They will present major challenges for professionals in the real estate industry like yourselves. Before the onset of the regional economic crisis, the world was moving rapidly towards economic liberalisation and global interdependence. Since then, the momentum towards trade liberalisation has slowed down. Protectionist pressures have also started to emerge to. However, over the longer term, the forces of globalisation and economic liberalisation are expected to gain strength and influence.
Globalisation brings about intense competition for trade, talent and international investments.
It determines how global production, jobs and technology will be distributed. And it will continually throw out new players, new markets and new ways of doing business. Information technology has been and will continue to be a key driving force in the next millennium. The technological revolution will shrink geographical distances, reduce transaction times and increase the mobility of capital, people and information. It will bring about far-reaching changes in the way we live, work and play.