Global South.
Might be seen as "buzzword", a fuzzy and despised term, one of those things that are trendy for a while and then disappear.
In fact, there is no universally accepted definition of "Global South", but it helps to identify a broad region that reflects geopolitical shifts and gathers Latin America, Africa, Asia, and Oceania.
But why is this area important?
1) Demographics
Approximately 6.5 billion people live in those areas, representing from 85% to 88% of the world's population.
2) Economy
The aggregate GDP of the Global South was in 2023 $94,243.6 billion, with a CAGR from 2020 to 2023 of 5.5% and a world share of GDP of 70.1% in the same time-span compared to the Global North: $29 trillion.
3) Geopolitics
The Global South features diverse political systems, from stable democracies to regions with political instability.
4) Environmental and climate change issues
The Global South faces the highest climate risks, including rising sea levels and extreme weather, especially in Bangladesh, the Philippines, and Pacific islands.
5) Social and developmental issues
Poverty remains widespread, particularly in sub-Saharan Africa and South Asia, even with initiatives like the SDGs aimed at improve the conditions.