These are the big news stories we’re anticipating over the next 12 months.

2022 has certainly left its mark after dealing with the impacts of the cost of living crisis, Ukraine War and a potential (but more than likely) recession. Along with many other events post-pandemic, the last year has left us wondering what exactly we can expect from 2023.

With the new year stretching out in front of us, The World Ahead, from The Economist, is here to offer perspective on a variety of trending topics, which has informed some of our top picks on what to keep an eye out for.

From fears of a collapsing NHS to revenge tourism, let’s explore what we’re forecasting for 2023.

Possible new energy streams in the UK

Renewable energy has always been a topic of discussion. However, since the war in Ukraine has caused a spike in gas prices in the UK and coal use in Europe, the conversation surrounding energy sources has been brought to the forefront. 

Why is this important information? As we all know, coal isn’t a sustainable source of energy, and Europe had plans to phase out as much coal use as it could. But the energy crunch has caused a jump in coal demand in Europe. This step backwards has essentially opened up conversations on how the British government will prioritise new energy streams in 2023.

And while yes, the winter will continue to be a very bleak period for many, we can only hope the attention brought to new energy sources is a beacon of hope. This is especially true as businesses and consumers are struggling due to high energy prices. 

With all of this in motion, as well as the government’s energy security strategy aiming to “secure, clean and affordable British energy for the long term” the government has no choice but to roll it out, starting in 2023.

Three potential outcomes for the war in Ukraine

The war in Ukraine has been one of the many events in 2022 that’s shaken things up  around the world, in the form of broad supply shortages, rising costs for fuel and much more.

We’ve watched as the Ukrainian army has fought back, but the war has taken a devastating toll. In November, an American general estimated the war had killed about 40,000 civilians and left some 100,000 Russian soldiers wounded or dead. Naturally, many of us are anxiously waiting for a resolution to the war.

Defence Editor with The Economist, Shashank Joshi, reported on the three scenarios for how the Ukraine war could play out. In short, these are his predictions:

1. Russia is victorious in reclaiming Ukraine
2. A stalemate
3. Ukraine is victorious, largely thanks to arms support from Western countries such as the newly American-supplied HIMARS weapon

How Ukraine’s fighting chance in the war will continue depends in part on Ukrainians themselves, but also on the continued support of its allies and evolving tactics by Russia. In an interview with The Economist, Ukraine’s president, Volodomyr Zelensky, said that he expects Russia to stage a big new offensive in 2023. 

A UK recession

One of the most pressing topics on our minds is the severity of a UK recession. 

There’s evidence that Britain’s recession may have already begun. It was reported that London-listed firms issued a total of 86 profit warnings, more than in any third quarter since 2008, according to consulting firm EY (Ernst & Young). Businesses are struggling in the fight against high costs and low demand already. 

Companies are taking steps to cope. There’s even talk of a concept known as  “shrinkflation”— a practice that involves making consumables such as chocolate bars smaller while leaving prices unchanged, in effort to combat costs. This is not a new concept, but certainly one that might be more prevalent as business costs continue to rise.

Workers’ wages have been a serious topic of discussion as unions in both America and Europe are fighting for increases in line with the cost of living. We’ve already seen the impacts of this through various Network Rail strikes taking place throughout Christmas, and border strikes affecting those returning to the UK. We can’t help but think this will carry on in 2023, at least until changes are made to ease the burden of the rising cost of living.

So yes, a recession is inevitable. The question now is how companies and the government will respond to try to rebuild the economy.

Revenge tourism is on the rise

A slightly lighter topic (depending on how you view it), is the surge in travel as pandemic health restrictions relax.  Earlier this year, countries such as Japan opened their borders and many other destinations have eased restrictions too. Naturally, this is allowing many to plan travel that was previously disrupted due to COVID-19.

As a result, “revenge tourism” is what we’ll be seeing more of in 2023. While the phrase may seem particularly negative, the reality is that people simply want to make the most of international travel being open again. 

Tourism arrivals have been up by 60% in 2022, and are projected to rise by a further 30% in 2023. However, it’s possible that numbers will still be fairly low compared to pre-pandemic travel, especially when you take the cost of living crisis into account. Given the tumultuous economy, we expect the numbers of those travelling to be fairly volatile.

There’s an unpredictable future for the NHS (National Health Service)

The future of the NHS has many sceptical about what’s to come. Long waiting times, low pay and staff shortages are just some of the many issues that have sadly not been resolved for many years. In terms of patients, there are roughly 6.8m people on waiting lists, which is up from 4.2m before the pandemic. Waiting times are longer than ever across A&E departments and they’re expected to remain or potentially worsen if demands from industrial action aren’t met.

We expect all this to mean further scrutiny of the NHS in 2023. This is evident through fears of a collapse. Just one example (of many) is the desperately needed backlog of building work for the Queen Elizabeth hospital in Norfolk, which would reportedly cost around £9bn. 

Another indicator of the NHS’s unpredictable future is its ongoing staffing issues. Roughly 11,000 medical posts and 46,000 nursing roles are unfilled. Whilst we don’t know what the future holds, the lack of government help or plans for further funding will inevitably worsen these figures.

What are your predictions for 2023? If you want forward-thinking information on current affairs from a trusted source such as The Economist, sign up for Student Beans and enjoy our exclusive The Economist student discount on a membership to their news articles.

This is a sponsored post in partnership with The Economist.