Jo-Ann P.’s Post

What is the Longitudinal Indicators for the Visitor Economy (LIVE) Framework? "Historically, the progress and sustainable development of the visitor economy has primarily been measured and understood in economic terms. However, in recent years, there has been increasing recognition, both domestically and internationally, that understanding the overall health of the visitor economy requires the collection and reporting of a wider range of metrics and indicators. The Longitudinal Indicators for the Visitor Economy (LIVE) framework aims to provide that more complete picture. It does this by measuring and reporting on social, environmental and institutional factors, alongside the more traditional economic considerations. These additional factors also increase awareness of issues considered important for the sustainable development of the visitor economy." Read more 👇 https://lnkd.in/g73akJUw

In the lead article of the Dec. 2024 issue of “Employment in New York State,” I look at some important trends in New York State’s travel and tourism sector. Consultant McKinsey & Company notes that the global travel and tourism sector has come “roaring back” from the ill effects of the pandemic. Against this background, a 2024 report from Tourism Economics found that 3 important metrics — visitation, direct spending, and total economic impact — have increased in NYS every year since the pandemic, and all 3 were above pre-pandemic levels in 2023. In addition, the Empire State was the most popular destination among overseas visitors in 2023, easily topping #2 Florida and #3 California. In the regional article, Kevin Alexander, our Capital Region labor market analyst, does a deep dive on the economic impact of the region’s rapidly growing semiconductor sector. For example, the Albany Nanotech Complex has received several large awards from the federal government under the CHIPS and Science Act that have helped to position the complex at the forefront of American domestic innovation. To learn more, see the Dec. 2024 issue of EINYS, which is now available at: https://lnkd.in/esM4GmhJ

A while ago we designed a global city ranking index for 51 large cities across the globe. This index captures pre-pandemic economic performance, and projects post-pandemic economic recovery consisting of three subcategories: Pandemic Impact Score, Pre-pandemic Economic Performance Score, and Projected 2020 GDP Score. Looking onward at the current post-pandemic world, what cities do you think are outperforming earlier expectations? Explore the detailed story map here: https://lnkd.in/dS9PNGTm Credits: Caroline Vanterve, AICP & Sarah Cammarota

Why is this the case? A clear explanation 👇 - Urban Centers Major cities like New York, Tokyo, London, and Shanghai are economic powerhouses, driving innovation, finance, and commerce. - Infrastructure and Resources These regions often have superior infrastructure, access to resources, and advanced technological capabilities, making them prime locations for business. - Talent Hubs They attract top talent from around the world, fostering a culture of innovation and productivity. - Global Connectivity With better connectivity and transportation links, these areas facilitate international trade and investment. - Economic Clusters Industries tend to cluster in specific regions, creating synergies and boosting productivity and growth. - Investment Magnet High economic activity attracts more investment, creating a virtuous cycle of growth and development. - Government Policies Favorable policies, economic incentives, and stable governance in these regions create an environment conducive to business. - Cultural and Educational Institutions: World-renowned universities and cultural institutions further drive economic activity by fostering education, research, and cultural exchange. Ok, but what does this mean for your future? Opportunities for Growth: There's immense potential for other regions to develop and contribute more significantly to the global economy. Sustainable Development: It's crucial to focus on sustainable urban planning and development to support these high-density economic zones. Global Balance: Diversifying economic activity can lead to a more balanced and resilient global economy. This fact underscores the importance of strategic planning, innovation, and investment in key regions to drive global economic prosperity.

