This issue’s discussions underscore varied economic and political shifts across key regions. In the United States, the presidential race heats up, potentially influencing global market dynamics. Switzerland’s focus on impactful investment strategies is bolstered by new think tanks translating dialogue into action. The UK navigates governmental shifts with potential impacts on healthcare and investment. Dubai continues to attract substantial investments, particularly in real estate and startups. New Zealand leverages its strategic position to enhance technology and innovation sectors. Meanwhile, Singapore remains a stable hub, drawing significant global investments and nurturing a forward-looking economic environment.

What is happening in Germany?

Anneliese Sound, MD at Future Potential Management, shared that Germany is currently navigating a period of economic and political fluctuations. With several elections underway, there’s a noticeable atmosphere of uncertainty. The market has shown volatility, influenced by recent developments in major companies, as the nation anticipates upcoming changes in both the US and the Middle East.

What is happening in Switzerland?

Shubhang Shankar, MD at Syngenta Group Ventures, shared that Switzerland’s agricultural sector is experiencing a significant downturn, with industry revenues and profits down by over 20% compared to the previous year. Investment in the sector has plummeted by approximately 70% from 2022 levels, reaching lows not seen since 2016–17. Among startups, there is noticeable distress, with frequent adjustments in valuations and some businesses closing. This reflects a broader challenge in raising sufficient funds for expansion beyond Series B. Despite these challenges, there is a cautious hope that the sector might be nearing its lowest point and could begin to recover, though a turnaround is not expected in the immediate six to twelve months.

Deniz N. Erkus, Partner & UNDP International Consultant at Leonie Hill Capital, reported on the growing focus on impact and regenerative investing in Switzerland. She highlighted the establishment of a think tank in Luxembourg designed to convert the extensive discussions typical at investment events into actionable outcomes. This initiative aims to create meaningful results in the realm of sustainable and impact investing, involving a diverse group of professionals from various sectors.

What is happening in Finland?

Pasi Pohjala, Founder and CEO at ATG Consulting, shared insights on Finland’s dynamic startup ecosystem amidst broader economic uncertainties. While the government is adjusting its budget to accommodate fiscal challenges, including a slight increase in VAT, these measures are seen as steps towards long-term stability. In the startup sector, despite a downturn in venture capital and angel investments, there remains strong momentum with several successful funding rounds. Notably, a Finnish AI startup achieved a significant exit recently, acquired by a British entity, boosting confidence across the ecosystem. This success story highlights that even in challenging times, well-strategized startups with clear market traction continue to thrive and attract investment.

What is happening in Andorra?

Sander Wichmann Mortensen, CIO at SANUS Capital, shared that Andorra is currently engaged in discussions regarding an association deal with the European Union, which is set to be voted on in the coming years. This is particularly notable as global trends surrounding trade, border policies, and migration are increasingly under scrutiny.

What is happening in Australia?

Craig Astill, CEO at The Caason Group, highlighted that Australia, like much of the world, is closely monitoring economic and political developments, especially influenced by situations in the Middle East. Domestically, discussions around interest rates are prominent, with the Reserve Bank recently deciding to maintain the current rate, despite potential increases due to inflationary pressures and employment concerns. In the technology startup sector, Craig noted a dramatic reduction in funding over the last 24 months, which has significantly affected industries like agriculture and mining. This financial tightening is impacting many companies, with a noticeable increase in those entering liquidation, receivership, or administration. Despite these challenges, Australia remains actively engaged in global economic shifts, reflecting its interconnectedness with broader international trends.

What is happening in Singapore?

Sharvin Baindur, Chief of Staff at Credit Saison, shared that Singapore is embracing new and positive regulations aimed at integrating traditional financial institutions with decentralized finance (DeFi) and blockchain technologies. The country is also advancing its defense capabilities, particularly in drone technology, enhancing soldier performance in the field. In the FinTech sector, although the growth has stabilized, adoption remains widespread. Sharvin also noted a significant influx of family offices into Singapore since the 2020, reflecting the country’s continued appeal as a global financial hub. Additionally, the excitement around Singapore’s National Day celebrations underscores the vibrant community spirit. Additionally, Anjar Kusumadinata, CEO at BE Investment Group, reported that Singapore is currently experiencing a stable political and economic environment, with continued economic growth. This stability and growth are attracting substantial attention from investors looking to capitalize on the favorable conditions.

