From globalization to glocalization: now the individual keeps the wheels of economy rolling

Back in the 1980s, the concept of glocalization was born in Japan as a conscious development strategy. The term “glocalization” is mainly the merger of “globalization” and “localization”, which have opposite meanings. However, although global and local are contradictory words, they may be seen as two sides of the same coin. As a matter of fact, the modern notion of glocalization defines products or services that are locally conceived but globally provided.

When the local gets global

The widest and most populous city of Europe is also known for its multiculturalism and open mind. In fact, London is the most ethnically diversified capital in the world, with less than 50% of the population being English. In this social and cultural context, people from all over the world peacefully coexist and contribute to the continuous development of the British economy.

Every foreign tourist who visits the urban core of London for the first time will surely find a corner of the capital where he can feel at home. This aspect is due to the fact that Indians, Chinese, Spanish, French, Italian and many others have exported their local traditions globally, or better in a metropolis like London.

Diversity is on the daily agenda of the British capital and in such a highly competitive market making the difference is the solution. At this point, it is easy to notice this process of glocalization in the streets of London: the “made in UK” often alternates with restaurants, bars, bakeries and shops selling typical quality products of another country.

Nevertheless, even in an international and multi-ethnical society, the best ideas and recipes need to be customer-tailored and adapted to the peculiarities of the place.

“Think local, act global”

In most cases, an ethical fusion of local and global can be a synonym for socioeconomic growth. For years this cultural melting-pot has characterized the city of London, by being one of its main features.

The macro-localization, or the eagerness to expose a traditional product in a global scale, goes hand in hand with the micro-globalization, where a global concept is assimilated by the local environment. More specifically, in commercial and marketing terms, glocalization means respect of the local product just as it attains the global market, but also regard for the local exigences.

The key for a successful glocalization is the role played by the hosting city, which is basically the bridge that connects local initiatives to global dynamics.