“Consumer spending on tourism was stronger than expected, surging during what most contacts considered the last stage of pent-up demand for leisure travel from the pandemic era,” The prediction came as part of the regular “Beige Book” economic snapshot from the Federal Reserve released Wednesday. Several of the Fed’s 12 regional districts reported peaking or even slowing tourism activity — a sign that US consumer spending, which accounts for about two-thirds of US economic output, could be shifting in the coming months.

According to national home rental platform Zumper, the U.S. slowdown of price increases observed over the last year continues this month, with one-bedrooms up less than half a percentage point over last month and two bedrooms up just a tenth of a percentage point.

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According to ING, high interest rates and soaring building costs have drastically reduced the demand for new buildings in Europe. So far, ongoing projects and a heightened focus on sustainability have prevented construction volumes from shrinking, but we're expecting to see a steep decline begin to emerge in 2024.

According to a new report by CBRE, global cross-regional capital flows totaled $30.5 billion in H1 2023, down by 52% from H1 2022 and the second consecutive half-year period with an approximate 50% decrease in volume.

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