Data Visualization

Blog of the Data Visualization & Communication Course at OSB-AUB

“This is my favorite part about analytics: Taking boring flat data and bringing it to life through visualization” John Tukey

Revitalising Cyprus: AUB Mediterranean’s Strategic Solution for Economic Growth

Revitalising Cyprus: AUB Mediterranean’s Strategic Solution for Economic Growth

by | Nov 18, 2023 | Visualization

Introduction

 

Cyprus’s GDP growth rate has been on a decline, with more recently negative growth rates. My team of reaserchers and I need to find out why, and the potential solutions to improving the GDP in the upcoming years whilst tackling the root cause.

 

GDP: Downward trend

Evidence for this decline in GDP growth rate is shown through visualising the data. I discovered that the decreasing growth rate is correlated to the increase % dependancy age of old people (65+) in the working force over the years . Hence the working force tend to come from senior workers who have a higher probabilty of retiring, overall affecting productivity and efficiency.

 

Solution : AUB Mediterraneo

 

Opening Universities such as AUB campus in Cyprus, to get Lebanese people out of the bad economical state of Lebanon whilst getting their education from Cyprus along with a stronger passport by the end of it. This also allows Cyprus to get a working force coming from the younger more revitalised workers hence improving efficiency and overall GDP.

Validation

 

The solution is validated by gathering data regarding the average age of the labor force , and noticing if theres a decrease in age range. Also by monitering the GDP, looking for any improvements that is a result of an increase dependancy on our younger labour force.

 

Further recommendations

 

Moreover due to the decrease of birth rate seen in the visualisation, I recommend that the government incentivises the locals to reproduce. Through offering assistance allowance for parents with more children.Therefore when old enough to work they can contribute to the GDP. Cyprus’s working age is 15, they can reduce it to 13 to get more efficient workers whilst improving the overall GDP.

 

National Debt & Population Income

National Debt & Population Income

by | Apr 15, 2022 | Generic, Visualization

Does a Country’s Borrowing Policy Affect its Population’s Income level?

The Case of Lebanon

 

DOLLAR? LBP?       

WHAT’S THE EXCHANGE RATE TODAY?

DISCOUNTING CHECKS? AT WHAT RATE?

WHAT????     20%????

THIS MEANS I’M LOSING 80% OF MY MONEY!!!

I WAS DOING OK BUT NOW I CAN BARELY MAKE ENDS MEET…  

 

This has unfortunately been the sad reality that
theLebanese people have been living for since
October of 2019.

 

WHY?

 

Because a Banking | Financial | Currency | Crisis

Made a Huge Bubble Burst!                                             

 

 

BUT HOW DID WE GET HERE?

Lebanon has had a budget deficit for over 20 years
and has been borrowing from external parties
for as long as we can remember.

So, as Lebanese citizens, we are born indebted.

 

A country’s national debt affects its population’s income level:

  • Growing debt has a direct effect on economic opportunities

  • If high levels of debt crowd out private investments, workers would have less to jobs do and therefore earn lower wages

Countries with LOWER DEBT exhibit HIGHER INCOME levels per capita.

 

SO HOW HAS LEBANON’S DEBT BEEN CHANGING OVER TIME?

 

WHAT CAN WE DO TO MAKE THINGS BETTER?

Potential Solutions include but are not limited to:

  • Supporting Production and Services Sectors leading to more Job Creation and eventually More Wages

  • Improving Trade Agreements leads to more exports which would Reduce Budget Deficits and make the country economically healthier

  • Attracting Foreign Direct Investments by providing a healthy capital market (ex: improving Reporting Practices) which leads to More Investments & More economic opportunities, More Jobs and eventually More wages

 

IS THERE PROOF?

                                            

Countries with Open Trade Policies seem to have higher income levels

 

Countries with Updated Reporting Practices also have higher income levels

SO, WHAT ARE THE RECOMMENDATIONS?

STOP borrowing from international Agencies

CONTROL High National Debt Levels

 

Implement Policies to boost the economy

Startups; A Remedy for the Lebanese Economy?

Startups; A Remedy for the Lebanese Economy?

by | May 10, 2021 | Dashboard

Could startups be a remedy to the Lebanese economic situation?

Lebanon has been facing an unparalleled situation for the past 2 years. Since the October uprising in 2019, it has been a steep downhill for the Lebanese Economy. Looking at the country’s GDP, we notice that the Lebanese economy was flourishing prior to 2017. However, since 2018, the GDP annual rate has decreased exponentially to reach a rate of 25%. These trends can also be seen in the Lebanese unemployment rate, where the rate decreased slightly prior to 2017, but then dramatically increased to reach 40% by the end of 2020.

Obama once said, “Small businesses are the backbone of our nation’s economy…”. Therefore, we will be monitoring the effects of new businesses and startups on the unemployment rate and GDP.

Studying the situation in the United Kingdom, for example, we see that as the number of new businesses registered increases, the unemployment rate decreases. Similarly, looking at the effect on GDP, we see that new businesses have a positive influence on the countries GDP. Looking at the global trends of the time to start new businesses, we see that there is a global positive change in trying to decrease the amount of time required for new businesses to get up and running, which doubles down on the importance of new businesses and ventures. However, unlike the global trends, in Lebanon, the time to start a business has been constant at 15 days for the past 12 years.

Now that we have seen that startups decrease unemployment and stimulate GDP growth, and there is a global positive shift to ease starting new businesses, the Lebanese government plan of action should be:

1) Reduce time to have startups active and running
2) Provide easy availability of loans for new businesses
3) Reduce taxes on new businesses

to provide an environment that attracts startups and in turn improve the Lebanese economy.

Start-Up Bureaucracy in the MENA Region

Start-Up Bureaucracy in the MENA Region

by | May 10, 2021 | Visualization

Local media outlets tend to praise Lebanon as the regional leader in entrepreneurship. Yet it seems that executives and board members tend to disagree with the headlines. They have openly criticized the media for spreading misconceptions, explaining that Lebanese start-ups struggle to sustain themselves due to governmental intervention, ancient business laws, and the absence of free economic zones. So I thought, why not harness the power of data to see where things really lie? Are laws interfering with Lebanon’s competitive ability? Using the World Development Index, Lebanon’s performance was evaluated through the number of governmental procedures required to register a start-up, and benchmarked with two of its main rivals: KSA and UAE. We observed the development of this metric over time from 2003 until 2019. Lo and behold, though it was the reigning champion a decade ago, Lebanon now significantly lags behind both its competitors. Lebanese Laws must be amended to streamline start-up registration procedures, or the country will be out of the race to assert itself as the regional entrepreneurial hub it once was.