Vaccine news gives a much-needed boost to the economic outlook
A health care worker injects the a syringe of the phase 3 vaccine trial, to a volunteer at the Ankara University Ibni Sina Hospital in Ankara, Turkey on October 27, 2020. This vaccine candidate developed against the novel coronavirus (COVID-19) pandemic by the U.S. Pfizer and German BioNTech company.Dougkan Keskinkilic | Anadolu Agency | Getty Images – Advertisement – However, the Pfizer news sends a signal that things could be getting back to normal sooner instead of later.“My big concern was that we would see slow growth for a long time because it would take time for the economy to adjust,” Faucher said. “If we have a viable vaccine, then we don’t have to do as much restructuring.”Good momentum despite rising casesFueled by a surge in consumer spending and residential and business investment, gross domestic product exploded at a 33.1% growth rate in the third quarter. That helped offset some but not all of the – also unprecedented – 31.4% plunge in the second quarter, brought on by a massive shutdown in March and April.The economy relied largely on accommodative fiscal measures from Congress and looser monetary policy from the Federal Reserve.Data has been almost universally positive of late, with the October payroll growth of 638,000 the latest sign of continued strength. Private payrolls actually rose more than 900,000 as part of a continuing trend in which economic reports have easily outperformed Wall Street expectations.Adding vaccine-fueled confidence to the economy provides an even stronger platform.“The big news to me is just how strong the economy already is,” said Jim Paulsen, chief investment strategist the Leuthold Group. “What’s underestimated is the lagged effect of past policies. It’s well established that there’s a pretty long lag, a year or more, on the impact of these, and we’re just entering the window of when that might show up.”Though he acknowledged that the help from a vaccine won’t be immediate, it’s “going to add a ton of stimulus to the economy just in terms of animal spirits lifting. I think you’re talking high growth,” Paulsen said.“What the pandemic did in a big way was it put corporate America into a survivability mode in a manner that has never really happened before,” he added. “What that means for profitability is it put the entire corporate world at maximum operating efficiency, maximum profit leverage, minimum breakeven points, which means that if you get any incremental demand that falls to the bottom line, it could be immense.”Markets rallied strongly on the news, with major averages approaching new highs and the Dow Jones Industrial Average nearing 30,000.‘Consistent’ with expectationsTo be sure, though, there was some caution that there’s still work to do and progress on the disease front could still come in fits and starts.“Obviously, this is great news, though I still haven’t changed my forecast as a result of it for the near term or next year,” said Mark Zandi, chief economist at Moody’s Analytics. “It doesn’t change the reality that the pandemic is raging and will likely cause business and consumers to be a little more cautious over the next two or three months while we work through this.”“I’ve long been expecting we’d have an effective vaccine or vaccines that are widely distributed or adopted by mid-next year, and I don’t think that changes that timeline, it’s just consistent with that timeline,” he added.One other question that was front of mind whether the latest developments would change Fed policy.Central bank officials have recently affirmed a policy commitment not to raise rates even if inflation starts to rise above the Fed’s 2% target or if unemployment starts to fall sharply. Stronger-than-expected economic growth could pull the Fed off its ultra-easy policy, though most of those interviewed Monday said that would be more likely come in terms of the Fed’s bond-buying and lending programs and not so much from its rate stance.“Moving from expectations to reality on the vaccine has to bring in the timeline for when the Fed thinks it’s going to begin to raise rates,” said Steve Blitz, chief U.S. economist at TS Lombard.However, he doesn’t see any major changes to Fed policy coming until at least 2022. In the meantime, he expects a gradual boost to growth with the Fed reluctant to move until it sees a much tighter labor market and a strong outlook for national health.“This is not going to change the economy in Q4 or Q1 next year. You and I are not going to suddenly go and sit in an arena with 20,000 of our best friends or sit in a bar with 100 of our best friends on top of each other drinking and yelling at each other because I’m going to get an injection in June,” Blitz said. “In terms of the broader economy, you’re going to be getting back to the world much more quickly because the damage done will prove to be less than we originally anticipated.” American business has had to retool itself greatly during the pandemic, adjusting to less travel and nightlife and more stay-at-home activities in both work life and personal life.