Factors That Can Affect Global Economy in 2022 Broadly
Since the starting of 2020 the world got paused partially due to the pandemic which affected the economy of most of the countries badly. The after effect was supposed to be long lasting and when the pandemic has continued till date showing new variants, the situations have worsen.
The CEBR predicted last year that the situation will change in the year 2022 and will boom again with more than $100 trillion economy. It could be possible with an expected 4% growth in the economy. January has ended and as per the report from several economical surveys, the result is a mix of high and low growth rates which may reach an average of 4% by the end of the February.
As per a report, Asia should stay in the front-line to pull the economy again with massive growth as they have fought with the pandemic better than the western countries. Proving the reports right, the Asian countries have achieved a growth rate of 4.5% or higher and it is really a good news, specially when the omicron variants are still in power in the western countries.
In fact, this variant become aggressive during the Christmas season affecting the hospitality and other industries badly during the festive season and people got bound to stay at home. So, the western countries went in the back foot compared to the Asian countries and as a result the inflation in the western countries have become severe putting people in high debt to maintain their lifestyle.
However, the recent growth in the cryptocurrency industry should help out people recovering their losses to a great extent and maybe they manage to overcome this never-before situation properly.