UNWTO: Tourism is growing, with 70 million more arrivals than last year

first_imgTourist destinations around the world hosted 1,1 billion international tourists, from January to October 2017, according to the latest UNWTO World Tourism Barometer. This represents an increase of 7% compared to the same period last year, or 70 million more arrivals from abroad.Thus, destinations around the world in the first ten months achieved a total of 1,127 million (+ 7%) arrivals of international tourists, 70 million more than in the same period in 2016.Destinations in Southern and Mediterranean Europe, North Africa and the Middle East have shown extraordinary strength, with international arrivals exceeding 7% in all Southern and Mediterranean European destinations, and Turkey is recovering rapidly as well as double-digit increases for most other destinations in the region. In North Africa and the Middle East, Egypt, Tunisia and Palestine have recovered strongly from previous years, while Morocco, Bahrain, Jordan, Lebanon, Oman and Dubai continue to grow.”These robust results, the best we’ve seen in many years, reflect ongoing demand for travel around the world, in line with the improved global economy and the recovery of destinations that have suffered declines in previous years”, Said UNWTO Secretary-General Taleb Rifai at the 2nd UNWTO / UNESCO Conference on Tourism and Culture held on 11 and 12 December in Oman.Regional resultsEuropean growth (+ 8%) led to an increase in international arrivals in the first ten months of 2017, thanks to significant results in southern and Mediterranean Europe (+ 13%). Western Europe (+ 7%) recovered from weaker results last year, while Northern Europe (+ 6%) had solid growth. Arrivals in Central and Eastern Europe increased by 4% between January and October 2017.Africa and Africa (+ 8%) are the fastest growing regions in international tourism. Africa (+ 8%) was the second fastest growing region during this period thanks to a strong recovery in North Africa (+ 13%) and sub-Saharan Africa (+ 5%).In Asia and the Pacific (+ 5%), results were led by South Asia (+ 10%), while Southeast Asia (+ 8%) and Oceania (+ 7%) also enjoyed a strong increase in arrivals. Northeast Asia (+ 3%) recorded more mixed results, with some destinations reporting double-digit increases and others rejected.South America (+ 7%) continues to lead growth in America, where total arrivals rose 3%. Central America and the Caribbean rose 4%, with the last signs of clear signs of recovery in October after Hurricanes Irma and Maria.Results in the Middle East (+ 5%) were mixed until October, with some destinations recovering strongly and others continuing to report sustainable growth, but the regional average was partly reduced by a few that declined.Strong recovery of tourist demand from Brazil and RussiaIn 2017, there was a strong growth in demand for international tourism, so demand in Brazil grew by 33%, and in Russia by 27%, which is indicative because the growth was recorded after several years of decline.Tourist spending                                                  Among the 10 leading markets, China (+ 19%), the Republic of Korea (+ 11%), the United States and Canada (+ 9%) and Italy (+ 7%) recorded the fastest growth in tourism consumption. Thus, tourist consumption from Germany, Great Britain, Australia, Hong Kong (China) and France increased between 2% and 5%.last_img read more

AP1 invests $330m in global high yield via Nomura

first_imgAP1 – one of five buffer funds for Sweden’s state pension – has appointed Nomura Asset Management to manage a $330m (€279m) global high-yield credit mandate.Majdi Chammas, AP1’s head of external management, and Tina Rönnholm, the fund’s portfolio manager responsible for external high-yield investments, said in a statement: “[Nomura] has a very powerful investment philosophy and process that is well proven both over time and in various market conditions.”Nomura’s Ireland-domiciled Global High-Yield Bond fund was chosen by AP1 following a “comprehensive” global tender process last year, they added.  David Crall, CIO at New York-based Nomura Corporate Research and Asset Management (NCRAM), said the firm was pleased to have established the relationship with AP1. “Like AP1, we have a strong commitment to responsible and sustainable practices, both in running our own business and when investing client assets entrusted to us,” he said.“We believe that incorporation of environmental, social and governance factors is congruent with our ‘Strong Horse’ investment philosophy.”NCRAM said it had a total return-oriented investment approach driven by bottom-up credit research.It dubs the investment method as the “Strong Horse” approach, because it tries to find corporate issuers deemed capable of carrying their debt through economic cycles.The Nomura investment will sit alongside a $400m allocation to Hermes Investment Management’s global high-yield bond strategy, which AP1 made last year.The SEK333bn (€32.4bn) buffer fund’s 2017 investment return of 9.6% after costs was the strongest of the four main AP funds.last_img read more