The $10 Trillion Prize - China & India

We recently wrote on the Business Blog about the OECD report which forecasts that the Chinese economy will become the world's largest economy within four years. China, along with India are the two dominant "emerging markets" and they are increasingly attracting firms and brands in the UK, USA and other mature economies that are experiencing much lower economic growth.But just how big is the opportunity for businesses that wish to expand into China and India?As the emerging middle classes in China and India begin to transform the global marketplace, the race to access these consumers is heating up. By the year 2020, the combined markets of these two countries will account for 2.5 billion consumers, whose spending is forecast to total $10 trillion. Management consultancy giant Boston Consulting Group (yes - the same people behind the Boston Matrix) claim to have uncovered the keys to businesses winning in these countries by conducting "extensive research into both markets and gaining a deep understanding of the geographies, sectors, and segments they represent".

This video below provides an overview of the BCG findings (and a promo for the accompanying book!).

There is also a free pdf executive summary of the book which contains some really useful data and insights - certainly enough for students who wish to add some depth to their notes on the scale of the opportunity in emerging markets.