The Global Economy (The Bigger Picture: The Future of Corporate Real Estate)

The Global Economy (The Bigger Picture: The Future of Corporate Real Estate)

April 2017

In an era of rapid change, one factor that is now taken for granted is the globalization of work, culture, and the economy. The world is increasingly interconnected, with news circulating from San Francisco to Sydney in milliseconds and reams of information instantly available to anyone with a phone. This creates endless opportunities for business. Nearly every market in the world is open to everyone regardless of where home base is, and there often seems to be nothing standing in the way of growth. But as anyone who has tried to open a satellite office knows, it is rarely that simple. For every opportunity, there is a challenge to be overcome. Issues of globalization necessarily lead to questions of local significance, as the governmental regulations and cultural norms in Lagos are very different than they are in St. Petersburg. And if most markets are open to competition, the rules governing that competition are not always the same. Finally, the openness of global markets means that problems in one city or nation are very likely to impact every other in some form.

Keywords: The Bigger Picture, economy

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