A tight labour market, persisting supply chain disruptions and elevated economic uncertainties cloud the business environment globally. Despite the challenges, there are opportunities for businesses to transform, innovate and build resilience in the new economic environment. Understanding the key trends shaping global business dynamism allows companies to innovate and adapt to the changing landscape, embracing new opportunities.
This report comes in PPT.
With severe job cuts during the pandemic, the unemployment rate peaked at 7.6% globally in 2020 and stood at 7.3% in 2021. Despite rather elevated unemployment, job vacancies started to grow substantially as economies entered recovery, leading to increasingly tight labour markets in many of the largest economies globally, posing challenges for businesses to attract talent and deal with labour shortages.
The global pandemic fostered investments into R&D in medicine and pharmaceutical sectors, striving to deal with virus spread. Going forward, countries and businesses will see rising pressure to invest into innovations and the efficiency of current technologies amidst stagnating global economic growth and slowdown in productivity. Moreover, skyrocketing energy prices and heavy dependency on fossil fuels will further facilitate funding for renewable energy generation capacities and energy-related R&D projects.
Female enrolment into higher education has been growing rapidly over the last decade with the share of female students in higher education surpassing that of male students back in 2004. Despite improving female education, the gender pay gap remains a significant issue, dragging down business potential and diminishing incentives for active female participation in the global talent market.
The COVID-19 pandemic highlighted the need for digitalisation and online presence, fostering business investments into e-commerce and other online solutions. Online adspend also surged during the pandemic and is projected to become the predominant ad category globally over the forecast period. Digitalisation and online presence remain a vital component for successful business operation even after the pandemic.
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