The economic crisis that hit Wall Street –the core of the globe’s finances– back in 2008, shook the world economy tree so badly that four years later lots of leaves, boughs, companies and banks keep falling off. In the meantime, Europe remains unable to work out a solution to an unshackled debt that’s choking the continent. New snags in trade and global outputs indicate the crisis is far from ending anytime soon and its impact is likely to spread to other regions and sectors that had so far gotten off scot-free.

The WTO slashed its growth forecast for world trade to 2,5 % in 2012, down from an original estimate of 3,7 % earlier this year. The blame is pinned on “ill winds that are blowing increasingly harder,” and that includes problems in the U.S. and the slowdown of emerging economies that had successfully resisted the developed world’s financial woes. Yet the gravest cause is the ripple effects of Europe’s debt crisis on the rest of the planet.

In an alleged contradiction, tourism remains one of the few economic sectors that are sending good vibes, also in the Old World. The World Tourism Organization (UNWTO) hopes to crack the one-billion-tourist plateau this year, on the heels of a 5% growth in the first half of 2012. Though Europe continues to be the most visited destination, the travel industry remains in good shape and is gaining momentum in other regions, while Europeans turn to cheaper short-haul trips and staycations.