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Tourism boom propels Spain, Greece and Portugal to economic success

Derided as "Club Med" nations during the European debt crisis 15 years ago, the economies of Spain, Greece and Portugal are now outperforming their northern peers thanks to a rebound in tourism. The three nations had to endure harsh austerity measures in the early 2010s imposed by their European Union partners, who were quick to blame their fiscal laxity and lack of competitiveness for their economic woes. But "the situation has changed" since the Covid-19 pandemic ended, said Zsolt Darvas, an economist at Bruegel, a Brussels-based think tank. "Today, those countries are growing faster than the European Union average, they are no longer seen as black sheep." Spain's gross domestic product (GDP) expanded by 2.5 percent last year, while Portugal's economy grew by 2.3 percent and Greece by 2.0 percent. That compares to growth of 0.4 percent for the entire 27-member European Union, which was weighed down by Germany's 0.3 percent contraction, making it the world's worst-performing major economy in 2023. The International Monetary Fund expects the three nations to continue to outperform this year, although at a more modest pace. It sees growth this year of 2.4 percent in Spain, 1.7 percent in Portugal and 2.0 percent in Greece. Spain's economy is taking off "like a rocket", Spanish Prime Minister Pedro Sanchez said recently. The country is "the locomotive" of job creation in the EU, he added on Thursday. - 'Great efforts' - Economists say this turnaround is largely due to a strong rebound in tourism, which reached record levels last year following the lifting of pandemic travel restrictions. The sector is key for the three nations, accounting for almost 25 percent of Greece's economy, and 12 percent in both Portugal and Spain. The trio of nations are also benefiting from the EU's massive pandemic recovery fund, whose mix of grants and loans in exchange for structural reforms will largely go to southern countries. Spain -- the biggest beneficiary of the fund after Italy -- has so far received 38 billion euros, Greece 15 billion euros and Portugal eight billion euros. The three nations have also made "great efforts to improve their economic attractiveness" with structural reforms that have boosted their competitiveness and improved their labour markets, said Darvas. The reforms have helped draw foreign investment, especially in renewable energy and cloud computing. Amazon's cloud computing division AWS announced last month it would invest over 15 billion euros to expand its data centres in Spain. Many automakers such as Volkswagen and Stellantis, whose brands include Peugeot, Fiat and Jeep, have chosen to assemble their new electric vehicles in Spain, Europe's second largest automobile producer after Germany. - Challenges remain - The growth spurt in the three countries, however, is partly catching up after the steep falls in GDP during the financial crisis. Greece's GDP for example plunged 25 percent. Economists warn they still face challenges. While they have all seen joblessness fall, the unemployment rate in Greece and Spain sits above 11 percent, way above the EU average of 5.9 percent. And former European economic and monetary affairs commissioner Olli Rehn told AFP that "deficits and debt levels remain large in some cases" even though "divergences between euro area countries have decreased compared to 10 years ago". Portugal swung to a budget surplus of 1.2 percent of GDP last year while Greece's public deficit declined to 1.6 percent in 2023 from 2.5 percent in the previous year. The EU average is 3.5 percent. This has helped its 10-year borrowing rate to drop to 3.5 percent from 13 percent during the financial crisis. Darvas said the "convergence" of southerrn European nations with northern ones "is likely to continue" but at a "slower pace". Spain, Portugal and Greece still have "work to do," he added.

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IMD forecasts increased rainfall in Goa, Karnataka and Maharashtra

The IMD has announced a notable increase in rainfall activity along the coastal regions of Karnataka and Maharashtra starting June 8. According to the forecast, heavy rainfall is expected to impact several states. Goa, Karnataka, Assam, Meghalaya, West Bengal, and Sikkim are all anticipated to experience heavy rain until June 10. In Kerala, heavy rainfall is forecasted for June 9, with the IMD issuing an orange alert for Kozhikode, Wayanad, Kannur, and Kasargod districts today. Additionally, a yellow alert is in place for Alappuzha, Ernakulam, Idukki, Thrissur, Palakkad, and Malappuram districts. Andhra Pradesh and Telangana are expected to experience rainfall on June 9 and 10. Madhya Pradesh will witness rainfall and strong winds in some parts. An orange alert has been issued for Barwani, Khargone, Khandwa, Indore, Dewas, Dhar, Betul, Ujjain, Jhabua, and Alirajpur districts. Meanwhile, Delhi will have a partly cloudy sky with chances of dust storms or thunderstorms, accompanied by light rain. A yellow alert has been issued for the national capital, with maximum and minimum temperatures expected to be around 42°C and 29°C, respectively. The weather change is due to a fresh western disturbance, providing relief from the recent heatwave. In Mumbai, residents will experience a partly cloudy sky with light rain and thunderstorms. The IMD forecasts maximum and minimum temperatures of approximately 35°C and 29°C, respectively. The city is poised to see the onset of the monsoon between June 9 and 10, marking a significant change in the weather pattern. Heatwave conditions are predicted in several regions, prompting the IMD to issue alerts. Northeast Madhya Pradesh and Jharkhand will experience isolated heatwave conditions from June 8 to 11, while Bihar is expected to face heatwave conditions on June 9 and 10. Similar conditions are forecasted in Odisha, Punjab, and Haryana from June 9 to 11. In Uttar Pradesh, certain regions will face heatwave to severe heatwave conditions from June 8 to 11. Residents in the affected areas are advised to stay updated with the latest weather forecasts and take necessary precautions. The IMD continues to monitor the situation and will provide updates as needed.

