Bulgarians Show Confidence in Euro: 25% of Household Deposits Already in Euros
A significant portion of Bulgarians' savings is already held in euros, signaling the country's readiness for the currency switch, even before its official adoption
If you want to stay on top of the Global economic trends in 2025 be sure to read this.
The way that we do business changes year upon year. There are various factors that help decide whether economic growth will increase or decline each year and many of these we can plan for. However, there are also factors that are out of our control - yes we're looking at you Covid!
Even so, being as prepared as possible will help you and your business in the long run. Today, we will take a look at some of the expected Global trends for 2025 and discuss what factors are pushing these results.
The outlook for 2025 looks a steady one. Global growth is expected to be at around 3.3 GDP. Granted this is slightly lower than the 3.7 GDP average between 2000 - 2019, but it's steady. And with inflation expected to continue to decline by over 4% this can only be good news, right?
Well not exactly, so don't go running to GG.BET just yet to place your bets on economic growth. The global growth rate isn't sufficient enough to sustain economic development. Therefore, we can conclude that while your business is not likely to lose money this year, it will probably be difficult to turn a profit too.
The best advice we can give is to maintain a steady ship so to speak. Keep risks down to a minimum and look at this year as a building platform for the future.
While there will always be those factors that affect economic growth each year, there are some that are specific to a certain period in time. They might not necessarily be new factors, but they also don't crop up as regularly.
As the world evolves the requirement for greater skill sets increases. Our skill set or lack of it can have a massive impact on economic productivity. While it isn't easy to measure, it's clear there is a clear skills gap across the world. What we mean by this is that the skills required to fill certain jobs aren't being met.
But why is that? Surely we have access to better resources than ever before. The simple answer is we can't keep up with technological advancements. While technology continues to grow rapidly, companies are struggling to train their workforce at the same pace.
Donald Trump's new proposed trade policies could have a massive impact on the world's economy but oddly enough the US won't be. While you wouldn't expect the US to suffer given the new policies are there to tip the scales in their favor, they don't appear to be set to gain much either. We'll apart from the already wealthy that is.
It's the countries outside of the US that will be directly impacted, with China expected to take the biggest hit. You could argue that this will help smaller economies grow and help to stop the monopolistic business world we live in today.
Real Estate was one of the areas hit the hardest during the pandemic and it's only slowly starting to find its feet. With interest rates expected to decrease, we could see an uptake in property sales. However, on the flip side of that it isn't decreasing enough to offset the rise in property prices. So can we expect much the same as last year?
Possibly not. Industry experts are predicting a 16% rise in property sales which is driven by ambitious millennials. A recent survey highlighted that almost 80% of millennials that aren't on the property ladder would like to join it.
The other key factor in this area is the baby boomers. Baby boomers equate for the largest portion of property ownership and as they begin to either downsize or unfortunately pass away, we could see a huge increase in sales.
There are of course many other factors to consider but hopefully we have given you some food for thought. As previously mentioned, our advice would be to keep risks and investments to a minimum this year. We also believe that given the fact that this year could be a stable one, it could be a good time to get all of your infrastructure and processes in place. This will mean that you're ready to scale up over the next two to three years or whenever the time comes.
A significant portion of Bulgarians' savings is already held in euros, signaling the country's readiness for the currency switch, even before its official adoption
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