What is the fastest growing industry in the world?
Oil and gas production and exploration is the fastest-growing sector worldwide. This is due to increasing population, urbanization, rising living standards, and growing economies.
Great Britain, and England in particular, became one of the most prosperous economic regions in the world between the late 1600s and early 1800s as a result of being the birthplace of the industrial revolution that began in the mid-eighteenth century.
The UK is a global leader in creative industries, with investment opportunities in TV, music, publishing, design, film, games development and advertising.
The future of the global economy lies in Artificial Intelligence (AI). AI is expected to be one of the fastest-growing industries of 2023, already valued at $328.34 billion. AI has begun to revolutionize many industries, such as healthcare, finance and transportation.
BRICS is an acronym for Brazil, Russia, India, China, and South Africa, a group of five major emerging economies. These economies are recognized for their rapid economic growth and are home to nearly 40% of the world's population and over a quarter of its landmass.
Manufacturing, services and agriculture are the largest sectors of the Chinese economy – employing the majority of the population and making the largest contributions to GDP.
Economic growth is driven oftentimes by consumer spending and business investment. Tax cuts and rebates are used to return money to consumers and boost spending.
The wealthiest 10% of households held 43% of all the wealth in Great Britain in the latest period; in comparison the bottom 50% held only 9%. The richest 1% of households were those whose total wealth was more than £3.6 million (Figure 2). The least wealthy 10% of households had wealth of £15,400 or less.
Following the slight fall in 2019, the UK's net worth grew by £0.5 trillion to £10.7 trillion in 2020. This was the strongest growth since 2016, predominantly driven by an increase in the value of non-produced assets which almost entirely consist of land.
