Global Chamber® CEO Doug Bruhnke was asked to provide perspectives on global investing for the year ahead. The opportunity came from Courtney Fingar, contributing editor for media group Real Asset Media... which covers investment in real assets, real estate, infrastructure and more, and has a readership that includes most of the world's largest capital owners.
Read more from Courtney HERE, and read the Real Asset Insight article HERE (paywall).
Doug Bruhnke's answers are also shown below. Thank you, Courtney!
Read more from other global leaders HERE and the complete March edition INSIGHT magazine.
QUESTIONS and ANSWERS
- How would you describe the 2023 year from your association’s perspective and the international investment community in general?
Last year began with economic pundits predicting U.S. and global recession, and we just didn't see it… and never saw it – except for a few regions of the world – and certainly not the United States. Subsequently Global Chamber had a strong year of growth around the world, including existing chapter growth, and new chapter growth – building out in 195 countries, 525 metro regions. Global Chamber continues to grow in every country except for those with economic sanctions. Overall investment by members of Global Chamber continued strong, and we were busy with requests to connect investors and traders with opportunities worldwide all year with no let up. Global and UNSTOPPABLE!
- Where do you see the best opportunities and what will be the best strategy for FDI success?
China’s economic policies may or may not be optimal for China, but we can say for certain that they’re benefitting some other countries including the U.S., Mexico, India, Vietnam, Malaysia, Singapore, Malaysia, Japan and South Korea. More companies that have been working in China directly or indirectly are choosing to source from one or more of these other countries for more stability and success in the future. Since there doesn’t seem to be any end in sight to their approach, all these countries will remain excellent locations for investment in 2024. In addition, in 2024 watch for continued progress in Saudi Arabia, UAE and across Africa including Ghana, Kenya, Cote d’Ivoire, Rwanda, Botswana, South Africa and Tanzania. Tourism, technology, agriculture, agtech, food and beverage, real estate, clean energy, sustainability practices and healthcare remain strong in top countries.
- What are likely to be the chief positive influences on strategy as we enter 2024?
Strong consumer demand in most countries including the U.S. and the Americas, coupled with ongoing growth in confidence as the growth continues, will drive positive trends in 2024. Technology, especially artificial intelligence will be an engine for growth and a means of both survival and success going forward. In addition, global hiring will continue to grow, enabled by Employer of Record technologies and global support in every area, to bring more companies to global business, for more innovation and success. More leaders will also realize that diversity, equity, inclusion, belonging and sustainability are all more than trends of the day, they are essential for the modern company to innovate, grow and be global. That portends well for the future of business and investment.
- What do you consider to be the main challenges facing the FDI market and your organisation/membership in 2024?
Misinformation has always been a barrier to success, and in today’s world we’re bombarded in business and life with more and more information that needs to be vetted. Here’s a place that AI could be helping more, and perhaps it will. Because it’s easier than ever to create propaganda in business and politics. The good news is that AI and other technologies are available to sort through it all to allow us to better choose the best opportunities.
In addition, working with trusted networks is more essential than ever to not only get the best, most truthful and realistic information, but also when things go a bit wrong, it’s essential to work with people who have essential global characteristics like resilience, communication skills and flexibility to negotiate, mediate and navigate toward solutions.
One reason why trusted networks are so important is that geopolitics are evolving, with wars and corruption being major issues globally. We shall see if the dark forces within Russia will continue to play their recent roles, or a new world order is created that moves past their disruption and opens up more open, free and transparent markets. Corruption slows progress, and inversely transparency support trade, prosperity, peace and peace of mind. There's a reason why those dark forces are against 'globalists'... we hold the keys to a better world, without their corruption.
- Looking back at 2023, what has given you the greatest inspiration for the year ahead?
I’m the luckiest person in the world to be part of daily activities of the Global Chamber, along with having the chance to work with and support the tens of thousands of leaders who are global and UNSTOPPABLE. They’re professional, positive, honest, with high ethical standards and adept at business to make them just right to navigate all that’s ahead. That’s inspiring!
It can be overwhelming to sort through all the opportunities, and it can be frustrating to face setbacks that inevitably happen along the path, and so it’s more important than ever to have mentors and a support structure that you can turn to for advice, support and inspiration. That’s the global tribe for me, and I’m deeply thankful.
Courtney Fingar set up Fingar Direct Investment in 2023 as a boutique consultancy advising governments on investment promotion, location marketing and content creation. She is also a contributor to Forbes.com, writing a regular column on FDI; and a contributing editor for Real Asset Media, which provides market insight, thought leadership, strategy and research with a global audience of senior leaders in the real estate and real asset markets. In 2023 she was also appointed regional director for Europe and communications advisor for the World Association of Investment Promotion Agencies.
Doug Bruhnke is a global entrepreneur dedicated to helping members of Global Chamber® reach new markets across metros and borders more successfully. He's founder/CEO of Global Chamber®, operating in 525 metros, 195 countries. He has a career of global business experience with Dupont, including expatriate assignments in Tokyo and Singapore. He has led major consulting projects at DuPont, General Motors, Johnson & Johnson, the Olympics and more. He has worked in all market segments including technology, materials, pharmaceuticals, automotive, aerospace, industrial, healthcare, life sciences, international trade, logistics and more.
- B.S. Chemical Engineering from University of Utah, with 5 chemical process patents
- Executive MBA Michigan State with 37 years of exporting and global trade experience
- Member of the Arizona District Export Council and Advisor for U.S. Global Leadership Coalition
- German-Polish American born in Mount Kisco, NY, with a Greek-American wife of 41 years
Global Chamber® is a growing and collaborating community of CEOs, executives, professionals and leaders in 525 metro regions around the world... connecting member businesses to new opportunities and advancing growth and success. It's the only chamber of commerce in the world operating in hundreds of locations that helps leaders to export, import, and invest through warm introductions to clients, partners, projects, employees and resources. Global is good!
Global Chamber® is a registered trademark of Global Chamber, LLC since 2014.
Originally published at https://www.globalchamber.org/blog/2024/03/19/global-chamber/2024-a-year-of-cautious-optimism-and-endless-opportunities/
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