Industry – a topic, which meaning in the last years has significantly dropped

More and more experts that make miscellaneous surveys as well as analyze situations in the economies internationally tend to discover that the international economies differ significantly from those we could find out about 20 years ago.

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Autor: MVolkmann

It is connected with the fact that, above all, regards industry we can recognize that it doesn’t have as considerable impact on GDP as it used to have in the past. What is more, we should also remember that the popularity of this sector transfers to countries that are at present known to be those, which develop the fastest, such as inter alia China or India. The reason why such tendency happens is connected, above all, with demographic reasons, as both of above shown countries have more than one milliard of citizens each. This proves that there is an overcrowded labor market there and, as a result, people in order to work may accept significantly weaker salary than those in Europe, who would be able to live only in pretty poor standards for such wage.


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Another meaningful fact is related to improving popularity of services. This topic of economy is improvingly popular in countries, which are considered to be mature economies, such as for instance USA and countries of the Western Europe. In great percentage of them from each 100$ generated by domestic producers, 70 per cent is made by corporations in this topic. It is more than twice and sometimes three times greater than value of the products made in the area of industry. Consequently, inter alia regards planning our career if we don’t find it crucial to work in area connected with our hobby, we should think about corporations.

In the light of the points mentioned above, thanks to series of improvements in the worldwide economy, industry and above all its importance has minimized significantly. This indicates that in the future it might be possible that physical work would be no longer worth its prices in Europe, as it is done far cheaper in the countries analyzed above. On our continent, nevertheless, there is place for research & development, which is also crucial for the progress of this area.