BRIC was a term first used by Jim O'Neill of Goldman Sachs to describe a group of rapidly growing economies: Brazil, Russia, India and China. BRIC became BRICS when South Africa became a member in 2010. Today there is a debate about adding Indonesia to form the BRIICS.
In 2011, O'Neill targeted another group of big emerging markets for Goldman. He called this group MIST and it includes Mexico, Indonesia, South Korea and Turkey.
Other analysts have joined the naming game for emerging markets including a Morgan Stanley analyst who in 2014 coined the term 'Fragile Five.'