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.
Get an update on global economic performance in 2024. You'll find the latest projections for GDP growth and inflation to support your strategic planning in this report extract.
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.
The global economic outlook continues to improve, as easing inflation, improved supply conditions and strong labour markets in advanced economies support real income gains, consumer spending and other economic activities in the first quarter of 2024.