The Village Economy
At Index we love to observe and debate change. If you spot change, you spot opportunity.
We believe we are entering a period of profound change, a new economic and cultural era, driven by three tectonic shifts:
1. A return to the city. Cities are growing and suburbs are dying, as we now seek to live and work in walkable urban centers. Cities already account for 60% of global GDP. As we live in greater density, ideas and people mix more, and economic output and creativity accelerates.
2. The coming of age of millennial values. Gen Y will become 75% of the global workforce within the next ten years. Authenticity, passion and meaning are the driving motivators in this generation. The sharing economy, the gig economy, B Corps, makers and hackers, are all economic expressions of these new values.
3. The global renaissance in technology. The 3rd industrial revolution is now underway. Until 2005, technology accounted for less than 3% of global GDP. Going forward, it will transform every aspect of human activity and every industry – from transportation, housing/hospitality and food, to health, education and commerce.
As we urbanize under new values, and technology reconfigures every industry, this creates incredible opportunities in what we call, “The Village Economy.”
For an in depth look at “The Village Economy” please check out this presentation: