Decent Work and Growth

In September 2015, 193 world leaders agreed to 17 Global Goals for Sustainable Development. If these Goals are completed, it would mean an end to extreme poverty, inequality and climate change by 2030.
Goal 9: Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation.

[New] The market size of the global open banking industry is set to reach $43.15 billion by 2026, at a compound annual growth rate of 24.4%.
[New] A recovery plan based on lower-carbon emissions could not only make significant emissions reductions needed to battle climate change, but also create more economic growth and jobs than a high-carbon recovery plan would.
[New] GDP growth was expected to be 7.2% in its central scenario in 2021, with the UK economy returning to its pre-pandemic peak by the end of 2022.
[New] Strong growth in global chemicals demand in 2021 is expected as supply chains are refilled, before there is a period of steady growth of 15-20 million metric tons annually.
[New] The segment that is expected to experience the biggest uptick in spending is platform as a service, with Gartner predicting growth of 26.6% to $55.4bn in 2021.
[New] Liquefaction capacity in North America is expected to increase by 156.2 mtpa, from 69.9 mtpa in 2020 to 205.1 mtpa by 2024, registering an average annual growth rate of 26.9%.
[New] The government support should reduce the negative impact, but we expect the Austrian economy to shrink by 1.5% in the fourth quarter and an overall contraction of 7.5% for the whole of 2020.
[New] Vietnam's growth in 2020 is expected to be 2.4%, among the highest in the world, thanks to its decisive steps to contain the health and economic fallout from COVID-19.
[New] In 2020, Reddit will see a sharp acceleration in US user growth, with the number of monthly users in the US growing by over a quarter (25.3%) from last year to reach 37.7 million.
[New] S&P sees the Israeli economy shrinking as a result of the coronavirus pandemic by 5.0% in 2020, but sees recovery in 2021, with 4.5% growth.
[New] Yesway plans to grow its portfolio to over 500 convenience stores in selected regions of the United States over the next several years.
[New] Market research firm TechNavio is predicting a short-term slump in the automated test equipment market as a result of the global coronavirus pandemic, followed by a rebound and growth through 2024.
[New] World dairy trade in 2020 is forecast to grow to 78 million tonnes (milk equivalent), up 1.5% year - on-year, nearly equal the average growth rate for the preceding five years.
[New] Economic growth rates in the post-COVID - 19 world will be lower and, by 2035, global gross output (sales) levels will be about 2.8% lower than the pre-pandemic forecasts from 2019.
[New] The Geospatial Analytics Market Size is Projected to Grow from USD 52.6 Billion in 2020 to USD 96.3 Billion by 2025, at a Compound Annual Growth Rate of 12.9% During the Forecast Period.
[New] The total number of insurance telematics policies in force in North America is forecasted to increase from an estimated 14.7 million policies at the end of 2019 to reach 53.6 million policies by 2024, achieving a compound annual growth rate of nearly 30%.
[New] China is the only country in the world expected to see year-on-year growth in oil demand in 2020 - a marginal 0.3% to 14.8 million b/d.
[New] The global advertising agencies market is expected to decline from $346.9 billion in 2019 to $346.5 billion in 2020 at a compound annual growth rate of -0.12%.
[New] A transition to a nature-positive economy could generate up to $10.1 trillion in annual business value and create 395 million jobs by 2030.
[New] Economic activity in Australia's major trading partners is forecast to contract by 3% in 2020, and gradually recover in coming years - with growth of 6% in 2021 and 4% in 2022.
[New] The continued growth of wind and solar means renewables, including hydro and bioenergy, would displace coal as the largest source of the world's power generation by 2025.
Over the next five years, COVID-19 is expected to delay economic growth both in Africa as well as the rest of the world.
In the United States, most commentators are anticipating further fiscal stimulus, which will boost growth in 2021 and bring the level of GDP closer to pre-pandemic forecasts by 2023.

Last updated: 22 November 2020

Decent Work and Growth

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