Some other tools similar to PESTEL Analysis used for analyzing emerging markets include SWOT Analysis, Porter's Five Forces, and the Ansoff Matrix. SWOT Analysis helps to identify the Strengths, Weaknesses, Opportunities, and Threats related to a business or project. Porter's Five Forces is a model that identifies and analyzes five competitive forces that shape every industry and helps determine an industry's weaknesses and strengths. The Ansoff Matrix is a strategic planning tool that provides a framework to help executives, senior managers, and marketers devise strategies for future growth.

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An organization can effectively track and analyze the macro-environmental factors of emerging markets by using tools like PESTEL Analysis. This tool helps in analyzing and tracking the macro-environmental factors that may impact a venture's performance. It's also critical to determine the Gross Domestic Product (GDP) of the emerging market, as it provides information about the size and health of the country's economy.

Social factors that influence the growth of emerging markets include cultural norms and values, population growth rates, age distribution, education levels, and social mobility. These factors can affect consumer behavior and demand, labor markets, and business practices, among other things.

The legal framework of a country can significantly impact its attractiveness as an emerging market. A strong legal framework provides stability and predictability, which are crucial for businesses. It ensures the protection of property rights, enforcement of contracts, and fair dispute resolution, which are essential for attracting foreign investments. Moreover, it also affects the ease of doing business, regulatory compliance, and overall business environment. However, a weak or unstable legal framework can deter investors due to the risks associated with legal uncertainties, corruption, and lack of enforcement.

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