Advantages of globalizationsGlobalization has its impact on all sides of our life, and also it touches business all over theworld. I listed here the most common and important advantages that globalization , over time,has brought about for mankind.Free TradeFree trade is a policy in which a country does not levy taxes, duties, subsidies or quota on theimport/export of goods or services from other countries.This allows consumers to buy goods andservices, comparatively at a lower cost.Global ConnectivityGlobalization has promoted international connectivity. With the use of the Internet, the world hasdefinitely become a smaller place. There has been exchange of thoughts and ideas which has morallyboosted and interlinked the mindset of people all round the world.New MarketsThe opportunities for new markets has increased dramatically. Numerous companies have startedinvesting in different countries and and make it attractive to customers for their brands. These ever-expanding markets have helped countries to raise capital in terms of foreign domestic investments, thusimproving the economy of the country.Employment OpportunitiesGlobalization helps in increase of demand of products. This in turn increases rate of production.Manufacturers thus, find this profitable and helps in availability of more jobs.. This happens due to theemergence of new companies and new markets, where lots of skilled and unskilled labor is required.Immigration between countries also increases, providing better opportunities for people all round theworld. By providing employment, globalization helps in increasing the standard of living of the people,and also reduces poverty.Quality ProductsThe competition among different companies finds place at an international level. It becomes importantfor the companies to focus on quality goods and services, in order to have a strong support in themarket. The consumer is benefited in the process, and gets quality products at cheaper rates. He/shealso gets the opportunity to select his goods from a large variety available in the market. We also call uteconomies of scales and scopes production.Ease of Transportation
With the advent of globalization, there has been an immense increase in the transportation of goodsand services worldwide. Things which took weeks for conveyance, can now easily be availed within acouple of days.Continues Cash FlowThere is a steady cash flow into the developing countries, which gradually decreases the dollardifference. With the help of globalization, there is opportunity for corporate, national, and sub-nationalborrowers to have better access to external finance, with facilities such as external commercialborrowing and syndicated loans.