According to a Euromonitor expert, the global economy is recovering yet encountering persistent challenges in 2024. The expert underscored that short-term economic prospects on a global scale are progressively enhancing private sector confidence. Projections indicate that global real GDP growth is anticipated to attain 2.9% in 2024, representing a marginal decrease from the 3.1% recorded in 2023 and persisting below pre-pandemic levels. The US economy has displayed remarkable resilience in the initial quarter of 2024, surpassing expectations. Consequently, the real GDP growth forecast for 2024 has been adjusted to 2.1%. Notably, the pace of economic growth in Europe exhibits variation, with select southern countries outperforming their northern counterparts. Spain, Portugal, and Greece are poised to show real GDP growth rates exceeding the regional average, attributed to sustained tourism resurgence and reduced susceptibility to the manufacturing downturn.

Projections indicate that emerging and developing economies are poised to outpace advanced economies, with an anticipated 4.0% real GDP growth in 2024 as opposed to 1.4% in advanced economies. Despite improved growth prospects, the global economic outlook in 2024-2025 is still subject to various downturn risks, especially geopolitical tensions.