- Advertisement – – Advertisement – “This is very good news in both the near term and also over the longer run. In the near term, we’ve seen the stock market boosted so that’s going to boost household wealth. That’s a positive for consumer spending going forward,” said Gus Faucher, chief economist at PNC Financial Services. “We’re not out of the woods, obviously. We are going to have setbacks, but hopefully this sets us on the right path.”Following a record-breaking third quarter that helped offset most though not all of the damage from the early days of the pandemic, the outlook ahead was unclear and looking dimmer. That’s because surging coronavirus cases raised the prospects of a tough winter ahead, with business slowdowns and less commercial activity as people became more cautious. The coronavirus and the economy have always been linked tightly, but the relationship took a decidedly positive turn Monday.With the news that Pfizer had seen a more than 90% success rate in its vaccine trials came the first tangible feelings that the eight-month Covid-19 nightmare was, if not nearing an end, at least loosening its death grip sometime in the foreseeable future.That’s unequivocally good news for the U.S. economy, which has been in a technical recession in February.- Advertisement –
“Given the strength of Tigray’s security forces, the conflict could well be protracted,” International Crisis Group, a non-profit organisation, says. “Tigray has a large paramilitary force and a well-drilled local militia, thought to number perhaps 250,000 troops combined.” – Advertisement –
Oct 11, 2005 (CIDRAP News) – A recent and extensive review of research on H5N1 avian influenza in humans shows the illness differs from ordinary flu in several ways, besides the most obvious fact that it is far more deadly.The report by a World Health Organization (WHO) committee says avian flu may have a longer incubation period and is more likely to cause diarrhea than typical flu viruses are, among other differences.Published in the Sep 29 New England Journal of Medicine, the review was written by experts from several countries, including Vietnam, Cambodia, Thailand, the United States, the United Kingdom, Hong Kong, and Myanmar. They reviewed 71 published studies and reports, including details on 41 confirmed human cases from Vietnam, Thailand, Cambodia, and Hong Kong.The H5N1 virus first jumped from birds to humans in Hong Kong in 1997, infecting 18 people and causing 6 deaths. In late 2003 the virus began sweeping through poultry flocks in East Asia, and since then it has struck at least 116 people and killed at least 60, by the WHO’s official count.The new report says the virus may incubate longer than other human flu viruses before causing symptoms. Incubation periods in ordinary flu range from 1 to 4 days, with an average of 2 days, according to the Centers for Disease Control and Prevention (CDC). In H5N1 cases, the incubation time has mostly been from 2 to 4 days but has stretched to 8 days, the WHO report says. In household clusters of cases, the time between cases has generally ranged from 2 to 5 days but sometimes has been as long as 17 days.Initial symptoms are more likely to include diarrhea in avian flu than in ordinary flu, the report says. The problem can appear up to a week before any respiratory symptoms. That feature, combined with the detection of viral RNA in stool samples, suggests that the virus grows in the gastrointestinal tract.Lower respiratory tract symptoms such as shortness of breath appear early in the course of the illness, whereas upper respiratory symptoms such as runny nose are less common, the article says. Also, unlike in ordinary flu cases, the virus may be found in larger amounts in the throat than in the nose.Most cases so far have been linked with exposure to poultry. Specific activities that have been implicated include plucking and preparation of diseased birds; handling fighting cocks; playing with poultry, especially asymptomatic infected ducks; and consumption of duck’s blood or possibly undercooked poultry, the report says.Blood tests of people in contact with H5N1 patients in Vietnam and Thailand have shown no evidence of asymptomatic infections. However, surveillance involving polymerase chain reaction (PCR) tests has revealed mild cases, more infections in older adults, and an increase in family clusters of cases in northern Vietnam—”findings suggesting that the local virus strains may be adapting to humans,” the