Many businesses talk about tough times in Australia. And, for that reason, many businesses are also expanding into traditional high-growth markets like China and India. While the impressive economic performance of Asia cannot be ignored, and while expansion into Asia can greatly benefit a business if done correctly, many Australian businesses are overlooking some interesting emerging markets developments.
Did you know that in 2011 Africa had seven of the ten fastest growing economies in the world; each with yearly growth of more than 8%? At the same time Rensburg (2012) argues about Africa:
“Democracy is becoming firmly entrenched, with all but a few of the continent’s 1 billion people expected to vote in this year’s democratic elections”.
The benefits of early market entry should not be ignored. Considering that high economic growth combined with political stability are key ingredients for attractive international markets – it is important that Australian businesses keep a close eye on market opportunities on the African continent.
You can read more in this article at Forbes.com.