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21. März 2010 7 21 /03 /März /2010 18:51

Next 11 countries

The N11 countries are Bangladesh, Egypt, Indonesia, Iran, South Korea, Mexico, Nigeria, Pakistan, the Philippines, Turkey and Vietnam. Although varied both geographically and economically, these 11 countries have features in common that are believed to single out their high economic potential:

all habe large and growing populations. Between 1980 and 2008 population growth was highest in Pakistan at 110,8%, with the lowest beeing in South Korea, with 28,4% period growth:

Of the N 11 countries Indonesia had the largest population as of January 2008, with 228,9 million people, while South Korea had the smallest at 47,6 million;

In 2006 Mexico, hat the highest sum of private final consumtion expenditure totalling US $567 billion, Vietnam hat the lowest at US $36.8 billion;

All eleven countries demonstrate population growth rates above those of western developed economies, indicating greater consumer market potential over the medium term, large population represent a wide potential pool of consumers for businesses to target, while high growth rates mean that this market will expand rapidly, providing proportionally more potential consumers.

Targeting differences

While the N11 countries share certain characteristics, they are not at the same level of economic development so consumer-focused businesses must target these markets in different ways:

 

The N11 countries can be categorised in two different ways: developing economies and newly industrialised economies. These are both 'emerging economies', but the latter have greater industrial capacity and are typically beginning to export heavy manufactured or refined products, while the former are still largely reliant on primary exports, with some industrial capacity. Typically, developing economies have lower standards of living than newly industrialised economies;
Of the N11 countries, Bangladesh, Iran, Nigeria, Pakistan and Vietnam can be categorised as developing economies, while all the others except South Korea can be categorised as newly industrialised economies. South Korea is the only N11 economy that could be categorised as a developed economy, owing to its high level of industrialisation and relatively stable macroeconomic fundamentals;
For example, South Korea is a predominantly technological state, exporting manufactured goods and services expertise. By contrast, Bangladesh is an exporter of primary goods while Nigeria is an oil exporter and an exporter of lower-level manufactured goods;
In 2007, GDP per capita (purchasing price parity; figures adjusted for currency fluctuations) was the highest in South Korea, which has the most skilled and well-paid population, with the population being significantly smaller than most of those of its N11 peers. Nigeria had the lowest GDP per capita in 2007, at International $1,328, owing in part to a lower skilled but larger population, but also the significantly lower level of development in the country;


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