Summary: By looking beyond the BRIC countries and expanding their geographic focus, many have discovered that underdeveloped markets are poised for significant growth. It is evident that opportunities within high growth markets are trending up and will continue to be an important long-term investment strategy for international businesses.
These huge economic shifts between countries are resulting in momentous changes in consumption patterns – which in turn are creating and amplifying key challenges for businesses worldwide. As a result, there is no question that even in a decade’s time, the global economic landscape will be vastly different from that of today.
This new view of the global economy will consist of:
- The aggregate purchasing power of the ‘E7’ emerging economies – Brazil, China, India, Indonesia, Mexico, Russia and Turkey – will overtake that of the G7 by 2030.
- Today’s ‘F7’ frontier markets – Bangladesh, Colombia, Morocco, Nigeria, Peru, Philippines and Vietnam – will become tomorrow’s growth markets.
- An expanding pool of highly skilled talent will fuel this emergence, with people from emerging markets increasingly leading global multinationals.
In this session, we did a deep dive into the ‘F7’ frontier markets and look at why these markets hold the greatest growth potential, what drives their economic development, and what attracts foreign-direct investment. Are these countries ready for their ascension into the global arena? If so, what are the subsequent implications on human capital/talent management in these fast-growing markets?
Presenter(s) Info: Cecilia Franchi, Director, Global Consulting, MSI; Sharon Leong, Regional Director, APAC, MSI; and Elaine Phipps, Regional Director, EMEA, MSI