Essay on GB Economy

Analysis of the United Kingdom Economy

Essay on GB Economy

A pestle analysis (it can be also shortened as “pest”, as in “pest analysis”) shows the situation in the country if it is good and favorable or not that good. The economic situation, as well as social and political or technological and financial can be shown and approached. Today we will analyze such a territory of the world as the United Kingdom.

The United Kingdom is a piece of a territory, that is located in the north-west of Europe. It includes four parts:

  • England
  • Scotland
  • Wales
  • Northern Ireland

Now let’s talk about the basic principles of the economy in this part of the world. Let’s review its pros and cons.

Economic Aspects and Factors of the United Kingdom

It has a really strong and huge position in direction of economics, in comparison with other countries. Why? Because The UK has a pretty high GDP and manifold economy. Well, but it would be a little strange if the country did not have at least a couple problems and issues. So, the United Kingdom is not an exception. We propose to take a look at each of economic factors as deeply as possible. Pros and cons are here!

Positive Factors

The first factors we are going to talk about are the positive ones. Those, which make the country one of the most developed countries in Europe and the world. Let’s start! Let’s review and discover the main positive aspects:

  • GDP level. That stands for Gross Domestic Product. The United Kingdom GDP level takes the fifth place in the world (descending) and the second place in Europe, ceding only Germany
  • Large population. A generous number of people allows all the markets and factories (even the smallest grocery stores) becoming profitable
  • Large public and private sectors. The UK is developed, has a diversified economy, so it lets them have large public as well as private sectors
  • Markets for free
  • Foreign investments. The UK enjoys large foreign investments, that increase and bring it to success.

Negative Effects

The second ones, that we are going to talk about, are negative effects, as you got. Here are some of them:

  • Slow recovering. The UK recovers from the economic recession in 2008 and 2009 very slowly
  • Spending much money. They are spending a lot of money to provide public services for free and financial aid, for every person, even for migrants too

In general, the United Kingdom is developed and takes its place of one of the most developed places on the Earth.

References

  1. “Economy of the United Kingdom”. En.Wikipedia.Org, https://en.wikipedia.org/wiki/Economy_of_the_United_Kingdom. Accessed 19 Jun. 2018
  2. “An Example PEST Analysis of The UK”. Pestleanalysis.Com, http://pestleanalysis.com/pest-analysis-of-the-uk/. Accessed 19 Jun. 2018
  3. “United Kingdom. Economy”. Britannica.Com, https://www.britannica.com/place/United-Kingdom/Economy. Accessed 19 Jun. 2018

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