Industry – a field, which meaning in the recent years has substantially dropped

More and more experts that make various surveys as well as analyze situations in the economies globally tend to point out that the global economies differ much from those we could recognize about 20 years ago.

It is connected with the fact that, firstly, in terms of industry we may discover that it doesn’t have as substantial influence on GDP as it used to have in the past. In addition, we should also remember that the popularity of this sector transfers to countries that are at present considered to be those, which develop the fastest, such as for instance China or India. The reason why such tendency happens is connected, exceptionally, with demographic reasons, as both of above mentioned countries have more than one milliard of citizens each. This implies that there is an overcrowded labor market there and, that’s the reason why, people in order to work may accept significantly weaker salary than those in Europe, who would be able to live only in quite poor standards for similar wage.

Another influential fact is connected with increasing popularity of services. This field of economy is improvingly popular in countries, which are believed to be mature economies, such as for instance USA and countries of the Western Europe. In some of them from each 100$ generated by domestic producers, 70 per cent is made by companies in this area. It is more than twice and sometimes three times more than value of the commodities made in the field of industry. Consequently, for instance in terms of planning our career if we don’t find it crucial to work in area connected with our hobby, we should consider corporations.

In the light of the points mentioned above, owing to series of improvements in the worldwide economy, industry and exceptionally its importance has reduced 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 far less expensively in the countries analyzed above. On our continent, however, there is place for research & development, which is also crucial for the development of this area.