If the progression of technology development sustains for the next couple of years as it has done in the past couple of years then the working environment will change drastically over time as COVID-19 started the trend of working from home and then later on changed to visiting the office for three days a week. Then the next leg might be a fixed removal of a day resulting in a 4-day work week, but the most important question to ask would be what does an employee do with that extra day in hand?
In the recent past, some studies were conducted to see the impact of 4-day work week. The results showed a positive effect overall especially in hiring and staff turnover. But it would have been more interesting to study what the employee does with that extra day in hand. Almost 60% of global GDP is driven by consumer spending it will have a meaningful impact.
In 2022 world consumer spending was at $55,900 Bn with 5.21 adult population ( Age 15-65). This results in an average of $30 per day per adult spending. Given an extra day with 8 hours of no work, there will certainly be an increase in the volume of transactions. This could be spent towards purchasing goods or services eventually raising revenues for the providers of the same.
Though it is a trend that will develop over some time various elements have already started to take shape. And in a dynamic world where decision-making in businesses and governments is more concentrated. A change of this magnitude can occur sooner than later.
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