Publication date:
Apr 2009
Language:
English
As we enter the second quarter of 2009, the first signs are becoming visible the the global economy’s rate of decline may be slowing. Yet significant headwinds to global growth remain. Travel demand is elastic – that is, tends to exceed the growth of the overall economy in good times, and to contract more severely when the economy falters. This is clearly evident in the pace of travel declines over the past few months.
