Blog: Are MINTs the new BRICs?
James Wilmore | 7 January 2014
Move over the BRICs, the MINTs are here to freshen things up.
Yes, we have a fresh batch of countries that are set to emerge as powerhouses of the world economy, if they continue their current trajectory. Jim O'Neill, the economist who coined the acronym BRICs (Brazil, Russia, India and China), has come up with a new one: the MINTs - that's Mexico, Indonesia, Nigeria and Turkey.
The reason these countries are being talked up, O'Neill says, is because for at least the next 20 years they have good "inner demographics" - which means they'll see an increase in the number of people eligible to work, relative to those not working.
"If Mexico, Indonesia, Nigeria and Turkey get their act together, some of them could match Chinese-style double-digit rates between 2003 and 2008," says O'Neill, writing for the BBC.
Based on Goldman Sachs figures, Nigeria is set to see the biggest lift in GDP, rising from its current position of 39 to 13 by 2050.
Drinks firms are no doubt already on top of these trends. Anheuser-Busch InBev's takeover of Mexico's Grupo Modelo is the obvious example. But Turkey, for example, is far from an easier place for alcohol producers to operate at the moment after a regulatory clampdown last year.
For drinks producers, some of the MINTs may not be as fresh tasting, compared to other industries, for some time yet.
UK-based readers can listen to a BBC Radio 4 series on the MINTs here
Do you like whisk(e)y? And, I mean, really like whisk(e)y? Are you at a loose end in the first half of 2017? If so, then I've found just the job for you....
Whenever we read anything about Millennial consumers, there is almost always mention of the personalisation trend as well as the importance of social media....
Ever wondered what fuels Anheuser-Busch InBev's acquisitional drive? Is it naked ambition? Faith? The good of mankind?...
Anheuser-Busch InBev is reportedly calling a halt to its Seth Rogan and Amy Schumer Bud Light campaign in the US....
- Diageo NA head on Trump, Millennials, Bourbon
- Has Millennial-mania drowned out elder consumers?
- Interview - Loch Lomond GTR head Andre de Almeida
- Absolut and Smirnoff's conflicting Millennial view
- Brown-Forman's H1 performance by region, brand
- Coca-Cola CEO Muhtar Kent set to stand down
- Diageo wine assets integration head to leave TWE
- Brown-Forman's barrel sales take Scotch hit
- Absolut not "sufficiently focussed" on Millennials
- Angostura places CEO on administrative leave
- Luxury Alcoholic Drinks: The Spirit of Premiumisation
- Global gin insights - market forecasts, product innovation and consumer trends
- Global Wine Market 2016-2020
- Global Cognac insights - market forecasts, product innovation and consumer trends
- Global rum insights - market forecasts, product innovation and consumer trends