Rise of emerging markets
Chile, Egypt, Senegal, Malaysia and Vietnam have been named by trade credit insurer, Atradius (www.atradius.co.uk) as the most promising emerging markets for 2021. In its Promising Markets 2021 economic report, Atradius forecasts that despite the backdrop of a global recession which has seen economies around the world rocked by the coronavirus pandemic, these five markets are expected to recover well with strong prospects for investors and exporters. The markets all benefit from relatively stable political conditions with many having a growing middle class, generating opportunities in consumer-oriented sectors.
“The unexpected and devastating impact of Covid-19 brought the global economy to a standstill and the situation is still precarious. However, the scene has been set for renewed hope in 2021,” comments Damien Dawson, Regional Manager for Atradius UK’s Southern Region.
“As economies slowly reopen, pent-up demand and a recovery in exports will gradually stimulate growth in 2021 and bring with it new opportunities for trade. The promising emerging markets identified by Atradius are positioned to emerge with good growth prospects across several sectors with favourable business conditions.”
“The pandemic has disrupted global trade and changed the horizons for exporting businesses,” continues Dawson. “Success will depend on a business’ ability to innovate and seize new opportunities while being armed with the right tools and insights. Comprehensive risk mitigation, protection from non-payment and real-time information combined with an agile response is essential.”