Emerging markets dominates Capital Intensity chart
The emerging markets have recorded higher Capital Intensity (CAPEX as % of revenues) compared to the developed markets. The data from Ovum shows that the trend has been similar since they started tracking it in 2008. The top 10 countries that are expected to have the highest intensity in the next five years are; Kenya, Nigeria, China, Indonesia, Colombia, Pakistan, Bangladesh, Philippines, Belgium and Russia while the bottom 10 are; United Kingdom, Israel, New Zealand, Spain, Finland, United Arab Emirates, Sweden, Singapore, Denmark and Hong Kong. The highest intensity is Kenya which is estimated to spend 25% of the revenue for CAPEX in 2019 up 15.3 percentage points from 9.7% in 2008.