The Top 5 Growing International Markets for 2014

You might be surprised that the fastest growing consumer markets in the world are not India or China but smaller and out of the way places like Malawi, Sierra Leone, Turkmenistan, Saudi Arabia and Mongolia. Euromonitor International reviewed consumer expenditure growth rate and per capital consumer expenditure to determine countries with the highest market expansion rates. As the consumer expenditure growth rate and per capita consumer expenditure raises so does the opportunity for international businesses to sell new products and services to satisfy local consumer needs. 

Consumer spending growth rate is the average increase in the amount of money that is spent per household within a country.  The per capita consumer expenditure is the final expenditure of households. The two numbers together determine the percentage of increase and the total spending that can be used by companies to make investment decisions. 

The Top Five growing markets:

Malawi: 16.4 million consumers growing in consumer spending by 18.2% in a land locked South African country with little infrastructure to support large investments.

Sierra Leone: 6.1 million people with an increase in consumer spending of 14.7% in a West African country with poor infrastructure.

Turkmenistan: 14.4% growth rate in consumer spending with a growing middle class and solid infrastructure. Communications, education, leisure and recreation will be the top industries.

Saudi Arabia: 12% growth rate with one of the highest consumer expenditure value. Hotels, services, luxury and finance are top industries.

Mongolia: A small population of 2.8 million with a growth rate of 11.8%.

Conducting business and investing in foreign countries is trickier and more risk oriented than investing in the U.S. Even though the same principles apply in domestic or foreign development many small countries lack basic infrastructure and skill sets that encourage higher levels of investment development. Saudi Arabia has a stable government and solid infrastructure that is beneficial while Sierra Leone may have a higher rate of growth but also political instability and poor infrastructure.

Are Millennials Becoming Known as “Generation Unemployed”?

A growing crisis is unfolding among Millennials worldwide that could someday have an impact on international business. That is at least according to The Ground Truth Project that includes 21 fellows reporting from 11 countries. Global youth unemployment and few opportunities for training new skills are rising across the world.  Where these Millennials seem to be lacking in opportunity they are also trying to create their own avenues through entrepreneurship. 

They have been nicknamed “Generation Jobless” because they are unemployed and not enrolled in some type of formal schooling. They could someday be the chronically unemployed class of people who are not, or cannot seek, to improve their positions in life through formal channels. This makes them more likely to use alternative paths to achievement. 

Nearly a quarter of the world’s 15-24 year-olds are seriously struggling to meet the day-to-day needs of buying food, affording a place to stay or attending trade/formal post-secondary schooling. This is a generation where a large percentage lives in near despair every day making them a major challenge for business and government.

At present, Millennials should be entering into part-time introductory jobs to learn the necessary skills to earn higher wages later on in their careers. Without out these introductory jobs they will be lacking both education and on-the-job skill training to meaningfully fulfill highly skilled job openings.  

Since this is a phenomenon occurring in multiple countries it has implications for future business recruitment and consumption on a global scale. A generation of young people struggling to find their footing will naturally come along with a desire to change their circumstances. This is also a large generation much like the Baby Boomers that has shown a willingness to protest and support causes. 

Without opportunity many have moved toward starting their own micro and small business enterprises in an attempt to develop their own income streams. Their learning style appears to be more focused on a natural style of development outside of formal education. We can see the same mechanics at work with the initial interest in free MOOCs. 

With a decade of recession and rapid environmental change Millennials live in a different world than their parents and grandparents did. There is no such thing as a life-long job, substantive wage increases, or even a reasonable assumption Social Security will still be around when they retire. They are on their own, globalized, and transient making them one of the first generations forced to someday rewrite all the rules.  

http://thegroundtruthproject.org/2014/10/10/generation-t-b-d/

Wine Review: 2012 Cave de Roquebrun Saint-Chinian Terrasses de Cabrio

The type of red wine you serve at your next social gathering says a lot about you as a person. It prompts others as to your style, taste, wine knowledge, and social graces. Cave de Roquebrun Saint-Chinian Terrasses de Cabrio has all the style of a French import without the heavy price making you look sophisticated and refined. It retails for under $15.

It is a ruby dark red wine with heavy legs and plenty of flavor. It is a fairly solid wine but carries with it a high pitched taste and strong flavors. You can notice black fruit, herbs, tart berries and a little tobacco. The taste may not suit all pallets the same way but most will be pleased with the product. 

Red wine is generally a winter wine that is still served most seasons. This red wine pairs well with any meat or spicy dishes you may be offering. Considered rich and ripe cheeses that have a heavy flavor. Think stinky! Putting out a plate of different types of cheeses with this wine will reflect well on your social graces.

Funny Reasons Why Employees Call in Sick

Career Builder recently released statistics on some of the most outrageous excuses for missing work. Over the past year 28% of employees called in sick which is an improvement over the 32% the previous year.  When probed for a reason 30% stated they simply didn’t feel like going to work, 29% said they wanted to relax, 21% to attend a doctor’s visit, 19% to catch up on sleep and 11% wanted to avoid bad weather. 

Considering that employees in professional positions don’t generally provide a reason to use their personal/sick days there is little reason to track these statistics. One could simply decide to watch reruns of Lost and that would be excuse enough under company policies. Those who do not have an allotment of sick or personal days must call in with a reason or risk termination. 

Some of these excuses boarder on being quit funny and seem to beg employers to question their legitimacy. A few interesting top responses employers reported are:

1. Employee just put a casserole in the oven.
2. Employee’s plastic surgery for enhancement purposes needed some "tweaking" to get it just right.
3. Employee was sitting in the bathroom and her feet and legs fell asleep. When she stood, up she fell and broke her ankle.
4. Employee had been at the casino all weekend and still had money left to play with on Monday morning.
5. Employee woke up in a good mood and didn't want to ruin it.
6. Employee had a “lucky night” and didn’t know where he was.
7. Employee got stuck in the blood pressure machine at the grocery store and couldn't get out.
8. Employee had a gall stone they wanted to heal holistically.
9. Employee caught their uniform on fire by putting it in the microwave to dry.
10. Employee accidentally got on a plane.

Employers sometimes require the employee to provide some type of proof.  Sixty-six percent (66%) of employers required a doctor’s note, 49% called the employee and 15% drove by an employee’s house.  When unconvinced 18% of employers stated they fired employees for not being honest about their reasons. 

Employers should use wisdom when cracking down on employee sickness in low-wage fields where employees don’t have the same flexibility as other jobs. At times managers may not allow employees to schedule a day off in advance, may not want to discuss their medical issues with their employer, or may have an appointment they can’t get out from.  

On a positive note a total of 53% have gone into work even though they were actually sick. A total of 38% went into work sick because they could not afford to be set back on their paychecks.  It would appear that the far majority of employees seek to come to work even when they are not ill and generally don’t miss work when unless they have to. Managers should consider these statistics before assuming employees are being dishonest.

The Career Builder Survey