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Caribbean’s biggest tourism source markets projected for $20 billion in travel losses

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#Caribbean – March 10, 2020 — Travel demand is likely to drop ten percent among North Americans due to fears from the contagion, COVID-19 and for the tourism dependent Caribbean could present an economic downturn if spread is not stabilized.

The International Air Transport Association, IATA represents 290 airlines or 82 percent of global air traffic and its second report was released last Thursday.

“Many airlines are cutting capacity and taking emergency measures to reduce costs. Governments must take note. Airlines are doing their best to stay afloat as they perform the vital task of linking the world’s economies. As governments look to stimulus measures, the airline industry will need consideration for relief on taxes, charges and slot allocation. These are extraordinary times,” said Alexandre de Juniac, IATA’s Director General and CEO.

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The media release on the financial impact of COVID-19 was publicized on March 5 and while the Caribbean region is not specifically listed, its biggest tourism and trade market is on the lower end of the spectrum.

The United States and Canada are charted with a ten percent loss in travel demand; that equates to just over $21 billion in projected losses.

Leading in this negative trend downward are these European countries: Austria, France, Italy, Germany, Netherlands, Norway, Spain, Switzerland, Sweden and the United Kingdom, which are expected to cumulatively record a 24 percent plummet or a $37.3 billion dollar projected loss.

“The turn of events as a result of COVID-19 is almost without precedent. In little over two months, the industry’s prospects in much of the world have taken a dramatic turn for the worse. It is unclear how the virus will develop, but whether we see the impact contained to a few markets and a $63 billion revenue loss, or a broader impact leading to a $113 billion loss of revenue, this is a crisis.”

The comments are from the IATA assessment which also explained financial markets are now anticipating a large fall in airline profits globally and a drop in oil prices is poised to offset the impact of coronavirus, but not right away.

It is estimated the savings on fuel will amount to $28 billion dollars in 2020.

The Caribbean is not charted by IATA in this recent report because there are less than ten cases of COVID-19 confirmed in the region.

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Big Ticket Wins in the Historic US-UK Trade Deal: Agriculture, Autos, Steel, and a New Era of Partnership

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May 15, 2025 – On May 8, the United States and the United Kingdom announced a landmark Economic Prosperity Deal—one that both sides hail as a transformative moment in the “special relationship.”  The agreement, unveiled on the 80th anniversary of Victory in Europe (VE) Day, represents a significant realignment in bilateral trade and industrial cooperation.                                                                                                                                                  Key Outcomes of the Agreement

  1. Boost for U.S. Agricultural Exports
    American farmers will benefit from over $5 billion in new export opportunities, including:
  • $700 million in ethanol exports
  • $250 million in beef and other agricultural goods
  • Removal of non-tariff barriers that previously restricted U.S. goods
  1. Automotive Tariff Reductions
    U.S. tariffs on the first 100,000 UK-manufactured vehicles imported annually will drop from 27.5% to 10%. Additional units will face a 25% tariff. Prime Minister Starmer emphasized this breakthrough during a visit to Jaguar Land Rover, saying:

“This deal means that US tariffs will now be cut from 27.5% to 10% for 100,000 vehicles every year… To get that decrease was hugely important to me.”

  1. Steel and Aluminum Relief
    The deal eliminates tariffs on British steel and aluminum, ending longstanding trade frictions. Starmer noted this move “will protect British businesses and save thousands of skilled, well-paid jobs.”
  2. Life Sciences and Pharmaceutical Supply Chains
    The UK’s life sciences sector receives vital assurances, while the U.S. gains secure pharmaceutical supply chain access, reinforcing mutual health security.
  3. Aerospace Collaboration
    U.S. aerospace manufacturers will benefit from preferential accessto high-quality UK components, strengthening bilateral industrial resilience.
  4. Broader Market Access and Regulatory Alignment
  • Streamlined customs for U.S. exports
  • Expanded procurement opportunities in the UK
  • Mutual commitments on labor, environment, and intellectual property

A Shared Vision for Economic Renewal

Starmer framed the agreement as a direct response to economic pressures and a vote of confidence in global partnerships:

“We are sending a message to the world that Britain is open for business… with the US today, India on Tuesday, and the EU next week.”

He also emphasized a new tone in global diplomacy:

“We don’t storm off, we stay in the room, and we negotiate… Acting in the national interest.”

President Trump echoed similar sentiments, calling the deal “a great deal for America” that ensures “unprecedented access to UK markets” and levels the playing field for American producers.

