How the World Is Shaping Up for 2030 (According to the 8 Predictions for the World in 2030 by WEF)

Founded in 1971, The World Economic Forum (WEF) as “the International Organization for Public-Private Cooperation,” the WEF made eight predictions on how the world will shape by 2030.

WEF focuses on engaging industry leaders in business, culture, society, and politics to shape and be aware of global agendas; their predictions focus on global trends.

The predictions were published in 2016. Eight years on and halfway to 2030, let’s look at the progress and how things are shaping up.

2016 was a tough period with many shocking outcomes, such as Brexit and Trump’s victory. It was nothing compared to the past three years- ever since the COVID pandemic and the Ukraine-Russia war. Still, some incomprehensible events may have halted the progress of many innovative global trends.

1. XaaS (Anything as a Service)

The first prediction made by WEF for 2030 was the widespread adoption of the XaaS model. Anything as a Service or XaaS relates to delivering all products, tools, and technologies on a service model. This means you won’t own anything, not even the undergarments you wear or the laptop you use.

The success of the service model in the IT industry sparked a global trend for businesses to adopt it. More companies are looking to adopt the XaaS and leverage “servitization,” a combined package of products and services.

Rolls Royce is one of the companies leveraging the XaaS model by charging a fixed amount based on flying hours. This helps the company to reduce waste and retain ownership of the product at the same time.

The Fortune Business Insight report values the XaaS market at more than $400 Billion in 2021, projected to grow by a CAGR of around 23% to become a market worth ~$2,400 Billion by 2029.

The XaaS model is likely to be adopted by more companies worldwide as it allows them to adopt a sustainable business model.

2. Carbon pricing

Carbon pricing is the second prediction made by WEF for 2030, an instrument that leverages market mechanisms to impose a cost on carbon emissions.

According to the World Bank, global carbon pricing revenues have increased by as much as 60% to $84 Billion in 2021. The COP26 accelerated the carbon pricing trend and is predicted to rise as multiple countries have come together to implement plans and policies to mitigate climate change.

Carbon pricing will likely lead the way to create a new currency where carbon credits can be exchanged for goods.

3. US dominance is over

The volatility in the energy markets has stumped the US dominance as OPEC countries have led the way in dictating the energy prices. The growing geo-energy politics has resulted in the emergence of many global powers, such as the G8 nations.

The Forbes article highlights four threats to the US that have caused its demise as a world power:

• Redistribution of power among a handful of nations controlling global supply chains
• De-concentration of power away from the nation-states gives rise to parallel layers of governance, such as special economic zones in many countries
• The rise of digitally empowered multinational corporations heavily influences national policies.
• The relentless pace of urbanization in cities competing for natural resources has increased their powers and taken away national strength.

The Ukraine-Russia conflict will likely act as a strong catalyst to further divide global power among other nations.

4. Goodbye to hospitals

The COVID-19 pandemic highlighted the significance of hospitals and public health across the globe, as the death toll totaled 6.5 million lives and counting. However, the world witnessed a miracle as the COVID-19 vaccine was developed and distributed in 25 months which would have taken 5 to 10 years.

The world is increasingly adopting telehealth by leveraging 5G technology which helps medical services to reach even the most remote regions of the world. Thanks to the COVID-19 pandemic, telehealth has skyrocketed by a CAGR of around 34% and is likely to be worth $867 Billion in market size by 2030.

Hospitals will likely be scarce by 2030 with the widespread adoption of telehealth and other medical innovations. COVID-19 accelerated the growth of the telehealth industry and has increased awareness among consumers, businesses, and governments to increase investments.

5. Lower meat consumption

WEF’s fifth and most radical forecast is that humans will consume less meat. Consumers are becoming increasingly aware of the environmental consequences of consuming too much meat.

This shift in awareness has driven the market for plant-based meat products by a CAGR of 19% by 2030, with a total market size of around $24 Billion.

The radical plans of New Zealand to impose a tax on livestock burps and dung is likely to increase meat prices and decrease demand for the same. More countries are likely to adopt such policies to lower meat intake as they fight climate change since livestock are responsible for 14.5% of GHG.

6. Syrian refugees will be CEOs

WEF predicts that highly educated Syrian refugees will have come of age by 2030, and they will actively participate in the economy of various countries.

International refugees are provided with a plethora of opportunities if they have proper access, i.e., if they are in the right countries at the right time. Empathy-led businesses are one of the emerging trends worldwide that place high regard on refugees, minority groups, and victims of violence.

Economies have increasingly incorporated refugees into economic prosperity programs, which benefits both parties. For instance, Jordan’s government has continuously supported incorporating Syrian refugees into their economic zones.

Similarly, internet and communication technology access will be significantly high towards 2030. According to a UNHCR report, “Globally, refugees are 50 percent less likely than the general population to have an Internet-capable phone. While 20 percent of rural refugees have no access to connectivity, urban refugees often have access but cannot afford to get online.”

Syrian refugees transiting Europe had smart phones, but no way of contacting family.

“What we were hearing is that technology is regarded by the people we are here to serve as a need as important as food or clothes,” says Nicholas Kourtzis, Connectivity for Refugees Coordinator for Greece and ex-volunteer as wifi engineer, who calls connectivity a “dignity catalyst.”

He remembers a 75 year-old Syrian man who arrived alone in northern Greece. He did not know if his family, left behind in Turkey, was surviving. . Just ten minutes after WiFi was installed and activated in the camp, the man came up to the technical team to shake their hands.

“Thank you,” he said in gratitude. “You gave me, for the first time in many months, the opportunity to actually talk to my children and my grandchildren and see that they are alive and ok.”

“I don’t care that much if I don’t eat for a day,” another refugee in Lesvos told him, “but I can’t afford to stay without Internet for a day.”

Excerpt from the UNHCR report summary.

Access to the internet and communication technology is vital to improving the living standards of refugees and the rural population. As efforts to improve this have increased, refugees can be linked to opportunities.

Not only Syrian refugees, but we can be optimistic about Ukrainian, Yemeni, Rohingya, or any other refugee groups doing well in 2030.

7. Western democracy at threat

Increased populist and nationalistic movements have put democracy at threat, especially in countries that have experienced a vast influx of refugees. As cracks have seemed to appear in parts of Europe and the rest of the world, democracy is under threat and will be under pressure until 2030 and beyond.

Fast forward to 2022, inflation is the major factor threatening democracy and stable governments. The COVID-19 pandemic and how governments handled the lockdowns also pose political uncertainty as people are growing dissatisfaction.

Joe Biden is currently walking on eggshells as inflation is skyrocketing in the US. As the White House initially ignored inflation data, democratic beliefs and trust in the Biden administration have weakened.

8. Move towards the Red Planet

The final prediction made by WEF for 2030 was the widespread application of space technology and humans landing on Mars.

As investment in space exploration and tourism grows, many skeptics question “what’s wrong with Earth.” Although there is increasing pressure to invest more in the Earth to fight climate change, many billionaires are looking towards the sky to reap gold.

According to Morgan Stanley, the space industry could be worth at least $1 Trillion in 2040 thanks to declining launch costs, technological advancements, and rising public-sector interest.

Only time will tell if we can grow potatoes on Mars, but if the current trend and hype continue, we can reach Mars and beyond by 2030.

Check out other related trend articles:

Top Ten Technology Trends of 2022

Human Resources (HR) Trends For 2023

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