economic forecast
IMF Cuts Forecasts for German Economy This Year and Next
October 22, 2024
By Maria Martinez NEW YORK (Reuters) -The German economy is expected to stagnate this year, the International Monetary Fund said on Tuesday, cutting its forecast for Europe's biggest economy, while growth is expected in all the other G7 countries. The IMF had forecast 0.2% growth for Germany in its previous forecasts. "Geopolitical strength needs economic strength, this is why I'm worried given the economic situation of the European Union and especially my country," German Finance Minister Christian Lindner said on Tuesday. "At the moment we are not as successful as we should be and as we used to be in the European Union," he said...
Preliminary 2021 Lodging Industry Forecast
Robert Rauch | November 3, 2020
[embed]https://www.youtube.com/watch?v=ehDvSoNCbE4&feature=youtu.be[/embed] By Robert Rauch We have made some assumptions for 2021 – first, Q4 2020 and Q1 2021 will remain flat as corporate business begins to build just as leisure business begins to decline. Second, a stimulus package is imminent right after the election, regardless who wins. The politics of this election, coupled with the divisiveness of the nation, has disrupted everything except for the stock market. Third, gross domestic product will increase about 3% after being down close to 5% in 2020. Our favorite economist, Bernard Baumohl sees a Biden victory as better fo...
New Study: Travel Spending in U.S. to Plunge 45% This Year
The U.S. Travel Association | June 17, 2020
WASHINGTON (June 17, 2020)—Total travel spending in the U.S. is predicted to drop 45% by the end of this year, spurring renewed calls for federal measures to support the industry that was one of the top U.S. employers and exporters prior to the pandemic. According to a forecast prepared for the U.S. Travel Association by Tourism Economics, domestic travel spending is forecast to drop 40% (from $972 billion in 2019 to $583 billion in 2020) while international inbound spending is expected to freefall a whopping 75% ($155 billion to $39 billion). Total domestic trips taken by U.S. residents are expected to fall 30% from last year to 1....
How Hospitality and Retail Businesses Can Survive the Coronavirus Shutdown
René-Ojas Woltering | April 20, 2020
By René-Ojas Woltering Policy makers around the world have enforced an unprecedented shutdown of public life to slow down the spread of the coronavirus. As a consequence, entire sectors of the economy have seen their revenues collapse to zero. At the time of this publication, it appears that the shutdown will be a matter of months rather than just a few weeks. Yet, to date, no coherent political-economic strategy exists on how businesses may potentially survive a prolonged period without any revenues. Many hospitality and retail businesses are about to be sacrificed in the name of public health. A wave of insolvencies would cause irrev...
