economy was still reeling from the financial crisis. (However, according to the New York Times, surprisingly strong data for the month of September also showed that the deceleration in China may, for now at least, have come to an end).


Although some variations were to be found between the economic performances of the major economies, as is clear from the table below, the general trend within most of the G7 nations was towards modest GDP growth in 2012.


The Carlson Wagonlit Travel (CWT) Travel Price Forecast noted that while significant fluctuations in oil prices have made headlines for much of 2012 and have the potential to dramatically impact upon economic performance positively or negatively in the immediate future, unemployment remains the greatest barrier to improvement in most world regions. Globally, unemployment is still above levels experienced before the onset of the economic crisis; in fact, employment-to- population ratios remain below 2007 levels in every major economy except Brazil, China, and Germany. Despite positive economic growth, US unemployment remained at more than 8 percent in mid-2012, and had reached historic highs of nearly 11 percent in the euro zone as of March 2012. Far higher rates were to be found in the crisis-hit economies of Spain and Greece, with 24.1 percent and 21.7 percent unemployment, respectively.


Reed Exhibitions | EIBTM Trends Watch Report 2012 5


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