? ASIA AREA’S ECONOMIC GROWTH AND INFLATION OUTLOOK APPEARS TO BE MORE OPTIMISTIC THAN THE AFRICA, AMERICAS, AND EUROPEAN AREAS.

Let’s take a moment to look at how Chief Economists around the world view the global economy in terms of economic growth and inflation.

In the realm of global economic outlook, the Asia area shines brightly with a majority of Chief Economists projecting robust economic growth ranging from 67-100%, coupled with a consensus towards moderate to lower inflation rates (75-100%). This optimistic sentiment could attract investors seeking lucrative opportunities, potentially bolstering purchasing power and elevating living standards in the region.

Turning to the American area, a considerable percentage of Chief Economists (76-97%) express optimism regarding economic growth, paralleled by expectations of moderate to low inflation (68-78%).

In Sub-Saharan Africa, while economists anticipate moderate to stronger economic growth (71%), concerns arise with 53% expecting inflation to ease, signaling a subdued outlook relative to other regions. Nonetheless, the region holds promise for growth, contingent upon proactive and strategic leadership.

Conversely, Europe appears to face challenges, with only 31% of economists expressing optimism about economic growth. However, there's optimism regarding inflation, with 82% projecting ease in 2024.

In summary, the outlook suggests a global landscape ripe for moderate to stronger economic growth, buoyed by positive inflation expectations despite prevailing challenges like high crude prices and geopolitical tensions. For companies eyeing investment opportunities, the Asia region stands out with its high confidence among economists, presenting potential avenues for both retail and institutional investors. However, given its latent potential for explosive economic growth, Africa should be noticed, contingent upon visionary leadership. Europe's subdued growth prospects warrant caution, although favorable inflation dynamics could offer stability for investment decisions.

Writer: Benjamin Nathan Otchere, FPWM, MBA

Global Strategic Finance Analyst | Certified Financial Planner/Advisor & Wealth Manager

Source/Credit: Chief Economic Outlook, World Economic Forum, May 2024