Looking Ahead

This agreement represents more than a list of tariff changes—it is a political signal of stability and renewal. As Starmer concluded:

“Jobs saved. Jobs won. But not job done.”

Both leaders hinted at further negotiations to deepen cooperation in technology, services, and innovation—potentially paving the way for a comprehensive 21st-century transatlantic trade framework.

Fittingly, the deal was sealed on VE Day—a symbolic nod to 80 years of allied partnership, now reinforced by economic prosperity as a defining pillar of that relationship.

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Technological Skills Take Center Stage in Future of Jobs Report

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Deandrea Hamilton

Editor

 

 

May 15, 2025 – The World Economic Forum’s Future of Jobs Report 2025 reveals a sharp pivot in employer expectations toward technological and human-centric skills.  Over the next five years, AI and big data are forecast to see the fastest growth in importance, underscoring the rapid digital transformation reshaping global industries.  Following closely are networks and cybersecurity, along with a general rise in demand for technological literacy.

However, it’s not just technical skills gaining traction.  Employers are placing increasing value on creative thinking, as well as socio-emotional strengths like resilience, flexibility, agility, curiosity, and a commitment to lifelong learning.  These competencies reflect a growing need for workers who can adapt quickly, think critically, and remain engaged amid change.

Also ascending in importance are leadership and social influence, talent management, analytical thinking, and environmental stewardship. These skills point to a future workforce that must not only manage innovation but also guide teams through complex transitions, including those driven by sustainability imperatives.

In contrast, traditional cognitive and physical skills are showing signs of decline.  Reading, writing, and mathematics are projected to see a small net decrease in relevance.  More notably, manual dexterity, endurance, and precision — long staples of many industrial roles — are expected to drop significantly in value, with over 24% of employers anticipating reduced importance.  This marks a historic low for these physical abilities, which have consistently trended downward in previous reports but now show a net negative shift.

Sector-specific insights highlight how the demand for AI and big data is near-universal, with more than 90% of top industry respondents forecasting increased use, except in Agriculture, Forestry, and Fishing (70%) and the Accommodation, Food, and Leisure sector (69%). Resilience and adaptability are especially vital in traditionally less tech-centric industries, while creative thinking is surging in importance in Insurance, Education, and Telecommunications.

Environmental stewardship is also gaining ground, particularly in Oil and Gas and Chemicals, reflecting broader sustainability goals. Meanwhile, physical skills are declining most in Energy, Chemicals, and IT Services, with decreases above 39%.

Overall, the report paints a clear picture: the future workforce must combine digital fluency with adaptive, human-centered skills to thrive in a rapidly evolving job landscape.

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NOAA to announce 2025 Atlantic hurricane season outlook May 22

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May 15, 2025 – NOAA will issue its outlook for the 2025 Atlantic hurricane season during a news conference on Thursday, May 22, at the Jefferson Parish Emergency Operations Center in Gretna, Louisiana, and virtually.

Speakers will announce the anticipated activity for the 2025 Atlantic hurricane season, factors that may influence hurricane development and provide advice for how the public can prepare for the season, which officially begins June 1 and ends November 30.

WHAT

News conference announcing NOAA’s 2025 Atlantic Hurricane Season Outlook

WHEN

Thursday, May 22; 10:00 a.m. CDT / 11:00 a.m. EDT

WHERE

Jefferson Parish Emergency Operations Center, 910 3rd Street, Gretna, LA 70053

WHO

  • Laura Grimm, acting NOAA administrator
  • Ken Graham, director, NOAA’s National Weather Service
  • Cynthia Lee-Sheng, Jefferson Parish president

Matthew Rosencrans, lead hurricane season forecaster with NOAA’s National Centers for Environmental Prediction will also be available for questions and interviews.

FOR IN-PERSON REGISTRATION

Media interested in attending the in-person news conference must register hereoffsite link by 4:00 p.m. EDT on May 20. Space is limited. For any questions, email nws.pa@noaa.gov.

FOR VIRTUAL REGISTRATION

Credentialed reporters unable to attend in person may watch a live stream of the news conference and must register at this link.offsite link (For the best experience, download the Adobe Connect appoffsite link.) Reporters attending virtually will have the ability to submit written questions during the Q&A portion of the event.

Additional resources

Hurricane safety and preparedness is critically important before the season begins on June 1. NOAA’s National Weather Service provides resources to prepare for hurricane hazards and real-time updates about active tropical weather systems from the National Hurricane Center at www.hurricanes.gov.

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