United States of America
The United States is home to roughly 324 million people and offers the world’s largest consumer market with a GDP of $18 trillion. The country currently has free trade agreements with 20 countries and has the highest household spending in the world, making it a beneficial country for new businesses and investors.
Economically, the United States is the largest market for imported goods. Current figures and previous developments outline a dynamic and stable market. In 2016, there was an economic growth of 1.6 percent. The country houses a large, well-educated, and productive workforce. However, as a country the major obstacle of growth is unemployment rates. For this reason, the creation of jobs is a primary goal of the United States government.
The United States economy represents roughly 20% of total global output. The country features a highly-developed and technologically-advanced service sector, which accounts for 80% of its output. The economy is dominated by service oriented companies in area such as technology, financial services, healthcare, and retail. Additionally, the United States is the second largest manufacturer in the world. This industry represents roughly 15% of the country’s output.
The United States has one of the most advanced software and IT service industries in the world. Making it one of the most beneficial countries for IT companies looking to expand, partner, or invest.
Healthcare spending in the United States has been on the rise. It is the country with the largest healthcare expenditure, at $9,237 per person, totaling roughly $3 trillion US dollars per year. The country has a large industry of health and pharmaceutical, with several opportunities in the industry.
As one of the leading countries in production and supply of energy globally, and the largest in energy consumption, the US provides many benefits for companies abroad. The energy sector stretches to oil, natural gas, coal, renewable fuels, and clean energy sources.
Future Prospects
In view of the low level market growth barriers, there is growing competition within individual markets. In the information and communications sector, in particular, there is an energetic competition. As a result, this market is experiencing increased growth. Effective growth indicators for this are the software, the IT consulting and the service sector.
Additionally, economic potentials can be seen in the size of the US economy. The country is rich in recognizable university and research landscapes, which are closely linked to economic processes. In addition, there is a high degree of entrepreneurial freedom on a flexible labor market. The market volume in the United States is massive, the research is highly developed, there is a strong raw material supply, and the country has a highly sophisticated infrastructure.
