Global economies are constantly evolving and new markets are always emerging. Businesses need to keep an eye out for new markets just beginning to thrive so that they don’t miss out on new sea export opportunities.
With their diverse and dynamic economies, the main focus is on the MINT and CIVETS countries, which are expected to make up some of the top 20 contributors to global GDP by 2050.
MINT stands for Mexico, Indonesia, Nigeria and Turkey. CIVETS is for Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa.
All these countries are huge markets full of potential buyers, they have natural resources and commodities to sell, as well as a young and increasingly well educated population that is eager to work and has money to spend.
In a world that is more connected than ever, UK companies need not feel limited to doing business with countries in their close proximity, and can find opportunities in more unexpected overseas markets.
While internet penetration varies between and within markets, emerging economies are the principal drivers of today’s growth in global internet take-up. Internet is allowing businesses of all sizes to enter and participate in the world marketplace.
The right investments will yield bright futures for these economies and the role they can play in the global market place.