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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.

1

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.

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.

2

Nearshoring

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.
Mexico Market

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.

3

Culture

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.

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.

4

Africa

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.

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.

5

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?

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