IMF Forecast: Global Recession in 2023

The International Monetary Fund (IMF) cut its global growth forecast for 2023 amid colliding pressures from the war in Ukraine, high energy and food prices, inflation and sharply higher interest rates, warning that conditions could worsen significantly next year.

“For many people, 2023 will feel like a recession,” said IMF Research Development Director Pierre-Olivier Gourinchas.

The latest World Economic Outlook forecasts show that a third of the world economy will likely contract by next year, marking a sobering start to the first in-person IMF and World Bank annual meetings in three years. The IMF said global GDP growth next year will slow to 2.7 per cent, compared to a 2.9 per cent forecast in July, as higher interest rates slow the U.S. economy, Europe struggles with spiking gas prices and China contends with continued COVID-19 lockdowns and a weakening property sector.

2019 Shot Show Begins on Jan. 22 in Las Vegas

 

The 2019 Shooting, Hunting and Outdoor Trade (SHOT) Show runs from Tuesday, January 22, through Friday, January 25, at the Sands Expo and Convention Center in Las Vegas.

The SHOT Show is owned and sponsored by the National Shooting Sports Foundation®, trade association for the firearms, ammunition, hunting and shooting sports industry. The show is produced and managed by ConvExx.

The 2019 SHOT Show will have more than 1,600 exhibitors on the exhibit floor and more than 2,000 total when including the Suppliers Showcase. SHOT is the largest event held at the Sands Expo and Convention Center. Total exhibit space for the 2019 show is expected to be more than 630,000 net square feet—equivalent to more than 13 acres, the area covered by the New Orleans Superdome, the base of the Great Pyramid of Giza or England’s Windsor Castle.

For more information, visit the Show’s Website.








Virgin Voyages to Create 300 Jobs at New Headquarters in Florida

 

Florida Governor Rick Scott recently announced that Virgin Voyages, a new cruise company by the global Virgin brands, has selected Plantation, Florida, for its new headquarters, which will create 300 new jobs. The company will also invest $15.9 million in the local community.

Governor Scott said, “I am proud to announce that Virgin Voyages has selected Florida to locate their new headquarters, which will create more than 300 new jobs for families in South Florida. As a top tourism destination, the gateway to Latin America and one of the most business-friendly states, Florida is the best place for Virgin Voyages’ new headquarters.”

Thomas McAlpin, President and CEO of Virgin Voyages said, “Virgin brands have a long history of raising the bar in every industry we enter. We are proud to bring that mindset to the South Florida community and introduce new jobs and business opportunities to the area.”

Richard Branson, founder of Virgin said, “We basically decided, ‘Let’s have a blank sheet of paper, let’s create the kind of voyage company that we would like to go on,’ and that’s what we’ve done.”

Virgin Voyages cited the strength of Broward County’s diverse, educated and multicultural workforce, infrastructure, quality of life, proximity to major seaports and a competitive tax and business environment as strategic reasons for headquarters location. Virgin Voyages will be hiring a range of roles in different departments from Finance to Customer Care.

This project was made possible through partnerships between the State of Florida, the City of Plantation, the Greater Fort Lauderdale Alliance and Broward County.

Peter Antonacci, CEO of Enterprise Florida, Inc., said, “Broward County is the ideal location for Virgin to launch its new cruise line Virgin Voyages. Enterprise Florida’s Board of Directors are enthusiastic that Florida won this exciting new project.”

VISIT FLORIDA President & CEO Ken Lawson said, “Virgin Voyages decision to open headquarters in South Florida is fantastic news for tourism in our state. At VISIT FLORIDA, we are marketing the diversity and beauty of our state to the rest of the world. By creating more opportunities for travelers from around the world to experience Florida, Virgin Voyages is helping us make Florida the number one global destination, and I look forward to their continued success.”

Cissy Proctor, Executive Director of the Florida Department of Economic Opportunity, said, “Congratulations to Virgin Voyages on locating their new headquarters in the Sunshine State. South Florida is an excellent choice for growing a company, with its strong business community and robust workforce. We look forward to your success.”

Bob Swindell, President and CEO of the Greater Fort Lauderdale Alliance said, “Congratulations Virgin Voyages, we are thrilled to be home to a company with the great potential to reinvent the cruise industry under the iconic Virgin flag.”

Mayor Diane Veltri Bendekovic of the City of Plantation said, “Plantation has a long reputation as a location of choice for game-changing companies like Virgin Voyages. We look forward to their success and are proud to be home to the newest Virgin brand.”

Mayor Beam Furr of Broward County said, “We’re glad that Virgin Voyages and other major global companies continue to choose Broward County for their headquarters operations. We look forward to the company’s continued growth as part of an important targeted industry for our community.”

Virgin Voyages’ first ship, of about 110,000 gross tons, will arrive at PortMiami in 2020. The ship will host more than 2,700 sailors and 1,150 spirited crew members. The first ship in the fleet will offer a range of Caribbean itineraries to ports that deliver Virgin styled and deeply social experiences. Future sailors are invited to check out Virgin Voyages by visiting www.virginvoyages.com or follow @virginvoyages on Instagram, Twitter or Facebook.