geopolitical risk

The headline numbers still look strong. The decision-making process behind them has fundamentally changed.

When Travel Becomes a Calculation

Travel isn’t declining. It’s becoming more deliberate. The question travellers are asking at the start of the process has quietly changed, and it’s reshaping the industry in ways aggregate demand figures don’t show.

The Fragmented World

Deglobalisation is the wrong word for what’s happening. Countries aren’t retreating from trade. They’re becoming selective about dependency. That distinction changes everything.