article says. (The WHO first reported these findings in May; see link to more information below.)But it adds that more work is needed to confirm these findings, and so far the disease has rarely spread to healthcare workers, even when appropriate isolation measures were not used.The article says the relatively low number of human cases amid widespread infection in birds suggests that the species barrier to human cases of H5N1 is “substantial.” The authors add that family clusters of cases may be caused by common exposures rather than by person-to-person transmission.The report also discusses the “severe” lung injury found in autopsies of H5N1 victims, whose lungs become choked with debris resulting from the body’s intense response to the infection. The authors say the body’s innate immune response to the virus, involving heavy release of proteins that trigger inflammation, may contribute to the severity of the disease.Most patients hospitalized for H5N1 infection have received antiviral drugs, usually oseltamivir, the report says. This treatment appears to be helpful only when started early in the illness.Recent experiments on mice suggest that the virus has become less susceptible to oseltamivir since 1997, the article notes. To reap a similar benefit, mice infected with a 2004 strain of the virus needed a higher dosage and longer course of oseltamivir than mice infected with a 1997 strain did. Hence, the report suggests that physicians treating severe infections should consider doubling the approved dose.Oseltamivir is one of the two neuraminidase inhibitors used for flu. The other one, zanamivir, has not been studied in H5N1 cases, the report says. The two older antivirals used for flu, amantadine and rimantadine, no longer work against H5N1.Writing committee of the World Health Organization (WHO) Consultation on Human Influenza A/H5. Avian influenza A (H%N1) infection in humans. N Engl J Med 2005 Sep 29;353(13):1374-85 [Full text]See also:May 18, 2005, CIDRAP News story “WHO: Pandemic threat may be growing”
The agency said it was still working on a proposal to broaden its feed ban so that ruminant protein would be banned from all animal feeds, not just ruminant feeds. The BSE case, Canada’s fifth, was discovered on Apr 16. In announcing the closing of its investigation of the case on Jun 16, the CFIA said the case fell within the same “geographic cluster” as the other four. It involved a 6-year-old purebred Holstein dairy cow in southwestern British Columbia. May 1, 2005, CIDRAP News story “USDA seeks Canadian-born cattle in BSE probe” Jun 20, 2006 (CIDRAP News) Canada’s latest case of bovine spongiform encephalopathy (BSE), or mad cow disease, probably resulted from contaminated feed, which might have linked the case with the nation’s previous one, according to the Canadian Food Inspection Agency (CFIA). The fourth BSE case, according to Reuters, involved a Holstein-Hereford dairy cow in Alberta, which is a source of feed for British Columbia livestock. See also: “Investigators also identified a feed ingredient supplier common to this case and Canada’s fourth BSE animal, confirmed on January 22, 2006,” the report continued. “This potential link suggests that all of Canada’s BSE cases fall within the same geographic cluster, which is reflective of feed sourcing, production, and distribution patterns.”
Given its age, the British Columbia cow was born after Canada in 1997 banned putting protein from cows and other ruminants into cattle feed. But the investigation, according to the CFIA, found high compliance with the ban. “Such findingswhich have been observed during other investigations and regular inspections of feed mills, renderers, and retailers across the countryconfirm the presence of limited opportunities for contamination during feed manufacture, transportation, storage, and use,” the CFIA said. The CFIA said it had identified 148 animals linked with the infected cow, including its herd mates and recent offspring. Of those, 22 live animals were located; all tested negative for BSE. One additional cow is pregnant and will be tested once it has calved. The CFIA examined records concerning feed to which the infected animal would have been exposed early in its life, when cattle are most likely to contract BSE. “While a specific source of infection was not found, investigators determined that vehicles and equipment used to ship and receive a variety of ingredients likely contaminated cattle feed with the BSE agent,” the agency said. Of the remaining cows, 77 had died or been slaughtered, 15 were exported to the United States, and 33 were untraceable, according to the news release. The US Department of Agriculture said in April it had found one of the animals exported to the United States and was looking for the 14 others.
