Industry – a area, which role in the recent years has substantially dropped

More and more specialists that carry out various surveys as well as analyze situations in the economies internationally tend to discover that the international economies differ substantially from those we could find out about 20 years ago.

It is connected with the fact that, first and foremost, in terms of industry we might observe that it doesn’t have as substantial impact on GDP as it used to have in the past.

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What is more, we ought to also be aware of the fact that the popularity of this sector transfers to countries that are currently believed to be those, which develop the rapidest, such as for example China or India. The reason why similar tendency happens is connected, firstly, with demographic reasons, as both of these countries have more than one milliard of citizens each. This proves that there is an overcrowded labor market there and, therefore, people in order to work might accept far weaker salary than those in Europe, who would be able to live only in pretty poor standards for similar wage.

Another crucial fact is connected with rising popularity of services. This field of economy is increasingly popular in countries, which are considered to be mature economies, such as for example USA and countries of the Western Europe. In majority of them from each 100$ generated by domestic producers, 70 per cent is made by enterprises in this topic. It is more than twice and sometimes three times greater than value of the products made in the field of industry. As a result, for instance regards planning our career if we don’t find it crucial to work in field related with our hobby, we are recommended to think about corporations.

In the light of the points mentioned above, thanks to series of improvements in the global economy, industry and exceptionally its importance has minimized significantly. This implies that in the future it can be possible that physical work would be no longer worth its prices in Europe, as it is done much cheaper in the countries mentioned above. On our continent, however, there is place for research & development, which is also crucial for the growth of this sector.