Growing political and economic tensions are leading to supply chain diversification efforts, with new regional trade hubs emerging in Asia, Europe and the Americas. However, it remains unclear if new manufacturing hubs can fully replace China in global supply chains due to China's dominance in the hi-tech goods sector and underdeveloped supporting industries in other countries.
For the first time ever, the Paris 2024 Olympic Games will feature an equal number of female and male athletes, which is expected to increase fan interest and opportunities for women and girls to participate in sports. In recent years, women’s professional sports fandom and women’s participation in athletics have been on the rise, leading to opportunities for sportswear brands to appeal to women’s sports fans and female athletes alike through sponsorships, product launches and event activations.
As the world continues to urbanise rapidly, the share of global population living in cities is projected to reach 64% by 2040, up from 57% in 2023. This growth highlights the need for innovative and sustainable solutions to boost urban liveability, resilience and efficiency. Digital cities, accelerating climate action, and strategic planning are the key trends shaping the cities of tomorrow, vital for enhancing the quality of urban life and offering opportunities for businesses.
Global economic growth has been modest since the outbreak of the war in Ukraine and a surge in inflation in 2022. Although the outlook has started to brighten recently, ongoing tightened financial conditions and persisting geopolitical risks put a limit on the global recovery.
First months of 2024 saw a year-on-year easing in many commodity prices, as soft global demand weighed on energy prices and prospects of adequate crop supply capped agrifood price growth. However, geopolitical shocks sparked turbulence in the oil market and drove up gold prices, while rising supply concerns fuelled a rally in copper.
The ongoing cost-of-living crisis is expected to impact consumer demand in 2024. To counter this, companies can focus on B2B sales channels, particularly in the offices and healthcare sectors, which are forecast to maintain steady revenue growth.