Country Fact Sheet: United Kingdom
The United Kingdom is located in Western Europe on the islands including Great Britain and the Northern part of Ireland, bordering the North Atlantic Ocean just Northwest of France. The UK is slightly smaller than Oregon and covers an area of 243,610 sq. kilometers. The total population is 63.4 million and is growing at a rate of 0.2% with 90% living in urban areas. The capital of London has a population of 7.56 million with other main cities including Birmingham, Leeds, Glasgow, and Sheffield. The people are governed by a constitutional monarchy and are predominantly Christian. The primary language used is English, with other languages including Welsh, Scottish Gaelic, and Irish Gaelic. The UK joined the EU in 1973; however they are not in the Euro zone yet and still use the British Pound as currency. The UK was also a founding member of NATO.
The UK has one of the strongest economies in Western Europe and in the world. It is one of the world’s leading trading power and a world financial center. The UK’s main trade partners are mostly in the EU including Germany, France, Ireland, Netherlands, Belgium, Spain, and Italy, but also include the US, China, and Norway Its primary imports are manufactured goods, machinery, fuels, and foodstuffs. Exports include manufactured goods, fuels, chemicals, food, beverages, and tobacco. The UK’s GDP (Purchasing Power Parity) is $2.375 trillion and is growing at a real rate of 0.2% with an inflation rate of 2.8%. The UK ranked 7th out of 185 countries in the World Bank Group’s Ease of Doing Business Ranking.
|Demographic Data||Economic Data||Cultural & Other Data|
|Area (sq. km.)||243,610||GDP (PPP, $tn)||2.375||Capital||London|
|Population (million)||63.4||GDP Real Growth (%)||0.2||Other Large Cities||Manchester|
|Population Growth (%)||0.55||PerCap GDP ($)||37,500||Primary Language||English|
|Population Under 15yrs (%)||173||Prime Lending Rate (%)||4.22||Urbanization||80|
|Population below poverty line (%)||14||Inflation Rate%||2.8||Urban Growth||-0.26|
|Agricultural Workers (% of population)||1.4||Unemployment%||8||Literacy (population %)||99|
|Industrial Workers (% of population)||18.2||Foreign Direct Investment ($tn)||1.32||Education spending % of GDP||5.6|
|Service Workers (% of population)||80.4||Debt-External ($bn)||10.09||CPI Score (1-100)*||74|
|Labor Force (mil)||32.07||Exports ($bn)||474.6||Corporate Income Tax %||21|
|Imports ($bn)||642.6||Ease of Doing Business Ranking **||7|
Click the links below for articles with more information on Franchising in the UK
* CPI Score is published by Transparency International and relates to the perceptions of the degree of corruption as seen by business people and country analysts and ranges between 100 (highly clean) and 0 (highly corrupt).
**Ease of Doing Business Ranking is determined by the World Bank Group and is ranked out of a possible 185 countries. www.doingbusiness.org
Most recent statistics have been taken from the CIA World Factbook unless noted otherwise.
International Franchising Opportunities
After you have finished researching the international markets, learning international expansion strategies and best practices, and understanding the basics of international franchising law, IFA provides numerous opportunities for franchising internationally.