Exciting ventures in emerging markets require time, patience

Exciting times lie ahead for the PR and communications industry as agencies and their clients, corporations, and PRWeek look beyond the mature market here in the US and devote time and resources to uncovering where the most lucrative opportunities await in emerging markets.

Exciting times lie ahead for the PR and communications industry as agencies and their clients, corporations, and PRWeek look beyond the mature market here in the US and devote time and resources to uncovering where the most lucrative opportunities await in emerging markets.

Beyond time and resources it is a process that will demand patience and commitment to understanding the potential, challenges, and opportunities. A relatively untapped market represents revenue growth, but does it have an educated workforce that will sustain an agency's or corporation's expanding footprint? Will these new efforts be given time to incubate and come to fruition in this results-now business world?

Time will tell, but from all indications, agencies and corporations are bullish and committed to planting their flag in a new territory. APCO is going "where the action is" in places such as Abu Dhabi and Turkey, according to CEO Margery Kraus. Ogilvy global CEO Chris Graves is also optimistic about emerging markets such as Turkey, as well as the Czech Republic. Starbucks is looking at Latin America as a key area of growth with hundreds of stores planned.

This August issue of PRWeek reflects our commitment, in lockstep with the rest of the industry, to this new global frontier.

PRWeek's first Japan roundtable is highlighted on page 48. Editor-in-chief Steve Barrett moderated a panel of industry movers and shakers from Nissan, Procter & Gamble, Deutsche Bank, and Edelman, among others, to discuss not just trends in the industry, but also to educate and challenge the role PR and communications plays in the future of a country. Our EVP Julia Hood also just spoke at a summit held by the China International Public Relations Association in Beijing about trends in the global market.

The PRWeek reach into global markets will be long term and insightful. Our global view will continue in the coming months as we speak to agency and corporate leaders with boots on the ground in places such as Brazil and Colombia in our comprehensive feature on Latin America in September. We are planning to tackle emerging markets in October and I would love to hear your thoughts. In November, we are scheduling a special report that looks at the market in Asia.

With the recent International Communications Consultancy Organisation World Report predicting growth in markets such as Croatia up 10% and India as high as 20%, the writing is on the wall in this age of PR without borders. 

Bernadette Casey is the senior editor of PRWeek. She can be contacted at bernadette.casey@prweek.com.

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