TRAVEL：2026年旅游市场展望报告（英文版）

The global economy disappointed in the first half of 2025, expanding at an annualized rate of 2.5%. However, this wasn’t as bad as had been expected, given the scale of uncertainties and prevailing challenges. As one of the biggest underperformers so far in 2025, the U.S. economy has weighed on the global performance, while many other economies, including China, India, the Eurozone and the U.K., have performed much as expected. A modest improvement in the second half should result in full yea