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Asia Leading The Economic Recovery As Western World Still Hunkering Down

Asia Leading The Economic Recovery As Western World Still Hunkering Down

Asian manufacturing, led by China and India, is on the upswing as numerous restrictions remain in important U.S. states like California, and the U.K.

Last week’s manufacturing PMI data showed there is a global rebound in activity that continued into September as lockdown restrictions are lifted, primarily in Asia. Manufacturing PMIs have broadly moved higher into expansionary territory globally, and that does include here at home. Improvements in domestic and external demand are the drivers.

Business sentiment in Asia are improving more than they are in any other emerging market, supported by the reopening of India even as the coronavirus case load remains high. Death tolls and hospital rates remain manageable enough to lift restrictions, even as some have argued that India was doing so too soon.

Strong demand for goods from China, either on the export side, or from local demand, is helping with the global recovery story. China will be the only G20 nation to post positive GDP numbers at year’s end, according to the Organization for Economic Cooperation and Development.

Continuing improvement in new orders, boosted by pent-up demand, low inventory levels and a recovery in international trade, should help keep that momentum in manufacturing for the rest of the year, says

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Colombia’s creative industries set to conquer the western hemisphere

Colombia’s creative industries set to conquer the western hemisphere

MIAMI, Oct. 8, 2020 /PRNewswire/ — The Latin American Creative Economy Summit, which is part of Cartagena+, will host nearly 70 Colombian creative industries exporters. These entrepreneurs will have the opportunity to present their service portfolios to 50 international regional buyers at the virtual business roundtable to be held on October 26 and 27 this year.

Marketing services, digital marketing, and audiovisual production, among others, will be the calling cards of the creative industries exporters at +Cartagena’s virtual business roundtable, organized by ProColombia.

Fifty international buyers are expected from around the Americas, including the United States, Guatemala, the Caribbean, Canada, Argentina, and Brazil.

“In response to the pandemic, many companies have started to quickly implement digital assets such as websites, e-commerce functions, digital content, customer emails, WhatsApp sales, activation of new social networks, etcetera. We want to show the world the wide array of quality, creative digital entrepreneurs in Colombia who, thanks to their talent, have excelled in the world’s top markets,” said Flavia Santoro, President of ProColombia.

Santoro added that advertising sector exports from Colombia have shot past US $100 million in the last five years and in 2019 the United States accounted for almost 50% of exports in advertising services in Colombia. “Colombian advertising agencies are a shining light in Latin America because their innovation and content are at the forefront of the latest consumer trends, generating worldwide recognition for the Colombian ad industry,” said Santoro.

Colombia also tops the eMarketer Latin America Digital Spending Update Q2 2020 report list of investment in digital advertising, with an increase of 11.2% over Q1. Colombia is followed by Chile, with a rate of 5.9%, showing the former’s advantage in this arena.

An IBOPE report indicates that Colombia is third in Latin America for highest expenditure in the advertising sector, surpassed

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