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Global Perspective

Global Perspective: Security and engagement set to be key to further growth in meetings, incentives, conferences and events (MICE) industry

Countries and regions across the world have long understood the potential of the MICE segment as a vehicle to drive high-value tourism and economic development. In recent decades this has led to significant investment, with nations working to position themselves as centres for the industry, both regionally and globally, aided by greater air connectivity. At the same time, the industry has been shaped…
Global Perspective

Global Perspective: Digital and precision farming techniques are poised to bolster global agriculture resiliency

Against a backdrop of increasingly severe and costly climate events and natural disasters, technology is poised to play an important role in maintaining and improving global agricultural output. The adoption of digital and precision farming practices has been shown to improve crop resiliency and boost productivity and incomes, particularly in emerging markets where small-scale farmers are often more…
Global Perspective

Global Perspective: As health care provision expands, demand for both local and imported pharmaceutical products is rising

In recent decades, the pharmaceutical market has expanded its geographical reach. This trend appears to be here to stay; in a survey of major pharmaceutical firms conducted by global consulting firm PwC’s Strategy& team, more than half of respondents anticipated that over 30% of their global sales would originate in emerging markets by 2018. Even in the most newly opened markets, drug companies…
Global Perspective

Global Perspective: Tech solutions are driving the evolution of the sector landscape

Once reserved for ambitious start-ups and industry- leading tech operators, financial technology (fintech) has more recently caught the attention of major private sector firms and government planners alike, becoming a regular feature in budget speeches and strategic development plans. As fintech progressively plays a larger part in the lives of consumers, investors have quickly come to recognise its…
Global Perspective

Global Perspective: Development and promotion of technical and vocational training key to improving employment rates

Although priorities vary when it comes to economic development, the increasing need for skilled labour is both a cause of and a requirement for accelerated growth that spans markets and continents. This demand for technical specialists from Mexico toIndonesia is often most concentrated in the sectors that are vital to economic advancement, including infrastructure, oil and gas exploration and…
Global Perspective

Global Perspective: Impacts of the trend towards lower corporate tax rates on developed and developing economies

Recent decades have seen a downward convergence in corporate tax regimes as advanced, emerging and developing economies moved to grab a bigger slice of the global investment pie. Headline corporate tax rates have fallen by 20 percentage points since the early 1980s. Alongside lower average rates, special tax incentives aimed at capturing investment have emerged, further reducing the effective rates…
Global Perspective

Global Perspective: Medium-term prospects suggest globalisation is set to continue for the foreseeable future

Decades of growth in trade and foreign investment have seen the economies around the world become more interconnected and interdependent than ever before. The production of goods and, increasingly, the provision of services have become fractured across borders as corporations create and integrate into regional and global value chains. These trends have been reinforced by the steady liberalisation of…
Global Perspective

Global Perspective: As urban populations undergo rapid growth around the globe, planners are striving to create efficient spaces

In 2008, for the first time in history, more than half of humanity was living in urban areas. Perhaps the most remarkable observation about this trend is the speed at which it has happened: as recently as 1900 urban areas accounted for 13% of the global population. Towns and cities are seen as the crucibles of opportunity for many rural dwellers. The UN estimates that by 2030 urban areas will host…
Global Perspective

Global Perspective: New reinsurance programmes are bolstering coverage against natural disasters in emerging markets

While advanced economies generate the vast majority of insurance and reinsurance business, emerging markets are posting higher rates of growth. Complementing this underlying trend is a strong and expanding interest in catastrophic risk, which by nature tends to pertain to emerging markets. This is coming alongside fast-paced, sector-transforming innovation, which could provide a major boost to industries…