As the world mourns the loss of Nelson Mandela and the pivotal role he played in race relations, Hilary Walsh, Economy, Finance and Trade Manager at Euromonitor discusses Mandela’s economic legacy which should also be remembered. Mandela used his iconic status to attract foreign direct investment and improve the trade environment in the country, creating better living standards for South African citizens. South Africa still has massive unemployment figures and socio-economic discord, but the country is still being helped by the economic reforms Mandela put in place.
Continue reading "Nelson Mandela’s Economic Legacy" »
Download full datagraphic as pdf
In post-recessionary times, when incomes are squeezed, money does appear to make people happier in the world’s largest advanced economies. Perhaps surprisingly time spent on leisure does not always correlate with life-satisfaction. Although it’s notable that the countries with most time to devote to leisure also have the highest unemployment rates so this could perhaps be explained by the enforced nature of the leisure time. Advanced Asian economies such as Japan and South Korea however, where long working hours cultures exist, also have lower than average life-satisfaction. So perhaps life-work balance, amply rewarded with increasing incomes, is the key.
Continue reading "Money Can Bring Happiness in Post-Recessionary Times " »
Analyst Insight by Pavel Marceux - Contibuting Analyst, Technology Communications and Media
Euromonitor has identified three emerging economies with the highest per capita consumer expenditure on communications in the developing world in 2012: the UAE, Israel and Qatar. Due to unique factors, such as demographics, infrastructure and culture, these three markets demonstrate some of the world’s strongest digital consumption, offering opportunities for high uptake in segments ranging from smartphones to social media. Interestingly, the top three markets are all located in the Middle East, demonstrating an appetite for connectivity in the region and the adoption by local consumers of digital goods as necessities. Nonetheless, these markets offer individual risks, as well as opportunities.
Consumer Expenditure on Communications in the UAE, Qatar and Israel: 2007-2020
Source: Euromonitor International from national statistics/Eurostat/UN/OECD
Note: Figures in constant 2012 prices, year-on-year exchange rates
Continue reading "Top 3 Emerging Markets Offering the Strongest Digital Consumption" »
Analyst Insight by Pavel Marceux - Contributing Analyst, Technology, Communications and Media
Businesses are placing their resources into the online domain more than ever before as the festive season approaches, with digital battle lines being formed across web platforms. Even markets without traditional shopping spikes in December and November are beginning to tap into the festive mentality, with China’s Singles Day on November 11th becoming the world’s largest e-commerce event. As more of the global population comes online, increasingly through mobile platforms, the myriad of ways to interact with consumers continues to expand, with trends such as social commerce and “showrooming” likely to dominate the 2013 holiday season. However, bricks-and-mortar retailers without online, and particularly mobile, strategies will struggle to pull in the holiday spenders.
Continue reading "Festive E-Commerce: How Firms Are Chasing Digital Consumers During the Holidays" »
Analyst Insight by Daphne Kasriel
While in many peoples’ minds, it is synonymous with Hello Kitty merchandise and a quintessentially Japanese predilection for sugary appeal based on child-like design sensibilities, Kawaii culture is a trend that is manifesting itself globally. According to Teri J.Silvio, an academic at the Institute of Ethnology in Taipei City-based Academia Sinica: “Cute objects provide a respite from the struggles of daily life”.
A Japanese Speciality
In Japanese, Kawaii means cute or adorable. Kawaii has gradually gone from a small subculture in Japan to an important part of Japanese modern culture as a whole. Many bloggers feel that aspects of kawaii culture such as cosplay (where people dress up as characters from comic books or cartoons), maid cafés and computer games are drawing people closer to Japan. Japanese companies are skilled at transforming products and services not traditionally thought of as adorable or cuddly into the latest kawaii must-have trend. This includes anything from USB keys to police stations which have their own cartoon mascots to Nippon Airlines aeroplanes decorated with colourful anime characters, and even government safety signs featuring cute characters to convey serious messages. Mark Silato, a blogger on one of the many kawaii websites writes: “Regarding public notices in Japan, they sure beat Western ‘getting yelled at’ any day.”
Continue reading "Kawaii Culture: Don’t Underestimate the Power of Cuteness" »
Analyst Insight by Hilary Walsh - Economy, Finance and Trade Manager
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.
Continue reading "Nelson Mandela’s Economic Legacy" »
Analyst Insight by Daniel Solomon - Economist, Center for Analytics, Innovation and Modeling
The Japanese economy has been underperforming for several decades. After almost catching up with the US during the boom in the 1980’s, Japan seems to have been stuck at approximately 70% of the US level of income per capita (figure 1). The election of Shinzo Abe and the combination of easier monetary policy, fiscal expansion and promises of deeper structural reforms have significantly improved the outlook for Japan. This article explores alternative scenarios for Japan in 2014, developed using our global macroeconomic model (Euromonitor International’s Macro Model – EMM).
Figure 1: GDP per capita in Japan relative to the US, PPP adjusted
Source: Euromonitor International from IMF,OECD
Continue reading "Japan's Economy in 2014: Bear or Bull?" »
The French government has suffered a raft of disappointing economic releases and bad press in past weeks. After falling 0.1% in September, the statistics office released consumer spending data showing a fall of 0.2% in October. Household confidence fell in November and Q3 GDP results recorded that the economy shrank by 0.1% quarter-on-quarter. Standard & Poor’s have also downgraded France’s credit rating and criticised its high taxes and lack of dedication to structural reforms.
Continue reading "France and the UK: A Tale of Two Economies" »
Analyst Insight by Media Eghbal - Country Insight Managing Editor
In November 2013, one of the strongest typhoons to make landfall since records began struck the central Philippines. It is too early to assess the full damage to the overall economy but Euromonitor forecasts a slight downward revision in real GDP growth in 2013 and 2014 (to around 7.0% and 6.5% respectively) in line with government estimates that the typhoon may reduce economic growth by as much as 1 percentage point in 2014. However, we believe that investors should not rule out the country’s long term potential as one of the next major emerging markets to watch globally. Furthermore, reconstruction efforts will provide a boost to economic growth in the impacted regions in the short term.
Continue reading "Risks and Vulnerabilities Philippines: Typhoons are a Risk but Don’t Rule out the Emerging Market Potential" »