Fast rising corporations from the developing world may become some of the most important players in the global economy, says the Boston Consulting Group (BCG).

A BCG study said companies from emerging economies (referred to as global challengers) are outpacing corporations in developed countries in terms of growth, job creation and productivity.

Global challengers grew at an annual average of 16% from 2008 through 2011, which was four times the rate of their competitors in developed countries. Their average revenue was $26.5 billion in 2011.

“They are the companies that will shape the global economy over the next decade,” according to the report.

Aircraft manufacturing, medical devices, cell phones and e-commerce are some of the key industries impacted by global challengers.

At one time global challengers were largely from China and India.

But now the list includes enterprises from 17 emerging nations, such as Brazil aircraft manufacturer Embraer, Indonesia’s Golden Agri-Resources, Malaysia oil and gas company Petronas, and Mexico mobile telephone operator America Movil.

Although Western multinationals view these companies as competitors, they increasingly find that it is profitable to engage in partnerships with them.

-Noel Brinkerhoff

To Learn More:

Study: Companies from Emerging Markets Will Shape Global Economy in Next Decade (Agence France-Presse)

Introducing the 2013 BCG Global Challengers (by Arindam Bhattacharya, Thomas Bradtke, Tenbite Ermias, Whitney Haring-Smith, David Lee, Eduardo Leon, Michael Meyer, David C. Michael, Andrew Tratz, Masao Ukon, and Bernd Waltermann; Boston Consulting Group)

Massive Layoffs Around the World (AllGov)

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