In some cases I do refer to cultural issues. I agree with this article AND think we have cultural issues around how we engage, leverage and trust that #innovate is good. What do you think? Great read 📍

Great work by Maggie Switek and her team at the Milken Institute! I can't help but notice a shift in the rankings. The cities that were thriving and dominating the economy before the pandemic (San Francisco, New York, Chicago, Boston, Los Angeles, San Jose, etc.) all end up at the bottom of this year's ranking! The geography of the US economy seems to changing at a fast pace. The previous change saw the decline of the Midwest and the rise of the Sun Belt, triggered by a deep sectoral transformation of the economy. What do you think is causing today's pattern? WFH alone seems very weak to explain the magnitude of the effects. I believe there might be other factors at play. #cities #economics #geography

🌟 Estero's Economic Evolution: Projects Shaping 2025 🌟 Explore the transformative journey of Estero from the insights of Estero Life Magazine's "Economic Outlook 2025": 1. 2024 Recap: The year set a strong foundation with increased business activity and community engagement, paving the way for future growth. 2. Infrastructure Projects: Major developments are on the horizon, including enhancements in transportation and public spaces, aimed at improving resident quality of life. 3. Real Estate Surge: Anticipate a significant rise in both residential and commercial properties, fueled by the groundwork laid in 2024. 4. Economic Diversification: Beyond tourism, 2025 will see expansions in tech, health, and education sectors, promising a more resilient local economy. 5. Community-Centric Growth: The focus is on sustainable development, ensuring Estero's growth benefits all residents. 🔗 Learn more about what's coming next for Estero here: https://lnkd.in/erNRY_3s 👉 Which of these developments are you most excited about? How do you see them impacting Estero's future? Let's talk in the comments! #Estero

Most U.S. metros are sprawling by international standards. The U.S. population grew rapidly in the 20th century, alongside development of the automobile and the highway system. Infrastructure growth, plentiful available land and the American Dream of single-family homeownership pushed development away from city centers and into suburban and exurban areas. As the suburbs became favored places for families to grow, many cities were relegated to primarily being business and cultural hubs.

It was great to attend Committee for Sydney's event for the launch of the “Transforming Sydney’s Economy Report’ with presentations by Eamon Waterford, Jeremy Gill, Professor Eric Knight, Penny George, Dr. Rob Stokes and Ingrid Marsh.     👇 Key insights included:  • The economy is not an optional extra. To truly transform Sydney’s economy, it must be a core policy focus, together with other priorities such as housing and energy transition. •Sydney is a significant and complex economy that is undergoing an exciting period of transformation. This will require us to rethink how we shape future economic success. • For Sydney to be a highly functioning, inclusive and dynamic global city, all industries must be planned for. We must now turn our minds to planning for the next 20-30 years with a particular focus on some key industries such as:   o Financial services and fintech   o Net zero & clean energy technology   o Bio-medical technologies and life sciences   o Digital technologies   o Advanced manufacturing  •While Sydney and Australia already have significant investment in all these sectors, effective planning and targeted investment will be critical in realising this opportunity and enabling Sydney to reach its full economic potential.     We are sure the freshly released Transforming Sydney’s Economy (https://lnkd.in/gZFdG_Hg) will continue to spark conversations and encourage innovative ideas and solutions when planning for Sydney’s future economic success, both at a regional level and on the global stage. Ben Hendriks Matthew Salamone Jessie Wiseman Paige Matthews

Economic Output in the Porto Region is now 16.2% of national GDP Data from the Porto Economic Bulletin, compiled by the Municipality, covering demographics, talent, health, macroeconomics, transactions, businesses, tourism, infrastructure, real estate, and sustainable development, also show a 2.4% increase in the population in 2023 due to immigration. The population now stands at 248,769 residents, with nearly 23,000 attracted by the city's appeal to foreign populations. Based on tourist overnight stays, commuter flows, and resident population estimates, around 400,000 people are expected to circulate in Porto daily. Tourism records show 2.8 million guests, 15.2 million passengers at Francisco Sá Carneiro Airport, and 434.7 million euros in tourist accommodation revenues. The data confirm economic growth in the AMP since 2018, with regional wealth increasing by over 12% between 2021 and 2022. The 40 billion euros represent 16.2% of the national GDP. Companies in the region attracted 4.3 billion euros in investment, a 10% increase in just one year, with a quarter of that capital corresponding to Foreign Direct Investment (FDI) projects, creating nearly 6,000 jobs. In 2023, there was a 5.8% increase in the number of companies established, reflecting a surplus balance of 49.5% when comparing established and dissolved companies. Know more in https://lnkd.in/dhxvH4g4