Fast development and growing consumer base continues to spur further advancement
San Francisco, CA -- (SBWIRE) -- 01/23/2013 -- The top companies surrounding the emerging markets are riding the wave of growth of their respective regions, and are likely poised to shape the economy over the next decade, according to a study released on Tuesday.
The top 100 fast-growing companies from the developing economies are severely outpacing their rivals in the developed world when it comes to their expansion efforts. The expansion of productivity and job creation is also seeing much stronger improvement in these developing nations compared to the already-established markets, according to the Boston Consulting Group.
The companies, according to the study done by the BCG, are known as global challengers. The grouping has grown at an annual average of 16% from 2008-2011. That is nearly four times the rate of the developing nations' companies.
In 2011, the average revenue hit $26.5 billion, compared to $21 billion reached by non-financial companies listed on the S&P 500 stock index. "Global challengers are full-fledged competitors making game-changing moves," said the study.
"They are the companies that will shape the global economy over the next decade" including in industries such as aircraft manufacturing, medical devices, mobile telephony and e-commerce. Such companies benefit, and they are now in quality positions to continue to benefit in the future. The emerging markets have become the world's most economic engine, propelling the already growing number of consumers with disposable income.
Global challengers increase even whilst in competition to the Western multinationals. Those multinationals often find that they can gain from partnerships, according to the BCG report that was named “Allies and Adversaries.
"The battle is being played out foremost in other emerging countries," Olivier Scalabre of BCG told AFP. The Indian and Chinese companies are pushing hard into Africa, Latin America, and Southeast Asia, Scalabre stated. "It is their top priority because that is where 90 percent of global economic growth is located.".
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