Ungated Post | 13 Aug 2020
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:
Oxford Economics’ team is expert at applying advanced economic tools that provide valuable insights into today’s most pressing business, financial, and policy issues.
To find out more about our capabilities, contact:
EMEA
Paul Donnelly
020 3910 8000
Email
Americas
Diantha Redd
+1 (646) 503 3052
Email
Asia
Rhianne Clark
+65 6850 0112
Email
Related Services
Post
From opportunity to impact – Assessing the economic, societal, and cultural benefits of YouTube in Canada in 2022
This study presents an updated assessment of YouTube’s contribution to Canada's GDP and employment, and its broader impact on society and culture.
Find Out More
Post
Multilateral Development Banks for Global Public Goods
The global challenges of today are transboundary and pose existential risks for our societies and economies – including climate change, biodiversity loss, pandemics, fragility, violence and conflict.
Find Out More
Post
Generating ROI with AI: Six capabilities that drive world-class results
Generative AI has taken the business world by storm, with large language models (LLMs)—including OpenAI’s ChatGPT—splashed across the news. And executives aren’t immune to the hype. AI is becoming an ever-larger component of IT budgets, with worldwide spending on AI-centric systems expected to hit $154 billion this year—up 27% over 2022. But will enterprises spend these resources wisely? Our research says yes—if organizations take a disciplined approach.
Find Out More