The global services trade revolution
Global trade in services to increase by $2 trillion over the next five years, according to new report by Western Union and Oxford Economics.
Forecasts by Western Union and Oxford Economics project the value of international, cross-border trade in services rising from $6.1trn in 2019 to $8.0trn by 2025, a 31% increase in value.
Key report findings include:
Amongst developed economies, USA, France, and UK set to see largest increase in value of cross-border trade in services by 2025.
Adoption of new technology and digitisation of working practices likely to further fuel post-pandemic economic recovery and growth of cross-border trade in services.
Trade policy liberalisation could see an additional $890 billion increase in the value of services traded globally.
Our economic consulting and thought leadership teams are world leaders in quantitative economic analysis and original, evidence-based research, working with clients around the globe and across sectors to build models, forecast markets, run extensive surveys, and evaluate interventions using state-of-the art techniques. Lead consultants on this project were:
Managing Editor, Thought LeadershipEmail
Associate Director & Head of Global TradeEmail