It is not surprising to know that companies in Ireland can actually create 13,000 job opportunities. This is if they focus on new markets, according to a recent report.
A survey was done on 151 Irish executives and the Accenture and The Economist Intelligence Unit drew up a conclusion that almost all companies those executives represent are expected to expand in the next few years as they target wealthier consumers located in Asia as well as other new markets.
The findings complement the changing consumer trends on the international level. Because of this, the results of the survey predict that there will be 10% increase of job opportunities in their firms, which is equivalent to 13,000 vacancies.
The emerging market economies in 2013 will form over 50% of the world economy by 2013 and Asia will take up 28% of the global consumers. And by 2030, this figure will increase up to 66% of the global consumers.
What Ireland must do is take full advantage of this opportunity given by the shifting global trends to the highest degree they can. The time is right to invest in industries like mobility, cloud and analytics to cater to the needs of the constantly changing consumers otherwise we will lag behind.
To take full advantage of the ever changing consumers and markets as well as the potential they offer, Ireland must start developing skills such as languages, analytics, technology and more importantly international business skills.
One of the most important elements in specific international trends is the emerging consumer, which 42% of Irish respondents have ranked it as one of the top. India was considered to be one of the emerging markets within the next few years and China comes close behind.
Approximately 20% of all respondents state that their company will increase investment in these areas for up to 10%. Around 33% of the respondents planned on placing over 50% of their investment within the next few years.