Operating in Emerging Markets: A Guide to Management and Strategy in the New International Economy

4. The Determinants of Attractiveness and Four Dimensions

Introduction

In Part I, we outlined the elements that distinguish emerging markets from developed economies, ranging from incomes to economic sophistication, demography, and infrastructure. We made clear that there is no precise or scientifically proven way to define which country is or is not an emerging market. Emerging markets are the majority of countries in the world; they are effectively all countries bar the few economies and geographic regions that have thus far concentrated most of the wealth production and consumption (North America, Europe, Japan, Australia, and New Zealand) and a few that have joined the ranks of developed economies during the last decades (South Korea, Singapore, ...