China, India, and Brazil have rapidly risen as economic giants over the last few decades, with economies thumping those of the United Kingdom, Germany, Japan, and even the United States (in terms of purchasing power parity GDP). In the next several years, more countries from the developing world will emerge as financial juggernauts, possibly creating new opportunities for international investors to find new green pastures where they could park and grow their money.
Image source: cnbc.com
According to Business Insider, the following countries are set to make significant impacts on financial markets and the global economy as a whole (in no particular order) within the next few decades:
The world’s largest archipelago, Indonesia has for the most part of its history anchored its economy on commodities, such as mineral fuels and lumber. However, such sectors will eventually stagnate and the economy will start capitalizing on services and manufacturing. The economy will also benefit from better infrastructure and a streamlined bureaucracy.
The rapidly urbanizing Egypt will see significant improvements in its real estate sector. Other industries such as tourism, energy, and Information Technology will also skyrocket. The IT sector, most especially, has been stimulated by next-gen Egyptian entrepreneurs strongly supported by the government.
With a huge labor force, extensive arable lands, and one of the largest banking sectors in South Asia, Bangladesh has been listed as one of the ‘Next Eleven’ emerging markets. It will also develop into a global manufacturing hub in the coming years.
Image source: travelbrochures.org
The textile and automotive sectors in Pakistan have seen dramatic growth over the last few years and they aren’t showing any signs of slowing down. Improving domestic energy supply and growing manufacturing investment would also spur further economic progress.
Currently the biggest business process outsourcing (BPO) center in the world, the Philippines will continue to develop into a leading human resources powerhouse. It also posted one of the Asia-Pacific region’s highest GDP growth rates in 2015 and forecasts continue to be positive. Robust private consumption, a booming construction sector, and ongoing business environment reforms are also making the country more conducive for both foreign and local investments.
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