UN Trade and Development (UNCTAD)

The Digital Economy Report 2024 underscores the urgent need for environmentally sustainable and inclusive digitalization strategies. Digital technology and infrastructure depend heavily on raw materials, and the production and disposal of more and more devices, along with growing water and energy needs are taking an increasing toll on the planet. Developing countries bear the brunt of the environmental costs of digitalization while reaping fewer benefits. UN Trade and Development (UNCTAD) calls for bold action from policymakers, industry leaders and consumers. It urges a global shift towards a circular digital economy, focusing on circularity by design through durable products, responsible consumption, reuse and recycling, and sustainable business models. Explore the Digital Economy Report 2024: unctad.org/der2024

Safe travels: Why we all need the United Nations tourist protection code. With the summer holidays starting, the #WeeklyTradecast looks at travel and consumer protection rights with Alicia Gomez Alapont, Legal Counsel at UN Tourism. With millions of people on the move this summer, many holiday makers have no idea of their rights or the protections in place when something goes wrong. During the pandemic, millions of flights were cancelled and many tourists stranded abroad. The crisis exposed the disparities of consumer rights, highlighting the need for an international legal framework to help tourists in distress. Tourism is worth nearly 10 trillion US dollars and provides work for more than one in 10 people, so there's an economic urgency to keeping the industry moving and consumers confident, especially in Developing countries where tourism can make up a major part of the economy. Listen in to Alicia Gomez Alapont for more on how an international code to protect tourists – created by the United Nations – offers better legal support in a world with new risks from technology and the rise of online tourism. https://ow.ly/u1Vl50SKcEf

Check out the 10 key takeaways from the first UN Global Supply Chain Forum, which addresses solutions for escalating disruptions in supply chains. This event was co-organized by UN Trade and Development (UNCTAD) and the Government of Barbados, in collaboration with 103 partners. Learn more at https://ow.ly/aVzc50SJWSM #UNSupplyChain

Honored to participate in the #G20 Development Ministerial Meeting. It's inspiring to see more women leading delegations. These women leaders play a key role in the G20 discussions on critical issues such as reducing hunger, inequality, and poverty; combating climate change and managing energy transitions; and promoting global governance reform.

It’s travel season again. Rebounding strongly from the COVID-19 pandemic, the tourism sector is booming with millions more holidaying as summer gets underway in the Northern Hemisphere. The sector, according to UN Tourism, directly contributed an estimated $3.3 trillion to global GDP in 2023, with total export revenues at $1.7 trillion – about 96% of pre-pandemic levels in real terms. But international tourism, which powers economic growth and sustains livelihoods in many developing countries, is not without its challenges. Convened by UN Trade and Development (UNCTAD), intergovernmental experts examine the much-needed work when it comes to promoting sustainable consumption and production, as well as safeguarding the rights of tourists as consumers. “Consumer protection does not just protect tourists themselves but is beneficial to all as it improves the overall living environment and business that protect consumer rights are more competitive,” says Teresa Moreira, head of competition and consumer protection at UN Trade and Development. Here’re four ways to better protect consumers in tourism: https://ow.ly/tzVX50SJQFx

Foreign direct investment (FDI) in Latin America and the Caribbean remained stable in 2023, totalling $193 billion, according to the latest World Investment Report. Greenfield FDI, where a company sets up new operations abroad, saw increased announcement values in the region – driven by large projects in Brazil and Chile. With global demand growing, commodities and minerals critical for clean energy technologies were the top sector accounting for 23% of the region’s greenfield project value over the past two years. The share is more than twice higher than in other developing regions. Investment in renewable energy was also prominent, with four of the top ten announced projects (by value) relating to the production of green hydrogen or green ammonia. In 2023, Latin American and the Caribbean attracted 19 megaprojects valued at more than $1 billion each, with 17 of them undertaken by investors outside of the region. By FDI stock, the United States, Spain, the Kingdom of the Netherlands, and Luxembourg were the top investors. Full story: https://ow.ly/BRwX50SBKUH

The United Nations welcomes the establishment of the Global Alliance on Hunger and Poverty as a key means to move the needle forward on the Sustainable Development Goals. Today, almost 700 million people still live in extreme poverty; nearly 1 in 10 people face hunger across the globe, every single day. The United Nations is committed to using its network of UN Country Teams to support national governments to advance the objectives of the Global Alliance. Through cooperation and partnership exemplified by the Global Alliance, we can continue to make history by ensuring that future generations can live in a world of dignity: free from poverty and hunger. #G20

At a round-table discussion with stakeholders during the ongoing first session of the Preparatory Committee for the 4th International Conference on Financing for Development #FfD4 in Addis Ababa, UN Trade and Development (UNCTAD) emphasized the role of global trade as an engine for sustainable development. The organization will support the process for #FfD4 to be held in Spain next year, addressing new and emerging issues and the urgent need to fully implement the 2030 Agenda to support the reform of the international financial architecture. https://ow.ly/zVvt50SJuK3

Today, the Global South represents 40% of economic output, with more trade between Southern countries than Northern ones. South-South and trilateral cooperation are not just a new way of doing cooperation; they are an important part of our future of cooperation. UN Trade and Development (UNCTAD) proudly helps developing countries use a common framework to measure and enhance the visibility of South-South cooperation. https://ow.ly/5Q8w50SJqxU #G20

While the value of global services trade expanded in 2023 – by 8.9% worldwide, and 9.5% across developing economies – merchandise trade fell by 4.6% globally and 6.3% in the developing world. Structurally weak economies remained marginalized in world trade. In 2023, small island developing states accounted for 3% of global exports of merchandise and services, while developing economies collectively represented 40%. Despite growth in absolute terms, the share of least developed countries (LDCs) in global exports has stagnated at around 1% since 2011. Explore the data & analysis of the SDG Pulse 2024: https://ow.ly/IKcI50SElE2