UK and Global Economic Insights Dr Andrew Sentance Senior Economic Adviser, PwC Hospitality and Tourism Summit 2015 London, 30 th June 2015.

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Presentation transcript:

UK and Global Economic Insights Dr Andrew Sentance Senior Economic Adviser, PwC Hospitality and Tourism Summit 2015 London, 30 th June 2015

PwC The world economy in the 21 st century World GDP, US $ trillion (current prices) Source: IMF * forecast

PwC Asia-Pacific now the dominant region Percentage share of world GDP, current market prices & exchange rates Source: IMF World Economic Outlook

PwC Global growth in 2015 – latest PwC forecasts Source: PwC June 2015 projections Russia Germany UK US Brazil India Spain Key Canada Mexico South Africa Australia Japan Italy Greece Ireland France x.x = GDP growth in 2015 China

PwC Growth in leading EU economies Annual % GDP growth to Q in 10 largest EU economies Source: Eurostat

PwC Growth over UK recovery in major business sectors % per annum increase in output, Q – Q Source: Office for National Statistics

PwC UK leads G7 on services export contribution Exports of commercial services as % of GDP, 2013 Source: World Trade Organisation and IMF

PwC Key issues for UK Hospitality & Tourism  Global and domestic economic stability  UK role in the EU and referendum outcome  Attractiveness of UK as business/investment location  Transport investment, particularly airport capacity  Labour availability and skill shortages  Transition to higher interest rates