3 Emerging Economies Where you can Expand your Business
According to experts, global economic growth has peaked during the last 12 months against a backdrop of dwindling investment, tightening economic policy and rising geopolitical conflict.
These factors restricted the world’s total economic output to 3% during 2017, and this level is likely to be maintained throughout the coming year.
Despite this, there are some emerging economies that continue to showcase impressive levels of growth, and it’s important to keep these in mind when planning to expand your business both internationally and strategically. Here are three of the best options in 2018:
We start with India, which has established itself as the leading emerging economy over the course of the last five years. During this time, India’s year-on-year, economic growth rate has surpassed China’s, while a largely English-speaking population of one billion has helped it to become a prominent outsourcing location.
On a similar note, India is also home to a large number of tech-savvy outsourcing firms, helping it to become a key player in the technology and manufacturing sectors. More specifically, we’re seeing a growing number of smartphone brands manufacture their handsets overseas, while India has also become the home of the popular feature phone market.
If there is one country that remains at the mercy of largely untrue and outdated stereotypes, it’s Russia. Not only are many of these perceptions false, but they also fail to recognise Russia’s incredible transition from communism to boundless of diverse world of capitalism.
This shift has had an incredible impact on the Russian economy, while the recent boom in commodities has helped the nation’s stock market to become one of the best performing in the world in recent times.
Russia has also taken recent steps to strengthen its position as the dominant player in the global oil market, by leading the negotiations with Opec members to extend production cuts in a bid to boost prices.
Brazil’s recent course of economic growth began in the wake of the great recession, when the nation evolved to become a significant growth driver in Latin America. It also remains the largest economy in South America, with the country’s profile and standing among overseas investors having been boosted by hosting the 2014 FIFA World Cup and the 2016 Olympics.
Hosting these events required significant investment, of course, and this may be partially responsible for a recent economic decline and disproportionate hike in inflation.
While this is a nation to watch in the near-term, however, Brazil remains a prominent emerging economy that can present numerous opportunities for your business in 2018.