The Emergence of Southeast Asia: Next Eleven
Southeast Asia has been an area that has seen tremendous growth since the early 2000s. In 2005, investment bank Goldman Sachs created what was named the “Next Eleven” which included Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, the Philippines, South Korea, Turkey, and Vietnam.
The bank believed that these countries at the time had a high potential of becoming the world’s largest economies in the 21st century. In most cases, the bank was shown correctly as places in Southeast Asia like Indonesia, South Korea, and Vietnam as having seen their GDP increase rapidly since 2005. This area is home to a very young population, with a rapid increase in its industrialization and exports being off the coast. Southeast Asia is home to over 650 million inhabitants, allowing the opportunity for franchises to see a great deal of success when entering countries with GDPs on a major increase.
Four Asian Tigers and the Baby Tigers
According to Investopedia, The Four Asian Tigers are the high-growth economies of Hong Kong, Singapore, South Korea, and Taiwan. These countries are fueled by exports and rapid industrialization. They each have maintained tremendous levels of economic growth since the 1960s, and have collectively joined the ranks of the world’s wealthiest nations. These countries have a high dominance already in the franchise industry, as each offers a high ease of doing business ranking, which makes it easier to start your franchise off and start seeing profits.
The newer slogan of countries within Southeast Asia has been titled the “Baby Tigers” or “Tiger Cubs”. These are so named “because they attempt to follow the same export-driven model of technology and economic development already achieved by the rich, high-tech, industrialized, and developed countries.” These countries include Indonesia, Malaysia, the Philippines, Thailand, and Vietnam. Owning a franchise in these up-and-coming countries may prove beneficial as they follow the same development within their economy as their fellow neighbour Asian Tigers.
Start a New Business in Asia With MBE
MBE provides very good business opportunities for Asia. To learn more about the opportunity, contact us and we will provide you with more details on the opportunity.