What is happening in Japan?

Yoshiyuki Oba, Co-Founder at COREangels Pacific, shared insights on the significant economic developments in Japan. Recently, the Bank of Japan raised the short-term policy rate to 0.25%, marking the end of an eight-year period of negative interest rates, a move signaling potential economic recovery from decades of stagnation. Despite this, Yoshiyuki expressed concerns about the timing of the rate hike, noting that macroeconomic indicators such as real wages, GDP and domestic consumption have not shown improvement over the past year. Reflecting on his long career that began during Japan’s economic bubble, he remains hopeful yet cautious, anticipating a potential revitalization of the Japanese economy by 2025 amidst global market volatility.

What is happening in Europe?

Martin Fritsch, Group Chief Financial Officer at VFS Global, shared insights on the economic situation in Europe, particularly focusing on the repercussions of a significant real estate insolvency in Austria. This event, centered around the Banco Empire, has triggered a cascade of bankruptcies among subcontractors, significantly affecting the Austrian economy. This situation has led to a somber economic climate, with a need to differentiate between typical economic data and the specific impacts of this insolvency. Additionally, Martin noted that the growing recognition of the ongoing crisis in Germany is prompting louder calls for action, suggesting that while the current outlook is grim, there is potential for positive change as responses are mobilized to address these challenges.

What is happening in Dubai?

Danish Rizvi, COO at SASCO HOLDINGS, shared that Dubai is currently experiencing robust economic growth, with GDP projections at around 4% for the year, despite an anticipated inflation rate of 2 to 3 percent. Over the past few years, the UAE, particularly Dubai, has attracted significant investments, becoming a favored destination for the wealth of numerous billionaires and millionaires’ family offices. This influx of capital has primarily fueled the real estate sector, which is performing strongly. While other sectors maintain steady progress, the regional geopolitical landscape presents concerns for the government. Additionally, the startup funding sector in Dubai has seen a concentrated focus, marking it as another thriving area in the region.

What is happening in the U.S?

David Watts, CEO at Crypto Custody Trust, reported that the U.S. is currently engaged in a closely contested presidential race, with Democratic candidate Kamala Harris recently announcing Tim Walls, Governor of Minnesota, as her running mate. This decision is part of the strategic positioning ahead of the election, where key swing states are expected to play a pivotal role. The outcome of this election is anticipated to have significant implications, given the diverse policy perspectives of the candidates, especially on international and economic issues.

What is happening in New Zealand?

Andeed Ma, Partner at AIII and author of “AI for Humanity: Building a Sustainable AI for the Future,” shared his perspective on New Zealand’s promising market. He emphasized the strategic regional collaborations and geographical advantages that make New Zealand an attractive hub for international business, particularly in technology and startups. Despite some current economic challenges, significant government investments in infrastructure, like the development of new highways and economic zones in Auckland, Hamilton and Tauranga, are laying the groundwork for future growth. With his deep involvement in the AI sector, Andeed is especially optimistic about the potential for New Zealand to foster innovative global companies and AI-driven solutions, aligning with his vision for a sustainable AI future as detailed in his book.

What is happening in the UK?

Nadia Caro-Goldrine, Founder at EVOLVERE FUTURE OF HEALTH, highlighted the recent governmental change in the UK and its anticipated impact on innovation and healthcare investment. She noted that new policies are expected to facilitate investments in innovative companies by leveraging pension funds. Despite the broader economic challenges and high interest rates, there is optimism for the integration of technology solutions, such as AI and robotics, within the National Health Service (NHS) to improve efficiency and reduce costs. Nadia emphasized the strategic opportunities this creates for healthcare companies looking to collaborate with the NHS and private sector in these transformative efforts.

The 186th G.I.L.C. Summit brought together top investment professionals from around the world gathered to delve into the evolving economic landscapes across various nations. Stay ahead in the ever-changing world of investment by registering for one of our upcoming events.