After a somewhat turbulent 2023, which ultimately turned out much better than expected, 2024 is shaping up to be as decisive as it is uncertain, both in (geo)political terms, with more than 60 national elections - presidential and/or legislative - and in economic terms, with risks mounting on a still slowing global economy.
Rising interest rates and prices in commodities, global shortage of labour: is the construction sector affected by a crisis on all fronts? The sector is facing many difficulties that we expect to persist this year. However, there are plenty of opportunities for growth, in particular thanks to the growing needs associated with the energy transition.
2024 will be a pivotal year for global trade and (geo)political stability, with Coface's social and political risk index warning of a high-risk, shaky environment worldwide. Find out more about the 3 risks to watch out for this year.
No single party managed to win an absolute majority in the contested legislative elections held on 8 February 2024. A total of 128.5 million voters were called to the polls, with a final turnout of 47%. Independent candidates affiliated to the Pakistan Movement for Justice (PTI) came out on top (93 seats), followed by the two traditional parties, the Pakistan Muslim League (PML-N) and the Pakistan People’s Party (PPP), with 75 and 54 seats respectively. The latter two joined forces with five smaller parties to win an absolute majority.
Explore how Servier, one of France's top pharmaceutical groups, shifted from local credit initiatives to a robust global credit risk management programme in collaboration with Coface. Discover the strategic collaboration that has propelled Servier's international success.
Construction and real estate sectors are among the most cyclical sectors. Sensitive to changes in the labour market, prices in commodities and, first and foremost, the interest rate environment and accessibility of credit, they are currently under strain. And things are unlikely to get any better in 2024.