Publish Date:

Tourism is a crucial factor for a lot of economies and a main source of revenue for most countries around the world. Remarkable growth has been recorded in the tourism industry since 2017. According to a report released by the UN World Tourism Organization (UNWTO), international tourist arrivals worldwide increased by 7 percent in 2017. This result was the highest since a consistent percentage of around 4 percent was being recorded since 2010. In the first nine months of 2018, international tourist arrivals grew 5 percent year-on-year.

Publish Date:

There are five countries that the United States imports more than half of their goods from. These imports are from China, Canada, Mexico, Japan, and Germany. It imported 22% of its goods from China in 2017 which were worth $526B. It also imported 13% from both Canada and Mexico. Japan and Germany contribute a percentage of around 5%. Every single one of these countries has a comparative advantage that makes them successful exporters to the United States.

Publish Date:

Did you know that Venezuela’s inflation rate has reached a peak of 254%? Or that Andorra’s literacy rate for ages 15 and above is 100%? The Interactive Rankings page on globalEDGE is a tool that ranks countries or states according to the economy, trade and investment, energy, health, and government sectors. It has countless data on useful information that can be beneficial for students, professors, and professionals. Check out the links below to find out which country has the highest unemployment rate and which states have the highest high school graduation rates in the United States.

Unemployment Rate Rankings

High School Graduation Rankings

Publish Date:

Long distance trading began during the domestication of pack animals and the invention of ships thousands of years ago. International trade is essential for individuals, firms, machinery and technology, and to whole countries. Trade occurs due to a countries' inability to satisfy their own needs and wants with their own resources. There are two fundamental principles (Division of Labor and Specialization) that are related to the production of goods and services in countries that want to trade.

Publish Date:

The globalEDGE monthly newsletter is a great way to keep up with our most recent international business updates. This month's newsletter, coming later this week, discusses recent updates to the country trade statistics and features a blog post by Andrew Menke about the Global Coffee Industry. Be sure to subscribe via the link below to receive the newsletter directly to your inbox every month.

Publish Date:

It is not easy for a company to expand internationally and achieve success at the same time. So, what is it about Apple, Google, Amazon, and global companies that make them the successful international businesses that they are today? How have these companies mastered their global marketing strategies and expanded beyond their initial customer bases? There are several traits that distinguish companies with accelerated global growth from smaller local companies.

Publish Date:

Globalization has created a platform for the world’s corporations to become better connected and integrated. This has made it easier than ever for companies to grow and expand worldwide. This leads to an increase in demand for employees that are knowledgeable and understanding of global markets and different regions around the world. Studying international business will develop a students’ global mindset and international perspective. International business also teaches students how to deal with a variety of business strategies, management styles, and organizations.

Publish Date:

International Education Week, November 12-16, 2018 is an opportunity for universities, colleges, schools, international organizations, and businesses to celebrate the benefits of international education and exchange worldwide. This is a joint initiative by the U.S. Department of State and the U.S. Department of Education is aimed at promoting programs that prepare Americans for a global environment and attract international leaders to exchange abroad experiences.

Publish Date:

E-commerce sales have been growing over the past decade at a rapid rate and the online retail economy is booming. According to the US Census Bureau, 9.6% of all retail sales were from e-commerce sales during the second quarter of 2018. This percentage was only 4.4% in the second quarter of 2010. This post will discuss the reasons behind the shift from brick-and-mortar businesses to online retail stores.

Publish Date:

globalEDGE has gathered a list of Community College Conferences happening in 2019. These conferences are aimed at the community college audience who are refining or developing new programs in their institutions. The next conference coming up is the Workforce Development Institute by the American Association of Community Colleges which will be held in San Diego, CA.

Publish Date:

Many countries around the world motivate and support young citizens to travel and study outside their home country. Governments often invest in scholarship programs that provide students with the chance to leave their home country and learn in educationally advanced countries such as the United States, Britain, Canada, and Australia.

Publish Date:

This is the third post in a three-part series featuring our blog competition winners from Michigan State University. The author of today's post is Pujitha Kasipuram.

What is CSR

Corporate social responsibility is not a new term, as it originated back in the 1930’s where a firm tends to focus on mainly profits and private interests. According to Norine Kenney who is a part the U.S Council on International Business, “there is no solid definition of CSR; however, it is not a replacement for the governmental role and responsibility in meeting challenges of sustainable development.” This states that there is not one definition of CSR nor it substitutes the responsibility of a government. In fact, corporate social responsibility can be evaluated in many directions such as providing good working conditions to employees or how it can relate to globalization in three ways: environmental, economic, and social. With globalization and CSR, it is believed that there should be equal access to all three resources, but is this necessarily true? Since the government is not fully responsible to enforce for such issues, how can corporations be held accountable that are engaging in ethical practices? Corporate Social Responsibility varies by region, by country, and by group. It is a broad topic to discuss, but increasingly becoming important for consumers.

Publish Date:

This is the second post in a three-part series featuring our blog competition winners from Michigan State University. The author of today's post is Xiyou Xu.

The emergence of cryptocurrencies has shaken up the economic establishments around the world. In fact, the phenomenon of such virtual currencies is thoroughly studied by the economists to understand how they impact the global financial system. As a result, such cryptocurrencies like Bitcoin have been examined regarding contrast to existing physical alternatives, and various experts have responded to its uprising.

