The emerging economies of the BRIC countries (Brazil, Russia, India, and China) present a viable market for the growth of corporate training. These countries account for 40% of the total world population, and their combined economies are set to overtake the economies of the richest countries in the world within the next 40 years. As these economies grow, the number of jobs will increase, bringing about the need for more corporate training.
More businesses = more jobs = more training opportunities
While each country has growth in different business sectors, they all share significant growth of large corporations. In Fortune’s Global 500 ranking of the world’s largest corporations in 2010/2011, Brazil and Russia each had 7 companies on the list, while India had 8, and China had 61. These numbers are up compared to 2005, when Brazil and Russia each had 3 companies on the list, India had 5, and China had 16.
Additionally, as large, multinational corporations move their operations to the BRIC regions, the demand for corporate training naturally follows. There will be a need for job skills training for everything from call centers to factories.
Widespread consumption of digital media is great for eLearning
Countries with established digital infrastructure are able to readily adopt eLearning as their preferred mode of training delivery. eLearning provides the advantages of being able to reach a global audience, having the potential for reuse, and dramatically reducing the costs associated with traditional training modes.
The following Nielsen report shows that the BRIC countries are shifting to digital media consumption faster than western countries. As digital media becomes the norm, the digital classroom will also become more widespread.
Having the combined advantage of being open and inviting to new business along with a strong technological infrastructure, the BRIC countries are a significant market for growth in the corporate eLearning space.