Regional Specifications: BRICs, Next Eleven, Tigers
Different groups of emerging markets are grouped together depending on the perspective and criteria used to look at different countries. Goldman Sachs chief economist Jim O’Neill, for example, has established two different names for emerging markets. The first group are the so-called BRICS countries. The five letters stand for five countries: Brazil, Russia, India, China and South Africa. These states are also called by various financial experts “Engines of the World Economy” designated.
The successor to these states with growth potential is the group of Next eleven. According to Jim O’Neill, after the BRICS countries, the eleven countries Egypt, Bangladesh, Indonesia, Iran, Mexico, Nigeria, Pakistan, the Philippines, South Korea, Turkey and Vietnam have particularly high growth potential due to demographic factors such as large populations and young age structures.
The classification is regionally specific tiger states. This collective term includes East and Southeast Asian countries, namely Taiwan, South Korea, Singapore, Indonesia, Malaysia and the Philippines.
Whether BRICS, Next Eleven or tiger states, all emerging markets have high economic growth potential, a dynamic industrialization process and a rapidly increasing per capita income in common. The only difference: Some states are already more developed than others, so that economic growth may be somewhat slower in the future.