Latest update: 19 January

 According to China’s General Administration of Customs, the country’s trade surplus rose to $676bn in 2021, the highest since records began.

 Goldman Sachs estimates that the Chinese economy will grow by 4.3% in 2022, which is a downward revision from its previous estimate of 4.8%.


 According to the ONS, the UK’s economy grew by 0.9% in November 2021, surpassing its pre-pandemic level GDP.


 According to the World Bank, the real GDP growth rate of the Indian economy is forecast at 8.3% in FY22 and 8.7% in FY23.

- SECTOR IMPACT: Travel and tourism -

Latest update: 2 February

International travel impact


Expedia Group increased its Q3 2021 sales and marketing spend by 150% YoY, to a staggering $1.3bn.


According to GlobalData, total global hotel revenue in 2021 was projected to be at 63% of 2019 levels.


There is uncertainty over the length of travel restrictions, and the indication is that measures will be in place even when travel fully opens back up.

Long-Term IMPACT

Intermediaries are seen by many as a necessary aid when booking, so demand will return. Direct bookings with providers could increase due to the flexible cancellation policies offered.

Key travel and tourism market developments