How To Build A Tourist Destination And More

Now You KnOW features quick insightful takes on the issues of the day that matter most to you.    

Weekend must read 

Kuwait’s inbound tourism ranks among the lowest of its GCC peers at approximately 5% of GDP. By developing its tourism industry, Kuwait has the potential to diversify its revenue streams and decrease its outbound travel. A key tenet of diversification is the full revamp of its tourism strategy. This includes introducing new and unique offerings that reinvigorate the traditions and values that make the nation distinctive to tourists, residents, and investors. 

Did you know?  

We estimate that global technical debt has roughly doubled from 2012-2023, growing by approximately $6 trillion 

Organizations burdened by complex systems, the cost of maintaining them, and a workforce specialized in these systems may struggle to scale, innovate, and swiftly adapt in competitive markets. We recommend that organizations undertake several key actions to manage their technical debt effectively. 

Industry briefing 

Optimizing convenience retail: The convenience retail industry is grappling with labor shortages, post-pandemic employee burnout, and decreased job satisfaction. These issues have strained operational efficiency. To address these issues a comprehensive reassessment of the industry’s most valuable asset, its people, is a top priority. 

Health systems' maelstrom: Despite margins slowly returning to profitability, 40% of US hospitals were still operating at a loss earlier this year. Ratings agencies consider 2024 a critical year for hospitals to rebound, not only from the staggering financial hit of the pandemic but also from ongoing operational struggles including rising drug and labor costs, the impact of Medicaid redetermination, and more. We’ve identified eight impacts and their implications for leaders.  

Corporate scoop 

Human connection is vital in B2B: While businesses aren't people themselves, they consist of people with needs and aspirations. Once you start thinking about them that way, providing for their needs becomes much more sensible — and just as critical as it is for consumer-oriented companies. Here, we suggest three steps to create truly customer-centric solutions for business customers. 

The new (soda) pop sensation: While traditional soda remains a beloved beverage, our increased awareness of sugar’s negative effects has led to a surge in consumer demand for better options. OLIPOP is shaking things up with its healthier sodas and fun, nostalgic branding. And consumers are taking note; the brand is set to hit $500 million in sales this year and was recently named one of Time's 100 most influential brands. Here, David Lester, co-founder president of OLIPOP, shares the inspiration behind the brand, the importance of embracing failure, and how he leads by example. 

Oliver Wyman in the news 

Financial Times: Vitol’s senior employees paid a record $6.4bn last year

NBC: Rich Chinese travelers are flocking to Tokyo to take advantage of the weak yen

South China Morning Post: Alliances like Nato out of touch with world in need of human security

Grocery Dive: Pardon the Disruption: Grocers need to rethink alternative store formats

Management Today: The round-up: smart thinking without the reading

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