A Kwittken and Co/Northstar Research study found that 65% of both UK and US professionals believe that the Chinese economy will continue to grow at the current rate of 7-8% yearly.
What are your thoughts on China as a rapid growth market? Are there other markets to consider?
Thank you for your question.
You might find this article, posted in the Export Concept pages on here interesting. http://opentoexport.com/article/where-to-export/
Russia, India and Brazil are seen to be high growth markets especially in the technology and healthcare sectors.
What do other people reading this response think? Where would you see as high growth?
Thanks for your response. Our study also suggested that the BRIC markets are top of mind in terms of rapid growth.
Does everyone agree that Brazil, Russia, India and China are the rapid growth markets. Are there any other markets anyone is specifically targeting?
An excellent response James. I totally agree. The problem with the Brics is that they are all protectionist, and generally difficult to do business in (see the World Bank Ease of Doing Business and se how hey fare. They do offer immense possibilities of course – and India and China look set to be amongst the world’s top 5 economies in the not too far distant future. But because they attract so much attention a) competition there s much heavier than in other developng markets, and b) costs there are risingso they ave all but lost that competitive advantage, of course if you want to sell to Asia it makes sense to have factories, assembly plants or distribution centres close to the market. But for selling to the US, I would go for Mexico every time.
You are right to focus on the demographics. Look for big countries with young, large populations and you will find the economic giants of the future; the BRICS will be there, but so – political issues allowing, will be all the others you mention. I too would focus on those.