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April 14, 2014

The New African Order


View Sarah Boumphrey's profile on LinkedIn

The Nigerian statistics office, recognised by the IMF, has recalculated Nigerian GDP and the economy is now 89% larger than it was previously stated. This makes it the 22nd largest economy in the world (measured in current market prices in US$) – compared to 37th pre-revision, and the largest economy in Africa – now 49% bigger than South Africa.

Total GDP in Nigeria Pre- and Post-revision: 2010-2013

Source: National Bureau of Statistics

Note: Data refer to GDP in current market prices. 2013 data are estimates.

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April 9, 2014

Euromonitor to Speak at WTM Africa


Date: 2 and 3 May 2014

Location: CapeTown International Convention Centre

Presentation: Paz Casal, Travel and Tourism Analyst, will offer a presentation on the Consumer Trends and Forces Driving Change in the Travel Industry globally and in Sub-Saharian Africa.

The global economy is on the mend and arrivals grew again in 2013 at a rate of 4%, reaching record numbers of over one billion world-wide. The Middle East and Africa demonstrated the highest growth despite continued instability and Asia, especially China, remains a key driver of demand. As smartphones become an indispensable part of modern-day life, travel companies offer consumers an increasing number of services for purchasing, researching and experiencing travel. Online and mobile developments enable consumers to bypass traditional distribution, with the sharing economy going from strength to strength. 

Sub-Saharan Africa is one of the fastest growing tourism regions in the world with a strong reliance on intra-regional travel. Domestic tourism has been ear-marked as a priority in South Africa, whilst Mandela pilgrimage tourism is expected to boost international visitors. With international hotel chains buying up regional players, Sub-Saharan Africa holds the last piece of the puzzle in the search for long-term sustainable growth.

Conference: Set to be the leading B2B exhibition for the inbound and outbound African travel markets, WTM Africa is a global event tailored to the African market.  With a clear vision to deliver the right business contacts, give the African travel industry a voice, offer all an even playing field and to invest in the future of African tourism, WTM Africa will be the new meeting place for Africa’s travel industry.

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March 3, 2014

Top 5 Fastest Growing Key Emerging Economies in 2014

Economic and Consumer Insight with Sarah Boumphrey Banner

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Looking at the world’s 25 largest emerging markets, ranked by GDP in PPP terms, the five fastest-growing include some usual suspects (China and India) but also some more surprising entrants – particularly Nigeria and Bangladesh. 2014 should see relatively strong growth for these five economies – albeit in some cases weaker growth than in recent years – but as ever, all face important challenges.

Real GDP Growth in Top 5 Fastest Growing Key Emerging Economies in 2014

Graph 1

Source: Euromonitor International from national statistics/Eurostat/OECD/UN/IMF

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January 26, 2014

Datagraphic: Top 100 City Destinations Ranking

Top 100 City Destinations Illustrated Ranking Travel Tourism

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Cities are an important driver for travel and tourism demand, with the top 100 cities together growing by 7% growth in international arrivals, compared to 4% in overall arrivals in 2012. A strong Chinese outbound travel market benefited Asian cities. London experienced growth of 2% in the year it held the Olympics Games. However, this performance was not enough to prevent Bangkok overtaking London to become the third most visited city in the world, thanks to the Chinese outbound boost.

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January 14, 2014

Special Report: Global Dependence on Nuclear Energy Drops

CAMISpecial Report from Euromonitor International's Industrial Team

The nuclear energy industry continues to suffer the consequences of Japan’s nuclear disaster at the Fukushima plant in 2011 following which many economies revisited their nuclear energy plans, scaling back on their nuclear dependence. Although nuclear energy consumption dropped in 2012 over the previous year and its share in total global energy consumption fell to its lowest level since 1984, it continues to be a reliable and clean-energy source of electricity for many countries.  

Key Points

  • The global nuclear industry continues to suffer from Japan’s Fukushima nuclear disaster in 2011 where the earthquake and tsunami that hit Japan led to an explosion and radiation crisis raising concerns associated with nuclear energy. In 2012, global nuclear output accounted for 4.5% of global energy consumption, the smallest share since 1984;

  • In 2012, global nuclear consumption fell by 6.9% annually to 560 million tonnes of oil equivalent. This was the second consecutive year of decline and the largest drop on record according to the BP Statistical Review of World Energy 2013 largely due to an almost 90.0% drop in Japan’s nuclear output;

  • Following the crisis in Japan, nuclear energy plans for many countries came under review. Globally, there were 434 nuclear reactors in operation in 2012 down from 442 in 2010. Western Europe saw 11 nuclear reactors (eight reactors in Germany and three reactors in the UK) shut down over the 2010-2012 period – the highest amongst all regions;

  • Nuclear energy, however, continues to be an important source of electricity for many countries globally. About 13.0% of global electricity consumption in 2011 (latest available data) came from nuclear reactors around the world according to the World Nuclear Association (WNA);

  • Despite environmental and political concerns revolving around nuclear energy, it remains amongst the cleanest energy sources producing only 73.0 million tonnes of CO2 emissions from generating 2,518TWh of electricity, compared to 2,236 million tonnes and 1,256 million tonnes of CO2 emissions from coal and natural gas respectively according to the WNA.

