NEW YORK ( TheStreet) -- As the U.S. and most developed countries struggle to get out of the global recession, many investors have switched to emerging markets such as Brazil, Russia, India and China and the BRIC countries.

But there are other opportunities. South Africa, for instance, is known for its mining and production of precious metals and as long as the dollar remains weak and investors worry about inflation, precious metals will remain a hot commodity.

To further boost its appeal, South Africa's government has implemented a spending restraint which has enabled its currency to remain relatively strong and its debt ratios favorable. The easiest way to gain exposure to the nation is through the iShares MSCI South Africa Index ETF ( EZA).

Another opportunity lies in Eastern Europe and the emerging nation of Turkey. The country is attractive because its consumer confidence levels are rising, it has a relatively young workforce, it boasts a thriving manufacturing sector and it has a promising financial sector which has been boosted by the increase in consumer and business lending.

In addition, the Turkish government is doing everything it can to meet all the requirements and be accepted by the European Union. Gaining exposure to Turkey can be done through the iShares MSCI Turkey Invest Mkt Idx ( TUR).

Mexico, which has undergone a huge fiscal face lift, is drawing investor interest, too. The emerging nation recently recorded a record foreign currency reserve and an investment grade debt rating. In addition, its ties to large U.S. companies, like Wal Mart ( WMT), lowers risk factors. Mexico can be accessed through the iShares MSCI Mexico Invest Mkt Idx ( EWW).

Finally, South Korea is attractive for many reasons. First, it will indirectly reap the benefits of its strong ties with China, which remains a global economic powerhouse. Secondly, it recently announced a trade agreement with the European Union and is in talks with the Obama administration to form a similar agreement with the U.S.

Thirdly, South Korea has boasted a double-digit growth rate in industrial production, a big part of the nation's GDP. Lastly, the nation is near full employment. The iShares MSCI South Korea ( EWY) is a good way to play this market.

A notable mention which will enable one exposure to some of these markets without a specific county-focus, while adding a bit more diversification is the Dow Jones Emerging Markets Composite Titan Index Fund ( EEG). EEG gives exposure to South Africa and Mexico, in addition to the BRIC nations.

Although these nations and ETFs show several signs of prosperity, keep in mind that they come with inherent risks, lack of liquidity being one of the biggest. Implementing an exit strategy, like one found at can help mitigate these risks.

-- Written By Kevin Grewal in Laguna Niguel, Calif.
At the time of publication Grewal did not have positons in any equities mentioned. Kevin Grewal serves as the editorial director and research analyst at The ETF Institute, which is the only independent organization providing financial professionals with certification, education, and training pertaining to exchange-traded funds (ETFs). Additionally, he serves as the editorial director at where he focuses on mitigating risks and implementing exit strategies to preserve equity. Prior to this, Grewal was an analyst at a small hedge fund where he constructed portfolios dealing with stock lending, exchange-traded funds, arbitrage mechanisms and alternative investments. He is an expert at dealing with ETFs and holds a bachelor's degree from the University of California along with a MBA from the California State University, Fullerton.