A global event is an occurrence that impacts across multiple nations and regions, reshaping international relations, economies and cultures. These events can be caused by natural disasters, major political changes or economic crises and have a significant impact on the lives of millions of people worldwide.
Global events can also be used as catalysts to inspire and drive social and environmental change at a national level. Events like the Olympic Games, world expositions and sporting championships can provide a platform to promote sustainable development, stimulate tourism and trade, create jobs and raise the profile of a place. But to fully maximise the benefits of these events, they must be carefully planned and managed in order to generate long-term sustainable impact.
As the occurrence of global events becomes more commonplace, it’s important to understand how they affect us. A lack of understanding can lead to uncertainty and financial losses, especially when businesses are impacted by supply chain bottlenecks, geopolitical conflicts or environmental disasters. The good news is that there are ways to mitigate such risks and protect your organisation with timely critical intelligence.
A key aspect of this is the heightened interconnectedness of the modern world. This means that global events have a much more immediate and profound impact than in the past. Take the current pandemic of COVID-19 for example, which has spread faster than the Plague or influenza due to the emergence of healthcare organisations and the ease of global communication today. Yet, the severity of the pandemic is unequal, with some areas suffering more severe effects than others (as evidenced by the varying rates of death in Europe and India).