Globalisation – The process which has created a more connected/linked world, with increases in the movement of goods (trade) and people (migration and tourism) worldwide

To remember the meaning of the term Globalisation, use the following mnemonic:

The globe has eyes stationed (globalisation) all around it. It allows everyone to be linked up.

Globalisation has been happening for hundreds of years, but the pace has really quickened over the past half-century.

The results include greatly increased international trade, the emergence of many companies that operate in more than one country, greater dependence on the global economy, and freer movement of capital, goods and services.

Globalisation is claimed to be creating more wealth in developing countries. However, the gap between the world's poorest and richest countries continues to widen.

Reasons for globalization include better transport systems, availability of cheaper labour in developing countries, vast improvements in communications systems and the removal of many of the barriers to free trade.