Publications

In the Global Economic Prospects, June 2012: Despite the volatility in the region, there are signs that economic developments during the first half of 2012 are moving in a more favorable direction. Industrial production for the first quarter is showing advances across the diversified oil importing economies, while trade flows appear set to break into positive territory. However, tourism is likely to remain a problem area until the political situation stabilizes, with aggregate tourist arrivals to the region having fallen by 8.8 percent in 2011 versus a global increase of 4.4 percent.