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Published on : Thursday, October 31, 2013
As a result of the gradual recovery of the global economy, the tourism industry around the world is expected to benefit. The growth forecast at 2.8 per cent, and from the unanimously positive forecasts for every major economic zone, said Dr Gernot Nerb, an economic expert at the Munich-based Institute for Economic Research (IFO) , on Wednesday at the 21st World Travel Monitor Forum in Pisa, Italy.
“This concerns Europe in equal measure, where after a two-year period of economic depression there appears to be a light at the end of the tunnel,” he said. In 2014, with the exception of Greece and Cyprus, the economy in every Eurozone country could expect to grow, he added, even if in countries such as Italy and Slovenia returning to black figures would mean no more than zero growth.
Currently, travellers from Eurozone countries are enjoying the benefits of a favourable dollar exchange rate. However, Dr Nerb warned of a possibly negative mid-term impact on export business. “At present, the Euro is fundamentally overvalued.