Years | Average Annual Growth Rate* | Context During Time Period |
1989-1992 | 0.6% | Pan Am Flight 103 bombing over Scotland Fall of Berlin Wall in Germany Gulf War against Iraq. |
1993-2001 | 10.2% | US triumphant in Cold War, End of History |
2001-2002 | 4.4% | September 11, 2001 terrorist attacks in US Global War on Terror begins in Afghanistan Heightened air travel security and restrictions. |
2002-2008 | 8.5% | Era of hyper-globalization US-led Global War on Terror expands to Iraq war China’s economic growth rate exceeds 11% annually. |
2008-2009 | −0.8% | Global Financial Crisis Great Recession in the United States. |
2009-2019 | 2.9% | Slow economic growth rates worldwide Britain votes to leave European Union (Brexit) Nationalistic and autocratic political trends worldwide. |
2019-present | −95.8%** | Border closures, travel and supply chain disruptions Murder of George Floyd, Capitol insurrection in US Russia invades Ukraine, high inflation. |