The year 2017 was a busy year, in terms of world politics. Big changes in the business world were also observed. These may play a significant role for large and small companies. Several important decisions which will impact businesses of all types were also made in 2017. Let’s learn about a few events that can influence the year, 2018:
- World equities acquired strong gains in the first quarter of 2017 as the global economy grew. Emerging market equities were largely strong. Besides bond markets experienced a diverse routine.
- The remarkable growth of Bitcoin was one major development of 2017. This year the bitcoin has steadily increased in strength and is ready for more growth in 2018. In the beginning of 2017, it had a value lesser than USD $ 1,000 per coin. Probably it shall end during the year with a value of USD $ 20,000 per coin.
- The global launch of General Data Protection Regulation (GDPR) was another significant event. This directive was implemented in April 2016 for bringing changes in the EU zone. From 2016 till now companies had time to adjust to the changes. From 25th May 2018 the GDPR will be compulsory and effective in EU.
- China announced that it will be spending $ 360 Billion for renewable energy before the year 2020. China also closed 103 coal plants and has planned to cut 30 % of coal production. The country also committed almost a trillion dollars to spend for infrastructure.
- Seventy-five percentage or three-quarters of countries in the world experienced economic growth. More importantly, countries that experienced unemployment in Eurozone had a growth spurt in employment. Russia, Brazil, and Argentina could come out from a recession. Nations that had struggles either had a low-income economy or were fuel exporters. These countries faced natural calamities or civil conflicts in 2017.
- Dubai is moving closer to its goal for 2020, which is to acquire 20 million tourists. Data revealed that tourist influx increased by 7.5 %. Dubai Tourism Department described that luxury five-star hotels make up 33 % of the sum of Emirate’s reserves, with four-star hotels acquiring a 23 %.
- The year also saw improvement in the quality of audit through technology. This pattern is clear evidence that it’s going to be a digital future for audit, advisory and consulting. Such steps are required for developing automation, analytics, as well as to distribute value-added support and growth for future companies.
- Equity valuations are continuing to reach higher values. This is happening as central banks kept the settings for accommodative monetary policy constant during weak inflation. The situation owes to a bigger trend throughout global financial markets. Instability was suppressed while asset prices developed. It occurred due to enhanced economic outlook and risk appetite as well as lower interest rates.
- Fuel and metal costs had the support of rising worldwide demand. Alongside supply limits in the energy sector, hurricane connected hindrances in the United States also influenced this sector. Security issues in Iraq and financial disturbances in Venezuela were the other factors that affected these industries.