CIVETS

CIVETS refers to Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa. This acronym has been coined by Robert Ward, Global Forecasting Director for the Economist Intelligence Unit (EIU) for favored emerging markets in 2009. Please note that the same term was made famous by HSBC’s chief executive Michael Geoghegan. These countries are favored for several reasons, such as a dynamic and diverse economy and a young growing population (demographic dividend). These countries are also known as “the new BRICS” because of the potential that they have as second generation emerging economies.