When people say that a specific industry is valued at whatever they say it’s valued at, how do they know that? Ex: “The global coffee industry is valued at $450 Billion”

Question

When people say that a specific industry is valued at whatever they say it’s valued at, how do they know that? Ex: “The global coffee industry is valued at $450 Billion”

In: 20

Answer 1

>”The global coffee industry is valued at $450 Billion”

I don’t that’s quite what people are saying. I think what you’re talking about is someone saying “globally, coffee is a $450 billion industry”. That’s an important difference. It means in the whole world, people spend $450 billion per year on coffee.

It’s an estimate not an exact figure, but when there’s a statement saying something is “a $___ industry”, it means that’s how much the people spend on [that thing] per year.