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Geographical region for global institutional and marketing planning From Wikipedia, the free encyclopedia
Europe, the Middle East and Africa, commonly known by its acronym EMEA among the North American business spheres, is a geographical region used by institutions, governments and global spheres of marketing, media and business when referring to this region. The acronym EMEA is a shorthand way of referencing the two continents (Africa and Europe) and the Middle Eastern sub-continent all at once.
As the name suggests, the region includes all of the countries found on the continents of Africa and Europe, as well as the countries that make up the Middle East. The region is generally accepted to include all European nations and all African nations, and extends east to Iran, including part of Russia. Typically, the acronym does not include overseas territories of mainland countries in the region, such as French Guiana. However, the term is not completely clear, and while it usually refers to Europe, the Middle East and Africa, it is not uncommon for businesses and other institutions to slightly tweak the countries they include under this umbrella term.
One of the reasons why the term is commonly used is because it is useful for business purposes, as most of the region falls within four time zones, which facilitates communication and travel.[1]
The related term "EAA" refers to "Europe, Africa, and Asia".[2]
The historical influence and interdependence of Europe on the Middle East and Africa in relation to trade routes contributed to the development of the term EMEA.[3] The establishment of the Suez Canal in 1869 impacted international commerce.[4] It directly linked Europe to the Indian Ocean and East Asian trade routes.[4] The direct channel between Britain and India enabled Britain to gradually gain authority over Egypt.[3] This authority was reinforced via the development and maintenance of the Pax Britannica which gave Britain naval power and control over the world's maritime trade routes during the late nineteenth century period of peace.[5]
The EMEA region generally includes:
The World Bank's April 2024 update indicates that the growth rate for the Europe, Middle-East and African region, is expected to slightly increase to 4.6% in 2024, up from 4.4% in 2023. This underscores a diverse economic resilience against global pressures. Meanwhile, global trade growth, which was minimal at 0.2% in 2023, is projected to improve to 2.3% in 2024, crucial for the region's export-oriented economies. However, private investment remains below pre-pandemic levels due to higher debt levels and rising interest rates, signaling a cautious investment climate. The region faces significant challenges from both external factors, such as high core inflation and modest global trade recovery, and domestic issues like increased debt and political uncertainties, potentially hindering economic growth. Additionally, a hypothetical 1% decline in GDP growth in the US or China could reduce GDP growth in other developing Europe, Middle-East and African economies by approximately 0.5% and 0.3%, respectively. The increase in trade-distorting measures, which have tripled since 2019 among G-20 countries, reflects a trend towards protective industrial policies, although other European, Middle-Eastern, and African countries, except for the Big Four, South Africa, Russia, Turkey and Saudi Arabia, have been less involved in these measures.
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