Building on the foundation of the well-known BRIC countries -- Brazil, Russia, India and China -- a new set of up-and-coming emerging markets is gaining attention. The so-called "CIVETS" countries -- Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa -- are now touted as hot markets because they have diverse economies, fast-growing populations, relatively stable political environments and the potential to produce outsized returns in the future.
Far-flung geographically and shaped by vastly different cultural, religious and political structures, the CIVETS show the potential to develop rapidly and reward those willing to take on emerging market risk beyond the more-established BRIC countries, experts say.
