Why are businesses shifting focus to emerging markets like the MINTs (Mexico, Indonesia, Nigeria, and Turkey) and PINEs (the Philippines, Indonesia, Nigeria, and Ethiopia)?

The “next” BRICs: The MINTs (Mexico, Indonesia, Nigeria, and Turkey) and the PINEs (the Philippines, Indonesia, Nigeria, and Ethiopia)

In 2013, McKinsey & Company predicted that by 2025 almost 230 Fortune Global 500 companies would be based in cities in the emerging markets. Whilst I can’t yet comment on whether this prediction is likely to come true, it is interesting to look at how companies are shifting their focus to these developing countries.

As the economies of underdeveloped countries evolve, businesses have reason to be extremely enthusiastic. A number of these developing markets are recognized in the newly designated economic groupings of increased interest, including the PINE economies (the Philippines, Indonesia, Nigeria and Ethiopia) and the MINTs – Mexico, Indonesia, Nigeria and Turkey. Nigeria and Indonesia, included in both groupings, are predicted to be bigger than the UK and France by 2030 (when measuring GDP in PPP terms).

Read more: Why Are Businesses Shifting Focus to Emerging Markets? | Kian Moini.