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What to watch in 2024 (Global Forecast, EIU)

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Since the Hamas attack on Israel on October 7th, Israel has made significant inroads into degrading Hamas’s capabilities but could extend its Gaza campaign southwards to further weaken the group. In EIU’s latest Global Outlook video, editorial director of the Middle East and Africa, Pat Thaker, and senior analyst, Keren Uziyel, discuss the next phase of the Israel-Hamas war.

North America
Although the US presidential election in November will dominate the outlook for North America next year, the region must also contend with the effects of higher borrowing costs. 
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Latin America
Latin America is going through a period of substantial political change, but many new governments have now settled into office. Although policy uncertainty will start to subside in 2024, democratic backsliding and social unrest will remain risks.
Despite significant economic headwinds facing Europe, the most pressing developments to monitor next year will be the performance of new governments and decarbonisation efforts.
Africa will be the second-fastest-growing major region in 2024, boosted by the services sector, which continues to play an important role in East Africa. However, security threats, political instability and repayment burdens will be risks to watch next year.
Middle East
The Israel-Hamas war will continue to reverberate throughout 2024 and fuel simmering resentment towards Israel and its Western allies. The outlook is bleak for Arab-Israeli relations, and Iran’s proxies will be more disruptive after a period of relative calm.
Asia is expected to account for 60% of global GDP growth in 2024 and the green energy industry will be a bright spot. The political outlook will be dominated by elections across the region, including in important economies such as India, Indonesia and Taiwan.
Europe outlook 2024
North America outlook 2024


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