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The most important part of this section is an overview of the ten drivers of growth. These drivers are the factors that will have a significant impact on the short-term and – more importantly – the long-term future of many of these countries. You should note that as the countries profiled throughout this book are examined, it becomes clear that not all emerging markets are the same. Drivers in some countries are actually the detractors in other countries.

For example, one of the drivers examined is demographics. Demographics for countries such as India and Indonesia show a young and growing population that can truly be a positive force and therefore a major driver of future growth. On the opposite end of the spectrum, Russia’s aging population means its demographics are likely to be a detractor.

Another possible driver/detractor is institutional functioning and governance (although proper institutional functioning and governance are a challenge for all emerging economies). Some countries, such as Indonesia and Chile, have remarkably improved their governance and institutional functioning; for South Africa and India, however, this continues to be a detractor.

The ten drivers are used to assess the trends present in these countries: from fiscal conditions and environmental rankings to political freedom and ease/accessibility of starting a business, and many others.