Future Forward NO-ONE CAN PREDICT WHAT’S TO COME WITH CERTAINTY — THE PAST TWO YEARS HAVE REMINDED US OF THAT. YET THERE IS MUCH WE CAN DO TO RESPOND TO THE CHALLENGES AND OPPORTUNITIES THAT LIE AHEAD. BY JUSTIN GREINER, CEO JBWERE, EXECUTIVE NAB PRIVATE WEALTH
Understanding what’s to come
Recent events have reminded all of us how the unexpected can threaten even the 6
THE LUXURY REPORT | SUMMER 2021/22
best-laid plans — and the confidence that underpins them. It’s why those who can adapt quickly and effectively to uncertainty are critical to our future success. Of course, we are never completely blind. Thanks to the analysis and insights of research teams like those at NAB Private Wealth, we can identify the more salient trends and prepare for them. In fact, there are several megatrends apparent right now that are likely to reshape Australia and the rest of the world, and it is by understanding and responding to these that our future thinkers can go head-to-head with the best and succeed.
Preparing for a bigger Australia
One of those megatrends is the size and composition of our population. Over the next decade or two, there is likely to be a surge in international migration globally, together with rapid urbanisation and an ageing population. This means our country and its needs will be considerably different to what they are today. The state of our infrastructure will be critical as we prepare for a bigger, older population. And we can’t take our resources
Australia is going to see the greatest transfer of wealth in its history.
ILLUSTRATION: COL MCELWAINE
WHAT KIND OF Australia do we want? And, perhaps more importantly, do we have what it takes to get there? Our country has done better than most over the past two years, but how are we placed in the mediumto long-term? Do we have what’s required to respond to a rapidly evolving world? It’s our future thinkers who will be vital here. We need our community leaders and entrepreneurs to provide direction and support as they embrace the challenges ahead, as well as the opportunities. At NAB Private Wealth, our clients are incredibly diverse, spanning all regions and all industries. They are professional services experts, healthcare specialists, business owners, executives of leading private and public companies and some of the country’s most respected and successful individuals and families. These people are instrumental to Australia’s future. We need their ideas, drive and resources to build a more prosperous, more thoughtful nation. A better Australia.
