Global Travel Highlights – August 2021
Recovery in both domestic and international travel is underway in the second half of 2021, despite some larger adverse impacts for the year to date than previously expected.
What you will learn from this report:
- Growth in domestic travel in 2021 will be key to reviving the travel industry.
- Vaccination success has strengthened the international travel recovery’s potential.
- Europe is expected to enjoy the most robust recovery in international travel by 2024.
- Downside risks have eased but remain present.
BoK’s monetary policy to tighten even as hiking cycle ends
Even without rate hikes, central banks' monetary policies can effectively tighten if the nominal neutral rate falls below the policy rate. We expect this will be the case for the Bank of Korea this year, as the gap between the policy rate and the nominal neutral rate widens.Find Out More
China: Emerging green shoots in Spring, but not out of the woods
We now incorporate a faster recovery from the post-Covid exit wave and raise our 2023 full-year GDP growth forecast to 4.5% (from 4.2% previously).Find Out More