• by Jason Popp , Op-Ed Contributor, October 13, 2015

In 2015, according to eMarketer, advertisers across the globe are estimated to spend just under $600 billion, an increase of 6% from the previous year. The U.S. remains the central advertising market worldwide, followed by China, Japan, Germany, and the U.K.

For many of us marketers, this is no surprise. I’ve seen many companies throw their marketing dollars into these traditionally well-served rings. I can’t blame them. In doing so, they’re able to capitalize on a number of economic factors, from market size to rapid changes in exchange rates to standard of living to even oil prices. 

Take Germany, for example. According to Target Marketing, it’s one of the biggest growth markets due to a variety of foreign direct marketers in different industries such as charities, financial services, publishing, and mail order. With a population of 82 million and more than 38 million households, Germany is the biggest European country, offering advertisers a huge array of possible buyers. What’s more, the residents of Germany enjoy a high standard of living, which makes targeting these consumers a proverbial gold mine.

But the world is vast, and I’ve also found there are many countries that have yet to garner the attention they truly deserve — creating a rich vein of opportunity for those willing to explore. Here are four underserved markets that I think marketers should be tapping into:

1. Indonesia

According to Euromonitor International, Indonesia’s consumer market is set to surpass South Korea’s by 2020. While the depreciation of the rupiah is damaging private consumption, and fuel subsidies are driving inflationary pressures, this doesn’t mean you should pass on the country. In 2013, unemployment fell to under 6%, and Indonesia is set to be the 14th-largest economy in the world by 2020. As a result, nearly 29 million households will have disposable incomes reaching more than $10,000, which places daily spending power around $30.

2. Thailand

Despite its political uncertainty and volatility, Thailand has a blossoming business environment. Thailand ranked No. 26 (out of 189 economies) in the World Bank’s Ease of Doing Business 2015 report. According to Euromonitor, it’s simpler to conduct business in Thailand than it is in Canada, Germany, and Japan. In 2013, it had an average consumer expenditure of about $17,000, and growth is expected to remain steady. 

3. The Philippines

In 2006, the Philippines and Denmark had consumer markets that were the same size. By 2012, however, the Philippines’ market had grown 23% larger. And it’s expected to increase by another 45% by 2020. Its economy profits from a robust outsourcing industry focused on business processing — a major driver of income growth. BPO employees have increased private consumption as a result. 

4. Malawi

According to a 2014 Euromonitor report, Malawi is the fastest-growing consumer market on the globe. The landlocked country is small — with a population of less than 17 million — but in 2014, its consumer spending was estimated to grow by 18.2%, and its total consumer expenditure was set to reach nearly $6 billion. According to the World Travel and Tourism Council, dropping oil prices in 2015 will lessen upward pressure on living costs and boost disposable household incomes, as well as domestic consumer spending. 

These four markets aren’t ones that marketers traditionally look to first when expanding globally, but I’ve found that by following the trajectory of the economic trends and government performance, you’ll find underserved markets just waiting to be tapped. 

Who knows? By looking outside your usual sphere, you may uncover a gold mine of opportunity.