Posted October 16, 2018 06:33:17The world’s most valuable companies are also the most productive and the biggest winners, according to a new report.
Key findings from the report by PricewaterhouseCoopers show the world’s $2 trillion companies are generating about $1.8 trillion more in revenues each year than they spent.
PwC said the report showed that $1 trillion is the “most likely” amount of revenue the companies will generate over the next 20 years.
“Our findings underscore the importance of investing in the right technology to create a new economic ecosystem and a sustainable and sustainable society,” said PwC chief economist Daniel Krawczyk.
Pew has been publishing its most recent global productivity report every two years since 2010, and the latest year has seen companies like Apple, Facebook, Microsoft, Google, Amazon and IBM leapfrog others.
“The report provides valuable insights into the top-tier of companies that are driving global productivity,” said Tim Cook, Apple’s CEO.
“We expect to see more companies and regions moving into the future of productivity and efficiency as the global economy shifts towards the digital future.”
The report also highlights some of the challenges companies face when it comes to getting people and businesses to work more efficiently.
Puerto Rico, which is the largest US territory by population, has the highest percentage of its people working longer hours than any other US territory.
Powered by a combination of technology and automation, Puerto Rico’s workforce is aging and its public services are understaffed.
PwS found that 40 per cent of Puerto Rico workers aged 65 and older work part time, compared to 19 per cent in California, 18 per cent on the island of Florida and 19 per one in Massachusetts.
The report shows the most efficient and successful companies in terms of revenue generation, and in terms for productivity, according the PwCs top five:Apple, Facebook Inc., Microsoft Corp. and Google Inc. Pte.
are all among the top five in revenue generation per hour worked, with revenue generated per hour of work of $4.25.
Google has also risen to the top of the global rankings, with revenues per hour generated per worker of $2.60.
PWC says its report shows that companies that focus on efficiency and cost reduction can lead to higher productivity and lower cost per worker.PWC has been tracking the productivity of companies in the world for 30 years.
The report is the latest to provide a look at what drives the economy and how it has changed in the past decade.
The latest report found that the US economy grew by 4.3 per cent between 2013 and 2020, and by 3.4 per cent from 2020 to 2021.