Emerging markets describe countries of the world with relatively recent industrial and technological change and now experiencing rapid economic growth.

Goldman Sachs popularized the acronym BRIC (Brazil, Russia, India, and China) to identify countries that many economists believe to be economically powerful in terms of current and future growth. These are the well-known, high potential emerging markets, but the term extends to countries in Africa, the Gulf, other countries in South America like Mexico and Europe too.

Each emerging market is unique, of course, and businesses need to approach them individually addressing their unique economic, market, business and consumer characteristics.

Large populations generally characterize emerging markets, as is obvious with China and India. They also tend to be dominated by young populations.

Whereas some of these markets remain politically and economically unstable, many other nations have through reform successfully stabilized their economies and normalized their trade practices.

Emerging markets  (130…