Media information

Global Economy Prize awarded

The Global Economy Prize of the Kiel Institute for the World Economy and its partners, the City of Kiel and the Schleswig-Holstein Chamber of Commerce, was presented for the thirteenth time today in Kiel’s City Hall. Recognized as pioneers of a cosmopolitan, economically liberal, and public-spirited society, this year’s laureates are:

  • Prof. Horst Köhler, German politician and economist. Former Federal President of Germany and Managing Director of the International Monetary Fund. Category: Politics

  • Brunello Cucinelli, Italian fashion designer. Founder, Chairman, and CEO of Brunello Cucinelli S.p.A. Category: Business
  • Arundhati Bhattacharya, Indian banker. Chairperson of the State Bank of India. Category: Business
  • Prof. Assar Lindbeck, Ph.D., Swedish economist. Professor Emeritus of International Economics at the University of Stockholm. Category: Economics.


(Prof. Dr. Horst Köhler, Brunello Cucinelli, Prof. Assar Lindbeck, Ph.D. and IfW-Präsident Dennis Snower | Arundhati Bhattacharya not pictured)

“Putting people and their social well-being at the heart of economic activity and enhancing international cooperation is one of the central concerns behind the Global Economy Prize,” said Dennis Snower, President of the Kiel Institute for the World Economy (IfW), speaking at the awards ceremony. He applauded the prize winners for bringing society a step closer toward this goal. “Each of them has in their own unique way made the socially vulnerable and disadvantaged the focus of their work—pointing us in the direction we must go in order to create a world order based on fair play.”

“Generating wealth while at the same time creating social justice, protecting the climate, and avoiding economic crises—that is the huge challenge we face. We need to create a system where the focus is on fair behavior and people work together wherever they face common challenges, such as climate change,” Snower said. “Each of today’s prize winners has shown in their own way what can be done to bring about a more just and collaborative world.”

The Global Economy Prize is an initiative of the Kiel Institute for the World Economy and is awarded in close conjunction with the City of Kiel and the Schleswig-Holstein Chamber of Commerce. The aim of the prize is to inspire creative solutions to the global economic challenges of our time. It is awarded annually to influential personalities in politics, business, and science, who have made an outstanding contribution to establishing a just and protective society based on individual initiative and responsibility. The award has no prize money.

Dr. Ulf Kämpfer, Mayor of Kiel:

“The Global Economy Prize addresses issues of global importance and serves as an important platform for intellectual dialogue between the fields of economics, politics, business, and society. Year after year, the awarding of the Global Economy Prize is undoubtedly the sociopolitical highlight of Kiel Week. This year’s winners continue the impressive series of high-profile personalities who have been honored here in Kiel in recent years.”

Klaus-Hinrich Vater, Vice-President of the Schleswig-Holstein Chamber of Commerce and Industry:

“The Global Economy Prize emphasizes the importance of free markets for international trade and global prosperity. Impeding global free trade would have dramatic and in many cases probably existential consequences for our export-oriented small and medium-sized businesses because they generate a large part of their profits elsewhere in the world and not in the home market. We need to counteract any such development wherever possible.”
The speeches and laudations delivered by Dennis Snower as well as more information about the laureates can be found at:

Photos of this year´s awards ceremony on Flickr @Kielinstitute