Investing in frontier markets can come with a higher degree of volatility than more established markets, but to my team and me, they offer exciting potential. Some of yesterday’s small, agrarian economies have transformed themselves into global powers today—China being the most impressive example. China represents the second-largest economy in the world today, depending on how you crunch the numbers, and it has been incredible to see the changes taking place there in my lifetime. It got me thinking about economies that were viewed as largely untouchable or risky for investors and travelers even just a few years ago, but that today are being discussed as interesting potential destinations for both.
Here are some examples fromrecent history of countries that were shunned or out of favor in the international community at large, but have undergone big transformations. This includes some emerging and frontier markets that are currently of great interest to us, and countries we are not yet investing in, but that are opening up to investors. Continue Reading »