you could find yourself
Posted: Thu Jan 30, 2025 6:43 am
The chart below projects some significant movements to 2030.
China is expected to continue to expand, taking the top spot in terms of economic growth. India is also expected to overtake the current leaders, while other economies could strengthen their positions. The global picture by GDP could look very different in 10 years.
Top 10 countries by GDP in 2030
Due to rapid growth, the opportunities could be huge and if you take advantage of them, in a good situation.
Netflix, for example, now has about 56% of its customers outside the US. In 2010, it operated solely on the domestic front. Today, 90% of its growth is driven by international markets.
Many other large American companies report that about 1000 mobile database two-thirds of their total sales come from outside the United States. These include Intel, Mondelez, ExxonMobil, Apple and GE.
So, a cursory assessment of the global market shows that there could be global opportunities for certain businesses in the coming years. The question is: how do you select a country to start an expansion?
The key steps of a market assessment
It is possible to assess a foreign market step by step, taking into account many of its variables: from local competitors to cultural barriers and consumer behavior.
Before you start looking for a potential new market, you need to understand how your product fits into the current market. Ask yourself, does your offering meet a strong demand in your home market? And how can you enter another market with different consumer behaviors?
If you don't see growth in your current region, expanding elsewhere can be difficult as it could indicate that your product is not aligned with customer needs.
Before you move forward with the process of entering a completely new market, take the time to refine your product, understand your customers, and hone your local marketing message.
Step 1. Choose a specific country for the evaluation
Market assessment should guide you in expanding into a new region.
China is expected to continue to expand, taking the top spot in terms of economic growth. India is also expected to overtake the current leaders, while other economies could strengthen their positions. The global picture by GDP could look very different in 10 years.
Top 10 countries by GDP in 2030
Due to rapid growth, the opportunities could be huge and if you take advantage of them, in a good situation.
Netflix, for example, now has about 56% of its customers outside the US. In 2010, it operated solely on the domestic front. Today, 90% of its growth is driven by international markets.
Many other large American companies report that about 1000 mobile database two-thirds of their total sales come from outside the United States. These include Intel, Mondelez, ExxonMobil, Apple and GE.
So, a cursory assessment of the global market shows that there could be global opportunities for certain businesses in the coming years. The question is: how do you select a country to start an expansion?
The key steps of a market assessment
It is possible to assess a foreign market step by step, taking into account many of its variables: from local competitors to cultural barriers and consumer behavior.
Before you start looking for a potential new market, you need to understand how your product fits into the current market. Ask yourself, does your offering meet a strong demand in your home market? And how can you enter another market with different consumer behaviors?
If you don't see growth in your current region, expanding elsewhere can be difficult as it could indicate that your product is not aligned with customer needs.
Before you move forward with the process of entering a completely new market, take the time to refine your product, understand your customers, and hone your local marketing message.
Step 1. Choose a specific country for the evaluation
Market assessment should guide you in expanding into a new region.