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3 international investing plays

When it comes to investing abroad, Goldman Sachs is looking for opportunities at the individual company level, an expert told CNBC.

"When people ask about emerging markets, 'How's it going to do?' it's kind of like asking, 'What is the weather in the world going to be?' because there's so many different spots in emerging around the world," Katie Koch, head of global portfolio solutions international at Goldman Sachs Asset Management, told CNBC's "Closing Bell."

To narrow it down, Koch used some "informed caution" to determine three investment picks around the globe.

1. Consumers in emerging markets

Brent crude oil prices hit their lowest in more than 11 years on Monday, while U.S. crude flirted with seven-year lows. And while oil-related sectors might be feeling the pain, the global consumer could come out a winner, Koch said.

"Discriminating is going to be very important," Koch said. "Because it's not just about getting long the consumer, it's about anticipating spending patterns."

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2. Chinese tourists

Slowing economic growth in China has eyes locked on the Asian mega-economy: Just last week, Fitch ratings agency warned that a sharp slowdown in China's GDP growth rate to 2.3 percent during 2016-18 "would disrupt global trade and hinder growth, with significant knock-on effects for emerging markets and global corporates. In turn, this would keep short-term interest rates and commodity prices lower for longer."

But Koch is watching China for a different reason: because countries are befitting from China's export of tourism to other parts of the world.

"Japan's a big beneficiary of this," Koch said. "Tourism to Japan is up 50 percent this year — 100 percent increase in Chinese tourism."

Read MoreChina 'shock' growth scenario: Fitch warns of ripple effects

2. European companies

Though the euro has been weak against the U.S. dollar, European companies that are spending domestically, such as toll roads, auto companies and even tire makers, could be a bright spot, according to Koch.

Goldman has exposure to Michelin Tires to bank on the trend of increasing European auto sales, Koch said.

"We still see a lot of opportunity at the individual company and stock level," Koch said.

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— Reuters contributed to this report.