Economies to Watch: MIST Is the New BRIC

Category: Culture, International Business

First, a bit of background. BRIC (Brazil, Russia, India, China) countries aren’t going away anytime soon, according to a post in the Wall Street Journal blog. However, the main drivers that make BRIC attractive for international investment are higher per-capita income and GDP…and MIST (Mexico, Indonesia, South Africa, Turkey) countries offer similarly attractive numbers.

Mobile app businesses, especially, should listen to MIST data. In an earlier post this year, we highlighted the importance of mobile applications in the emerging markets of the Middle East and Africa. These markets are still growing, but MIST might just overtake them. Look at the data compiled recently by AdAge on the surge in projected smart phone purchases in the MIST region and you’ll be asking yourself, how quickly can I get my mobile application translated into Spanish, Indonesian, Korean, and Turkish?

If you are gearing your business towards mobile devices, these are the countries (and languages) to keep your eye on…and if you are already in these markets selling your products, read up on global mobile advertising, which is an ideal way to reach these customers who may not have internet access at home but rather rely on their smart phones to make purchasing decisions.

Photo attribution (Mexico City): cotaro70s