Breakthrough innovation is necessary to address large-scale challenges (e.g. ageing economies, climate change), while new solutions are also targeting relatively minor problems (e.g. payments, streaming). This backdrop has created a fertile ground for disruptive innovation and Thematic investing.

Cities have always been hubs for talent, capital and innovation. In the last decade, hundreds of large cities have been built in emerging economies, attracting significant infrastructure investments. Understanding the advantages and challenges of future cities can help us identify sources of growth.

The forces that underpin this megatrend include ageing populations, the outlook for future jobs, immigration pressure, skills imbalance and different priorities of younger generations. Changes in global demographics will bring significant challenges and opportunities for societies and businesses.

An expanding population and the rising demand for food, energy and materials continue to strain the finite resources of the planet. The need for solutions that improve energy efficiency, lower food waste and provide alternatives to scarce resources has never been greater.

In the last twenty years, developing economies have been lifted by the rising tide of globalisation and manufacturing shifting. The emergence of a sizeable, aspirational middle class, particularly in China might offer significant growth potential for domestic and multinational firms.