Global Markets Can Boost Revenue Growth For Sluggish Western Brands

Most Western markets face the prospect of a moribund economy in 2024. The US GDP, for example, is predicted to grow by 1.1% in 2024, and most “developed” countries won’t fare much better. For Western brands looking to increase revenue globally, markets in South and Southeast Asia represent significant opportunities, growing at five to six times the US rate. When crafting a global growth strategy, companies must consider additional factors. The base matters: Indonesia may be growing more slowly than Vietnam, but it is a much bigger market. Also, the unique complexities of each market (such as ease of entry or consumer preferences) should heavily influence global strategy.