Five Biggest Global Trends 2022
The Five Biggest Global Trends in this article, we want to look at the five biggest global trends every business needs to be ready for right now.
I cover each of these trends in more detail in my book Business Trends in Practice, in which I outline the 25-plus trends that are redefining organizations, including technology and consumer trends.
But let’s look at the five global shifts at the moment.
1- Relationship with Planet
A changing relationship with Planet as humans, we have exploited our planet.
We’ve pumped greenhouse gasses into the atmosphere from burning fossil fuels. We’ve polluted our oceans with plastic, destroyed habitats, and reduced biodiversity.
As a result, we are already seeing things like abnormal weather patterns. We’ve had apocalyptic floods in Germany, New York, across China, record temperatures in Moscow, wildfires in Greece, and hurricanes and tropical storms over the world. On top of that, our world population is growing, which leads to increasing concerns around food security, and migration.
According to estimates, we have to increase food production by between 26% and 68% by 2050.
That’s a big increase for an already struggling planet. I believe the emerging climate disaster is the biggest challenge humanity has ever faced.
According to Ipsos, globally 73% of people agree that we are on course for a climate disaster.
With the global majority agreeing that the world is facing a huge crisis, we can expect consumers to gravitate towards more sustainable options.
That means your organization must do everything it can to maximize its green credentials, rethinking your product, creating a sustainable supply chain, and eliminating emissions and waste in your business operations.
2- Shifts in economic and political Power
Shifts in economic and political Power in a nutshell, by 2050, the list of the most economically and politically powerful countries in the world will look very different from today.
For example- China’s economy is now predicted to overtake the United States by 2028, which is five years earlier than previously thought.
The combined economic power of the E seven economies such as China, India, Brazil, Mexico, Russia, Indonesia, and Turkey could be double that of the G Seven the United States, Canada, France, Germany, Italy, Japan, and the United Kingdom by 2040.
As economic power shifts, it will become more expensive to outsource to countries like India and China.
At the same time, these economies could become strong markets for products and services, and this is something businesses will have to plan for right now.
3- Growing divergence
Growing divergence and Polarization there have been some notable examples of political fragmentation and growing divergence in recent years.
Brexit is one example. Then we’ve had President Trump withdrawing from the US. From the Paris Agreement on Climate Mitigation and even threatening to leave NATO.
We are also seeing a technology trade war between the US and China, where they have banned Huawei. And China stops all artificial intelligence-related exports to the US.
And then we’ve had Russia announcing that’s able to completely unplug from the rest of the world’s internet and operate its independent internet.
So in short, after decades of countries growing closer together, there are signs that they are beginning to consciously uncouple, and covid 19 has exacerbated this further with countries focusing on their domestic problems.
This growing divergence may mean companies find themselves locked out of certain markets and means relying on a single overseas market is market is a high-risk strategy.
4- Shifting Demographics
The shifting Demographics of the global population in 2050 or even in 2030 will look very different from how it looks today.
That’s because the population is growing globally. The population is growing older, and people are increasingly living in urban areas.
For example– the number of megacities, those classified by the UN as cities with 10 million or more inhabitants is also on the rise.
By 2030 there will be 43 megacities, which is up from 33 in 2018. The business opportunities around these shifting demographics are huge social, cultural, and workplace shifts.
5- Workplace Shift
The workplace demographic is also shifting significantly. The number of gen Zetters and millennials in the workplace is on the rise and baby boomers are retiring.
And with this changing workplace come changing expectations and priorities.
For example- 65% of people want to work for an organization with a powerful social conscience. How we work is changing too.
The days of the job for life are well and truly gone, and more people will work in the geek economy as freelancers and free agents.
These five global trends represent real opportunities and risks for all businesses.
To learn more about these and other future trends check out my website and look at Business Trends and Practice the 25 plus Trends That Are Redefining Organizations, which is with real-world examples and cuts through the hype to present the key trends that will shape the business of the future.