The world is changing more rapidly than ever. Globalization continues its march. Gaps in power between developed and emerging countries continue to narrow, driven in part by the politics and economics of energy. The financial landscape is in turmoil, driving increased regulation. Aging populations and the different demands of the younger generation (Gen Y) challenge the workforce model that has existed for decades. Technology continues to alter how we communicate and act. And climate change concerns challenge how businesses operate.

The megatrends that follow highlight the most influential trends we see in this changing world — some that are driving the change, and some that are driven by it.

❏ In The accelerating shift of power from West to East we discuss how the engine of growth in the global economy has moved from developed to emerging countries, how commodities and the advent of a new middle class are accelerating this move, and how emerging market multinationals are not just here to stay, but likely to become global champions in many industries.

❏ In The changing financial landscape we look at the rise of the new power brokers (sovereign wealth funds, PE, hedge funds etc.) and how the financial crisis will impact their trajectory, as well as discussing how banking is being transformed and how governments are taking a more active role in financial markets.

❏ In Overhaul and globalization of the regulatory environment we look at two key trends in regulation — the move toward greater regulation and the move toward more globally consistent regulation — and consider the role the financial crisis will play.

❏ In The rising economic importance of energy and commodities we look at the scarcity challenge, the impact of uncertainty in oil price, the rise of cleantech and the drive toward greater energy efficiency.

❏ In Responsibility firmly on the corporate agenda we consider the increasing environmental, social and ethical expectations and obligations on businesses and their associated opportunities and risks, and we look at the possible impact of the financial crisis.

❏ In The next wave of technological innovation we discuss how technology developments are still driving change — for businesses and consumers — and how the next wave of digital technology takes this even further.

❏ And finally, in The increasing challenges of managing and developing talent we look at the difficulties in attracting, managing and developing a global workforce — a challenge compounded by changing demographics, the different demands of Gen Y and increasing diversity — and consider the impact this has on businesses worldwide.

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Beyond the BRICs
While the BRICs (Brazil, Russia, India, China) are clearly the major players (with China alone contributing nearly 27% to global growth in 20075), another group of countries are emerging that have the potential to behave like the BRICs — driving growth and making waves in the global markets. South Korea, Mexico and Turkey may be the most commonly cited of Goldman Sachs’s “Next 11,”6 but countries as diverse as Egypt, Iran and Vietnam have been identi ed as having the potential and conditions to rival the BRICs — and some developed economies — in the future.

Download Global megatrends 2009, Ernst & Young Report

PDF format, 951KB, 20Pages.

CONTENTS
Introduction: an era of uncertainty 1
The accelerating shift of power from West to East 2
The changing financial landscape 4
Overhaul and globalization of the regulatory environment 6
The rising economic importance of energy and commodities 8
Responsibility firmly on the corporate agenda 10
The next wave of technological innovation 12
The increasing challenges of managing and developing talent 14

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