The term emerging market is today used to describe more or less all developing countries. Developing countries are those with a Gross National Income (GNI) per capita of $9,265 or less.

(The World Bank classifies economies as low-income (GNI $755 or less), middle-income (GNI $756 to 9,265) and high-income (GNI $9,266 or more). Low-income and middle-income economies are sometimes referred to as developing countries. Reference: Global Economic Prospects and the Developing Countries, World Bank, 2002.)