We face a difficult landscape as we progress into 2024. Continued conflict and uncertainty in Palestine and Israel along with the Russia-Ukraine war, which is now entering its third year, are just two markers for today’s geopolitical instability. The year ahead also heralds consequential elections, beginning with Taiwan in January and extending to the US general election at the end of the year.
Amid wars and elections, the macroeconomic environment will offer scant respite. Although in many countries, inflation is easing, forecasts for GDP growth point to a slowdown in 2024, compared to 2023. This will intensify spending dilemmas for many governments in the G20 and beyond in 2024. Room for further fiscal expansion will be limited in many cases – at the same time, demands are growing to increase spending in defence, health and decarbonising economies.
In our latest White Paper, Global Prospects 2024, we look at key global developments to monitor in 2024. We also explore the likely progress in the global economy and highlight regions and issues that could potentially impact priorities for decision-makers in the next 12 months.
