As we reflect on the events that have occurred in 2023, one word to describe the global economy is “resilient.” Despite extraordinary monetary constraints, volatile gas and energy prices, disruption to the food supply and ongoing geopolitical conflict, economic activity has slowed but surprisingly, it hasn’t stalled.
One reason for this resiliency is the surge of growth at the start of the year across several emerging markets. And though growth in these economies decelerated during the second half of the year, the full-year emerging markets growth forecast is expected to stand at 4.3%.
Due to the political and economic instability that remains prevalent throughout the globe, organizations are in search of alternate markets to set up manufacturing facilities and services centers.
In this report, we review more than a dozen emerging markets across Latin America, Europe, the Middle East, Africa and Asia. Through our research we have identified the benefits that each of these markets presents, as well as the risks. We also provide details on each country’s population, resources, infrastructure, cost for talent and government incentives.