Warc Briefing: BRICs
Definition: The term BRICs refers to the economies of Brazil, Russia, India and China – four markets that saw rapid growth and development in the first decade of the 21st century.
- BRIC nations make up more than 25% of the world's land – and four in ten of its peoplei.
- Millward Brown's annual BrandZ study – ranking the world's 100 biggest brands – included representatives from each of the BRIC countries for the first time in 2010ii.
- The term BRIC was first coined in a report by Goldman Sachs, the investment bank, in 2001iii.
History and future outlook
Separately, but driven by a shared set of economic imperatives, the BRICs all took steps to engage with the wider capitalist economy following the increase in global trading which followed the fall of the Berlin Warll and the former Soviet bloc.