World Travel Market | Global Trends Report 2008

According to the IMF, the current financial downturn affecting the globe is set to continue through 2009, with world economic growth to slow to 3.9% in 2008 and 3.0% in 2009. The economic and financial crisis has dramatically altered the shape of the global landscape for travel and tourism, as liquidity dries up, commodity prices rise, inflation increases and consumer demand falls.