Data Snapshot

Global Markets Can Boost Revenue Growth For Sluggish Western Brands

Asia Presents The Best Opportunity For Growth

August 7th, 2023
Dipanjan Chatterjee, VP, Principal Analyst
Dipanjan Chatterjee VP, Principal Analyst
With contributors:
Mike Proulx , Bruna Venicio

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.

Want to read the full report?

Contact us to become a client

This report is available for individual purchase ($395).

Forrester helps business and technology leaders use customer obsession to accelerate growth. That means empowering you to put the customer at the center of everything you do: your leadership strategy, and operations. Becoming a customer-obsessed organization requires change — it requires being bold. We give business and technology leaders the confidence to put bold into action, shaping and guiding how to navigate today's unprecedented change in order to succeed.