2024 Year in Summary

 

Hello everyone,

    To begin with, I want to congratulate you all on making it to the end of 2024! We're here, at the end of the year, again. Did you finish your 2024 New Year resolution? Good job if you did because most people give up after January 19th. 

    These years passed in the blink of an eye with the news and trends keeping us busy. Given everything that happened this year, we know it has not been peaceful in politics, economy, or foreign affairs. In this post, let's summarize some of the major economic events of this year before we head into 2025.

    This year is a leap year...

1. Russia-Ukraine War continues
• Unfortunately, the Russia-Ukraine War has not ended. The war is an economic burden for all parties involved. For Russia, the war cost the nation 500 million dollars to 1 billion every day. As a result of the war, Ukraine faced a huge GDP drop with businesses shutting down and millions of people fleeing the country. This year, Biden announced 2.5 billion dollars in aid to Ukraine for the war to continue.
2. Gaza War
• Gaza War started in October 2023 with a surprise attack from a Hamas-led militant group on Israel, and it has been continuing since then. The war drained the economy of Hamas, Israel, as well as Lebanon, a nearby country who's major income is reliant on tourism. With the unemployment, the people escaping from that region, the war became an economy burden.
3. The economy slowly recovering
• Fortunately, the economy in America is recovering after COVID-19 in 2020 and inflation in 2022. Although you probably did not feel the recovery since the price of your Starbucks coffee is not four dollars like it used to be, the economy is recovering and doing better according to the economists. The stock market experienced significant growth that did not happen since the 2000s. Our economy still has hope...
4. Taylor Swift's Eras Tour
• This year, Taylor Swift continued her Eras Tour. The Eras Tour is not only one of the events that brought people together, but it also created a significant economic impact. In 2024 as consumerism and tourism return, more people were willing to travel and spend money on the Eras Tour. At almost every location, the Eras Tour generated profit for the local tourism industry and boosted the local economy.
5. Paris Olympics
• The Paris Olympics is a big source of entertainment this summer with amazing performances from the athletes and the iconic opening ceremony with Celine Dion's return to singing. Like other Olympics, the Paris Olympics obviously has people complaining and making memes, as well as some interesting things. And the Paris Olympics tennis is literally Roland Garros x2. Anyway, got to credit the event that helped generate tourism in Paris and created a circular economy.
6. The US presidential election
• Here we go, diving into the American politics bomb that was lit during COVID-19 and has been burning since. This year, ever since summer, politicians, and influencers have been campaigning for the presidential election. Of course, the voters came out more passionate and intense than usual because how could they stay calm after inflation, new abortion policy, assassination attempts on Trump, a bunch of scandals from Trump and Biden and Harris, and the polarizing belief in the nation? Stressful. Glad that this is all over in November with Trump winning the presidential election. 
• Now Trump carries the responsibility of helping the economy recover with his plan of lowering taxes and cutting federally funded jobs. However, economists said this plan causes more debt and a lowered GDP. Let's see what will happen to the economy during Trump's second term.
7. The Assassination of the United Healthcare CEO
• Recently, the United Healthcare CEO was assassinated. Instead of the usual mourning, the public seemed secretly pleased. Let's be honest, people are tired of healthcare companies being inefficient and providing a lack of coverage while charging high costs. As a result of the assassination, Luigi Mangione was suspected as the shooter. No confirmation yet. 

    Okay, 2024 is a chaotic year, to say the least. And we don't know what 2025 will bring to our lives. Regardless of what happens in the new year, please stay safe, stay positive, and don't get strayed away by the trends you cannot live up to. Wish the best to all of you reading this right now! Stay tuned for more posts from Business News and More in 2025, and keep track of our updates on Instagram @businessnewsandmore.