Global Outlook for 2022
Presented September 2021
Preparing for the short and long cycles
COVID-19 has continued to cloud the outlook across 2021, but many regions have already partly reopened their domestic service economies, as vaccination has led to lower case numbers and—even amid the Delta wave—low levels of hospitalizations among the vaccinated.
Across 2022, the number of countries that are able to sustainably reopen will continue to increase, reducing the domestic and international restrictions that have prevented a full return to pre-COVID life. The reopening of these domestic economies will lead to strong growth in consumer services demand, employment growth, and overall strong domestic growth rates. But the sugar high of reopening will mask challenges that countries will face in the ensuing years as the lingering impact of COVID.
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