- ECONOMIC IMPACT -
Latest update: 15 September
After months of decline, GDP estimates for many countries have turned positive: the consensus forecast for world GDP growth in 2021 is 6%
Polls show that technology will change job prospects over the next three years, with AI expected to bring a change to job prospects
World economic growth is projected at 5.7% in 2021, according to HIS Markit.
The unemployment rate in OECD nations stood at 6.2% in July 2021, down from 6.4% in June 2021
Impact of Covid-19 on EMPLOYMENT OUTLOOK
- SECTOR IMPACT: TRAVEL AND TOURISM -
Latest update: 3 September
Impact on airlines
There have been slight improvements for certain airlines worldwide over the past few months but the industry still faces a long-winded recovery. Demand is still down for international travel due to government-imposed travel restrictions.
The loss of business travellers continues to drive airline ticket prices down to offset losses. Airline prices are not expected to recover until at least 2022, so the recovery will continue to be gradual.
IMPACT ON INTERMEDIARIES
Intermediaries have long supported the idea or have been working towards a form of 'super app'. This app would act as one, integrated platform that would enable a customer to freely book each aspect of their trip, travel and pay their way throughout their holiday.
In order to stimulate customer demand, many intermediaries are incorporating more offerings to ensure a more seamless travel experience. International travel demand remains low meaning the outlook is still not rosy.
KEY TRAVEL AND TOURISM DEVELOPMENTS