Category: Travel & Leisure
Travel & Leisure market research reports by Oxford Economics
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Macro - Country Economic Forecasts - Italy
Macro - Country Economic Forecasts - Italy We forecast GDP growth for Italy at 0.9% for 2025, a boost from the 0.4% expansion we expect this year. We've recently downgraded our 2024 forecast based on relatively subdued Q3 growth. We project inflation will pick up to average 1.9% next year, as th ... Read More
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Macro - Country Economic Forecasts - Puerto Rico
Macro - Country Economic Forecasts - Puerto Rico We lowered our 2025 GDP growth forecast by 0.2ppts to 1.2%. Federal funds from disaster-relief programs and pandemic stimulus that buoyed infrastructure projects and private consumption will continue to fade. Still, resilient demand from mainland ... Read More
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Macro - Country Economic Forecasts - Dominica
Macro - Country Economic Forecasts - Dominica We have doubled our 2024 GDP forecast for Dominica to 4.2% and expect robust growth of 3.1% next year. Our forecast reflects strong near-term prospects due a major recovery in tourism, high public investment, and strong Citizenship-by-Investment revenues ... Read More
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Macro - Country Economic Forecasts - Spain
Macro - Country Economic Forecasts - Spain We forecast GDP growth for Spain at 2.4% next year. Although this marks a slowdown compared to the 3.1% expansion that we expect for this year, Spain will hold its position as one of the fastest growing economies in the eurozone. Strong growth in services w ... Read More
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Macro - Country Economic Forecasts - St. Lucia
Macro - Country Economic Forecasts - St. Lucia We have upgraded our 2024 growth forecast for Saint Lucia by 1.5ppts to 4.9% y/y, given record-breaking tourism figures throughout the year. We forecast the economy to continue to grow in 2025 at a rate of 4.8% y/y based on expectations of a record crui ... Read More
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Analysis by Region - Emerging Markets - Cuba
Analysis by Region - Emerging Markets - Cuba We cut Cuba’s 2025 GDP growth forecast by 1.6ppts to 1.9%, following an estimated 0.9% contraction this year. Disruptions at the country’s largest thermoelectric plant and reduced fuel shipments from Russia and Venezuela caused widespread blackouts, while ... Read More
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Macro - Country Economic Forecasts - St. Vincent and the Grenadines
Macro - Country Economic Forecasts - St. Vincent and the Grenadines We trimmed our GDP growth forecast for St Vincent and the Grenadines by 0.4ppts to 4.5% y/y for 2024 and 0.3ppts to 2.9%y/y for 2025 because of damage caused by Category 5 Hurricane Beryl in July. The impact of Beryl this year is li ... Read More
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Macro - Country Economic Forecasts - Cayman Islands
Macro - Country Economic Forecasts - Cayman Islands Historical data revisions and a significantly stronger-than-expected demographic outlook led us to raise our short- and medium-term forecasts for the Cayman Islands. We now expect GDP will grow by 1.9% next year before slowing down to 1.6% in 2026. ... Read More
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Macro - Country Economic Forecasts - Albania
Macro - Country Economic Forecasts - Albania We have raised our raised 2024 Albania GDP forecast by 0.7ppts to 3.6% and our 2025 forecast by 0.3ppts to 3.5%. This is driven by a strong construction sector – evidenced by rising confidence and strong annual output growth – and a booming tourism sector ... Read More
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Macro - Country Economic Forecasts - Virgin Islands (UK)
Macro - Country Economic Forecasts - Virgin Islands (UK) We forecast the British Virgin Islands' economy will grow by 1.2% in 2024 and 1.6% in 2025. We've revised up our 2025 GDP forecast to reflect stronger-than-anticipated growth in the tourism sector, partly driven by the robust US econom ... Read More
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Macro - Country Economic Forecasts - Greece
Macro - Country Economic Forecasts - Greece In its regular data revision process, ELSTAT revised up both nominal and real GDP for Greece. As a result, nominal GDP data for 2023 is now 2.3% higher than the previous estimate. We'll incorporate the new data into our forecast as soon as the quarterl ... Read More
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Analysis by Region - Emerging Markets - Seychelles
Analysis by Region - Emerging Markets - Seychelles We forecast real GDP growth of 3.1% in 2024 as investments in the information technology sector boost economic activity. While tourism revenue prospects for the short term are improving, tourist arrivals still fall short of pre-pandemic levels. Incr ... Read More
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Analysis by Region - Emerging Markets - Malaysia
