Economies in 2018: Key Insights
Euromonitor International’s Economies team is pleased to present key insights for Economies in 2018. The outlook for the global economy is positive with broad-based growth resulting in world GDP surpassing US$80.0 trillion in 2018, for the first time. These insights from our expert analysts cover economy, finance and trade; cities; business dynamics; industrial; and natural resources. For example, China will focus on innovation-led production, while US cities will lead absolute per capita disposable income growth. The outlook is not without risks, however, such as a potential US-North Korean conflict or the ongoing threat of a China hard landing scenario.
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- Emerging and developing economies growth will likely reach nearly 5.0% in 2018 and will account for 57.0% of global growth. This will translate into stronger consumer spending prospects in emerging markets;
- Boston, San Francisco and New York are projected to add three times as much in real per capita disposable incomes compared to Western European cities such as London or Paris in 2018, making these US cities attractive investment destinations for consumer companies;
- India moved 30 places up in the World Bank Doing Business ranking in 2018, recording the highest improvement in the index. This was a result of an enhancement in the tax environment, access to credit and electricity and other reforms. Euromonitor International forecasts that Indian real GDP growth will outpace that of China in 2018;
- 2018 will be marked by widespread acceptance of new manufacturing practices. 3D printing is expected to be commercialised and business expenditure on novice machinery and digital technologies will accelerate;
- The electricity deficit in Sub-Saharan Africa is set to continue in 2018 although a number of initiatives are trying to address the issue. Insufficient access to power will hinder the region’s potential to become the next global growth hub.