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🎄 🎄 UBS analyst Jay Sole warns that the outlook for holiday sales is headed in the wrong direction. “We asked consumers about their Holiday season spending plans in July and September. The percentage of consumers who said they plan to spend less this Holiday season jumped 840 [basis points] sequentially, while the percentage who said they plan to spend more rose only 340 [basis points]. This 500 bps spread is the 2nd highest in 12 years”
✈️ ✈️ The Global Business Travel Association is predicting global business travel spending will surpass its 2019 spending level of $1.4 trillion in 2024, compared to its earlier forecast of 2026. Spending is expected to grow to $1.8 trillion in 2027