BRICS countries now have “outlived their usefulness”, it’s now the time for 3G Countries. 3G refers to third Generation Countries which have huge potential and growth prospects. 3G countries consists of Bangladesh, China, Egypt, India, Indonesia, Iraq, Mongolia, Nigeria, the Philippines, Sri Lanka and Vietnam. All these countries have shown high GDP growth and possible future for Investments. 3G is a global hub of manufacturing, agriculture, mining and trade, as well as one of the fastest growing financial markets in the world. Driven by population and Income growth, all the 3G countries comes from Asia and African continent.
China will overtake US to be largest economy in the world by 2020. 3G countries contribute to 16.6% of world’s GDP, home of 3.5 billion people (47% OD World population) and 65% of world trade. Average GDP growth rate of 3G Countries is 6.11% which is Twice of World’s average. 3G achievements were tremendous in past two decades, with Manufacturing Sector growth in double digits. Apart from Manufacturing Sector, Dairy, Mining, Meat, Agriculture, ICT, Telecom and other sectors have shown tremendous growth in past decade.
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The 3G countries are very different from each other. In 2014, China GDP is almost 770 times more than Mongolia and more than 137 times higher than Sri Lanka. Inflation rate in Egypt is almost 115 times more than Sri Lanka during the same period. China and India are members of BRICS because of which they have shown better performance among 3G Countries. Debt to GDP ratio ranges from 11% in Nigeria to 87.1% in Egypt as of 2014.
Today, only 28% of population in 3G lives in cities and their urban areas accounted to more than 38% of combined GDP of all 3G countries. Urban contribution to the combined economy is expected to reach 50% of the combined GDP by 2020. Except Iraq, all other countries are safe to invest and live.
Each country envisages and aspires a greater economic dynamism and prosperity. And wants to be a creditor nation than being a debtor nation.
But that is not easy to achieve. It depends on respective government’s public policy, political and sovereign power and the overall laws of the country.
Lasting prosperity is a result of a persistent commitment to low tax rates, a stable currency, limited government interferences and strong private property rights, openness to global trade and financial flows, and sensible regulation.
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Few of the economic factors on which a nation’s attractiveness depends:
- Real GDP
- M2 (Money Supply) and Money Market
- Consumer Price Index (CPI)
- Wholesale Price Index (WPI)
- Consumer Confidence Survey
- Employment Statistics
- Retail Trade Sales and Food Services Sales
- Housing Starts
- Manufacturing and Trade Inventories and Sales
- Respective Stock Indexes
- Interest Rates, Bond Yields
- Trade Deficit (Import/ Export)
- Credit Demand (Both from Consumers and Industry)
- Sovereign Rating
Tax on foreign investments and corporate tax:
One of the taxes that have perhaps the largest impact on a nation’s ability to compete in global markets is the corporate tax. The reason, of course, is that tax’s large impact on the flow of investment. In this age of information and technology, borders do not matter much anymore for businesses. The world has become one massive shopping market for capital. Nations are in a contest to climb past each other in a race up the ladder of economic growth.
- GDP (in Million USD)
- GDP YoY (in %)
- Interest rate (in %)
- Inflation rate (in %)
- Budget (in %)
- Debt/GDP Ratio (in %)
- Current Account
- Key factors in the growth of 3G nations are high mineral reserves, availability of raw materials, economic growth, rising transportation needs, un-matured and untapped markets in most of the countries, young workforce and cheap Labour in most of the countries, strong financial market and strong fundamentals.
- Slump in oil prices in 2015, increased the revenue of India, China and other non-oil exporting countries in 3G.
3G Countries market is badly affected by old technology, low urban population and high unemployment, dependence on agriculture sector, vast population, undeveloped infrastructure, traditional agriculture practices, low disposable income and low investments.
What the report offers
The study identifies the situation of 3G, and predicts the growth of the countries. Report talks about Agriculture, Banking & Finance, Dairy, Meat, E-Commerce, FMCG, Healthcare, ICT, Manufacturing, Mining, Trade & Logistics, Tourism and Water & Sanitation Market with production, consumption, import & export data, government regulations, growth forecast, major companies, upcoming companies & projects, etc. Report will talk about Economic conditions of and future forecast of its current economic crisis, reasons and implications on its growth. The study clarifies that, currently, the 3G growth is high as compared to the world and it is set to be surpass all the World Economies by 2020, which is expected to grow at an average GDP growth rate of 7.8% from 2014 to 2020. Lastly, the report is divided by major import & export goods & services and leading importing and exporting partners.
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