TOP FIVE MYTHS ABOUT BUSINESS IN EMERGING MARKETS
Global online real estate marketplace reveals top mistruths about working in developing countries
LAHORE, AUGUST 19, 2014: The transformation of the global landscape sees a shift to emerging economies thanks to fast developing internet usage, continued economic progression and increased business activity. As a result, developing countries are providing the next big growth opportunities.
Lamudi, the leading property portal, which operates exclusively in 28 countries in Asia, Africa, Latin America and the Middle East, dispels the myths surrounding doing business in emerging markets.
Emerging markets simply refers to the BRICS countries.
The term covers so many more markets that just Brazil, Russia, India, China and South Africa. Further countries are seeing an economic transformation, including the Philippines, Indonesia, Nigeria and Ethiopia (or ‘the PINEs’). Fueled by a growing middle class and strong economic performance, as well as advances in technology, improved healthcare and education, these countries are experiencing their own business boom.
Only big businesses can succeed in emerging markets
It is easy to assume that only large, well-known companies can survive the move into emerging markets. This is not the case. Smaller businesses have the opportunity to become part of a developing economy, to provide consumers with new services on a more personal level and to work with local companies to expand alongside the country’s economic infrastructure.
Internet penetration is too low for online growth.
Internet penetration in developing countries is increasing every day, with the smartphone adoption rate growing nearly twice as fast in emerging markets as it is in more established markets (KPCB). In the Middle East, 95% of Jordanians now own a cell phone, and in a recent study, Jordan ranked second in Internet usage in the Arab world.
Emerging markets are just too risky.
There are always risks to consider when investing in a new market, however developing countries provides exciting, new investment opportunities. For example, in Emerging Trends in Real Estate Asia Pacific 2014, a joint report from the Urban Land Institute (ULI) and PwC, the Philippines’ capital of Manila was ranked in the top five cities in the region for its investment potential.
It’s all hype.
These increasingly buoyant economies are creating great potential for businesses. As underdeveloped countries become more developed economies, businesses have reason to be extremely enthusiastic. Whilst there are challenges that must be taken into account when strategizing a move into an emerging market, vast opportunities are being created – as long as strongly researched decisions are made and realistic strategies are in place.
Launched in 2013 Lamudi is a global property portal focusing exclusively on emerging markets. The fast-growing platform is currently available in 28 countries in Asia, the Middle East, Africa and Latin America, with more than 500,000 real estate listings across its global network. The leading real estate marketplace offers sellers, buyers, landlords and renters a secure and easy-to-use platform to find or list properties online. For more information, visit: http://www.lamudi.pk
ABOUT THE ASIA PACIFIC INTERNET GROUP (APIG)
The Asia Pacific Internet Group (APIG) supports some of the leading internet companies in the region. Founded by Rocket Internet in 2014, the APIG’s mission is to promote innovation and entrepreneurship throughout Asia and the Pacific, as well as to support the development of a vibrant online culture. APIG’s network currently consists of 10 companies, operating in 15 countries.