2 Mar 2009
Follow the Money!
2009 is now well underway and the general feeling of gloom and doom is everywhere. This isn't the time to procrastinate or bury your head in the sand. With the Australian economy grinding to a halt, its time to look to the growth markets of the world to maintain and grow your business this year, and you can't afford to put this off any longer.
One of the greatest influences and opportunities for business and investment going forward will be the emergence of the ‘BRIC’ economies - Brazil, Russia, India and China. Just as Britain grew to dominance during the industrial revolution of the 1800s and the US during the 1900s, this century will, and is already seeing, the emergence of the BRIC countries as dominant economic players. Most economists agree that during the next 40 years or sooner, China and India will overtake America to become the two largest global economies, with Russia and Brazil not far behind. Its going to become increasingly important for all businesses and investors to properly understand the new BRIC economies, so that deciding to invest or do business (or not) in these markets is a considered, rational progression – not a blind leap of faith!
Consider this:
· China has committed to spending A$900 billion on housing, infrastructure, transport, industry (particularly the high-tech services sector) and the environment in 2009.
· India expects there to be 136 million mobile phone users (an increase of 24% from 2008) and a total of 60 million internet users by the end of 2009
· Brazil is spending over A$500bn to support and grow their economy in 2009, including investments in infrastructure, services (notably IT) and to support domestic consumption.
Remember that, whilst these countries are building the hardware (e.g. roads, railways, airports, buildings, waterways, bridges, tunnels etc.) to support their rapidly industrialising economies, what they also need is the software (i.e. the professional services, training, education, technology, creativity, design and leadership) that makes the difference between "third world" and "world class". Its in these areas that Australian businesses of all sizes can derive the most opportunities - yet, whilst the services sector represents 82% of all firms in Australia, it accounts for only 3% of our exports!
The problem is: How do you get started? What should you do first? Where will you go? What will you need? Why would you choose one market over another? What skills and knowledge will you need to develop to be successful?
David Thomas of Think Global Consulting is one of the world’s leading experts on the BRIC countries, having travelled to all of them in the last 3 years as the leader of business and investment delegations.
He speaks with authority about global hotspots, business trends and cross border opportunities, trains business leaders on cross cultural exchange and market entry strategies, and facilitates powerful introductions between companies in developed and emerging countries.
To book David to speak at your next Conference refer to our contacts page.
David Thomas
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