Many countries in Western Europe are seeing their population rise, and the UK is among them. A recent study produced by the Office for National Statistics looked at the current population of the country, and showed how the population has increased by around 10 million in the last 50 years. Here, Glowing Global reviews this study, and looks at the impact that a growing population can have on businesses in the United Kingdom.
“It’s very clear that the UK is undergoing a period of rapid population growth, as shown by the official statistics”, said Ricco Katona, director of Glowing Global. “Some people have seen this as a cause for concern, but many areas of the UK are still sparsely populated. There’s no doubt in my mind that a growing population can be great news for our economy as a whole.”
The ONS study shows that while the population has increased by 10 million (representing a near 19% increase) since 1964, half of that increase has taken place within the last 13 years. For the majority of the 50 year period, the increase was due to an increased birth rate, and increased life expectancy. In recent years, however, the increase has largely resulted from net inward migration from the European Union and beyond.
The birth rate had been in decline during the 1990s, but this too has changed as the numbers of births per year is increasing. Two reasons given for this by the ONS are increased fertility levels among UK born women, and the number of migrants in the UK of childbearing age. Scotland, however, has seen a fall in their birth rate. The increase in national net migration has largely come about due to the expansion of the EU, and so any future expansion of the EU to include countries such as Turkey could see another rise in the United Kingdom population.
“Migrants to the United Kingdom can add vibrancy and energy to our economy”, said Ricco Katona. “Many of them bring ideas from their home country, and in so doing help our businesses become more innovative. As our population grows, so there will be increasing demand for products and services across all areas. This creates exciting opportunities for forward thinking entrepreneurs.”
Businesses in the UK can also benefit from the innovative marketing campaigns from Glowing Global. They bring significant returns on investment through customer acquisition, increased revenue and growth in brand awareness.