Surf Industry and Emerging Markets
Table of Contents
Abstract 2
Emerging Markets 2
State of the Surf Industry 4
Barriers to Entry 6
Drivers of Surf Economy 8
Development of Surf Industry in Emerging Market 8
Case Analysis: Sri Lanka 10
Drivers of Surf Industry Development 12
Social Cultural Impacts and at-risk youth 13
Conclusion 15
Abstract This paper will explore the concept of emerging markets, and the profit potential of multinational enterprises when entering these developing economies. In particular the potential for the surf industry to exploit new niches in these countries, tailoring their product to low-income per capita demographics. Integrating the surf industry and tourism into these markets while cultivating the economies and infrastructure of appropriate regions will enforce goodwill. This paper will also discuss the tangent premise that developing a surf industry in these markets will positively affect at-risk youth.
Thesis: Developing the surf industry in emerging markets will foster economic prosperity, build long-term brand rapport and service at-risk youth.
Emerging Markets
Emerging Market Economies (EMEs) are typified by considerable currency and political risk, market inefficiencies, capital flow restrictions, information barriers, and low to middle per capita income when compared with more industrialized nations (Errunza). However EME’s are considered to be fast-growing economies, typified by low to middle per capita income. EME’s are characterized as transitional, meaning they are in the process of instituting economic reforms that will allow them to move from a closed-economy to an open market economy. These markets are developing new infrastructure that can service economic growth and support employment, and “emerge” on the global economic scene. The new reforms and policies of EME’s are meant to establish accountability, transparency, and efficiency in capital markets; lowering systematic
Abstract 2
Emerging Markets 2
State of the Surf Industry 4
Barriers to Entry 6
Drivers of Surf Economy 8
Development of Surf Industry in Emerging Market 8
Case Analysis: Sri Lanka 10
Drivers of Surf Industry Development 12
Social Cultural Impacts and at-risk youth 13
Conclusion 15
Abstract This paper will explore the concept of emerging markets, and the profit potential of multinational enterprises when entering these developing economies. In particular the potential for the surf industry to exploit new niches in these countries, tailoring their product to low-income per capita demographics. Integrating the surf industry and tourism into these markets while cultivating the economies and infrastructure of appropriate regions will enforce goodwill. This paper will also discuss the tangent premise that developing a surf industry in these markets will positively affect at-risk youth.
Thesis: Developing the surf industry in emerging markets will foster economic prosperity, build long-term brand rapport and service at-risk youth.
Emerging Markets
Emerging Market Economies (EMEs) are typified by considerable currency and political risk, market inefficiencies, capital flow restrictions, information barriers, and low to middle per capita income when compared with more industrialized nations (Errunza). However EME’s are considered to be fast-growing economies, typified by low to middle per capita income. EME’s are characterized as transitional, meaning they are in the process of instituting economic reforms that will allow them to move from a closed-economy to an open market economy. These markets are developing new infrastructure that can service economic growth and support employment, and “emerge” on the global economic scene. The new reforms and policies of EME’s are meant to establish accountability, transparency, and efficiency in capital markets; lowering systematic