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January 12, 2014

Datagraphic: Ageing and Urbanisation Trends March On but Global Demographic Divide Persists

Ageing Trends Around the World

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In 2014, the global population is forecast to reach 7.2 billion with an average life expectancy of 71.3 years at birth, 3 years higher than 2004. The urban transformation continues with 53.1% of the world population expected to be urban dwellers in 2014. A global demographic divide persists with developed economies ahead in ageing and urbanisation trends compared to emerging markets. Population trends are vital to understand shifts in consumer and labour markets of the future as well as demand.

Have a question or a thought to add? Leave us a comment below.

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January 10, 2014

Does Urban Export Imply City Development?

UgneSaltenyteAnalyst Insight by Ugne Saltenyte - City Analyst

Urban exports can be seen both as a factor in a city’s economic growth and an indicator of its stage of urban development. Generally, expanding export activities contribute to the economic advancement of urban economies. Different profiles of exported goods and services in developing and developed metropolises also affect wealth disparities of local consumer across world's cities.

Top 10 Exporting Cities, 2012

Source: Euromonitor International

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December 12, 2013

Datagraphic: Unlocking The Aviation Potential Of Africa, Who Will Leapfrog The Competition?


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The Continent is expected to provide opportunities for expansion where low cost players will be a driving force. Rising urbanisation and income, populous markets and rapid take-up of social media is expected to provide great opportunities. Those carriers that explore first mover advantages in Africa will be on the path to strong long-term profitability capturing untapped international and domestic passenger flows.

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December 6, 2013

Nelson Mandela’s Economic Legacy

Hilary WalshAnalyst Insight by Hilary Walsh - Economy, Finance and Trade Manager

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As South Africa and the world mourn the loss of Nelson Mandela we take a look at the economic legacy of South Africa’s first black president and liberator. Imprisoned in 1963 and sentenced to life, accused of trying to overthrow the government, Mandela was released in 1990 following years of international campaigns. Having led the negotiations to abolish apartheid, Mandela went on to lead South Africa’s first democratic, multi-racial government. Mandela made it his life’s work to eradicate the institutionalised racism, poverty and inequality that ravaged South Africa and in doing so, changed the lives of South Africans forever, becoming the “father of democracy”. Between his election as the country’s first black president in 1994 and 2013, real GDP will have grown by 82.2% while exports will have grown by 265% in US$ terms. South Africa is the largest economy in Sub-Saharan Africa but despite his best efforts, the country still faces serious economic and social problems.

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December 3, 2013

White Paper: Business Challenges and Opportunities in Africa

250_oppChallengeAfrica-v1.1Seven of the 10 fastest-growing economies worldwide are African: Ethiopia, Mozambique, Tanzania, Congo, Ghana, Zambia and Nigeria.  However, the paper encourages companies to look at the continent as a collection of diverse countries and to avoid a ‘one size fits all’ approach.

“High economic growth, coupled with a much-improved business environment is now making Africa an increasingly attractive hub for international FMCG companies,” said Lois René Berman, Research Manager and a co-author of the paper.

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The retail sector is considered one of the ‘hottest’ industries in Africa, surpassing that of natural resources extraction.  Indeed, Euromonitor International research shows store-based retail sales in countries such as Nigeria and Kenya are expected to experience double-digit value increases in 2013, 19% and 13%, respectively.

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Recent Posts

The New African Order

Euromonitor to Speak at WTM Africa

Top 5 Fastest Growing Key Emerging Economies in 2014

Datagraphic: Top 100 City Destinations Ranking

Special Report: Global Dependence on Nuclear Energy Drops

Datagraphic: Ageing and Urbanisation Trends March On but Global Demographic Divide Persists

Does Urban Export Imply City Development?

Datagraphic: Unlocking The Aviation Potential Of Africa, Who Will Leapfrog The Competition?

Nelson Mandela’s Economic Legacy

White Paper: Business Challenges and Opportunities in Africa