Special Features
Digital Uptake Will Help Fuel Region’s Above-Average Growth
As buoyant growth shifts towards emerging markets, the GCC region looks set to emerge as the new economic power by 2020, according to Steve Hamilton-Clark, CEO of leading custom consumer research house, TNS MENA. “The GCC will see continuous development and show above-average growth at 3.9 per cent in 2012, compared to flat lining scenarios in the USA and, perhaps worse in Europe,” highlighted Hamilton-Clark adding that TNS MENA’s recent move to new, modern open space offices was designed to support this growth trend.Hamilton-Clark said that a key growth indicator is that the Middle East’s internet and digital market has grown by 1,800 per cent in the last ten years.
“Internet penetration in the region is showing one of highest in the world today,” he said. TNS recently concluded the second TNS Global Digital Life research series and is set to present exclusive insights of the market at this month’s TNS Executive Forum.
He went to suggest that the BRICS nations - Brazil, Russia, India, China and now South Africa - will also feature in the region’s economic buoyancy.
“With the rise of BRICS, the global economy has already seen significant shifts in its balance. It is now the turn of the region. The GCC States have been fast to forge alliances with the BRICS markets by increasing bi-lateral trade and investment, at the same time seeking to build stronger links with other new and emerging economies, including China, mapping a modern-day Silk Route.”
He observed that as US and European economies respond to the economic downturn with flat-line activity, many companies are looking to enter the MENA region to leverage its growth opportunities.
“We are already meeting the influx of new market entry requiring specific data and insights into the region. TNS covers the whole MENA region and our consumer connection expertise enables clients to make informed decisions in leading sectors including FMCG, Technology, Finance, Media, Healthcare and Automotive.“
TNS recently reinforced its regional presence by moving to a 2,300 square metre state-of-the-art office in the heart of Dubai to further ensure capabilities to address this increasing demand and changing client needs across all sectors.
Meanwhile, Hamilton-Clark also warned that developed economies are already facing challenges of ageing populations and an increase in the demand for government support for this age group. On the contrary, the GCC looks to have a relatively low dependency ratio of pensioners to working age population by 2020, with the high youth population needing support.
“The recent Arab Spring has highlighted the immense challenges of supporting a population with a huge youth cohort. Indeed, as much as 65 per cent of the regional population is under the age of 24 and with this challenge comes immense opportunities for growth and investment across all sectors of the economy from education to the automotive sector, to fmcg products, travel and leisure and much more.”
He said that these dynamics, and more, see the region positioned to greatly influence and even re-shape global trends.
“TNS research delves deep to find out who is engaging with brands and looks to counsel a 200+ strong client-base, working with them to craft winning brand communication strategies.
“For example, our research series such as the ‘Arab As Consumer’, ‘ARAC 2020 Women’, ‘Brands, Islam and the New Muslim Consumer’, and ‘Shabab Tek’ offers unique insight to 17 regional youth markets,” concluded Hamilton-Clark.
Every year across the MENA region the company’s consumer intelligence is shaped from over 650,000+ exclusive consumer conversations and 3,200+ focus groups conducted by over 150 research experts who use this insight to offer accurate end-to-end counsel and solutions to clients.
