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The IMF revised its 2022 and 2023 economic growth projections for the US to 2.9% and 1.7%, respectively, in June 2022

The unemployment rate in the Euro area stood at 6.1% in May 2022, unchanged from the previous month, according to Eurostat

According to a Nikkei survey, the Chinese economy is forecast to grow at a slower rate of 4.1% in 2022 due to its zero-Covid-19 policies.

According to the OECD, the unemployment rate in OECD nations stood at 5% in May 2022, declining from the 6.5% recorded in the same month of 2021.

2022 is proving to be a pivotal year in the travel and tourism industry. Most major travel restrictions have been withdrawn, allowing international passengers to move freely.

Some travellers maintain concerns about the spread of the virus. Furthermore, the increased cost of living and inflation is set to impact consumer behaviour significantly.

In May 2022, outbound travel was once again restricted for "non-essential reasons" in China. Even though Covid-19-related restrictions on inbound travel have recently been relaxed to some extent, this major source market is holding back international tourism recovery.

In 2019, China was the largest source market globally for the number of outbound trips taken and was the second largest for outbound expenditure.

Labour shortages created by the pandemic are causing havoc for airlines and airports.

In November 2021, British Airways announced that it would be increasing its workforce by 15%, adding around 4,000 personnel including pilots and cabin crew.

However, the recruitment drive has fallen short after British Airways cut as many as 10,000 jobs during the pandemic.

In addition, according to hiring trends on GlobalData’s Job Analytics Database, British Airways did not increase its number of job postings on its career pages until at least March 2022.

Between November 2021 and February 2022, active job postings declined by 18.4%.