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economy

3 articles with this tag

Articles tagged with economy

KVIA•Dec 22

Las Palmas Restaurant Closes After 45 Years Amid Economic Challenges

Las Palmas, a beloved Cuban restaurant in downtown Miami, has permanently closed its doors after nearly 45 years of operation. The closure, which took place on November 13, coincided with the anniversary of the owner's father's birthday, adding emotional weight to the decision. Mario Magalhaes, who inherited the restaurant, cited rising costs of essential supplies and a decline in international tourism due to stricter immigration policies as key factors in the closure. Despite efforts to engage the community through events and maintain affordable prices for cultural staples like cafecito, the combination of inflation and reduced customer traffic made the business unsustainable. This closure highlights the broader struggles faced by many small businesses in the current economic climate.

Community economy community
1 min read
KVIA•Dec 21

El Pasoans Embrace Clothing Rental Apps for Extra Income and Sustainability

A growing trend among Millennials and Gen Z is the use of clothing rental apps like Pickle, allowing users to earn money by renting out their wardrobes. Emilie Nasseh, a New York resident, has made up to $2,000 a month by renting items, including luxury handbags. This trend reflects a shift towards the sharing economy, where over 230,000 items are listed on Pickle, catering to those seeking affordable luxury without the commitment of purchase. As economic pressures rise, many young adults are turning to side hustles to meet their financial needs, with a focus on sustainability and reducing overconsumption in fashion. El Paso residents may consider similar platforms to supplement their income while promoting eco-friendly practices.

Community economy fashion
1 min read
KTSM•Dec 20

Alcohol Spending Trends: Surprising Insights for El Paso Residents

A recent report reveals that Americans collectively spent $228 billion on alcohol in the past year, with California leading the way at approximately $29 billion. However, when examining average spending per adult, some unexpected states topped the list. This data is significant as it highlights spending habits and preferences that could influence local businesses in El Paso. Residents may want to consider these trends when making choices about alcohol purchases and supporting local establishments.

Business economy business
1 min read