GLOBAL FACTORS
Island-based public and private sector organisations will need to monitor and adjust strategy and policy at regular intervals to take account of a rapidly changing world. Issues considered to be of key importance at the present time and which will be comprehensively addressed at regular intervals in the Impact and Review programme are identified as follows:
Geo-Political Tensions
Territorial conflicts, particularly in Eastern Europe, Middle East, and Sudan are intensifying. In addition, major internal unrest and disputes on a country-by-country basis are increasing in frequency and uncertainty over USA foreign and national policy post its November election is of real concern. These global tensions and events are inevitably destabilising international relations and markets and may well lead to further crises elsewhere.
Migration Trends
Many island communities are now in the front line of migration trends which are being driven by civil conflict, climate change, and economic stress particularly in Africa, the Middle East, and in Central and South America. This exposure, which presents economic and social challenges particularly for those island communities located on the primary migration routes, is likely to intensify rather than decrease in the short and medium term.
Climate Change
Climate change ramifications are arguably the greatest common threats facing island communities globally. Unfortunately, climate change has tended to drop down the political agenda this year. Therefore, how island governments are addressing the threats will be the primary focus of the January 2025 Impact & Risk Review. This Review will also assess the outcomes from the November COP 29 conference.
Inflationary Triggers
Major inflationary pressures over the last couple of years due primarily to the repercussions on world trade of the war in Ukraine and the COVID Pandemic are now diminishing. However, further inflationary triggers could now reoccur globally as a result of both the Middle East conflict and a further escalation of the Ukraine war adversely impacting supply chains, energy costs, and communication links.