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AirAsia’s Big Sale Offers Low Fares to Exotic Destinations

AirAsia‘s FREE* Seats campaign is back, offering 10 million promotional seats to support tourism and boost economic activity throughout the region. With over 130 destinations on sale this year, the initiative seeks to enhance connectivity and strengthen the economies of various popular travel locales. Travelers can take advantage of this opportunity to discover stunning hidden treasures like Da Nang, Pattaya, Medan, Guwahati, Siem Reap, and more at no cost*, attracting tourists to these areas. The campaign also covers domestic locations in Malaysia such as Kuching, Penang, Langkawi, and Alor Setar, enabling holidaymakers to explore exciting spots and enjoy local cuisines, thus bolstering the tourism sector and local economies. For those looking to venture beyond Asia, AirAsia’s Big Sale provides special fares on AirAsia X for medium-haul destinations. Enjoy the architecture and local foods of cities like Taipei, Xi’an, Perth, Almaty, Tokyo, Seoul, and others with fares starting from RM279** for an all-in one-way ticket. To mark the launch of this eagerly awaited campaign, AirAsia is organizing the ‘Claw-some FREE Seats’ event at Sunway Velocity in Kuala Lumpur. This two-day event, starting today and concluding on 9 June 2024, features a giant human claw machine game, offering participants the chance to win fantastic prizes such as free flights, hotel accommodations, exclusive merchandise and more from partners like Santan, TTRacing, Montigo, Shihlin Taiwan Street Snacks, Everland Resort Korea, Elevete, Playmade, and Galaxy Macau Integrated Resort Andaz Macau. Paul Carroll, Group Chief Commercial Officer of AirAsia Group said: “The AirAsia FREE* Seats campaign aims to fulfil our promise of delivering the best value for our guests while enhancing travel connectivity across the region with our extensive network. This initiative is a powerful driver of regional economic growth, and contributes towards revitalising tourism sectors as countries catch up on post-pandemic growth opportunities. “This year, Asean tourism is expected to see a significant rebound, with Malaysia targeting 27.3 million foreign tourists and Asean as a whole anticipating over 100 million tourist arrivals. By facilitating affordable travel, we help local businesses – from hotels and restaurants to tour operators and retail shops – thrive amid recovering global travel demands. As we enter the second half of the year, we look forward to generating a positive economic ripple effect across various sectors through this campaign, contributing to the overall growth and resilience of the regional tourism industry.”​ The AirAsia FREE* Seats campaign and Big Sale kick off today, June 8, 2024, at 12 PM (GMT+8). Enhance your travel experience by taking advantage of bundled add-ons. When you book during the promotional period, you can save up to 70%*** on baggage, in-flight meals, seat selection, and travel insurance. Be sure to pre-book and take advantage of these great savings! Alongside the FREE* Seats, AirAsia is also offering fantastic hotel deals through AirAsia MOVE. Book a minimum of two nights at select hotels, and enjoy your second night for just RM9. This promotion is available for stays in Malaysia, Indonesia, Thailand, and the Philippines from June 10 to June 16, 2024, with travel valid from June 10 until December 31, 2024.

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New Vande Bharat bullet train soon,

While the dream of Vande Bharat trains has already come true, it's now time for the bullet train to take centre stage For the past decade, there has been much discussion about bullet trains and Vande Bharat trains in Indian Railways. While the dream of Vande Bharat trains has already come true, it's now time for the bullet train to take centre stage. Indian Railways is preparing to launch its own indigenous bullet train, which is expected to run at the speed of up to 250 kilometres per hour. According to reports, Indian Railways has tasked the Integral Coach Factory (ICF) with constructing two standard gauge bullet trains within the current financial year. This marks the first time that trains capable of reaching 250 kilometres per hour will be manufactured in India. These bullet trains will be operated on the Mumbai-Ahmedabad High-Speed Rail Corridor. To assist in the construction of the Vande Bharat bullet trains, Indian Railways is in discussions with Japanese rolling stock suppliers, Hitachi and Kawasaki. In 2018, the cost to build a 10-coach bullet train was Rs 389 crore, but by 2023, this cost had increased to Rs 460 crore. The bullet train project in India has faced delays. Initially, the project was slated for completion by 2022, but land acquisition issues in Maharashtra caused setbacks.

