With the recent announcement from Louis Vuitton on future price increases, Euromonitor explores the future of how we access luxury goods with COCOON founder Ceanne Fernandes -Wong, exploring luxury goods, the circular economy and insights on luxury handbag rental trends.
The global economy faces new headwinds following the Russian invasion of Ukraine in February 2022, while the COVID-19 pandemic is not yet over. The war in Ukraine and its resulting sanctions imposed on Russia are projected to cause accelerated energy and commodity prices, further disruptions in global supply chains and reduced business and consumer confidence.
Travel and tourism was poised for an upturn in 2022, as it hoped to put the pandemic behind it. However, new threats have recently emerged that will delay the much-needed recovery.
This blog post comments on the macroeconomic implications of the Ukraine-Russia conflict
Both Russia and Ukraine are important suppliers of commodities, agricultural goods and manufactured goods to the global economy. Russia’s invasion of Ukraine and economic sanctions will have a negative impact on supply chains and are likely to impact a wide array of industries, ranging from food products to hi-tech goods. In addition, the invasion adds more pressure to global logistics and the transportation network.