ABSTRACT
In 2000, growth markets – any economy outside of the developed world that is at least 1 per cent of current global GDP (such as China, Russia, Brazil, India, Mexico, Korea, Turkey and Indonesia) – represented 13 per cent of global GDP. This subsequently rose to 25 per cent in 2011, being projected to reach almost 50 per cent by 2050 (GSAM 2012). This is in contrast to nations with developed status whose combined share of global GDP is forecast to reduce from 63 per cent in 2011 (it was 78 per cent in 2000) to 31 per cent in 2050. A major component of growth market, emerging and other market momentum will be the rapid expansion of these nations’ service sectors catering for consumptive demand created by urbanisation and ‘economic enfranchisement’ (ATKearney 2012, Sharma 2012). A vital element of this growth will be the (continued) extension and proliferation of retail, leisure, hospitality and service-based multi-site entities, many of which are owned by internationalising organisations seeking expansion outside of saturated, ‘no/ low’-growth developed market terrains.
