Here are some interesting statistics of how markets and business has changed in just the last 10 years. The pace of change is real and it is affecting every business. How has your business responded to these transformations in the past 10 years, and what are your plans to do so in the coming decade?
- On 1 January 2000, China had a GDP of $1.2 trillion, and was the world’s 7th largest economy; on 31 December 2012 it’s GDP had grown to $8.2 trillion and it had become the 2nd largest economy, second only to the US;
- The share of global GDP that was generated by fast-growing markets (China, India, Russia, Brazil, Mexico, South Korea, Turkey and Indonesia) economies grew from 9% to 25% between 2000 and 2011. At the same time, the developed markets’ share fell from 78% of global GDP to 63%. Goldman Sachs project that the fast-growing markets’ share will climb to 46% by 2050, while the developed markets’ share will shrink to 31%;
- Foreign direct investment in the US grew from $1.3 trillion in 2000 to $2.3 trillion in 2012;
- The number of US patent applications grew from 315,000 in 2000 to 576,000 in 2012 (US Patent and Trademark Office);
- Average tenure periods for the CEOs of leading European companies fell from 9.8 years to 6.8 years in Western Europe between 2000 and 2012.
© Stuart Cross 2013. All rights reserved.