The Boston Consulting Group (BCG) has announced the list of "rising global stars" for 2016. The number of Turkish companies on the list increased to five, with Pegasus Airlines becoming the latest Turkish brand to be considered a "rising star." Koç Holding, Sabancı Holding, Turkish Airlines and Yıldız Holding maintain their previous positions in the list. Despite the slowdown in macroeconomic growth, depreciation of commodity prices and currencies, collapse of markets and rise in geopolitical risks, successful companies in emerging markets are still growing rapidly and opening up to the world. The seventh "Global Challengers - 2016 Rising Global Stars" report published by BCG, one of the leading management consulting firms in the world, revealed the 100 largest companies that play for "global leadership" in emerging countries, including Turkey.
The 100 companies cited in the Rising Global Stars list come from 20 countries. A total of 15 companies entered the list this year. Also, three companies from China and the Philippines each entered the list, making the two countries the places with the greatest number of companies which are rising global stars. They were followed by Peru with two companies and Turkey, Brazil, India, Mexico, Malaysia, South Africa and Morocco with one company each.
According to the report, the rise of these companies, which come from emerging markets and challenge their rivals on a global scale, has been followed for more than 10 years. The companies that have risen over the past 10 years have become more successful and resistant to challenges. They grow on a scale basis and provide more returns to their stakeholders than their equivalents in developed markets.