BRIC Is Out, MIST Is In

From: Expoweb

Most of us have heard of BRIC, right? Brazil, Russia, India and China. The acronym stood for THE Emerging markets. So what’s happened?  Brazil is going strong—but it still has a lot of trade barriers erected. Russia? Politics and corruption have taken their toll. India? Lack of infrastructure in the country, particularly exhibition venues and horrid transportation, has made it less attractive. And China? Well, China’s exhibition industry has made gigantic strides. There are tons of venues and tons of shows. I’d put it in the category of “Mostly” Emerged.

A panel of experts at the recent SISO CEO Summit did a great job describing where they’d put their money now—and in five years. Interestingly, they are looking at, and investing in, MIST: Mexico, Indonesia, South Korea and Turkey. Some say the “S” should stand for South Africa.

In spite of the over-hyped press, Mexico is safe and on the rise. Between rising wages and transportation costs in Asia, the maquiladora business in Mexico is booming. Mexico has more free trade agreements in place than any other country in the world. There are good (privately owned) venues in the major cities and great suppliers, hotels and services.

Indonesia is the fourth most populous country in the world—with 238 million people on 17,508 islands (Yes, Bali is one of them! Actually, Bali is a province and the island of Bali is part of the province.). They are becoming more and more aggressive in the international exhibition market. There are 74 exhibitions scheduled for April alone.

South Korea, aside from the political rumblings from its northern neighbor, has a robust exhibition industry. It’s got some great venues—particularly in Seoul—and is eager to expand show offerings. South Africa is THE place to be on the African continent. Some multinationals have already claimed a spot and are busy geo-adapting shows. It is a growing industry in a stable country.

Turkey is the hot spot in emerging markets these days, particularly with some multinationals competing for shows and local partners. The country bridges the gap between Europe and the Middle East in commerce and politics. Turkey's largely free-market economy is increasingly driven by its industry and service sectors, although its traditional agriculture sector still accounts for about 25 percent of employment. An emerging class of middle-class entrepreneurs is adding growth to the economy and expanding production beyond traditional textiles and clothing sectors.

What do you think the next emerging market will be?

Note: This blog was adapted from ITI’s latest Global Glimpse, its e-newsletter, and thanks to Paul Woodward from UFI for introducing me to MIST!