According to global economic research carried out by international investment company – Goldman Sachs, the latest batch of developing countries that are quickly growing into economic power houses are Indonesia, Kenya, Malaysia, Mexico and Poland.
Head of Global Economic Research for Goldman Sachs – Jim O’Neill’s original BRICS (Brazil, Russia, India, China and South Africa) have all reached their current peaks of economic growth for the time being after slowing down since the financial crisis struck; and investors since have turned to countries that have a more stable and resilient government.
Indonesia’s government are promising positive change with real reform on the agenda for the country’s economic growth, while in Malaysia the government is offering credible pledges for smarter economic management. Leaders of all of Asia’s most powerful states are working to avoid conflicts that can destabilize economies, allowing for strong competitive opportunities in Indonesia and Malaysia for those brave enough to make the move to these developing countries a reality.
Kenya is also showing great promise according to Goldman Sachs with the world’s fastest growing middle class. Governance in the region has improved sharply and in 2007 the Kenyan government unveiled Vision 2030 outlining their economic development programme to put the country in the same league as the Asian Economic Tigers (Hong Kong, Singapore, South Korea and Taiwan).
Even in regions where growth is uneven, you can find emerging markets where the reforming of governance provides value and opportunities, with Mexico being pointed out as an emerging market that offers opportunities that even Brazil cannot offer.
Poland has been gaining more influence in Europe in recent years, with the Polish government continuing to liberalise its economy, encouraging foreign investment and developing its infrastructure.
So if you are an expat looking for your next adventure why not try one of these up and coming economies, where opportunities are boundless, and where Britannia Movers International offer the experience and knowledge to help you move to these countries.
Moving to Indonesia
Most expats find themselves living in the popular tourist hub of Bali and the sprawling metropolis of Jakarta, the country’s capital and economic, cultural and financial centre. Indonesia is rich in natural resources, acquiring most of its wealth from natural gas, crude oil and other mining activities, with most expats moving to Indonesia working in these sectors. Telecommunications and teaching English also attracts expats seeking work in Indonesia.
Indonesia is an exciting expat destination, but it’s not without its challenges, particularly for Westerners who will take time to adjust to the conservative way of life that is largely influenced by Islam; Indonesia’s dominant religion.
Indonesia’s climate is tropical with the year being divided into a wet season and a dry season and because Indonesia is located at the equator, the temperatures don’t vary much from month to month. It has the world’s second highest level of biodiversity after Brazil for expats to explore when they aren’t enjoying the vibrant nightlife, entertainment and exotic Indonesian cuisine.
Moving to Malaysia
There is a steady flow of expats moving to Malaysia, thanks to its many years of economic growth and political stability. Malaysia has a good infrastructure which is continuously being improved, a world-class airport, a modern capital city (Kuala Lumpar) mixed in with a tropical paradise that has plenty of unspoilt tropical islands, jungles and many beaches to explore.
As well as being the capital city, Kuala Lumpar is the financial, cultural and economic centre of Malaysia. The world famous Petronas Towers dominate the capital’s skyline, and are the world’s tallest twin towers.
For expats moving to Malaysia, the local Malaysian people are warm, friendly and most speak English. The crime rate is lower than most western countries and violent crime is virtually unheard of especially involving foreigners. For expat retirees, you will find Malaysia offers an excellent standard of living. Malaysia is one of the cheapest countries in the world to live in, and is on par with the costs in Thailand or in the Philippines. Despite this you can find all the modern conveniences, including top quality affordable medical care, fantastic shopping centres offering all the designer brands and all the luxury products you could wish for. As well as the superb local cuisine on offer you will also find a McDonalds, Burger King and Pizza Hut to name a few if you start to miss home.
Moving to Kenya
Nairobi, the capital of Kenya is the largest city in East Africa and the economic hub for the country, with an expanding population of more than 3 million people. After Kiswahili, English is the second working language for Kenyans, making the transition for expats moving to Kenya that bit easier.
The amount of overseas aid money and development funding pouring into the country is one of the contributing factors to Kenya’s growing economy, and many expats working here are employed by non-government organisations. However, in spite of international aid efforts and the emergence of a large middle class, poverty is still a huge problem leading to a high rate of opportunistic crime.
Kenya has considerably large conservation areas and reservations devoted to the protection of its majestic and rare wildlife. The big five game animals of Africa (lion, leopard, buffalo, rhinoceros and elephant) can be found in Kenya and in particular, the Masai Mara.
Although expats moving to Kenya may not be able to find all their everyday conveniences that they would find back home, expats will be offered larger homes, domestic help and high salaries, making for a higher quality of life with a truly unique experience.
Moving to Poland
Having effectively weathered the financial crisis of 2007/08, Poland’s economy remains one of the best performing economies in Europe. Poland has never before been so popular as an expat destination as it’s gradually becoming now, thanks to the rise in work opportunities for enterprising foreigners and the country’s strategic position in the heart of Europe.
Poland is relatively conservative with strong family values and a strong Catholic presence dominating the culture. In the cosmopolitan capital, Warsaw, and in Krakow the locals are following suit with other International cities, with a growing café culture, a thriving and vibrant nightlife and an increasingly cutting-edge cuisine scene. The Poles are known for their ability to have a good party with a legacy of vodka drinking. The youth movement is also encouraging Poland to become a more modern and welcoming place for expats to move to.
There are plenty of things to do and see in Poland with each city and town having its own distinct feel and social culture, it’s beautiful countryside (30% of Poland is covered by forest), and UNESCO world heritage sites such as Krakow’s Old Town, the medieval town section of Torun, the Salt Mines and Auschwitz-Birkenau.
Moving to Mexico
Mexico is a very popular expat destination (estimated 2 million expats currently living in Mexico), particularly for retiring American’s due to its close proximity to the US, it’s low cost of living and good quality of life. The country has plenty of beautiful sandy beaches, fascinating attractions, friendly locals and an all year round warm climate.
Even though Mexico boasts one of the strongest economies in Latin America, with a strong trade agreement with the US, business opportunities for expats looking to build a new life abroad are bountiful as it is still largely a developing country.
Although English is spoken by those with a good education together with the majority of international businessmen/women, it is advisable to learn Spanish when moving to Mexico, both to integrate fully with the locals and also to ensure that when you’re looking to rent or buy property or anything where there are legal documents involved and a lot of money, the Spanish version of any contracts are the ones taken into consideration if there are any disputes, so you need to know that what they say is the same as in the English versions.
The most popular expat havens are San Miguel de Allende considered one of the most beautiful small towns in Mexico with a rich arts and crafts tradition, and Puerto Vallarta a Pacific-coast town full of chic boutique hotels, trendy restaurants and designer shops.
Mexicans have a very laid back approach to life, excellent for expats looking for a way to escape the rat race back home, and because they are so warm and friendly if you ask for directions, you will often find that Mexicans will walk you to where you want to go. No one will remain a stranger here for long.