Posts tagged with "Seven largest world economies"

Going south? Trump’s Miami resort in mix to host G7 summit

July 23, 2019

The Trump administration, which next year will host the leaders of the world’s seven most powerful industrialized economies for the G7 summit, is down to its final few choices after completing site surveys of possible locations —and Trump National Doral, the president’s 800-acre golf club in Miami, is among the finalists, Axios reported on July 22.

The G7 comprises the United States, Britain, France, Germany, Italy, Japan, and Canada—traditionally, this country’s closest allies; although President Trump has shown a preference for other nation states during his time in office.

Trump loves showing off and promoting his properties with no qualms about criticism for mixing state and personal business, and his interest in hosting the G7 at Doral was first mentioned by The Washington Post last month.

The Post also reported, on May 15, that the Doral was “in steep decline, according to [Trump Organization] documents,” with operating income down 69% since 2015.

The downturn at this Trump property “is especially significant,” the Post said, “because the resort had seemed better insulated from political backlash than other Trump properties, protected by its place in golf’s history, by its recent renovations, and by its location in a booming state that won Trump won in 2016.” It wasn’t.

Thus, the G7 would provide opportunities for extra conference bookings and worldwide publicity for the underperforming property.

This would be the first G7 summit since 2012 to be held in the United States. At that time, former President Barack Obama invited leaders to Camp David.

Research contact: @Axios