Lebanon’s economy was struggling before the catastrophic explosion on August 4. Severe cash shortages, a widening gap between official and parallel market exchange rates, increasing poverty rates, high unemployment, and periods of high protest activity have impacted Lebanon over the past year. Inflation is high and many assignees have to use unfavorable rates when purchasing at least a portion of their goods.
2020 has been a devastating and unpredictable year for the global economy as we wade through the deepest global recession since the Second World War. Widespread lockdowns, the oil price war rolling into the collapse of demand, and the devastation of hospitality and tourism industries have all created an unprecedented and uncertain start to the second decade of the 21st century.
Data Points brings you the latest updates from our Housing, Goods & Services, and Tax departments. These highlights are based on our expert international surveys, which are conducted on location by our global data collection team.
AIRINC recently conducted a benchmark survey on COVID-19’s impact on mobility and remote work. We had over 180 companies participate from a variety of industries. Here’s what I found interesting for the Oil & Gas industry.
We are living in a challenging environment. Many companies are taking the opportunity to review their mobility policies to ensure their provisions are still aligned with market practice and/or are looking to reduce costs.
During the recent APAC Online Summit hosted by FEM, AIRINC's Vice President Asia Pacific, Fred Schlomann, provided a wide-ranging interview on Virtual Assignments.
In May 2020, I conducted a remote housing survey of Stockholm. I read extensively about Sweden’s herd-immunity approach to COVID-19 and how the government is not enforcing business closures.
Beginning in mid-March 2020, any resident arriving in Hong Kong from abroad is required to undergo compulsory quarantine if not demonstrating any symptoms as decided by the Department of Health. After returning from my international travels in June, I had to go through mandatory screening procedures and a 14-day quarantine before returning to work in the office.
AIRINC recently conducted rental market updates across Europe and Asia and, in many places, life was getting back to normal.
Air travel during the COVID-19 pandemic is unique and full of odd experiences. A few weeks ago, I was lucky (or unlucky?) to experience international air travel for the first time in months.