Foresight 2023 Report
Report Overview
With eyes firmly set on 2023, our Foresight report is taking a comprehensive look into the challenges and opportunities the world will face this year. The post-pandemic recovery proved short-lived as shocks in 2022 re-opened economic wounds that had only partially healed. The world is entering 2023 in an environment of galloping inflation, looming recession, and elevated geopolitical uncertainty. Existing challenges and new crises are tipping the world into yet another big slowdown with a third of the global economy is poised to contract amid shrinking real incomes and rising prices. For many 2023 will feel like a recession. The soaring inflation, tightening rates, and Europe’s energy crisis are some of the culprits for the impending recession that will be a key topic in many of our Foresight stories. Yet, not all is doom and gloom. COVID-19 and Russia’s invasion of Ukraine, which hurt global growth so much, have once again highlighted the need for greater energy diversification, enabling governments and companies around the world to accelerate their efforts towards a net-zero economy. Throughout history, conflicts and crises have often supported energy transitions and we believe today’s decarbonisation policies are putting in motion innovation and investments that will fuel growth and bring us closer to a more sustainable future.
FORESIGHT 2023 AREAS OF FOCUS
.png?v=12012022162003)
The Big Slowdown
Closer look ›
A third of the global economy is poised to contract amid shrinking real incomes and rising prices. Central banks are in the spotlight with their credibility at stake, while the labour market spares the world from an outright meltdown by (still) staying resilient.
.png?v=12022022110835)
Entering the New Age of Data
Closer look ›
COVID-19 has ushered in an era for greater need for timely data to understand the economy and its various segments. Alternative data is helping economists and analysts gauge the local and global economy.
.png?v=12022022111225)
Easy Money Era is Over: EMs Brace for Capital Outflows
Closer look ›
The strong US dollar and the aggressive rate hikes by the Fed are putting pressure on emerging economies in the wake of the COVID-19 pandemic, leaving them increasingly exposed to capital outflows.
China Decarbonised
Closer look ›
China’s carbon neutral targets are undoubtedly bold, but it remains to be seen whether Beijing can deliver.
.png?v=12012022160259)
ESG, the New Buzzword in EMs
Closer look ›
ESG might initially have been associated with the developed markets, but the unsustainable nature of the carbon-based emerging economies and the need to prevent environmental and social problems has accelerated this trend in the developing world.
Europe's Energy Crisis
Closer look ›
The rising cost of gas and electricity is stressing household energy bills, threatening businesses' productivity and testing government policy.