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Finance Expert: Emerging Markets Set to Dominate 2010
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Domestic demand has grown considerably more in emerging markets than in developed markets, and this trend will continue in the future. Photo by BGNES
Kurt Kotzegger, CIO for equities and asset allocation at Raiffeisen Capital Management, has predicted that emerging markets will blossom in 2010, leaving developed markets in their wake.
Domestic demand has grown considerably more in emerging markets than in developed markets, and this trend will continue in the future. Export data also served positive surprises, as the total volume of exports to emerging markets is very slightly below the 2008 peak, Kotzegger’s analysis states.
"The position of fund managers shows developing countries as firm favorites for 2010," Kotzegger added.
According to him "from a global perspective emerging markets will be the engine of recovery: their position as net creditor, and their partially autonomous growth, combined with moderate portfolio inflows, are promising factors for positive development."
Kotzegger concluded that the 2010 forecast for GDP of developing countries had been revised upwards, and expectations are for a growth of 5-7%.
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