Summary of article by Philip Guarino of Elementi Consulting (see link below)
You hear it in the news everyday… bad economy this, bad economy that. But are there opportunities that an otherwise good economy would not present?
That answer is yes.
Data gathered by the US Department of Commerce shows that American consumers are spending less and saving more. With exports playing a relatively small part in US GDP, this means that the domestic market that so many companies rely on isn’t yielding the same level of demand that it once did. Additionally, with the depreciating dollar, the power of the money earned domestically is also decreasing. The kicker here is that the dollar is now cheaper for foreign countries to buy. This gives foreign countries more incentive to import products from the US.
The next step is how; how can US companies take advantage of a devalued dollar in a struggling economy? Through internationalization of their products, US companies can make their products more appealing to foreign buyers, thus capitalizing on the increased buying power in the foreign market.
For the full article, visit http://www.elementiconsulting.com/insights/the-export-imperative/
Lingoport has helped companies reach international markets since 2001: http://www.lingoport.com/