What’s Next: BRIC countries and The N11

Have you heard of the BRIC countries? How about the N11 countries? I hadn’t either so my eye was caught by an article on Euromonitor.com entitled “The Next 11 emerging countries.”

The article is about two groups of nations that have been spotted as the up and comers in the world economy. I think its important information because we as an industry need to keep our eyes open for new markets for our goods as well as new centers for production. 

The BRIC countries are

·        Brazil

·        Russia

·        India

·        China.

As Euromonitor puts it, these are countries that “… were named in 2003 as the most rapidly developing countries with the greatest economic potential.”

The N11, or the Next 11, are countries that have the potential “…to develop fast, albeit at different rates…. Those countries following the BRIC path will typically experience high rates of population growth, creating a growing pool of potential consumers, at the same time as rising disposable incomes.”

And who are the N11?

1.      Bangladesh

2.      Egypt

3.      Indonesia

4.      Iran

5.      South Korea

6.      Mexico

7.      Nigeria

8.      Pakistan

9.      Philippines

10.    Turkey

11.    Vietnam

Euromonitor goes on to state that their common characteristics are “rapidly growing populations combined with significant industrial capacity or potential… [and] a growing consumer market.” Euromonitor goes on to site long-term risks to BRIC and N11 countries as “…slowing oil production for those that are oil exporters, and mounting levels of political instability.”