Insights

We believe the world is heading for a full recovery from COVID. Thanks to vaccine rollouts and unprecedented fiscal and monetary stimulus, most economies are reopening, albeit unevenly. The desire to see friends and family, visit restaurants, attend large events, and travel abroad is strong among consumers everywhere. So too is their financial ability, following a prolonged spell of involuntary saving. The combination of stimulus, personal savings, pent-up demand and changes in consumption patterns augur well for a rapid recovery and an expansion that could last several years.