The Global Business Travel Association (GBTA), along with Carlson Wagonlit Travel (CWT), has produced its annual Global Travel forecast for 2019, highlighting several key factors that they estimate will shape the global economic environment for travel in 2019.
The report notes first that one of the key risks to global economic recovery is the rise of protectionist policies and the prospect of stoking trade wars around the world. The report acknowledged that, while global trade has finally recovered to near pre-2008 levels, and is a key driver of corporate travel, any policy aimed at protectionism, or reducing the level of global trade and cooperation, will have a detrimental impact on the demand for global business travel. Earlier in June 2018, US President Donald Trump made good on his campaign promise of getting “tougher” on trade with China, by pledging to raise tariffs by up to ten percent on some US$200 billion worth of Chinese goods; and additional 35 percent of tariffs on another US$50 billion worth of Chinese goods, all of which are subject to an August, 2018 review for implementation or amendment or cancellation.
0 Comments
Your comment will be posted after it is approved.
Leave a Reply. |
Q95 NewsCurrent and past news stories. Archives
May 2024
Categories |