Analysis by Region - Emerging Markets - Malaysia Industrial production (manufacturing, extraction and utilities) is forecast to outpace economic growth in 2024, increasing by 3.5%, picking up to 4.6% growth in 2025. ... Read More
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Macro - Country Economic Forecasts - Anguilla
Macro - Country Economic Forecasts - Anguilla We've downgraded our 2024 GDP growth forecast for Anguilla by 0.7ppts to 6% y/y as the headwinds from inflation and global uncertainty continue to cloud the outlook. However, we expect tourism will continue to aid growth and demand for the country ... Read More
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Macro - Country Economic Forecasts - Aruba
Macro - Country Economic Forecasts - Aruba We have upgraded our 2024 GDP forecast for Aruba by 0.8ppts to 2.2% y/y growth. This adjustment is driven by the resilience of the US economy, which accounts for over 80% of Aruba's overseas visitors, thereby boosting tourism activity. Arrivals are ... Read More
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Macro - Country Economic Forecasts - Antigua and Barbuda
Macro - Country Economic Forecasts - Antigua and Barbuda We increased our 2024 GDP growth forecast for Antigua and Barbuda by 0.7ppts to 5.8% y/y. This solid growth is aided by tourism and construction activity increasing, to which real activity is expected to climb to pre-pandemic levels by the end ... Read More
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Macro - Country Economic Forecasts - Grenada
Macro - Country Economic Forecasts - Grenada We kept our 2024 GDP forecast for Grenada at 4.3%, a moderation from 2023 growth due to a slower expansion in tourism and construction. The ongoing strength of the US consumer will uphold Grenada's tourism-driven economy, particularly in the first hal ... Read More
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Macro - Country Economic Forecasts - Guadeloupe
Macro - Country Economic Forecasts - Guadeloupe We expect Guadeloupe's real GDP will grow by 2.2% y/y in 2024, supported by strong momentum following the 8.3% y/y surge in activity last year. The Starlink satellite coverage, which is expected to provide the island with high-s ... Read More
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Analysis by Region - Europe - Switzerland
Analysis by Region - Europe - Switzerland We've raised our 2024 GDP growth forecast for Switzerland by 0.2ppts to 1.4% (or to 1.1% when adjusted for revenues from major sporting events). Although the outlook for this year has improved slightly, our revised forecast is still in line with the expe ... Read More
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Macro - Country Economic Forecasts - Bahamas, The
Macro - Country Economic Forecasts - Bahamas, The Following two years of double-digit growth, we expect that real GDP growth in the Bahamas will slow to 3.8% y/y in 2023. Record inflation has constrained domestic consumption. However, an encouraging recovery in tourism has boosted economic activity ... Read More
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Analysis by Region - Emerging Markets - Barbados
Analysis by Region - Emerging Markets - Barbados We think the Barbados economy will expand by 4.8% this year, following 9.1% growth in 2022. GDP will likely return to its pre-pandemic level by Q4 2023, driven by a solid but slow tourism recovery. We forecast tourist arrivals will grow by 27% in 2023 ... Read More
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Analysis by Region - Emerging Markets - Seychelles
Analysis by Region - Emerging Markets - Seychelles Real GDP is estimated to have grown by a strong 10.1% in 2022, with the size of the economy reaching pre-coronavirus pandemic levels. The island nation's tourist arrivals have started to pick up, but are yet to reach pre-pandemic levels. Thankfu ... Read More
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Analysis by Region - Emerging Markets - Bahamas
Analysis by Region - Emerging Markets - Bahamas The Bahamas continues to rebound from the coronavirus pandemic with strong growth of 7.7% expected for 2022. Our forecast reflects a recovery in tourism and foreign direct investment, as well as a 33% jump in exports this year. Unemployment continues t ... Read More
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Analysis by Region - Asia Pacific - Thailand
Analysis by Region - Asia Pacific - Thailand We've left our 2022 Thailand GDP growth forecast unchanged at 3.6% as reopening tailwinds, including an easing in regional international travel restrictions, will support domestic demand and a solid recovery in service-sector activity. Indeed, tourism ... Read More
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Analysis by Region - Emerging Markets - Bermuda
Analysis by Region - Emerging Markets - Bermuda We expect Bermuda's GDP to expand by 3.2% in 2022, which continues to be in line with average expected growth for Caribbean economies as they recover from the coronavirus pandemic. However, this positive outlook is dependent on Bermuda's year-e ... Read More
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