Bill Mann is right when he says there will be money to be made in the Middle East and Africa, but he's also right when he highlights how easy it is to follow the region because of the limited number of ADR investment opportunities. Therein lies the problem. There will be opportunities, but there won't be many to choose from, and those that are available may not be the best.

A quick check of the ADR universe shows nine companies from Israel, 10 from South Africa, and one from Turkey listed on the NYSE or Nasdaq. That's a total of 20 opportunities for the whole region. By comparison, Japan has 30 companies listed, Australia and Korea each have more than a dozen, and Singapore and New Zealand combine for a handful more. The data show that you'll find a niche player or two in Africa and the Middle East, but you'll need to look toward developed Asia to really fill out your portfolio. Ten or 12 years from now, things might be different, but this is World Cup 2006, and I have to say that for now, developed Asia comes out on top.

Developed Asia is facing Africa and the Middle East in this Investing World Cup match. Go back to the intro page to navigate your way to another part of this contest, and then vote for the region that you think should advance to the next round of the tournament.

For more international stock ideas, check out The Motley Fool International Report: Around the World in 80 Minutes.

At the time of publication, Nathan Parmelee had no financial interest in any of the companies mentioned.

This article represents the opinion of one Fool and should in no way be taken as the opinion of either The Motley Fool, Inc., or the company in question, or as representative of anyone or anything other than that specific Fool's thoughts. So before buying, do your homework and review The Motley Fool's superbly sportsmanlike disclosure policy.