A Business Analyst’s Standpoint On The Economy Growth From Funeral Agencies
Generally, when one talks considers funeral agencies they would have lost a loved one to death, or are looking to prepare themselves for that dreadful moment. Understanding how one reacts to a situation like this can help us understand how their spending habits might be at that point of time. This will also provide suitable estimates for how much funeral directors in Perth are earning by directing funerals. If the lost soul is a close or dear relative, then the clients may look to spend more to ensure that they have a happy afterlife. Alternatively, for those clients who prefer cremations to burials, they may prefer to keep their loved one close by with them, and so may take their ashes and store them in urns or in jewellery. Either way, both these scenarios contribute positively to the country’s economy, but the question now arises of how much contribution it has on the economy.
According to global statistics, approximately 7.8 people die per year per 100 persons. This is the world’s mortality rate and is a cumulative average of all the developed, developing, and underdeveloped countries. When considering the subject of funerals, with the costs of the ceremonies, caskets and other miscellaneous items, or cremations (if this is the case), we cannot provide statistics for underdeveloped countries. However, for the other two sectors, there have been good estimates as to how the economy is affected. Developed countries have a high rate of conversion, where families generally spend a lot of money on funerals. Taking for example, the country of Australia, it might have a low mortality rate, and the funerals might be sombre proceedings, but a lot of money is spent by families to ensure that the passage of the lost soul to the afterlife is nothing but comfortable. This also ensures that funeral directors in Perth tend to earn more money than their counterparts in, say, Bangladesh, where the concepts of death are actually quite different. In developing countries, the mortality rate may be higher, but the average amount of money spent on funerals is much less, and so its impact on the country’s economy is much lower.