Africa: Economic Research

New cities set to alter investment landscape in Africa

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With Africa’s population projected to double by 2050, countries are planning new cities to house increased industrial activity and urban populations, and address the constraints of many of the continent’s mega-cities. New urban developments around the globe are working to tackle issues surrounding population growth, sustainability and economic resilience. In 2015 Egypt announced that it would build a new capital. In addition to administrative offices, the New Administrative Capital is expected to host a stadium...

Digital financial inclusion is reshaping payments in Côte d’Ivoire

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Already a regional standout in terms of growth and investment inflows, Côte d’Ivoire is striving to become a pioneer in digital financial inclusion. The West African country saw key indices rebound swiftly following the Covid-19 pandemic, with GDP growth reaching 7% in 2021, returning to pre-pandemic levels following a drop to 1.7% in 2020. Growth is set to remain strong, estimated at 6.7% in 2022 and projected to reach 6.2% in 2023, according to the IMF. Coupled with robust investment inflows over the past decade, the country...

Emerging markets invest in film media to extend their global reach

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As audiences return to entertainment in physical venues following the Covid-19 pandemic, several emerging markets are looking to film and media to diversify economic revenue streams and extend their cultural reach abroad. Global cinema box office revenue saw a strong upswing in the first quarter of 2023, with the year’s gross revenue set to reach $32bn. While still 20% below the annual average recorded in the 2017-19 period, the figures show that the industry is well on its way to recovery...

Demographic and tech shifts alter the distribution of global talent

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As the global economy continues to adapt to ongoing macroeconomic shocks, many countries are looking to boost human capital through training programmes, technology adoption and immigration. Following key shifts in labour trends resulting from the Covid-19 pandemic, such as the switch to remote work and acute labour shortages in a number of developed economies, countries are re-evaluating how to foster a skilled workforce to facilitate sustainable future expansion. Population projections see growth...

What China’s uneven economic recovery means for emerging markets

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After three years of rolling Covid-19 lockdowns and trade disruptions, China posted faster-than-expected GDP growth in the first quarter of 2023, at 4.5% year-on-year (y-o-y), but the uneven nature of its recovery is sending mixed signals for emerging markets. The strong performance, which exceeded the expectations of many analysts, was powered by 5.4% expansion in the services sector, including a 10.6% spike in retail sales in March, as pent-up demand and high domestic savings drove market activity...

The growth trajectory of religious tourism in key markets

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With many emerging markets diversifying their tourism offerings, faith-based tourism is set to become a key segment for a number of markets worldwide. An estimated 330m people travel for religious reasons each year, according to the UN Word Tourism Organisation, forming a significant market for countries with attractions of spiritual or sacred value. These trips include pilgrimages as well as sightseeing trips to important historical and religious sites throughout the year. Additionally, a 2017 study reported that some...

Free ad-supported television poised to grow share of emerging market viewers

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As emerging markets expand internet access and younger generations adopt different habits of consuming global media and entertainment, free ad-supported television (FAST) is poised to gain market share as viewers transition from traditional cable, broadcast or satellite television to over-the-top (OTT) internet-based platforms. US tech giant Google announced two weeks ago that it was seeking to become the leading FAST channel aggregator by adding Tubi, Plex and Haystack News to its existing FAST...

Emerging markets look to capture a larger share of the aviation market

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With global aviation passenger numbers rebounding, emerging markets are looking to capture market share through increased investment and sustainable aviation fuels (SAFs). As OBG reported in February, tourism figures rebounded in 2022, thanks to the easing of Covid-19-related restrictions and increased investment in tourism. The sector’s recovery is set to continue, with international tourist arrivals likely to reach 85-90% of pre-pandemic levels in 2023. Revenue is also on the upswing for the global aviation industry after an...

Global CEO Survey: What is on the horizon for emerging markets?

While the recovery period following the Covid-19 pandemic saw the unlocking of major capital in emerging markets, inflationary pressures, fluctuating commodity prices and geopolitical concerns have since tempered the global economic outlook for 2023. Balancing opportunity and risk has become a priority for shareholders and investors, but emerging markets have remained resilient. Some regions, such as the Gulf, are looking to funnel elevated hydrocarbons revenue into sustainable mega-projects, whereas leaders in Asia...