Economic growth refers to the increase in the production of goods and services in an economy over a specific period, typically measured by the rise in real Gross Domestic Product (GDP). It reflects the ability of an economy to improve its standard of living, generate employment, and enhance overall prosperity. Economic growth is often influenced by factors such as capital accumulation, technological advancements, workforce education, and improved efficiency in resource utilization. It is a key indicator of economic health and is used by policymakers to gauge the success of economic policies. Sustained economic growth is important for reducing poverty and increasing the quality of life for citizens, though it is important to balance growth with environmental sustainability and social equity.
Incredible Growth in Scotland’s Fintech Sector The FinTech Scotland Cluster has shown impressive resilience and growth, achieving an **8% rise in employment** over the past year, with the total workforce…