Future markets – 2025 update

The volatile global situation, the stagnation of globalisation and the faltering multilateral world economic order are hampering international economic exchange. This poses major challenges for local export-oriented companies: they remain dependent on foreign business, as the growth potential in the German domestic market – and in Europe – is limited.

Against this backdrop, countries that are geopolitically open to Germany and Europe and grant German companies good market access are becoming increasingly attractive. Building on previous studies, this study focuses on growth markets outside Europe. We carried out the study on behalf of the vbw – Association of the Bavarian Economy.

Growth potential despite a volatile global situation

The study shows that, despite the gloomy external economic environment, there is growth potential in the right overseas markets. This applies in particular to markets and regions where stable external economic conditions prevail. Greater exploitation of such markets can help companies reduce their dependence on individual markets fraught with uncertainty, such as the US and China, and tap into the growth potential of markets that have so far been little explored.

Promising sales markets

The study identifies the following promising growth markets:

• Highly developed economies with which the EU has concluded a free trade agreement: Canada, Japan, South Korea and, in the future, Australia offer a high degree of institutional and economic stability. Furthermore, due to their high standard of living, they exhibit strong demand for high-quality products and technologies. A shared understanding of values, transparent regulations and existing trade agreements facilitate market entry and offer long-term potential for cooperation – for example, in research, education and sustainable development.
• Asian emerging economies: Vietnam, Indonesia and India are among the world’s fastest-growing economies. They are characterised by a young population, rising consumer spending and ambitious infrastructure projects. Bavarian companies can benefit here from the growing demand for industrial equipment, mobility solutions and green technology. At the same time, entering these markets requires careful adaptation to local conditions.
• Potential markets in Latin America: Although Latin America generally exhibits weaker growth momentum and a less stable institutional framework compared with Asia, Latin American countries score highly in terms of a higher standard of living and abundant natural resources, thereby offering attractive conditions for exports and investment. Furthermore, German companies often have a stronger market presence in Latin America than in Asia. The EU has been linked to countries such as Mexico, Colombia and Chile for years through free trade agreements. Trade with Brazil and Argentina is likely to become significantly more attractive for Bavarian companies following the expected imminent entry into force of the EU–Mercosur Free Trade Agreement.

Our approach

We have examined 13 foreign markets in detail and assessed their attractiveness as investment destinations and their sales potential. In the first part, we provide data and sources on the framework conditions in the individual potential markets (macroeconomy and demographics, institutional framework, foreign trade and political conditions). The second part uses qualitative and quantitative methods to provide a more detailed insight into five selected product groups.

The information in the individual factsheets is based on the one hand on forecast data from the Prognos World Economy Model VIEW, data from the Prognos Global Trade Model, and available official statistics. Furthermore, qualitative information on the individual high-potential markets – such as that provided by Germany Trade & Invest or the Chambers of Commerce Abroad – was analysed through desk research.

Links and downloads

To the study (PDF, in German)

Further information on the vbw website (in German)

To the previous study

Project team: Silvia Golm, Miriam Lovis, Johann Weiss, Eva Willer

Last updated: 06.11.2025