Feb 20, 2009 (CIDRAP News) – The US Centers for Disease Control and Prevention (CDC) today reported a spike in the number of pediatric influenza deaths, an increase that mirrors a continuing rise in flu activity across the nation.The CDC said it received six reports of influenza-related flu deaths in children during the week ending Feb 14, though one occurred during the 2006-07 flu season. The remaining five deaths raise the number of pediatric flu deaths this season to nine.Bacterial coinfections were confirmed in six of the nine children; four involved Staphylococcus aureus, two of which were methicillin resistant. All of the children who had coinfections were age 5 or older.In May 2007, the CDC issued an alert after noting a sharp increase in the number of S aureus infections in children who had the flu during the 2006-07 season, though the total number of pediatric flu deaths that year was similar to the previous two years. Twenty children that season died of bacterial coinfections, 16 of which were S aureus.Meanwhile, other states reported more new pediatric flu deaths, which will likely be included in upcoming CDC weekly influenza updates.Colorado’s Department of Public Health and Environment (CDPHE) yesterday announced that four Colorado children have died from influenza-related complications this flu season. The first occurred in mid January, and the last was reported on Feb 18, the CDPHE said in a press release.The CDPHE said the state’s number of pediatric flu deaths has already topped the past four flu seasons, which averaged two fatalities per year.Three of the children were toddlers, and one was an infant. Two of the children had received partial vaccines (one of two recommended doses), and the other two were unvaccinated. At least two of the children had serious underlying medical conditions, the CDPHE said.Ken Gershman, chief of the CDPHE’s communicable disease program, said in the press release that child flu deaths are tragic, because the disease is often preventable. Last year the CDC expanded its flu vaccination recommendation to include all children from ages 5 though 18. It had already recommended flu immunizations for younger children between the ages of 6 and 59 months.”The single best way to protect yourself and your family from the flu is to get the flu vaccine, and it’s not too late,” Gershman said.Over the past few days other states have reported more pediatric flu deaths, including:Massachusetts, where a 12-year-old boy died on Feb 16, according to the Boston Public Health CommissionArizona, where a teenager from Coconino County died last week, according to the Arizona Department of Health ServicesTexas, where a 12-year-old boy from Amarillo died on Feb 18, according to a report today from the Amarillo Globe-NewsNationally, the number of states reporting widespread flu activity rose to 24, 8 more than the previous surveillance week that ended Feb 7, the CDC reported. Most of the hardest-hit states are in the eastern part of the country, except for Texas, Colorado, and Nevada. Thirteen additional states reported regional influenza activity.Nearly all (98.5%) influenza A/H1N1 samples that have been tested showed resistance to oseltamivir (Tamiflu). Of viruses that have been antigenically characterized, all influenza A/H1N1 and influenza A/H3N2 viruses matched the vaccine components.However, only about a third of the influenza B viruses match the Yamagata lineage that is included in this year’s vaccine—the rest were from the Victoria lineage.See also:CDC influenza surveillance report for Feb 8-14Feb 19 CDPHE press releaseFeb 19 Arizona Department of Health Services press releaseFeb 17 Boston Public Health Commission press release
Aug 21, 2009 (CIDRAP News) – The World Health Organization (WHO) yesterday released new guidelines for using antivirals to treat patients with novel H1N1 influenza infections, signaling a shift toward reserving the medications for people with severe infections and those at high risk for complications.The new recommendations for managing pandemic H1N1 infections with antivirals are included in a 91-page document on pharmacologic management of all influenza types. An earlier document on clinical management of novel flu patients, issued in May about a month into the novel flu outbreak, briefly reviewed the role of antivirals, but did not give detailed information about their use in different patient populations.The WHO, in a briefing note today on the new guidance, said