emerging market

a market in a less developed country whose economy is just beginning to grow: emerging markets open to foreign investors.
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World English Dictionary
emerging market
a financial or consumer market in a newly developing country or former communist country

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Example sentences
The hot trade has been buying sovereign debt of emerging market countries, but
  risks are rising.
Some emerging market central bankers even argue that low inflation is neither
  necessary nor sufficient for financial stability.
Official and unofficial dollarization has continued in several emerging market
The position may require travel to emerging market regions.
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