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1300-year-old centipedes discovered by archaeologists in the ‘middle of nowhere’

In a remote area of South America, archaeologists were astonished by an incredible find: a 43-meter-long engraving depicting a massive serpent. This remarkable rock painting is just one of over a thousand prehistoric engravings unearthed by a team of British-led researchers. Among these ancient artworks are depictions of giant centipedes, oversized animals, and colossal human-like figures. The discovery made along the Colombia-Venezuela border, offers fresh insights into the enigmatic civilisations of antiquity. Dr. Philip Riris of Bournemouth University, who led the expedition, expressed excitement about uncovering a previously unknown ancient culture in this remote part of South America. He hopes that these findings will shed light on the artistic and technological achievements of ancient societies, providing a deeper understanding of their heritage. Read more: Visiting these 5 Southern African countries will soon be possible with a single Schengen-like visa Of all the discoveries, the colossal serpent engraving stands out as particularly intriguing. Measuring 43 meters and located high on a 200-meter cliff, this awe-inspiring depiction is one of seven dedicated to the reptile. Researchers speculate that the serpent may have held religious significance, possibly serving as a conduit between people and the spiritual realm, mediated by a shaman. The worship of serpents, known as ophiolatry, was a widespread practice in ancient cultures worldwide, featuring prominently in religious systems and mythologies. Serpents were attributed with supernatural powers and were revered as symbols of fertility, immortality, and healing. The rock engravings, found along the Upper and Middle Orinoco River in Venezuela and Colombia, are monumental in scale, with the largest measuring over 40 meters in length. Dr. Phil Riris, lead author of the study, believes these engravings were intended to be visible from a distance, possibly serving as territorial markers or warnings to outsiders. The presence of serpentine imagery suggests a symbolic association with power and danger, reinforcing the idea of territorial boundaries. The team's discoveries have expanded our understanding of prehistoric societies in the region, mapping out 14 sites of monumental rock engravings. These sites, some previously known and others newly discovered, offer valuable insights into ancient trade networks and cultural interactions along the Orinoco River. Overall, the findings points to the importance of preserving and studying ancient rock art as a window into the past.

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Thailand opens doors: Two-month visa-free travel for Indian passport holders

Good news for Indian passport holders! Now, you can travel to Thailand for up to two months without the hassle of obtaining a visa. Sounds great, right? In a bid to boost tourism, the Thailand government has decided to open doors for individuals from various walks of life, including employees, students, and retirees, granting them the opportunity to extend their stay in Thailand. A total of 93 countries are included in this welcoming policy shift. The global tourism industry has faced significant challenges due to the COVID-19 pandemic, resulting in a decline in tourist arrivals worldwide. In response, several countries, including Thailand, have implemented new measures to boost tourism and attract visitors from across the world. These measures predominantly involve relaxation of visa regulations. Thailand's recent decision to allow remote employees, graduate students, and retirees to stay for extended periods aligns with its aim to boost tourism and bolster the economy. This progressive move will come into effect next month, offering travelers from 93 nations the chance to explore Thailand for a duration of 60 days, providing ample time to immerse themselves in its rich culture and scenic landscapes. Furthermore, remote workers will benefit from an extended visa validity of five years, with each stay limited to 180 days. Thailand, known for its affordability and allure, has long been a popular destination for travelers worldwide. In 2023 alone, the country welcomed approximately 24.5 million foreign tourists. With initiatives like these, the Thai government aspires to attract even more visitors, aiming for a target of 25 to 30 million foreign tourists annually. Bangkok - The capital city Bangkok is a vibrant blend of modernity and tradition. Explore the iconic Grand Palace, home to the revered Emerald Buddha, and wander through the bustling streets of Chinatown. Don't miss the vibrant markets, serene temples, and flavorful street food that make Bangkok a sensory delight. Chiang Mai - Set in the northern mountains of Thailand, Chiang Mai is renowned for its ancient temples, lush jungles, and rich cultural heritage. Visit the sacred Wat Phra That Doi Suthep, trek through the pristine forests of Doi Inthanon National Park, and immerse yourself in the vibrant night markets and local craftsmanship. Phuket - Phuket is Thailand's largest island and it is known for its pristine beaches, crystal-clear waters, and vibrant nightlife. Relax on the famous beaches of Patong, Kata, and Karon, explore the stunning Phi Phi Islands by boat, and indulge in water sports such as snorkeling, diving, and surfing. Ayutthaya - Historical Ruins: Step back in time and explore the ancient ruins of Ayutthaya, a UNESCO World Heritage Site located just north of Bangkok. Marvel at the impressive temples, statues, and palaces that once formed the capital of the Kingdom of Siam, and learn about Thailand's rich history and cultural heritage. Sukhothai - Ancient Kingdom: Another UNESCO World Heritage Site, Sukhothai is home to the ruins of the first capital of Thailand, dating back to the 13th century. Explore the sprawling historical park, featuring well-preserved temples, Buddha statues, and intricately carved stonework, and witness the beauty of Thai architecture and artistry. Krabi - Natural Wonders: Krabi, located on the Andaman Coast, is renowned for its stunning limestone cliffs, emerald-green waters, and pristine beaches. Discover the picturesque Railay Beach, embark on a boat tour of the famous Phi Phi Islands, and explore the hidden caves and lagoons of Ao Phang Nga National Park.

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