The economy in Belgium is largely based on the service and trade sectors and falls in the mostly free category as of 2021. The free market economy in Belgium gives greater power to the private sector and helps in balancing the market prices with average consumer livelihood cost. The primary industry in the metal, textiles, chemical and food. A large part of the economy is every flow due to the dependency of imports for raw material and exports for revenue. The market for Belgium has been ever-fluctuating and will continue to be so if the adoption of fiscal policies and economic diversification are not timely undertaken.
The stable growth in Belgium is driven by a high percentage of household consumers. The geographical positioning of the country, between Germany, France and the UK also supports this. But the dependency on imports and exports has damaged Belgium’s economy greatly during the pandemic. The public debt held 117.7% of the GDP and the figure was predicted to go but in the oncoming years by IMF. The GDP recorded a decline of 8.3% in October 2020. The enterprise-based economic structure hit the general household harder than the neighbouring countries. Government deficit, inflation, unemployment and multiple other aspects were negatively impacted.
To counteract the effects, the government announced large fiscal benefits. Also, with the consumer demand rising post-2020. The trade is expected to flow better but cannot match the previous declines and thus recovery growth will be slow. As for the service sector, there has been a ray of hope in the form of the ICT sector which is quite dynamic in Belgium and has a 10% contribution to the GDP. During the pandemic, the demand rose to have IT integration across multiple other sectors. As subsectors, digital marketing, e-health, cybersecurity, big data, mobile, e-government and cloud computing have taken up the highest importance in the list of ICT priorities. The number of jobs alone rose by 4.2% in 2020. The challenges in times of distancing provided by the Covid preventive measures to much extent could be solved by the integration of a virtual system. The health and government sector has especially benefited from the adoption of cloud infrastructure. As a chain reaction, this adoption has given rise to demand in cybersecurity and so the chain goes.
Belgium is an almost free economy with trade and service sectors at its centre to boost the economy. The pandemic has opened a requirement to bring in reforms like the integration of the IT sector across other sectors to create a fail-safe, self-sufficient and resilient economy for the future.
VPS Payment Method
There are numerous VPS providers in the market to choose from. Each one of them with different packages, configurations, and specifications. It is up to you as the client to weigh the different offers by the providers based on your requirements and budget.
While some users may prefer the Windows OS-based VPS, others may prefer the Linux-based VPS. When a client has decided on the VPS option or package to lease, the next step is to make the payment.
A strong VPS hosting software is expected to scale and meet your hosting needs as your website grows. It is also required to be very flexible with a great recovery strategy. If the worst happens, it will be able to restore your website within a short period of time. It also has excellent add-on functionality that caters to a wide variety of requirements.
Like any other online business, VPS providers have made transactions and payment easy for users with every provider making provision for 3-4 payment options for their clients to choose the most convenient option as not all the listed options may be available for all countries and locations.
Here are some of the existing payment options made available by different VPS providers.
Credit Card (e.g. Mastercard, Visa, American Express)
Note that there are many more out there but with these payment options listed, you can be sure that you would find something that would suit your needs.