traction, buoyed by both domestic and international factors. However, the business sector faced rising challenges, namely various forms of competition, a borderless marketplace within the ASEAN Economic
International Monetary Fund (IMF) thus revised downward its global economic growth projection for 2019 to 2.9 percent – the lowest level since the global economic and financial crisis in 2008- 2009. For the 2020
of 2018, close attention was paid to uncertainty surrounding US trade policy with its major trade partners, especially China. Most recently, the World Economic Outlook of the International Monetary
Economic Outlook of the International Monetary Fund for October 2019 cut this year’s global economic growth projection to 3.0 percent from the previous forecast of 3.2 percent. The figure is the lowest
global economic slowdown, the coronavirus disease (COVID-19) pandemic severely affects the tourism industry. The World Tourism Organization has assessed the likely impact of the COVID-19 that international
-China trade negotiations and Brexit risks. The World Economic Outlook of the International Monetary Fund revised downward its global economic growth projection for 2019, to 3.3 percent from the previous
prospects were apparent in the US, the Eurozone, Japan and many other Asian countries. The International Monetary Fund therefore upgraded its global economic projection for 2017 to 3.6 percent. The US economy
. Worse, Brexit risks became heightened in the wake of political change in the United Kingdom. The World Economic Outlook of the International Monetary Fund cut its 2019 global economic growth projection to
sharp contraction in the first quarter of 2020 as economic activity was crippled due to efforts to control the spread of COVID-19. The World Economic Outlook of the International Monetary Fund estimated
, China, Japan and other Asian countries. Meanwhile, the World Economic Outlook of the International Monetary Fund in July projected that the 2017 world economy would grow around 3.5 percent. Over the