Global events are one of the world’s most powerful catalysts for economic, social and environmental change. They can encourage external investment, boost tourism, grow trade, create jobs, raise a place’s profile and bring communities together. They can also galvanise commitment to policy priorities and accelerate or leverage long-term infrastructure investments. However, to harness their full potential they must be deliberately designed and executed to generate positive impacts for people and places around the world.
This article seeks to examine the extent to which the statement ‘globalisation and global events impact all places’ is true. Through utilising examples of historical and present day pandemics (including the Plague, influenza and COVID-19), climate change and natural disasters it is shown that globalisation and its by-products have wide-ranging geographical impacts on ‘all places’. However, the severities of the impact upon different places remain unequal, uncovering the limitations of the claim.
It is well-known that global events can have a profound effect on financial markets. It is a phenomenon reflected in the saying ‘When America sneezes, the rest of the world catches a cold’. Similarly, disruptions to supply chains can have an equally far-reaching impact. As such, it is essential that organisations understand the impacts of these Big Events and know how to respond. Whether it is to ensure that employees are prepared for the upcoming challenges or to protect their assets by investing in risk management solutions, it’s vital that businesses keep up to date with global events.