the new guidelines were developed by an international expert panel that reviewed all available safety and efficacy studies. They focused on the neuraminidase inhibitors, oseltamivir and zanamivir, because the pandemic H1N1 virus is susceptible to both drugs (and is resistant to the older adamantane drugs). The panel concluded that both drugs can significantly reduce the risk of pneumonia and the need for hospitalization.Healthy patients with uncomplicated infections should not be treated with antivirals, the group wrote. Some countries, such as the United Kingdom, have been prescribing oseltamivir for any patient with a suspected or confirmed novel flu infection.For patients who have severe illness or are in a deteriorating condition, the WHO recommends oseltamivir treatment as soon as possible, preferably within 48 hours, though the drug should still be given even if started later.Pregnant women and those with underlying medical conditions such as asthma, obesity, or diabetes should be treated with oseltamivir or zanamivir as soon as possible after the onset of flulike symptoms, the WHO experts advise.Because about 40% of severe case are occurring in otherwise healthy children and adults, the WHO urges healthcare providers to be alert for sudden deterioration in clinical condition, which would warrant higher doses and longer duration of oseltamivir treatment than normally prescribed. Danger signs include symptoms such as shortness of breath, difficulty breathing, changes in mental status, and a high fever that persists.The WHO noted that two recent reports in medical journals raised questions about the usefulness and side effects of antivirals in children. The expert panel considered those reports in making its recommendation that children who have severe or deteriorating illness, plus those who have underlying medical conditions, receive antiviral treatment, the agency said. However, the group said healthy children older than 5 years should not be given antivirals unless their illness persists or worsens.See also:Aug 21 WHO briefing note on antiviral treatment recommendations for novel fluAug 20 WHO recommendations for pharmacologic treatment of novel H1N1 and other flu viruses
As part of the Eco Domus eco-accommodation certification project, launched last year by the Istria County Department of Tourism, training for renters and local tourist communities was held in Ograda agrotourism in Katun Lindarski, and 11 certificates, ie tables and promotional materials were awarded. to mark eco-friendly accommodation.For this purpose, criteria for the implementation of certification, visual identity and project logo were developed, and a public call for expressions of interest for inclusion in the project was conducted last year. 13 landlords applied for the public call and were provided with free advisory services on the adaptation of their facility for obtaining the eco-label, and after the evaluation of all received applications, 11 facilities were selected that met the criteria, which are: Villa Baldaši from Baldaši (Vižinada), Villa Milica from Šajini (Barban), Villa Ladonja from Manjadvorci (Barban), Apartment Margerita from Bezjaki (St. Peter in the Forest), House Una from Kranjčići (Svetvinčenat), Villa Dubravka from Pinezići (Tinjan) ), Agrotourism Ograde from Katun Lindarski (Pazin), Villa Marten from Brajkovići (Kanfanar), Apartment Oliveto from Medulin, Villa Dolce Vita from Motovun and Villa Gašparini from Cerion (Višnjan).This is a continuation of the activities started with the Istra Bike & Bed project with the aim of diversifying and raising the quality of private accommodation in the Istrian County in accordance with the principles of sustainable tourism development, the Istria County Tourism Department points out. at least 11 basic criteria in 50 categories.Eco Domus is focused on small tourist accommodation facilities, and its goal is to encourage private renters to diversify and raise the quality of accommodation through compliance with the principles of sustainable development and sustainable tourism. “Sustainable tourism development is very important because it meets the needs of tourists and the domicile population. It seeks to manage resources in such a way that economic, social and environmental needs are met by maintaining cultural integrity, basic ecological processes, biodiversity, and the systems on which life rests.”Conclude from the Administrative Department for Tourism of the Istrian County.
