ANALYSIS OF GLOBAL TRENDS IN THE SERVICE ECONOMY IN NOWADAYS CONDITIONS

Abstract

Analysis of global trends in the service economy in modern conditions. The article examines current trends in the service economy. The service economy has grown significantly over the past few decades, with sectors such as healthcare, education, finance, transport and communications contributing to most economic activity and employment in many countries. The growth of the service economy is driven by factors such as technological progress, globalization and changing consumer preferences, and it plays a critical role in supporting other sectors of the economy. The article analyzes the indicators of the service economy from 2000 to the present in order to identify modern development trends under the influence of digitalization of the global economy. Special attention is paid to the analysis of added value, since this important indicator characterizes the development of the industry and measures the contribution of the industry to the general economy. A higher value added indicates that the industry is creating more value and contributing more to the economy, which is a positive sign for its development. It also reflects the productivity and efficiency of the industry, as higher added value can be achieved through improved processes and technologies. Since 2000, the service sector has experienced significant growth in added value, corresponding to the deployment of Industry 4.0 and digitalization. The sector's stable share of global GDP and trade in services has played a significant role in the growth of macroeconomic indicators, although negative effects have been observed in crisis years such as the global financial crisis and the Covid-19 pandemic. In the context of global instability and the intensification of both military conflicts and natural disasters, the digital services sector can create a supportive economic effect for affected national economies, since the creation, distribution and consumption of such services are not related to the transfer of material flows, as these services are carried out remotely.