Once again, Velocity Global is happy to have guest author Mike Shanley from Konektid sharing his wisdom on emerging markets ready for growth. His last post, New Model for Entering Emerging Markets, brought great insight into the process of developing in these markets. In this post, he will discuss which markets are primed for growth but may be overlooked. We’ll let Mike take it from here.
When most companies think of emerging markets they only consider China and the other BRICS countries. However, this can lead to missed opportunities in other rapidly growing emerging markets that are well worth a look. As many businesses plan their 2016 global growth strategies, we highlighted the five emerging markets ready for growth in 2016. These five markets should be on your radar:
With more than 250 million people, Indonesia has the fourth largest population in the world. In 2016, Indonesia’s growth rate is projected to increase 6%. A majority of Indonesia’s middle class are unbanked, which presents a huge opportunity for businesses in mobile banking.
The sanctions and low oil prices that have crippled Russia’s economy have caused many businesses to simply write off the entire region. While there are challenges to doing business in the region, there are many overlooked opportunities, especially in Russia’s neighboring countries like Azerbaijan. One unique opportunity is the new skiing and winter sports market created by the recently development luxury ski resorts in Azerbaijan’s Caucasus mountains.
Kenya, like many other emerging markets, has leapfrogged technology to catch up to, and in some cases surpassed more developed countries. Perhaps their most notable success is M-Pesa, a mobile financial services platform that had more than 237 million transactions in one year, and in 2013 43% of Kenya’s GDP flowed through M-Pesa. Learn more about doing business in Africa.
Colombia is Latin America’s fourth largest economy and the only South American country with two sea coasts. The two sea coasts help to provide important transport benefits. Since the free trade agreement with the U.S. in 2012, Colombia has become the third largest market for U.S. exports in Latin America. Learn more about hiring in Colombia.
India is the largest democracy and has the second largest population in the world. India’s ninth largest city, Pune, has a larger population than Chicago. By 2017, India’s growth rate is anticipated to exceed that of China. This is due to several factors, including new leadership in India’s Central Bank, a popular new government focused on economic reform, increased infrastructure development, and reduced bureaucratic red tape.
Konektid has a team on the ground in all of these countries. We can help our clients identify and access specific opportunities in each market. For more information, please visit us at Konektid.com or email email@example.com.
Thank you for reading!
Mike Shanley, Founder & CEO
Velocity Global also offers it’s Foreign Subsidiary as a Service (FSaaS) solution in all these emerging markets ready for growth; let us know if you need help hiring employees in these countries. We can have your employees up and running in days versus months, manage your risk in country, and have a no long-term commitment policy.