HONG KONG: Brand owners looking to target emerging markets could benefit from focusing both on obvious locations like China and India and somewhat neglected areas such as Colombia and Vietnam.
Financial services provider BBVA identified ten nations it believes will do more to aid the worldwide expansion in GDP than a majority of their advanced counterparts over the coming decade.
In order of importance, this selection – which it termed the "EAGLEs" – contained China, India, Brazil, Korea, Indonesia, Russia, Mexico, Turkey, Egypt and Taiwan.
"This group will include any country which will contribute more to global GDP growth than the average of the largest developed economies during the next ten years," the company argued.
"EAGLEs could grow by about 2pp less than what we envisage and still have larger incremental demand than a country like Italy."
A rise in internal consumption is set to play a key role for each of these markets, which typically boast highly favourable demographics.
"The supply-side economics behind our forecasts seem safer than for many developed economies," BBVA continued.
"Most EAGLEs can rely on significant population growth versus a relative stabilisation or decline in the G7 countries. This bodes well for their domestic demand."
Russia was lower down the rankings than is often the case, and is "not clearly one of the countries where you're going to see that much additional demand".
Elsewhere, BBVA named another 11 nations that might augment global GDP to a more substantial degree than the smallest member of the G7, Italy.
This cohort encompassed Nigeria, Poland, South Africa, Thailand, Colombia, Vietnam, Bangladesh, Malaysia, Argentina, Peru and the Philippines.
"Each of those economies will generate short but close to $400bn (€294m; £250m) in new business," BBVA argued.
Data sourced from BBVA; additional content by Warc staff