I know you don’t want to hear, but while we’re excited about our economic outlook for tourism that looks promising and is rebounding faster than expected, the flipside to this story is the failure of supply-chains to keep up with surging demands of everything from corn, to steel, to computer microchips. China is even considering invading Taiwan in order to take the microchip industry over, because the car industry is stuck without them, and Taiwan is the main manufacturer.
These micro-chip with millions of smart circuits are in just about everything we buy and use, thus the demand.
The global economy slowed down in 2020 and is rebounding now faster that the shipping companies thought. They planned on a longer recovery period, are no face a surge, resulting in increased transportation costs.
I am not kiddin’ you. The above subject has been discussed in every newspaper and media outlet under the sun, we are just going to experience a huge price increase on food, packaged goods, clothing, electronics, everything
Thank you, Covid19 for that.
With Aruba importing just about everything this will have a profound effect on prices on everyday goods and availability. If hotels and businesses cannot get products, how will this affect tourism? And if they do get those much needed products, how will that affect consumer prices?
Some headlines I found lately, from April 2021.
Attention shoppers: Price hikes are ahead, but consumer companies hope you won’t notice
U.S. consumer prices post biggest gain in 8-1/2 years as economy reopens
Diapers, Cereal and, Yes, Toilet Paper Are Going to Get More Expensive
https://www.nytimes.com/2021/04/29/business/consumer-goods-prices.html
If you need a new car or a new giant TV buy now from the old stock, at the old prices, don’t wait, and if you can wait, delay, delay, delay, until the prices normalize in 2022.
