Global growth in consumer health is expected to reach 2% in 2021, up only slightly from 1.8% in 2020, as the fitful pace of reopenings over the course of 2021 allowed for marginal improvements in consumer spend in categories suppressed during the height of the pandemic in 2020. The persistence of the spread of Coronavirus (COVID-19) and the still-ongoing efforts to vaccinate consumers across the globe have limited the pace of growth in 2021.
The travel industry has been decimated by the pandemic, being the first to close and the last to reopen. Euromonitor research forecasts that international tourism spending is expected to claw back some ground to reach USD635.4 billion in 2021. Nevertheless, it remains precariously 63% below 2019 levels in real terms.
Since the Global Financial Crisis in 2008, the global economy has experienced some slowdowns and shifts in trade and investment flows, driven mainly by a wave of new technologies, changing global economic power and public concerns. Now Coronavirus (COVID-19) has turbocharged a globalisation reset, revealing the fragility of global connectivity, and prompting countries and businesses to rethink their trade, investment and operation policies. Understanding the forces shifting the global landscape and how globalisation is transforming will help business and investors prepare for the next phase of globalisation and the opportunities and challenges it will present.
The US travel industry saw a strong recovery in the summer of 2021, largely due to the strong performance of domestic leisure travel. This blog looks at some of the most common questions about how the pandemic has changed travel in the US, from where travellers stay to how long it will take for the industry to recover fully. The piece investigates what the “new normal” for travel will be in the US, and considers how travel’s recovery could be hampered by the COVID-19 Delta variant.
The Coronavirus (COVID-19) pandemic has caused massive disruption to lifestyles, industries and the type of sustainability priorities for companies both globally and in Southeast Asia. In the immediate period, beverage companies have prioritised social issues such as employee wellbeing and community support ahead of the usual environmental issues such as sustainable packaging. This trend could continue for some time, before a gradual shift back to environmental priorities, as company continue working towards their longer-term sustainability goals.
Even as more countries are expected to have recovered from the Coronavirus (COVID-19) pandemic in Q3 2021, the momentum of the recovery is likely to have peaked, due to the spread of the highly contagious Delta Coronavirus variant, slowdown in vaccination campaigns in advanced economies and low vaccination rates in developing countries.
As the pandemic has impacted our lives, so it has impacted our food choices. Coronavirus (COVID-19) continues to shape our environment, accelerating and consolidating emergent trends into longer term probabilities. The pre-pandemic "normal" for eating out is unlikely to return for some years to come, and three in four food industry professionals think that health and wellness will remain a paramount concern through to 2025.