Nielsen Wire has an excellent analysis of the European Union and its role as the largest consumer market in the world. The following quote sums things up nicely:
"The EU is now a mega market with nearly 500 million inhabitants and an economy larger than the United States. Data from the Boston Consulting Group show that the new Europe has passed the U.S. in wealth and its GDP is nearly as large as the U.S. and China combined."
The article has lots of interesting data on European consumers and how their attitudes compare with US consumers.
China and India tend to be the focus of attention these days due to their robust economic growth and enormous potential. But it is important to remember that the European Union is and will continue to be the world's largest economy for the foreseeable future.
Unlike superstar markets elsewhere on the globe, sales to the EU over the past five years have not grown explosively. Nor, on the whole, have they swung erratically. Rather, growth can be characterized as steady and strong, even in the face of a European recession.
Posted by: aminosäuren | December 10, 2009 at 03:27 AM
The problem with the European market (from a suppliers point of view) is that it's still very fragmented. There are language differences, culture differences and capability differences.
Some of the barriers are being broken down - the Lisbon Treaty should accelerate this process - but there is still a long way to go.
Posted by: Pat | December 04, 2009 at 02:05 PM