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.
Our Global Economic Forecast reports highlight quarterly macro changes across key markets. For our Q2 2022 edition, we consider the economic implications of the war in Ukraine and the potential impact of a global stagflation scenario.
The global economic outlook at the end of 2021 remains constrained by an ongoing mismatch between consumer demand and the availability of certain services.
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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.