High inflation, increased interest rates and weakening GDP growth are very present issues global economies are facing. To what extent these factors will impact other areas like consumer confidence, supply chains and more will depend on a range of domestic and international variables.
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The global 2021 real GDP growth baseline forecast has remained roughly unchanged over the last quarter at 5.8% and real GDP growth of 4.7% in 2022. The stable 2021 global outlook combines major upwards revision to the Eurozone, Brazil and Mexico countered by substantial downgrades to the outlook in India and other Asia Pacific economies.
Post-pandemic, there has never been a more critical time to understand consumers’ travel preferences and habits. Everything has changed, especially consumer values and priorities.