Global Business Dynamics Trends

March 2024

A tight labour market, persisting supply chain disruptions and elevated economic uncertainties cloud the business environment globally. Despite the challenges, there are opportunities for businesses to transform, innovate and build resilience in the new economic environment. Understanding the key trends shaping global business dynamism allows companies to adapt to the changing landscape and embrace new opportunities.

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Key findings

Tight labour market requires proactive business strategies

Given the ongoing tightness in the global labourmarket, companies are actively executing strategic talent acquisition and retention plans. To counter the scarcity of skilled workers on a global scale, businesses are directing investments towards internal talent development programmes. By providing opportunities for upskilling and reskilling, companies ensure their workforce possesses the necessary skills to meet evolving job demands.

R&D investments gain momentum amid global challenges

In the face of prevalent global challenges governments and companies are continuing their investments in research and development (R&D). This shift reflects a commitment to addressing complex issues, fostering innovation and developing solutions that strengthen resilience in the increasingly unpredictable and competitive global environment.

Artificial intelligence starts to integrate into the business process

In the contemporary business landscape, organisationsglobally are actively integrating artificial intelligence (AI) to optimisevarious business processes. AI technologies, ranging from machine learning algorithms to natural language processing, are being leveraged to streamline workflows, automate routine tasks and enhance overall operational efficiency.

Asia is making strides in innovation and digitalisation

Across various sectors, Asia has witnessed a substantial increase in digitalisation rankings. Having one of the largest online retailing markets and a vibrant digitalised population, Asian governments are making efforts to further improve the digital landscapes of their countries. Moreover, Asia leads in patent filings, with an annual growth of new patents granted continuously exceeding that of other regions.

Key findings
Global business dynamics snapshots
Key trends in brief
Areas of opportunity
Business dynamics in 2023: Summary
Global trade landscape is shifting, and industrial policies add more dynamics
R & D investment remains crucial, with Asia leading innovation growth
Labour market tightness to ease, but ageing populations and skill shortages still pose risks
Asia’s digital momentum in catching up with Europe and the US is proving successful
AI to have a transformative impact on industries and employment landscapes
Top global trends impacting business environment
Tech revolution: AI adoption freeing up the workforce for more critical responsibilities
Globalisation reset: Building resilience in the everchanging business landscape
Innovation investments: Supporting business environment and driving growth
Shifting labour markets: Governments are stepping up in regulation of gig workers
Skills imbalance: Robust technological development adds to skill shortages
Key trends in brief
Unemployment rates
Employed population
Economically active population
Stock market index
Market capitalisation
Wage per hour
Wage per hour in manufacturing
Proportion of population aged 15+ with higher education
Population aged 15+ by educational attainment (higher)
Bank nonperforming loans to total gross loans


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