The World Economy in 2024 – Leaving Crisis Mode Behind, but Structural Changes Ahead? 2024 | Munich Re | 27 February 2024 | Online

The global economic order is about to change. Two major crises in just three years – the pandemic-related recession in 2020 and the energy price shock in 2022 – have demonstrated the fragility of the world economy and the (geo-)political order. Geopolitics will likely grow in relevance over the coming years, affecting businesses, financial markets and the overall economy alike. As globalisation seems to have peaked and new models of international trade and investment linkages are emerging, the positive effects of both higher growth and lower inflation from global economic integration will likely wane.

Climate change and decarbonisation efforts will also transform economies and, amongst others, lead to higher inflation. Insurers and reinsurers should consider these changes, as their business will likely be affected in various ways. This seminar will focus on these trends and changes, and on the global outlooks for economic growth, inflation and interest rates in 2024.