Savvy investors know there is far more to the markets than sitting on your hands worrying about the fiscal cliff.

Believe it or not the world doesn't revolve around the United States-or the Western world.

In fact, The IMF's World Economic Outlook projects an emerging markets forecast with growth at 5.6% in 2013. That's down slightly from 2011 but far ahead of the measly 1.5% growth projected in the "advanced" economies.

That means investors need to focus heavily their investments in emerging markets, as we have done successfully over the past few years.

However, there's one new trick investors will have to learn going into 2013: the BRIC economies (Brazil, Russia, India and China) that have been so fashionable over the years, will all run into trouble next year and should be avoided.

The good news is the world is a big place and there are still emerging markets that offer investors the benefit of the world's fastest economic growth. My favorites are listed below.