Analysis by Fares Ghattes, Global CEO The Luxury Network and Head of Diplomatic Council Mission Middle East
Understanding the impact of global trends on the Middle East, and how governments and businesses can succeed in a very different world.
Distinguishing clearly between cyclical and structural trends can always be difficult. In the Middle East, where the oil cycle appears to determine the fate of so many sectors, it is especially hard. When the oil price is high, our region booms. When it is low, it is hard to do anything but react to the cut in investment. Yet our region, perhaps more than any other, is at the epicenter of the megatrends reshaping the world. Understanding how these structural trends will impact us – both separately and together – is vital to get a clear picture of how to tackle the challenges we face successfully and to uncover opportunities we may have never considered.
The five megatrends impacting the world and our region over the next few decades:
- Demographic and social change,
- Shift in global economic power Urbanization,
- Climate change and resource scarcity Technological breakthroughs,
- Technological breakthroughs.
All five trends have been presented and discussed in detail at the Diplomatic Council Executive Club 2019.