Skip to main content

As the year comes to a close, you may be reflecting on some of the key themes discussed in your boardrooms as you made critical decisions for your business.

We present you with five themes that you focused on this year with our highlights and predictions for the New Year.


Innovation & Risk

To remain relevant and competitive, businesses must remain nimble and adapt to the changing global environment. Finding new and innovative ways to solve problems and offer new solutions, while managing risk is essential.

With Latin American politics in flux, expert Sergio Guzman, of Colombia Risk Analysis, offered his advice for foreign investors in the region.

As geopolitical tensions flared, inflation rose to alarming levels, and Russia’s attack on Ukraine persisted, did you think about ways to recession-proof your organization?

In our interview with BIO’s global healthcare expert, Phyllis Arthur, you learned how advancements in biotech and investments in vaccines continue to dramatically impact healthcare innovation.

2023 Prediction

Customers will continue to press businesses to offer increasingly innovative, cost-saving solutions while business risks from cybersecurity to intellectual property will persist and gain in focus and become top priorities for organizations.



The pandemic proved that the global supply chain was more fragile than we thought. With geopolitical tensions on the rise, you found yourself looking for ways to produce your goods closer to home and nearshoring became a priority.

For years, the world relied on China for manufacturing. Today, Mexico, Thailand, and Vietnam have emerged as key alternatives and have helped companies reduce supply chain delays and costs.

Mexico Market

Colombia is a prime example of the nearshoring opportunities that exist for Western companies seeking to bring operations closer to home and save money, as ProColombia USA Director Ricardo Pedroza shared in his interview.

2023 Prediction

Nearshoring will remain a key business strategy for many companies, resulting in higher revenues, customer acquisitions, and cost-savings. Mexico, Thailand, and Vietnam will continue to emerge as key alternatives to China.



Carefully researching the culture, customs, and traditions of a new market before conducting business there is a key to your success and often overlooked and underestimated. Embracing the local culture will always be important to building long-standing international partnerships.

Even some of the world’s most well-known brands failed to embrace culture in their expansion projects – from Starbucks’ flop in Australia, to Walmart and Amazon’s failures in Asia.

Having an “Asia Strategy” is nonsensical, as you learned in our interview with financial executive Aseem Goyal.

2023 Prediction

Cultural mindfulness will emerge as a top priority for executives who recognize that in order to achieve international success, their staff must be properly trained to work in other cultures.



By 2032, most of the the world’s labor force will live on the African continent. How will you leverage the talent, natural resources, and other incentives in Africa? If you don’t have a strategy in place, now is the time to consider one.

In our interview with African expert, Rubby Golo, you learned of the opportunities for fintech, agriculture, healthcare services, and energy companies; and that THE TIME IS NOW for Africa.

These four fast-growing markets in Africa are ripe for investment and growth opportunities. What’s your Africa strategy?

2023 Prediction

While corruption and energy infrastructure matters will only slightly improve in Africa, the region will gain new attention from foreign investors as the cost of goods and labor continues to increase elsewhere, and while geopolitical tensions persist in Asia.


Global is Good

Amid uncertain economic forecasts and geopolitical concerns, our research shows that executives remain positive about doing business internationally. While global risk will unfortunately always exist, what is the risk of inaction?

73% of business executives maintain a positive global business outlook, according to our biannual Factum Global Business Sentiment Survey. Despite uncertainties, companies are continuing to operate internationally, forming new strategic partnerships, and using innovative means to remain adaptable and competitive.

A few final reminders on your international business etiquette. Do your homework before you leave. Knowing how business is done locally could make or break your deal.

2023 Prediction

Global will continue to be good in the new year with inflationary concerns lessening, geopolitical tensions (slightly) cooling, and global health crises waning. Global expansion will be a key priority, as will a renewed professional development focus on global mindset development and cultural awareness.

While you prepare for your winter holidays, we ask you to reflect on these themes and how you will continue to address them in the New Year. We wish you and your loved ones a joyous conclusion to 2022 and a very happy and prosperous New Year.

If you missed our Market Spotlights, check them out here