The interactive map “Authentic Istria”, intended for cycling enthusiasts, was created in cooperation with the LAG of Central Istria, ie as part of the INSiGHTS project, and it contains bike and trail trails of the tourist boards of Motovun, Central Istria and Žminj. Sustainable Development Strategy coming soon As for other facilities, two more cycling events are planned. “This year, on the occasion of the folk festival Bartulja, the MTB and the family bicycle race Bartulja will be held on August 25, 2019. It will have two routes; family shorter and lighter and MTB. As every year, there will be a Gastrotura S piruonon in Žminjšćine. It will be held on September 22, 2019, the week before the Day of the Municipality, ie its patron Saint Michael“They conclude from the Žminj Tourist Board. On the map there is also a QR code with which outdoors fans can educate outdoors about the offer on and along the Žminj trails – churches, frescoes, chapels, lookouts, caves, boška, town center, restaurants, bike & bed accommodation, agritourism, wines , cheese, donkey milk, etc. The project “INSiGHTS – Integrated Strategies for Slow, Green and Healthy Tourism” (Integrated, Slow, Green and Healthy Tourism Strategies), is aimed at developing attractive tourist destinations through the development of strategies that will focus on the protection of natural and cultural resources. The total value of the project is 2,3 million euros, and the share of the LAG Central Istria is 160.000 euros. The Administrative Department for Tourism of the Istrian County participates as an associate partner in the project, and the Tourist Board of Central Istria, the Tourist Board of Motovun and the Tourist Board of Žminj are involved in the implementation, which will work together on a sustainable tourism strategy. The strategy will include guidelines for healthy, green and slow tourism as one of the fastest growing trends in tourism, for which central Istria has a very good potential. You can find the interactive map “Authentic Istria” HERE. “At the moment, three bicycle paths have been arranged in the area of the Tourist Board of the Municipality of Žminj; Rumenija 652 (8 km long), Žminjka 5 (653 km long), and trail 23 Žminj – Feštine (651 km long). These almost 24 km of bicycle paths are also intended for pedestrians. They pass by natural beauties such as caves, ponds, lookouts and forests, but also by agritourism that offers accommodation, meals and wine, dairy, Robinson tourism, bike & bed accommodation, bed & breakfast accommodation, apartments, holiday villas, family farms with an offer of sausages and prosciutto, a studio that sells “Žminj rice”; a replica of the Žminj earring found in the middle of the last century in the old Croatian cemetery in Žminj. The trails pass along the oldest Istrian Calvary, the oldest church in the Žminj region; the church of St. Foška, as well as the chapels of which there are more than a hundred in this area. Cyclists will also go through the road; paved street in the picturesque old town, next to the canonical house, the church of St. Anthony the Abbot from the 60th century rich in frescoes, with the oldest depiction of a musical instrument in Istrian painting in general. It will not bypass the walls of the castle, nor the tower of the feudal castle from the 14th century“, Explain the Tourist Board of the Municipality of Žminj. “Along the trails it is possible to taste the rich gastronomic offer of this area; cheese, cottage cheese, sausages, bacon, prosciutto, wine and pasta; that is, macaroni from Žminj. All these bike paths are marked and arranged.” When asked about the next steps for the development of cycling tourism, the Tourist Board of Žminj reports that the Operational Plan of Cyclotourism of Istria from 2019 to 2025 includes Žminj projects such as paved pump track polygon, arrangement of bike rest areas, setting up e-filling station, bike share point, arrangement bicycle-educational trails on the roads of the Austro-Hungarian border, and MTB trail park Žminj – Draga. Source / photo: TZ Žminj; authentic-istria.com; lag-sredisnjaistra.hr
