Many of the most noticeable impacts of globalization on place relate to economics.
Many of the most noticeable impacts of globalization on place relate to economics. The economies of many places have changed dramatically as a result of globalization, not only affecting the standard of living, but also the very nature of the economy. The economic shifts brought about by globalization impact where and how people work and live. Globalization enables businesses to operate in areas where labor is less expensive; many corporations based in North America and Europe have outsourced entire operations. American companies may outsource their call centers or information technology services to companies in India. As a result of globalization, textile exports have become a major economic driver in Bangladesh, one of the poorest nations of the world.