UK fertility rates have declined significantly since 1970s. Total fertility rate reached record low of 1.58 children per woman in 2020. Average age of mother at childbirth increased to 30.7 years in 2020
PESTLE analysis helps businesses identify macro-economic factors affecting strategic direction. Tool consists of six factors: Political, Economic, Social, Technological, Legal, Environmental. Helps identify opportunities, threats, strengths and weaknesses in business decisions
Companies must assess market affordability and economic potential. Middle class definitions differ between developed and developing countries. Companies should study national indicators and customer spending power. Economic stability and balance of payments are crucial indicators
Macro environment refers to external factors affecting businesses beyond their control. Includes economic, social, political, technological, legal, and environmental influences. Divided into economic and sociopolitical environments
GDP measures total value of goods and services produced by a country. Developing countries typically grow faster than developed ones. GDP per capita helps compare country-to-country growth