Role of International Market in The Growth Of A Country
With the growing economy, the trade between countries has been increased over the last few decades. This trade between different countries is known as international business. A vibrant international business benefit all parties who are the part of it whether it is a country who is supplying it or a country who are in need of buying it.
Increase Foreign Exchange The main advantage of international business lied beneath the fact that the country can enter into the international market selling its goods and services all over the world.
Improve International Relationship The international business removes the rivalry between different countries promoting solo motto of world peace. Due to international business environment countries start creating dependence on each other improving their current relationship.
Create Jobs in the Country A country who start increasing its exports need to the higher number of people to perform various jobs reducing workload. Countries like China who has a higher rate of exportation have a job growth of 2 to 4 per cent higher than countries who do no export.
Product Differentiation
If a company is capable of producing products that are better than products that are selling in the local market then it should definitely expand into the international market.
Purchasing Power Purchasing power is one of the main reason behind doing the international business is the rise in purchasing power in the targeted market. An example of this statement is Dubai. Dubai has grown up as a country in the last several decades making it a huge tourist spot as it is today.
Demand in Other Markets As you have heard “you need honey to trap the bees� just like that the rise in demand in the new markets automatically attracts companies to invest there.
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