Frontier markets—countries such as Nigeria, Ecuador, Vietnam, Cambodia and Romania, whose financial markets are considered insufficiently transparent or liquid to qualify as emerging economies—are home to almost a third of the world’s population. Of the 10 fastest growing economies worldwide, eight are frontier markets, according to HSBC. Half of the countries that global advertising agency, Ogilvy & Mather, determined would be key to middle-class consumer growth over the next decade are frontier markets.
They are also hotbeds of innovation in sectors such as fintech, healthcare, communications and cashless payments. And events of the past year, while they have hamstrung some of the commodity producers, have fueled exciting developments in manufacturing, trading and technological innovation in frontier markets.
For multinational companies and for portfolio investors, frontier markets represent an unrivaled opportunity to tap into a rare growth story that combines a swelling population, rising incomes, rapidly increasing connectivity, innovative business communities, and surging economic growth. For aspiring business leaders, frontier markets offer access to a growth story that will not only be professionally fulfilling and diverse, but can also have tremendous human, environmental and social impact.
This course will provide students with a clear understanding of the opportunities and challenges in frontier markets, and a vision for how they can play a part in the development of some of the world’s most exciting economies, businesses, peoples, and ideas.