rates are being quickly adapted in order to meet the...

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gE Blog Series: Hospitality Industry Part 2 - Outlook for the AmericasOpen in a New Window

Destination cities in South America, like Bogota and Columbia, have registered double-digit tourism growth in the past year. A positive impact of the currency devaluations is that the exchange rates across the South American region have allowed an affordable opportunity for foreign travelers to go to South America. Investments in infrastructure are also helping to propel the hospitality industry because the improvements help increase access to various markets and boost travel in...

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gE Blog Series: Hospitality Industry Part 1 - IntroductionOpen in a New Window

This week, the globalEDGE blog will be taking an in depth look at the global hospitality industry, looking at the present trends in various sectors of the industry, as well as looking toward the future. For our purposes, we will consider the hospitality industry to be the collection of companies and businesses that cater to the needs of travelers. Major sectors include hotels, restaurants, and recreational businesses, such as casinos, sports and tourist attractions. Many countries around the...

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China Cracks Down on Bitcoin in Latest Attempt to Restrict Capital OutflowsOpen in a New Window

China’s central bank, known as the Peoples Bank of China, or PBOC, is cracking down on the popular cryptocurrency Bitcoin, as part of their latest attempt to stem China’s capital outflow amidst the decline of the Yuan. The Chinese Yuan is currently under immense pressure due in part to the slowdown of growth in the Chinese economy and increasing uncertainty about its future prospects. The currency depreciated 6.6% against the US Dollar in 2016, and in order to prevent a further...

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Africa's Largest Oil ProducersOpen in a New Window

In December 2016 Nigeria once again became Africa’s top oil producer, producing just over 1.75 million barrels of oil per day. Before December, Angola had been Africa’s largest oil producer.  Both countries are members of OPEC, the Organization of the Petroleum Exporting Countries, and in late 2016 OPEC agreed to cut their total oil production by 1.2 million barrels a day starting in January 2017 to keep oil prices at a stable point. Up to this time,...

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EU Proposes Limitations on Online TrackingOpen in a New Window

Do you ever wonder how, or to what extent, your online activity is being tracked? While browsing the internet, ads often pop up on the sides of webpages that are suspiciously similar to recent searches or website visits; this happens because internet activity is tracked and gathered through cookies placed by first or third-party trackers. Third-party trackers first appeared in 1998, and their presence has been steadily increasing ever since. Are cookies placed by trackers something we...

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globalEDGE Featured by Open to ExportOpen in a New Window

Sarah Singer, assistant director at the International Business Center at Michigan State University and manager of globalEDGE, was recently interviewed by Open to Export to discuss how globalEDGE can assist in market research for exporters. Highlighted in the discussion were especially useful resources for exporters on globalEDGE, such as our risk comparator tool, country trade statistics, and country indices. Sarah also offered advice for exporters who want to research potential new...

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globalEDGE Business Beat: Latest SegmentsOpen in a New Window

Have you visited the globalEDGE Business Beat recently? In last week's segments, Tomas Hult discussed a wide range of topics, including the refugee crisis and its impact on Turkey, Israel's relationship with the United States, and the current dynamics between the United States and Cuba. The Business Beat is hosted by Dr. Tomas Hult of the Broad College of Business at Michigan State University, and consists of brief audio segments that drive into current topics impacting the...

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Business Travel in 2017? Here's what to expectOpen in a New Window

As winter vacations come to a close, the global workforce is underway again, and there are several questions business and corporate travelers have regarding their upcoming costs of travel and stay. Among the many factors, the future of international business travel remains uncertain due to the prolonged set back in the Chinese economy, the United Kingdom’s monumental vote to depart from the European Union, the controversial U.S. Presidential election, and increased security concerns...

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The REIT industryOpen in a New Window

Real estate investment trusts (REITs) are a type of investment vehicle which invests in real estate through property and mortgages, and similar to stocks, they can be traded on major exchanges. In the U.S., there are three major kinds of real estate investment trusts (REITs). Equity based REITs own and invest in properties, and are responsible for the value of their assets, and account for the majority of REITs. Mortgage REITs invest in and own property mortgages, and tend to either loan...

