2023 will come to an end soon, as will 2024, which will arrive soon. Many developments have occurred this year, particularly in the financial field, which is expected to continue to evolve.
It is appropriate for us to predict what financial conditions will be like in the next year because predictions are the key to making wise decisions in financial planning.
How will the global economy be in 2024? What is the dominant market trend? This article will discuss financial predictions for 2024 and provide insight for financial industry participants in planning their future steps.
1. Global economic growth is predicted to be stable
Quoted from the financial data research institute S&P Global Market Intelligence, it estimates that global inflation figures will continue to fall, which means the global economy is predicted to be stable. Consumer price inflation in 2024 is estimated to decrease to 4.7% compared to 2023, which reached a peak of 7%. Prices of products and services on the market are increasingly under control in most parts of the world.
2. AI technology as the main factor in economic growth
In 2024, the technology sector is predicted to remain the main factor in economic growth. Developments in Artificial Intelligence (AI), Internet of Things (IoT), and blockchain technology are expected to create new opportunities and revolutionize various industrial sectors.
Investors may consider adding innovative technology stocks to their portfolios.
3. The impact of the election on economic policy in Indonesia is still uncertain
Currently in Indonesia the campaign period is underway, for the presidential, regional head and legislative elections in 2024. This geopolitical influence is a source of risk and uncertainty in estimating economic policy in 2024.
Each presidential candidate has their own economic policies. Therefore, it is important for us to understand each policy, in order to prepare financial plans for the future
4. The US dollar will weaken
S&P Global Market Intelligence data predicts that the United States dollar will face a decline in value. The cause is the increasing inflation rate and the current account deficit.
Meanwhile, the yen will strengthen against the US dollar due to appropriate monetary policy decisions by the Japanese government.
5. Sustainable investment is gaining popularity
Awareness of environmental, social, and corporate governance issues is improving. 2024 could be the year where sustainable investment, environmental issues, and community sustainability become the main focus for investors.
Companies that show a commitment to sustainable business practices can be attractive investment options.
6. Is the crypto market experiencing an increase?
The crypto market has been in the spotlight in recent years. The rising trend in the value of Bitcoin and other cryptocurrencies may continue, but investors also need to consider the high level of uncertainty.
Stricter regulations and innovation in the sector could play an important role in determining the direction of the crypto market in 2024.
7. Increased demand for natural resource commodities
With the post-covid global economic recovery, the demand for commodities and natural resources is expected to rise. Metals, oil, and agricultural products prices may experience increases in response to higher demand.
Investors who understand the dynamics of commodity markets can benefit from this growth potential.
The importance of financial prediction in 2024 for financial decision-making
Financial prediction in 2024 offers an optimistic overview of global economic growth, driven by technology, sustainable investment, and increasing demand for commodities.
While challenges remain, a thorough understanding of these trends can assist business owners in making smart decisions and building a resilient portfolio.
For businesspeople or investors, it is important to conduct in-depth research before making an investment decision. Trends and predictions can provide guidance, but market situations always change.
By considering these various factors, we can be better prepared to face challenges and take advantage of opportunities in the financial sector in 2024.
