Opportunities in Emerging Markets: Africa, Southeast Asia and Latin America

Many of the world's fastest-growing consumer markets are in Africa, Southeast Asia and Latin America. For growing brands, emerging market opportunities can mean less competition, rapidly rising demand and customers eager for new products and services. They also bring distinct risks. Here's how to evaluate and approach them.

This guide is part of our international expansion series.

Why emerging markets attract brands

• Young, growing populations
• Rising middle classes with new spending power
• Mobile-first consumers, often skipping desktop entirely
• Less saturated competition in many categories
• Diaspora connections in Canada that bridge markets
• Trade frameworks such as the African Continental Free Trade Area (AfCFTA) and regional agreements in Asia and Latin America

Regions at a glance

Region	Opportunities	Considerations
Africa	Young population, mobile money, growing digital and creative industries	Diverse markets, infrastructure, currency (entering African markets)
Southeast Asia	Large digital economies, strong e-commerce and super-apps	Language diversity, intense competition in some sectors (expanding to Asia)
Latin America	Social media engagement, growing e-commerce	Currency and regulatory variation

Every country is different; treat each as its own market.

Assessing risk

Score each market on:

• Political and regulatory stability
• Currency volatility and ability to repatriate funds
• Payment infrastructure
• Logistics and delivery
• Legal enforceability of contracts
• Intellectual property protection
• Corruption risk and compliance obligations (Canadian companies must comply with Canada's anti-bribery laws abroad)

Export Development Canada and the Trade Commissioner Service offer market and risk insights.

Marketing in emerging markets

• Mobile first: fast, light websites; mobile payments; SMS and messaging apps
• Radio still matters in many markets for reach and trust (radio advertising principles)
• Social and creators: high engagement on popular platforms (international influencers)
• Word of mouth and community: referrals and local partners (referral marketing)
• Local languages where relevant (multilingual marketing)
• Price and value matched to local purchasing power

Entry strategies

1. Partner locally: distributors, agents, joint ventures (local partners)
2. Start digital: test demand with online sales or services
3. Leverage diaspora networks for early customers and advisors
4. Pilot in one city, often a commercial hub
5. Scale regionally using trade agreements

Build trust early

Local testimonials, partners, media coverage and visible customer support matter even more in markets where new brands face scepticism. See building trust in a new market.

Questions to ask before choosing an emerging market

1. Is there proven demand for our category, or are we creating it?
2. Can customers pay the way they prefer, and can we receive funds reliably?
3. Can we deliver and support customers affordably?
4. Who are the trusted local partners in our industry?
5. What would a small pilot cost, and what result would justify scaling?

Be patient and adaptable

Plans often need adjusting as you learn. Set clear milestones, review often, and be ready to change channels, pricing or partners. See common expansion mistakes.