Global economic growth outlook, as EWI invests in global equities, particularly smaller growth companies, making its performance sensitive to the overall health of the world economy.

Interest rates and inflation, which can negatively impact the valuation of growth stocks by increasing discount rates and eroding future earnings power.

Investor sentiment and appetite for risk, particularly towards growth and small-cap stocks, influencing the trust's share price performance and its premium or discount to Net Asset Value (NAV).