With the 25th anniversary of the Single Market approaching, now is a timely opportunity to build upon previous studies assessing the benefits of Single Market membership. This study provides an upto-date, quantitative assessment of the impact of the Single Market on five broad economic indicators: Gross Domestic Product (GDP), household consumption, business investment, employment, and productivity in each of the Member States. It also estimates the impact it could have in future, if the level of integration was increased.
Besides the invaluable social and political benefits of peace and stability brought about by European integration, the development of the Single Market has also yielded significant economic benefits for citizens of the EU Member States. It has allowed businesses to operate more efficiently, increased competition in the market place, and given consumers greater choice of goods and services at lower prices.
However, these benefits are only possible if there are no restrictions on the four fundamental freedoms upon which the Single Market is based, i.e. the free movement of goods, services, capital and people.
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