Figure 4 - Share of global GDP (%): emerging and developed economies

An important trend that has the potential to impact Ballarat ICT is the rise of the developing and transitional economies - China, India, Brazil, etc. Figure 4 illustrates the growing strength of this group of countries - the forecast is that by 2025 they will control 72 percent of world GDP, from 51 percent in 2005. These economies will be important export markets in the future, as well as major competitors for ICT investment. India has already demonstrated its potential and the Chinese IT industry is growing rapidly. Ballarat ICT strategy needs to recognise the power and potential of this group of countries.