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The Future for US Automakers and NAFTAOpen in a New Window

As many of us know, the North American Free Trade Agreement (NAFTA) played a significant role in the US elections, with president-elect Donald Trump clearly stating that he will renegotiate the agreement with Canada and Mexico in order to stop the outflow of middle-class jobs. Changes in NAFTA would transform the auto industry in the US since it allows automakers, as well as other suppliers, to move production to Mexico without facing any tariffs and take advantage of the lower labor...

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Eurozone Inflation Hits Highest Level in Three YearsOpen in a New Window

According to Eurostat, Eurozone inflation hit 1.1% last month, which is a sharp increase compared to November’s rate of 0.6% It is believed that this jump can be attributed to increased costs of energy, food, alcohol, and tobacco. This inflation rate is the highest that the Eurozone has seen in over three years; in September 2013, the rate was also 1.1%. Energy prices rose by 2.5% year-on-year in December, which is their first increase in over a year. These prices were boosted by...

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Russia Combats Cancer With Nuclear Medicine AdvancementsOpen in a New Window

Russia has been pushing to incorporate nuclear technology in medicine. This process, known as nuclear medicine, involves the use of radioactive substances producing dangerous radiations to gamma rays, beta particles, and alpha particles. Although it may be risky and unsafe, Russia’s increasing participation in the “international market for the production of medical isotopes” has brought tremendous success to the country in the means for fighting cancer. While only five...

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U.S. Chipmaker Faces Record Antitrust Fine from South KoreaOpen in a New Window

The Korea Fair Trade Commission, a corporate regulator based in South Korea, declared that it would fine mobile chipmaker Qualcomm Inc. a hefty $853 million over the company’s purported abuse of antitrust laws. The announcement comes at the end of the Commission's three-year investigation of Qualcomm and constitutes the highest such fine charged to an individual United States-based company. The Commission concluded that Qualcomm broke antitrust laws by refusing patent...

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Chinese Yuan Losing ValueOpen in a New Window

China has been one of the largest economies in the world for many years, however its place near the top has been impacted in recent times because of its currency. The yuan, the national currency for China, has been depreciating in value and will continue to do so into the first quarter of 2017. This decline has been the biggest for the Chinese yuan in the last two decades. For the past 14 consecutive months, money has been leaving China, causing a slump in the nation’s...

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U.S. Economic OutlookOpen in a New Window

In the United States, the gross domestic product expanded by 3.5% during the third quarter, the strongest growth rate in the last 2 years.  The data reflected strong consumer spending in services and investments in buildings and intellectual property. Since the recession ended in 2009, the U.S. economy has grown at the slowest average expansion rate since 1949, averaging about 2%. After a short spurt during the third quarter, certain measures of a strong economy, such as income...

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Logistics in the Holiday SeasonOpen in a New Window

In today’s blog, we will take a look at the logistics industry and how it deals with the incredible challenges of delivering packages to customers around the world. With the holiday season in full swing and as frantic shoppers look to purchase last minute gifts before Christmas, the shipping industry is forced to work 24/7 to meet demand. The holidays can make or break the year for many retailers and ecommerce websites, and these businesses depend on shipping companies to ensure their...

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U.S. Home Sales Reach An Unexpected HighOpen in a New Window

During this past November, sales on United States homes have substantially increased, reaching an unexpected ten year high. Buyers have been flooding the market, rushing to invest in homes during this current period of low interest rates, especially with anticipated increases in borrowing costs in the near future. The sudden upsurge in home-buying activity may be a result from the strain of rising prices and mortgage rates. Home sales have “increased 0.7 percent, to an annual...

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Casinos in Japan: An International Investment OpportunityOpen in a New Window

On December 15, the Japanese Diet passed a law to legalize casinos in the country, opening way for projects combining gambling with hotels, shopping, and conference spaces. The first proposal for this law was submitted in 2013, and again last year. While Prime Minister Shinzo Abe and his ruling party support the bill, claiming that casinos will stimulate the Japanese economy and increase tourism, opposition parties are critical. This bill had failed repeatedly in previous parliaments to come up...

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