Economic Development and the Demand in Global Business toward Business Markets

Abstract

Economic development is the most important for foreign consumers to adjust their trade tasks and demand in global business. Each stage of the economic development of a country has a powerful impact on prospects of foreign investment activities, commodity demand, the permanent system of distribution and logistics and a comprehensive marketing process while increasing consumption. Basically, economic development represents a double challenge. Firstly, there is a need to investigate general aspects to gain an image of the economic climate. Secondly, each state of economic growth must be investigated with the focus being on market opportunities, current economic level and growing economic potential. The state of economic development at a particular moment determines the kind and level of market potential. Economic dynamics and economic competence make it possible for commerce to prepare and respond appropriately to economic movements and market development. Economic growth is perceived and explored by the authors in terms of increased national production resulting in increased GDP per capita in domestic production but with a wide distribution of increased income, where there are conditions and aspirations towards gross economic growth, increased consumer demand and requirements which are likely to get higher with every decade as opposed to the process stretching over centuries in the past.