Accountants are optimistic about the global economy in 2024

A new study by ACCA and IMA has found that finance professionals are feeling optimistic about the global economy. The Global Economic Conditions Survey (GECS) shows a rise in confidence, with indicators for new orders and employment also showing positive trends. This indicates a gradually improving outlook, despite concerns about rising operating costs. Confidence in the Asia Pacific region has surged, reflecting trust in the US economy and positive signs in the global market. Western Europe has seen a moderate rise in confidence as well, hinting at stabilization after recent economic weakness.

Jonathan Ashworth, Chief Economist at ACCA, has noted the positive trends but cautioned against celebrating too soon. The global economy still faces risks and challenges, with below-average growth expected in 2024. Concerns about costs remain high, suggesting that major central banks should proceed cautiously with any monetary easing. Despite the overall optimism, the study shows that rising operating costs are a significant concern, especially in Africa, Asia Pacific, and South Asia. The research also highlights growing talent scarcity and increasing cybersecurity risks as major issues for businesses worldwide.