Global Growth
• The IMF predicts global GDP to grow by 3.8% in 2014
• BRICs is expected to drive economic performance 2015-2017
• Americas - demand is likely to outpace supply
• Europe - arrivals and incoming receipts have started to pick up
• Middle East - shift away from Egypt, Syria and Lebanon towards the Gulf markets
• Africa - business tourism plus decreasing incomes and urbanization are driving domestic travel
• Asia - remains the leading global region for economic growth
• India - travel and tourism is rebounding
Global growth is projected at 3.3 percent in 2015, marginally lower than in 2014, with a gradual pickup in advanced economies and a slowdown in emerging market and developing economies. In 2016, growth is expected to strengthen to 3.8 percent.