Croatia has chosen a pavilion in the thematic area “mobility” thus defining the theme of the concept of representation of the Republic of Croatia. Mobility is with “sustainability”I”possibility”One of the three sub-themes of the main theme of the World Exhibition:“ Connecting People, Creating the Future ”. Hrvatska će se na izložbi EXPO Dubai 2020., koji će na jednom mjestu okupiti po prvi put sve svjetske zemlje te na kojem se očekuje više od 25 milijuna posjetitelja, predstaviti kao zemlja koja inspirira velike umove – “Inspiring great minds”. Attachment: EXPO 2020: Tender for the selection of bidders for the development of the conceptual concept of the representation of Croatia Dansa je Hrvatska turistička zajednica objavila “Natječaj za odabir ponuditelja za izradu idejnog koncepta programa događanja kojima bi se Republika Hrvatska predstavljala na EXPO 2020 u Dubaiju, njihovu provedbu i organizaciju te prikupljanje sponzorskih sredstava za financiranje događanja”. The competition is open until January 31, 2020 at 12 noon. See more about the competition in the attachment. Ove godine u srpnju je izabrano idejno rješenje hrvatskog paviljona, a za izradu idejnog rješenjea, prema odluci Nacionalnog odbora RH za Svjetsku izložbu EXPO 2020 Dubai, izabrana je Zajednica ponuditelja REAL GRUPA d.o.o. CONCEPTED CONCEPTUAL SOLUTION FOR THE EXPO 2020 DUBAI PROJECT RELATED NEWS: CROATIA SELECTES PAVILION FOR EXPO 2020 WORLD EXHIBITION IN DUBAI
The webinar is free and can be followed without prior registration via the link https://bit.ly/3erRBkh Almir Peštek, Bosnia and Herzegovina, Professor and Consultant, Faculty of Economics in SarajevoMili Bijavica, Bosnia and Herzegovina, Director of Fortuna Tours doo Mostar and President of the Professional Group of Hospitality and Tourism at the Foreign Trade Chamber of BiHBerina Bajrović, Bosnia and Herzegovina, Executive Director Europa doo Sarajevo – hotels Europe, Holiday, Art, Astra and Astra GarniAzra Džigal, Bosnia and Herzegovina, President of the KS Tourist BoardMaja Uran Maravić, Slovenia, Professor of Tourism and Consultant, Faculty of Tourism Studies – Turistica PortorožDamir Krešić, Croatia, director of the Zagreb Institute of TourismGoran Rihelj, Croatia, founder of the tourist portal Hrturizam.hrSmiljana Pivčević, Croatia, Head of the Department of Tourism and Economy, Faculty of Economics, Split,Nedo Pinezić, Croatia, Family Tourism Advisor and Founder of the Croatian Association for Family Accommodation at the Croatian Chamber of CommerceRanko Jovović, Montenegro, President of the Board of the Tourism Association at the Chamber of Commerce of MontenegroSlavica Vukčević, Montenegro, Executive Director of Montenegro Adventures The Business Academy of the Faculty of Economics, University of Sarajevo is organizing the Regional Webinar “Tourism – a New Beginning”, which will bring together prominent regional experts and tourism professionals. Get involved and be a part of the regional webinar “Tourism – a new beginning” Moderator: Jasna Kovačević, professor, Faculty of Economics in Sarajevo The crisis should also be seen as a challenge “Tourism – a new beginning” Therefore, the goal of the webinar “Tourism – a new beginning” is to stimulate discussion on future development directions and possible solutions in order to overcome the negative consequences of the crisis as soon as possible through presentations of panelists – prominent regional experts and tourism professionals. According to a survey conducted in Sarajevo, tourism workers believe that the 2020 tourist season can be considered a failure, and 80% expect a reduction in business between 60% and 100%. Given the integration nature of tourism and its connection with other sectors, the negative effects in the tourism industry will have a direct impact on other areas, as well as on overall employment and economic growth. Monday, 27.4.2020 at 11.00. / Access is via a web browser and there is no need to install additional applications. Expected duration is 150 minutes. The tourism industry is facing a crisis that has led to major economic and social consequences in the short term. In less than eight weeks, 83% of the world’s destinations have implemented travel restriction measures. In addition to the need to involve the public sector in preserving economic activities and jobs, it also seems necessary to think differently and change existing business models in order to recover and maintain the long-term success of tourism businesses. According to estimates by the World Tourism Organization (UNWTO), the global decline in tourist arrivals will be between 20% and 30%, or between 290 and 440 million arrivals, but can be expected to be even greater. Panelists: The name of the webinar symbolically indicates the need for a new approach and a fresh start to tourism in the region. 