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A two-speed Europe is becoming more
and more an economic reality. As the “core”
of the Euro area – Germany, France and UK
– is turning the corner, the “peripherals” –
Greece, Ireland, Spain and Portugal – are
still suffering from the sovereign-debt crisis.
The German economy, the most prominent
in Europe, is recovering quite well from the
2008-2009 downturn. The ramifications of
the Eurozone sovereign debt crisis have so
far had little impact on this country. The
massive and sustained growth acceleration
since Q2-2010 has made Germany the star
performer in Western Europe. Germany’s
economy is expected to remain exceptionally
robust in 2011 compared to the economies
of France and the UK.
According to the economic research firm
Xerfi, the outlook for France is quite contrasted:
bearing a record trade deficit in Q1-2011,
France saw its industrial output falling back to
levels experienced 10 years ago. Its industry
network is slowly deteriorating, while con-
sumption is hampered by a rising inflation.
Britain’s economy saw most of its sectors
off to a strong start in Q1-2011, in particular
with regards to output in the services and
manufacturing sectors. Britain's short to
midterm growth is expected to remain mild,
as the country faced important governmental
budget tightening.
the forecast
Bombardier Business Aircraft
|
Market Forecast 2011-2030
28
Europe
Business Jet Penetration Forecast - Europe
Fleet per capita vs. GDP per capita, 1960-2030
Sources: Ascend, IMF, IHS Global Insight, UN Population Project, Bombardier forecast. Includes very light jets.
1
10
100
1,000
10,000
1,000
10,000
100,000
GDP per Capita (USD, Log Scale)
Fleet per 100 Million Population (Log Scale)
WESTERN
EUROPE
EASTERN EUROPE
1960
2010
Actual Western Europe
Forecast
2030
2010
Actual Eastern Europe