Amid persistent economic and geopolitical shocks, 80% of world population is expected to experience slower growth than in pre-COVID decade. This downturn is exacerbating a range of interconnected global challenges, including the climate crisis and a weakening social contract, which are collectively reversing progress in global development.
While reigniting global growth is essential to advance well-being and address key challenges, a simple “return” to GDP growth is not enough. The World Economic Forum’s Future of Growth Report 2024 calls for a better balance between the quantity and quality of growth, noting that the world is just halfway towards achieving quality growth.