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 remains moderate, with uneven prospects across the main countries and regions. It is projected to be 3.5 percent in 2015, in line with forecasts in the January 2015 World Economic Outlook (WEO) Update. Relative to last year, the outlook for advanced economies is improving, while growth in emerging market and developing economies is projected to be lower, primarily reflecting weaker prospects for some large emerging market economies and oil-exporting countries.