UAE ranked fifth in most attractive emerging market for business: European SMEs
FedEx Express, a subsidiary of FedEx , and the express transportation company, announced the findings of a new study it has sponsored with the Economist Intelligence Unit (EIU): "New horizons: Europe’s small and medium-sized companies look to emerging markets for growth", surveying the views of more than 600 European SME executives.
The study reveals how small and medium-sized enterprises (SMEs) are looking to emerging markets for rapid revenue growth as economic recovery in Europe remains slow. With many SME executives noting the “over-subscribed” and congested nature of the European marketplace, emerging markets have been fertile ground for SMEs seeking above-average returns.
Almost 90% of the European SMEs surveyed are already doing business with emerging markets, and more than half expect to increase their involvement in 2011 and 2012. Furthermore, more than half (55%) of the SMEs believe that the traditional BRIC countries of Brazil, Russia, India and China will be crucial to their business in the coming year, with nearly half (48%) of the SMEs singling out Brazil for improved perceptions of the country, bolstered by a smooth transition of political power and better infrastructure in the run-up to major sporting events. The UAE was found to be the fifth most attractive emerging market to do business with in the coming year by European SMEs.
“Globalisation, e-commerce and free trade has opened up new markets to SMEs across the EMEA region. As a pioneer of reliable and flexible global transportation solutions, we’re able to give our customers a meaningful edge as they enter uncharted territory and sell to new consumers. We understand that different businesses have different needs, so we have a suite of services that can meet the speed and cost needs of SMEs on a global scale,” said David Binks, senior VP, Operations, FedEx Express Europe.
“Emerging markets are seen as crucial to the growth strategy of many European SMEs,” says Jason Sumner, senior editor at the EIU and editor of the report. “And SME executives believe they have some advantages when compared with larger rivals – they can respond more quickly to changing conditions, have closer relationships with customers and can better target niche markets.”