Publish Date:

This is the first post in a three-part series featuring our blog competition winners from Michigan State University. The author of today's post is Lauren Kuiper.

What does value mean to you? There are many ways to perceive value based on the company you are dealing with. For most companies, value is the foundation of the business. If the company cannot get the customer to see the value in their product or service, they will essentially fail. They need their customers and employees to believe in their product or service in order for them to be successful. For international companies, this is even more important. When operating internationally, there are many factors that go into creating value within the company. Marketing 310, an international business class that I am currently in, has helped me to understand how important creating value is for international companies because they are dealing with a wider range of customers. This post will discuss some examples of international companies who have been successful based off of their value creation and the different techniques they use.

Publish Date:

This Spring globalEDGE held our first ever blog competition at Michigan State University, where we asked students studying international business to submit blog posts to potentially be featured on the globalEDGE blog. Over the past few weeks, the globalEDGE team has been reviewing the many student submission and we are proud to announce that Lauren Kuiper, Xiyou Xu, and Pujitha Kasipuram are the three winners to have their blogs featured on the site this week.

Our team would like to congratulate the three winners and thank the many other students who took the time to submit entries.

 

 

Publish Date:

There is no doubt that companies are leaping into new international markets. There are benefits when going global and expanding including greater revenue potential, access to new talent, exposure to foreign investment opportunities, and much more. Below you will find a few important steps companies have to execute in order to enter into new international markets.

Publish Date:

Mauritius is an island nation flourishing economically and socially. The population has origins from the European and African continents, as well as from India and China which makes it unique for its social peace and multi-cultural society. Mauritius is the fastest growing economy in sub-Saharan Africa. Moreover, it has one of the highest GDP per capita incomes in Africa.  All of these facts make Mauritius a prosperous country in diversified ways.   

Publish Date:

This is the second post in a five-part blog series focused on future trends in business. 

Huge corporations are working towards achieving a sustainable business environment. This is achieved when businesses are able to manage the triple bottom line. The triple bottom line is the process by which a business is able to meet the three sustainability pillars - financial, social, and environmental efforts.

Publish Date:

There is no doubt that sports never fail to bring the world together. It provides a platform for national unity and city pride. Hosting international sports events such as the Olympics, Fifa World Cup, or the Super Bowl is the reason for a significant amount of economic development in countries. However, these economic developments can be beneficial but also very costly for host countries. 

Publish Date:

We’ve been hearing the words “Cultural Intelligence” everywhere we go lately. So what is cultural intelligence and why is it so important to global businesses?

Cultural intelligence is the ability for people, organizations, and businesses to relate to culturally diverse situations and work effectively in them. It is a vital aspect to international businesses because every country they are based in requires a different cultural approach and the ability to get well with the consumers you are working with. Global collaboration has become a significant aspect for the success of businesses and this cannot occur if businesses do not have the resources, knowledge, and talents of cultural IQ.

Publish Date:

This is the second post in a five-part blog series focused on the energy industry. 

Every day we face new problems arising from the environmental state of our world. Widespread pollution is a huge problem to our environment and there is an urgent need to start using renewable sources that eliminate the burning of fossil fuels. Geothermal and hydroelectric are renewable sources of energies and produce “clean” fuel sources.

Publish Date:

There is no doubt that studying abroad has become one of the most established business sectors in international education. The number of students studying abroad is increasing every year and this is encouraging institutions and governments to tap into the market. Becoming a part of this growing industry has a great business impact on educational institutions, organizations, and faculties.

Publish Date:

It is very likely that you will soon witness a self-driving truck next to you on the highway. The world keeps taking a step further into the tech field, sparking innovative solutions for automotive companies. The automotive industry is highly competitive and many automotive companies are working very hard to stay ahead and take part in one of the greatest advancements in trucks.

Publish Date:

Artificial intelligence is starting to have a great impact on the transportation sector worldwide. Self-balancing electric flying vehicles are pushing the future means of transportation to a whole new level. The first certified multicopter was tested in Bruchsal, Germany last year. Since then, different countries and companies around the world have shown interest in this new technology.

Publish Date:

Globalization created a platform for the world’s people, firms, and governments to become more integrated. It enhances the networks between countries and creates more opportunities. When globalization first began, the anticipated economic theory suggested that regional inequalities would diminish as poorer countries would attract investment more than the rich countries. However, we see inequalities between many countries and within many countries.

Publish Date:

Until this day, we deal with controversies on gender pay gap globally. Is the whole matter due to gender discrimination by employers or is it just a fraction of it? Does culture or family traditions play a role? Or does it just come down to the fact that women are expected to raise a family and work less, or even leave their job, at some point? These are all factors that contribute to the gender pay gap problem, however, the way people look at it has created some misconceptions.

Publish Date:

The world’s biggest and smallest shipping companies have been experiencing some hardship since the financial crisis occurred. For the past two years, shipping operators have been going through major losses with freight rates being below the breakeven point. However, it seems like a plot twist is being encountered by the shipping brokers this year due to rising demand for commodities.

Publish Date:

Milk has always been an essential part of India’s culture. In the early 1900’s, India's milk production was incredibly inefficient and was struggling with its limited production of milk. Until one individual, Dr. Verghese Kurien caused a dramatic change in his home country. Dr. Verghese Kurien, known as the Milkman of India, is also a Michigan State University alumnus. Dr. Kurien states himself that Michigan State University provided him with the best education and prepared him to achieve his dream.