Our recent webinar Global Economy 2023 discussed the outlook for the global economy this year. We have received a significant amount of questions, not all of which could be addressed during the live Q&A session. This article provides some of the highlights.
China is a critical market for global travel. In 2019, outbound Chinese travellers spent more than USD133 billion, the second highest amount globally. A major obstacle to the global travel industry’s recovery from the pandemic has finally been removed. On 8 January 2023, China eliminated most travel restrictions following the end of its ‘zero-COVID’ policy. Read on to find out more.
The pandemic has impacted the traditional toys industry unfavourably in Southeast Asia, except for Singapore. This is a striking difference from other regions where a prolonged stay at home period and travel restrictions have is due mainly to economic strain which stopped consumers from purchasing non-essential goods, and the exponential rise of free-to-play video games. Despite the challenging environment, the toy industry in the region remains afloat and can look forward to the future, because of ‘kidults’.
The fourth in a series exploring the impact of hybrid work on Western European industries, this episode explores the opportunities for destinations and brands in the growing "Bleisure Travel" market.
Most markets have emerged from strict pandemic restrictions in 2022, but the expected shifts in sales of staple foods were disrupted by surging inflationary pressures around the globe, and these pressures significantly worsened with Russia’s invasion of Ukraine. As populations continue to increase and climate change exacerbates production uncertainty, producers are navigating a post-pandemic landscape characterised by higher demand, rising costs and ever-greater challenges.
The ability to add leisure to a business trip – bleisure – has traditionally been an important growth opportunity in hospitality. Now, years since the pandemic first impacted travel, corporate business working policies have changed dramatically. Tighter travel budgets and new communication technologies have diminished the need to travel for work, even as the individual interest in travelling remains. A new host of flexible working models have emerged, and hospitality players are adapting.
In 2022 societies have largely reopened, and most people are venturing outside the home again. However, the war in Ukraine and wide economic sanctions on Russia from multiple countries are adding to the aftermath of the pandemic. The cocktail of consequences facing food markets worldwide going forward spans the food supply chain, with various short-, mid- and long-term disruptors to raw materials supply, as well as manufacturing and distribution.
You need to know what to expect next year. Our expert analysts have you covered. Stream our webinar to get answers on economic trends, threats and opportunities to stay one step ahead.