According to the World Tourism Organization’s study (UNWTO), more than 900 million tourists traveled internationally in 2022 - twice as many as in 2021, but 37% fewer than in pre-pandemic 2019. The UNWTO specialists reports that their expectations were exceeded by the dynamics of the global tourist market's rebound in 2022. All parts of the world had an increase in international arrivals of...

The price of oil would increase if China's economy starts to revive in 2023, according to Fatih Birol, president of the International Energy Agency (IEA). China is now the biggest uncertainty in the world oil market. "China, if you ask me, is the area where there is the most uncertainty. It's easy to understand why. Chinese consumption for oil and gas fell in 2022, for the first time in 40 years....

The Bank of Japan revised its projection for the country's GDP growth down to 1.9 percent while increasing the anticipated inflation rate to 3 percent. The Bank of Japan (BOJ) raised projections for inflation by 0.1 percentage points to 3% from 2.9% while lowering its forecast for the country's GDP growth for the current fiscal year (April 1, 2022 to March 31, 2023) from the expected 2%. In...

Several consulting firms calculated that Iran's oil shipments in November and December 2022 were the greatest in years. Iran exported 1.095 million barrels per day (bpd) in total in November, and that number increased to 1.137 million in December, according to Reuters, which cited statistics from energy consultancy SVB International. Iranian shipments were pegged at 1.23 million bpd in November...

According to information from the Department of Labor, the consumer price index (CPI) in the US decreased by 0.1% at the end of December. Since May 2020, the country's consumer goods prices haven't decreased month over month. A press release from the ministry claims that cheaper gasoline in the US is the main cause of the decline in commodities prices. Additionally, while the month-end food price...

According to data issued on Thursday by China's State Statistics Office, the consumer price index (CPI), the major indicator of inflation, increased 2% year over year in 2022. Separately, the CPI for urban and rural areas increased 1.8% in December over the prior year. Consumer goods increased by 2.6%, non-food items by 1.1%, food by 4.8%, and services by 0.6%. In terms of monthly changes, the...

Companies from specific industries will no longer be permitted to list on Chinese stock exchanges, according to the China Securities Regulatory Commission (CSRC), reports The Financial Times (FT), citing sources. The corporations in the food industry have already been given the "red" rating, according to the FT. Additionally, businesses that make coronavirus detection tests were subject to the...

According to information provided by the European Union's statistical office, the unemployment rate in the euro area stayed at a minimum of 6.5% in November 2022. A record low of 10.84 million people were unemployed as of October, a decrease of 2,000 over the previous month. Unemployment among young people's (under 25) increased to 15.1%. Spain had the highest unemployment rate, at 12.4%. The...

The U.K. labor market continued to deteriorate in December, according to the results of the employment agency poll that was issued on Tuesday. This suggests that long-term inflationary pressures may also decrease. The monthly jobs index, calculated by the Recruitment and Employment Confederation (REC) and KPMG, dropped from 54.1 in November to 53.0 in December, its lowest level since February...