2024 World Economic Forum Highlights: 5 things that stood out
When thinking about your investment strategy this year, some insights from the World Economic Forum may confirm your hunches or help you refine your plans.
World leaders, businessmen, thought leaders, and changemakers flocked to Davos, Switzerland, recently to help steer the world to a better place.
According to the World Economic Forum website, the 54th World Economic Forum Annual Meeting from January 15 to 19 was held “to rebuild trust, generate new ideas, and create partnerships to advance solutions to the challenges we face.”
Many topics were discussed. Here are some of the most important things to note for investors.
AI or Artificial Intelligence
The world continues to be enthralled by AI. As a result, tech companies that have embraced AI and made it a key component of their strategy are enjoying widespread attention and the infatuation of investors.
Some business leaders and analysts, however, are questioning the real business value of AI and how soon this value will be realized. For now, amid the tantalizing promise of the technology, the world continues to contend with both dystopian and utopian scenarios.
Another thing that was brought up during the forum was China. The Premier of China actually went to the forum and started to woo investors, who, understandably, were still cautious.
One CEO even said that after that closed-door meeting with the Premier, they are still a bit skeptical because of the lingering issues within their economy, especially with the ongoing property crisis there.
The other economic juggernaut sharing the border with China is India. It is one of the fastest-growing large economies in the world.
In recent years, India has caught the attention of foreign businesses as an alternative destination for firms relocating their operations from China. With this, India has also been seeing foreign stock market inflows amid its good prospects.
A growing number of economies are supercharging their sustainability goals with sustainable transport, meaning public transportation and not just energy consumption have become part of their sustainability initiatives.
China, for example, has become a formidable leader in electric vehicles (EVs). This EV upstart is turning these battery-powered vehicles into a consumer electronics product, according to Li Yi, chairman and CEO of Appotronics, a Shenzhen-based laser display company.
Geopolitics has caused some global volatilities not just in the previous years because of the Russia-Ukraine war, but also because of the ongoing tensions in the Middle East.
There are calls for global cooperation to mitigate the effects of this war, or end it. Global trade disruptions in the Red Sea have already been observed as Yemen’s Houthi rebels are attacking merchant ships that they claim are going to Israel.
Some container ships are now going through the Cape of Good Hope instead of passing through the Suez Canal, adding up to around 10 days of travel.
When thinking about your investment strategy in 2024, these are the five things that also deserve some consideration.
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ANNA DOMINIQUE CUDIA, MBA, CSS, is the Head of Markets Research at Metrobank’s Trust Banking Group, spearheading the generation and presentation of financial markets insights to internal and external clients. She used to be with Metrobank’s Investor Relations, where she brought in international awards and took part in various multi-billion peso and dollar capital raising activities. She has a Master of Business Administration (Finance) degree, with distinction, from the University of London, and a Bachelor of Science in Business Administration degree, cum laude, from the University of the Philippines. She also passed the CFA Level I exam and is a Licensed Fixed Income Market Salesman (FIMS), a Certified UITF Sales Person (CUSP) and a Certified Securities Specialist (CSS). She is a naturally curious person and likes to travel here and abroad.
SOPHIA THERESE “PIA” BONIFACIO is a Research Officer at Metrobank’s Trust Banking Group, covering local and offshore macroeconomic research. She obtained her Bachelor’s degree in Economics with a Specialization in Financial Economics, cum laude, from the Ateneo de Manila University and is a Certified UITF Sales Person (CUSP). On the daily, Pia spends her time with her best friend – a 9-year-old Chow Chow named Yao Ming.