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Cultural traits can either enhance or hinder economic development. For example, fast food chains may need to adapt their menus to local cuisine preferences. The blending of cultures can drive economic growth and facilitate globalization and trade.
The relationship between culture and economic development is drawn from an assessment of how various cultural traits enhance or hinder economic development. There are different cultures within different societies and all these different cultures have their own peculiarities which make them unique and separate from others. Sometimes these cultural traits can be perceived as beneficial from an economic point of view. Other times, other cultural traits can be seen as a hindrance to economic development.
An example of the relationship between culture and economic development can be seen in the area of food. Specific cultures have certain cuisines that are native to that area. Most of the time, people from that area may be used to that type of food and less open to other types of food due to cultural beliefs. For example, a fast food restaurant in Western countries may receive a lot of patronage from members of that society as fast foods such as hamburgers and fries are native to that culture.
The same fast food chain may not be as successful in Asian countries with a cultural preference for rice, noodles and snacks of their own. Some fast food chains make a concession to this cultural trait by including their own version of snack foods or elements of local cuisine on their menu to make their food more palatable and acceptable to that population. The same link between culture and economic development can be drawn from the preferences of the native population in music as well as literature and even the business world.
Another example of the link between culture and economic development is that, in order to address such problems in an increasingly global world, most countries showing marked autonomy in their cultural preferences can adapt the foreign concept in such a way as to make it relevant to their culture. One example is Afro-jazz, which is a fusion of traditional African music and more Western jazz music, in order to make it more marketable in both African and Western markets. This phenomenon is also seen in the way people of other cultures around the world copy some aspects of American culture such as rap music, the way of dressing and other purely American factors, and make them work for their culture.
The blending or integration of cultures helps drive economic growth. This fusion makes members of various cultures more receptive to the possibility of economic cross-cultural partnerships with those of other cultures. This element of culture and economic growth is relevant in the sense that it also helps in facilitating the rate of globalization and trade with other countries.
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