According to McKinsey's analysis, tourism is expected to return to pre-pandemic levels by 2024. Depending on how efficient sanitary control is, recovery could be earlier. The study suggests that the first thing the tourism industry should focus on is local travelers.
Chile's centre-left became the great winner of second round regional elections held Sunday after winning most of the governorships, including that of the capital, with 99.9% of votes counted. The Constituent Unit pact between left and centre parties won in Santiago de Chile, where Christian Democrats candidate Claudio Orrego got 52.7% of votes. This is the first time in history Chile elects its intermediate authorities instead of appointing them via the government.
With a month and a half to finish the first 10% withdrawal of pension funds, 90% of the affiliates have completed this pricess while the remaining 10% (1.2 million peope) have not. In total, $21.128 billion have been paid.
According to the National Labour Demand Survey (Enadel), more than 20% of companies in the trade, forestry and agriculture sectors expect to increase their workforce this year. 38% of trade companies and 44% of companies related to forestry and livestock reported difficulties in filling vacancies. This is due to a lack of interest in the industry or inexperienced candidates applying.
Volkswagen, Daimler, BASF and Fairphone have initiated a partnership for sustainable lithium mining in Chile. The "Responsible Lithium Partnership" aims to promote the responsible use of natural resources, including lithium, in Chile's Salar de Atacama. The four initiators have commissioned the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) to coordinate the partnership and set up a so-called multi-stakeholder platform comprising all relevant actors in the Salar watershed – from civil society groups, including indigenous communities, to government institutions and mining companies. According to Volkswagen, the “Responsible Lithium Partnership” started in spring 2021 and has a planned duration of two and a half years.
Chile's head of energy and mining ministries announced that non-conventional renewable energy sources (NCRES) will account for 40% of its energy matrix by 2030. In the coming weeks, the government will submit to Congress a bill that seeks to double the national electric system's proportion of NCRES, from 20% to 40% by the end of 2030.
LATAM Airlines Group said that it had sought to extend the deadline to present its restructuring plan as part of the bankruptcy protection process initiated in 2020 until September. LATAM filed for bankruptcy protection in the United States in May of last year, hammered by the world travel crisis generated by COVID-19. A judge had previously ordered the company deliver its restructuring plan by the end of June, and the company has said it hopes to wrap up the process in 2021.
Santander Chile goes back to international markets and successfully issues CHF 150 million ($167 million) Senior Notes due in 2027, with a spread of 62 basis points above the Mid-Swap, which is equivalent to a coupon of 0.33%. The transaction was carried out with the advisory of Credit Suisse AG and Commerzbank AG. This signifies a return of the Bank to the international public debt market since January 2020 and is the first operation of Santander Chile in Switzerland since August 2019.
Shopee, the e-commerce arm of Southeast Asia's Sea Ltd, will launch in Colombia and Chile. The company plans to offer online sales via its website and localised apps. Social media pages for Shopee Colombia and Shopee Chile said the company would offer free shipping in the countries.
The World Bank raised its growth projections for Chile to 6.1% in its "World Economic Outlook" report for June 2021. The reason for the increase is that vaccines continue to be delivered at a robust pace and private consumption is boosted by the pension withdrawals allowed during the pandemic.