Crisis and confidence

Abstract

News of layoffs, budget cuts, poor sales figures and fewer people attending major industry events has done little to boost business confidence recently. But governments are taking steps to stabilise the world economy by introducing measures such as stimulus packages and tax breaks, and by increasing liquidity in the banking system. The G20 summit in London at the beginning of April was a positive move, with global money markets rallying in response to the progress made by the leaders of the world's top 20 economies. But how is the uncertain economic climate likely to affect the smart cards industry? While certain application markets could bear the brunt of the downturn, it seems that others might actually experience steady growth. We talk to smart cards industry insiders to find out what they think the crisis means for our industry.