Size & Growth Attractiveness
The most symbolic development within the Market Size
& Growth Attractiveness sub-Index this year is that India
has surpassed China to take the top spot in the ranking
for the first time. This is mainly thanks to India’s superior
economic growth forecasts over the medium-term.
Another major development in the year is the decline of
Nigeria’s score and rank – its economic outlook has been
substantially downgraded following the oil price crash
among other things. Other major oil producers have
also suffered to one degree or another, though Nigeria
appears to have been the hardest hit.
Given difficult global economic conditions, there aren’t
too many markets making decent strides forward, but
the Philippines is one of them, moving up from 12th to
8th. Egypt is another, up from 14th to 10th, as its score
has improved to 6.77. Argentina has jumped from 28th to
22nd primarily by virtue of the Macri government setting
out a credible economic plan.
Of the five countries included in the Index for the first
time, Iran enters at 16th, sandwiched between its regional
rivals Saudi Arabia (14th) and UAE (19th). Iran also
made substantial gains in this sub-Index year-on-year,
moving up from 21st to 16th. The remaining four new
entrants, Angola, Ghana, Mozambique and Myanmar, are
unsurprisingly all towards the bottom of the ranking. Their
scores and ranks did not change much compared to last
To read the Emerging Market 2017 full report, click here.