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Absa Group's Russon on Earnings, South Africa's Economy

Absa Group's Russon on Earnings, South Africa's Economy

Bloomberg12-03-2025
Charles Russon, Interim CEO at Absa Group speaks with Bloomberg TV's Jennifer Zabasajja on the Horizons Middle East and Africa show about the company's latest earnings, expansion plans and the challenges Absa Group faces in the various markets in which the bank operates. (Source: Bloomberg)
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Bad Bunny is making Puerto Rico the hottest trip of 2025
Bad Bunny is making Puerto Rico the hottest trip of 2025

USA Today

timean hour ago

  • USA Today

Bad Bunny is making Puerto Rico the hottest trip of 2025

When we talk about tourism trends, we usually focus on airlines, prices and algorithms. But what if the most significant driver of travel to a destination wasn't an ad campaign or a seasonal super deal, but its people represented by an artist? That is precisely what's happening in Puerto Rico. Bad Bunny's residency, "No me quiero ir de aquí," in San Juan, is not only breaking records in sales and attendance, but has become one of the most powerful economic and cultural catalysts the island has seen in recent years. Its impact is not anecdotal: according to an analysis by Moody's Analytics cited by Bloomberg, Puerto Rico is defying the tourism slowdown that many markets in the United States are experiencing. While hotel occupancy in several U.S. cities has decreased, in Puerto Rico it has increased. And it's no coincidence. While the World Travel & Tourism Council projects a loss of $12.5 billion in international travel spending this year in the United States, Puerto Rico is headed in the opposite direction. According to Discover Puerto Rico, the island recorded a 25% increase in hotel occupancy in the first quarter of 2025 and an 11% growth in lodging revenue, compared to the same period last year. At a time when the global tourism economy is showing signs of cooling, Puerto Rico stands out as an example of how culture can become a real economic engine. The experience is worth it The Puerto Rican economy, historically tied to the ups and downs of the U.S. economy, rarely grows on its own. But this time, there is a cultural factor that is tipping the balance: identity. Bad Bunny's new album, in addition to being a musical phenomenon, is a declaration of principles – a love letter to his homeland. From the lyrics to the visual promotion, the artist has made it clear that traveling to the island is more than tourism: it is an experience, it is pride, it is connection. Those of us who work in the travel and digital content industries need to reflect. For years, the equation seemed simple: look for the cheapest fare, even if the trip was mediocre. But the consumer has evolved. Today, more than ever, it wants to save, yes, but without sacrificing what really matters: experience. Travel should be transformative, not transactional. Travelers want to get to know a country, not just visit it. They want to savor its cuisine, understand its history, and walk its streets with local music in the background. Bad Bunny has organically created that with his music and platform. It has turned Puerto Rico into an emotional desire, not just a geographical destination. At a time when so many tourism markets are facing decline, Puerto Rico is teaching us a powerful lesson: culture drives the economy. Authenticity isn't just good for the soul; it's also good for hotels, restaurants, and airlines. The future of tourism is not measured only in hotel occupancy or the number of flights. It is also measured in songs, in identity, in how a place makes us feel. That's why, when we hear about Bad Bunny, let's remember that his impact goes far beyond reggaeton: he's redefining how and why we travel. Wilson "Wil" Santiago Burgos is the founder of one of the largest travel platforms in Puerto Rico and the Latin American market in the U.S.

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