SINGAPORE (Reuters) - General Electric Co (GE.N) said on Monday that 2007 would be the first year when the company would earn more from its operations outside the United States, mainly because of strong revenue growth in emerging markets.
“This year is going to mark a very important year because it is the year when the sales of the company outside of the United States will be bigger than inside. It’s really the first time that it happens,” Ferdinando Beccalli-Falco, told Reuters in an interview in Singapore.
Beccalli-Falco, who heads GE’s international operations outside the US, said business in emerging markets was growing at more than twice the pace of developed markets and was likely to expand by 20 percent a year for the next several years.
“For us the growth in the emerging markets is twice, three times in some cases, the growth that is in the developed countries,” he said.
In July, Beccalli-Falco told reporters that he expected sales and profit growth of 30 to 40 percent in emerging countries over the next three to five years.