Tourism has evolved over the past decades into one of the fastest-growing sectors in the world and a transformative force in global development. More than one billion people travelled the world in 2012. Tourism represents today up to 9 percent of global GDP in direct, indirect and induced impacts), 30 percent of service exports and employs 1 in 11 people around the world.

On the morning of August 17th most of India’s economic policymakers gathered in the prime minister’s house in Delhi. They were there to launch an official economic history of 1981-97, a period which included the balance-of-payments crisis of 1991. The mood was tense. India, said Manmohan Singh, the prime minister, faced “very difficult circumstances”. “Does history repeat itself?” asked Duvvuri Subbarao, the outgoing head of the Reserve Bank of India (RBI). “As if we learn nothing from one crisis to another?”

Dumitru Condrea has big plans, but an even bigger problem. After six years working in civil society, the affable 25-year-old activist says his hope for change has eroded. He says he loves his country, but has run out of options. “If you want to change something, you need money. And I can’t make money here in Moldova.”

On the face of it, the pundits appear to have got their projections for Latin America’s two biggest economies upside down this year. Mexico, which started with the most promise, unexpectedly suffered a 0.7% slump in the second quarter compared with the first three months, according to data released on August 20th, due to a slump in construction, mining and exports. Brazil, which has been the subject of much hand-wringing since China’s demand for commodities collapsed, is expected to show decent growth when second-quarter figures are published on August 30th.

In 2025, France will have no unemployment, no debt, and tapping the housing market will be a "pleasant" experience - a tleast according to four of its government ministers. The finding came after France's president, Francois Hollande, asked his ministers to present their "holiday homework" on Monday, which was an essay entitled "What is your vision of France in 2025?" Happily for Hollande, the general tone of the homework suggested everything will be just grand in 2025.

When the banking and economic crisis broke around the world in October 2008, few imagined that its recessionary effects would linger for as long as they have. In Europe, and particularly in some eurozone countries, people accustomed to years of relative prosperity have had to get used to harsh government austerity measures, wage freezes and job cuts.

The strength in U.S.-Brazil relations remains in the shared values of the two nations, says U.S. Secretary of State John Kerry. On his first visit to the country as secretary of state, Kerry said Brazil and the United States “share a remarkable and dynamic partnership” — one that should not be derailed by inevitable disagreements. “I ask the people of Brazil,” Kerry said in Brasilia August 13, “to stay focused on the important realities of our relationship, the bilateral relations between our countries which continue to grow stronger and stronger.”

The neighboring border states of New Mexico and Chihuahua are working together to build a binational community unlike any other in the Southwest. The plan is centered around an industrial complex arising outside the town of Santa Teresa in Southern New Mexico. In a joint appearance at the Santa Teresa airport Friday, Chihuahua Governor Cesar Duarte and New Mexico Governor Susana Martinez announced their plans for the binational community.