Why global business leaders should meet over a beer
As the world’s bankers, ministers and private sector leaders prepare to convene in Washington DC for the IMF World Bank Spring Meetings next week, delegates are being urged to hold meetings over a beer. Jessica Mason reports.
Importance
In an effort to support the US$878 billion global beer industry, the World Beer Alliance (WBA) has taken the opportunity to reiterate the importance of the brewing industry to the global economy as a major employer, investor and driver of growth. As part of its reminder, it highlighted that the sector supports one in every 100 jobs globally and contributes 0.8% of global GDP.
With IMF World Bank talks to delve into pressing economic issues such as the global growth outlook, financial stability and poverty reduction, the WBA pointed out that the global brewing industry remains “crucial” in supporting economies.
According to the WBA, at a global level, the overwhelming majority – equal to 86% – of brewers’ supplier spending is directed to businesses within the local country of production, and low and lower-middle income countries have seen a 27% boost in GDP contribution and a 24% increase in jobs generated between 2015 and 2023 thanks to the brewing industry.
In addition to the economic contributions of the beer industry, the WBA also flagged how research shows that switching populations from higher-alcohol options to lower-alcohol options, like beer, can have a positive impact on public health outcomes.
Moderating alcoholic intake
The WBA has asked for policymakers around the world to regulate alcohol according to beverage type and strength to encourage the production and consumption of lower alcohol-strength products like beer, which can reduce the use of alcohol at a population level.
Many countries are already leading the way by applying lower excise tax rates to beer than to hard liquor and offering even lower rates for lower- and no-alcohol options, effectively nudging both producers and consumers towards moderation.
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Speaking to the drinks business, WBA president and CEO Justin Kissinger said: “Conducting negotiations over a beer is a centuries-old tradition, providing an intrinsic point of connection to begin any dialogue. Discussion over a cold one (with or without alcohol) can break down cultural barriers, fosters a sense of camaraderie, and sparks memories and stories that draw people closer together. The informality also encourages conversation beyond the agenda, which builds trust that makes real progress possible.”
Last year, db outlined how meeting up with friends for a beer is important for building friendships and highlighted how beer even has geopolitical benefits and we should never overlook its social value.
Staying supportive
Kissinger explained: “Every beer is the product of an industry that supports millions of local jobs and bolsters economies in every corner of the world. And importantly, every beer is an opportunity for people to come together, find common ground, and create deeper understanding.”
He highlighted the size of the opportunity too and noted that “as policymakers come together in DC next week against an extremely challenging economic backdrop, we urge them to ensure a supportive regulatory environment for brewers to do business, so that our industry can continue delivering prosperity and supporting positive public health outcomes. Plus, with expanding lower- and no-alcohol options, leaders can toast with or without alcohol when they meet over a beer”.
Kissinger told db that, with regards to which beer to choose, “that’s up to the individual preference of delegates” and pointed out that “every country and culture has its own flavours and styles, and each one plays a role in the prosperity of the brewing community”.
He added: “It’s the sharing that makes it special.”
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