Friday, 7 January 2011

Emerging Nations & Markets

Trendwatching's newsletter (http://trendwatching.com/briefing/) had some very interesting stats on emerging markets recently:
  1. Developing economies "have accounted for nearly 70 percent of world growth over the past five years". (Source: Carnegie, 2010.)
  2. The GDP of Emerging and Developing Economies accounted for 20% of world GDP in 2000, 34% in 2010, and an estimated 39% by 2015. (Source: IMF, 2010.)
  3. The global emerging middle class now stands at two billion people who spend USD 6.9 trillion a year, a figure which is expected to rise to USD 20 trillion - twice current US consumption - by 2020. (Source: McKinsey, July 2010.)
  4. Developing countries will account for two thirds of world trade in 2050. (Source: Carnegie, 2010.)
  5. The GDP of emerging markets will grow to be about 1.3 times the size of advanced economies in 2050. China will be approximately twice the size of the United States in purchasing power parity (PPP) terms. (Source: Carnegie, 2010.)
  6. India now has more rich households than poor, with 46.7 million high income households as compared to 41 million in the low income category. 62 per cent of Indian households belong to the middle class (Source: National Council of Applied Economic Research, August 2010.)
  7. 700 million people will start using the Internet in Asia in the next 5 years (Source: McKinsey; September 2010)
So what does this mean for we Kiwis, tucked away at the bottom of the world?

New ideas, new markets, new consumers. As these emerging nations explore new opportunities, it creates opportunities for us to sell knowledge, expertise and innovation. In return we will gain inspiration and fresh ways of looking at what we do.

There is nothing like collaboration for fuelling creativity, and Kiwis are good at collaboration :-)

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