Growing economic power of emerging economies
Growing economies show:
Trade opportunities for Western business
Production opportunities for Western business
Employment patterns
Emerging economy - large GDP growth
Less developed, more room to grow
Infrastructure poor
High poverty
Developed economy - slow GDP growth
Higher income levels
Better infrastructure
Indicators of growth:
GDP per capita = total GDP/population (judges market size/purchasing power)
Average economic output per person in a country
Higher GDP per capita = higher standard of living
Doesn’t account for pollution or inequality
Literacy rates - education levels, percentage that can read/write
Higher literacy = more skilled workforce
Offshore - business activity that takes place outside the entity’s home base
Health - life expectancy, infant mortality rates, doctors
Workforce productivity
Potential of the market
HDI - measure economic development within a country (get a score between 0 lowest and 1 highest)
Health
Education
Standard of living