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Business Opportunities in Asia
Asia has successfully gone through the hardest time ever concerning economics in the region and the condition of the countries. Many countries, in particular Korea and Japan, are going through a huge commerce surplus transcending even the crisis level at the beginning. It is obvious that Asia is reconstructing itself and for sure, there are certain possibilities and opportunities for the future growth in business and overall rapid success of Asia. Frankly, Asian regions contain approximately three-fourths of the entire world population. Therefore, concerning the facts given above, it is easy to conclude that the market there is definitely huge and there are many places for people to work and ultimately demonstrate their potential. As an example, despite an array of financial problems and disasters, Japan did not lose its position as the biggest creditor state in the whole world. Then, the paramount GNP growth is noticed in China, similar to which was in no country in Europe or the USA. In other words, there are a lot of splendid opportunities in the business sphere.
Moreover, nowadays people in Asia can easily realize themselves by doing and making different kinds of investments, as this type of doing business became more than just available. It is a great opportunity for people to become financially independent. Moreover, there could not be a better moment to start doing business in Asia.
The financial crisis in Asia has hopefully gone to its end and a lot of new flourishing opportunities became open for every personality, who is ready to change something to get a better house, care, and social position to provide the family with a high level of life and comfort. Furthermore, there is plenty of personalities, who are interested in making business by searching and finally making investments. Hopefully, by the information given in the various surveys, the economic situation in the Asian regions is going to advance; it has a high probability of improvement in the nearest future What is more, there is high growth in exports in the region.
Top Ten Destinations for Business Opportunities
- Hong Kong: having free trade and demonstrating rather low taxes, Hong Kong stays the most paramount business sector for years. Main factors, which show its stability and dynamics of growth are the cheap materials and labor in China. Besides, there is no need for a visa, which for certain makes the process of business relationships much better and easier;
- Singapore: again the country is growing because of the politics of the low taxes. Moreover, with no overstatement, Singapore can truly be named as the most rapidly growing economy in the whole world. Namely, banking became the most profitable business sector of Asia. Nowadays, many savings, even from the Swiss, are relocated in Singapore, as the most reliable bank today.
- Japan: talking about the world economy, it can be said that Japan is chasing the USA and China in the third place, concerning the size. Completely taking the lead over the competitors in the field, Japan’s major right to glorify is in the sphere of electronics. Besides, Japan is also known as the third biggest producer of cars in the world. For Australians, as an example, it is of paramount importance to have friendly relationships with Japan, as they are dependent on their exports. What is more, China remains the second-largest trading partner for Australia.
- South Korea: South Korea is a brilliant expert in the field of electronics. The state became quite successful and nowadays is flourishing due to the high development of this sector. Moreover, automobiles, for example, well-known Hyundai, are the leaders of the manufacturing industry, placing South Korea at the fifth stair as the biggest car producer in the whole world. High technologies have also made their start in this country. Furthermore, an international economic community is becoming very significant for the country and its citizens. It is the member of such organizations as APEC, OECD, WTO, and G20.
- China: is called the second biggest economy in the world after the USA. It is formally the most rapidly growing economy. China is Australia’s biggest associate in the trading industry. China is the main provider of goods, toys, electronics, and clothing to the Australian people.
- Vietnam: by the report by PricewaterhouseCoopers, Vietnam is one of the most rapidly growing economies in the world. Being known for its production of rice, Vietnam became one of the biggest exporters in the agricultural sphere in Asia. For example, its rice and other products can be easily seen all over the world, particularly in Asia.
- Malaysia: this country is known as the biggest Islamic financial and banking sector in the world. After the 1997 Asian economic crisis, Malaysia became one of the first countries, who felt financial instability in the state. Malaysia’s business culture demonstrates the blend of Chinese, Malay, and Indian customs, so there should be introduced the three major things, which every person, who wants to make a particular kind of business in the country, has to know:
- People should always be aware of the ways to save face and not to show any elements of defeat if things are going bad;
- The way women dress up for business affairs should not in any way offend the culture of Islam;
- One has to pass along a business card with both hands.
One more interesting thing is that while entering Malaysia, Australians should have no issues, having a 90-day visa-free period upon arrival. An APEC card does not assure faster processing through immigration.
- Indonesia remains one of the biggest economies in Southeast Asia and Australia’s biggest neighbor. After China and India Indonesia became the third most rapidly growing economy in the world in the G-20. However, Indonesia and Australia are not main trading associates; it would be significant to remember that approximately 60 percent of Australian exports go through the rivers of Indonesia on their way to the rest of the world. One execution divided by Australia and Indonesia was weathering the GFC better than the rest of the world, coming out ultimately safe.
- Thailand: the state was left trailing the Asian economic crisis of 1997, though they could make the economic situation in the state much better and, hopefully, can become the second-largest economy in their sector in Asia. As a tradition, trading associates of Thailand have been wealthy countries, for example, Japan, the USA, and others in Europe. What is more, Thailand has successfully made free trade agreements contriving to consulting agreements with Australia, India, and China, with essential conversations with the USA and Japan underway.
- Philippines: believing to the economic predictions, especially to Goldman Sachs, the Philippines will be the 14 largest economic countries in the world by 2050, as well as one of the Next Eleven economies. Moreover, HSBC states that the Philippines will become the fifth biggest economy in Asia and one of the biggest economies in Southeast Asia (Schratz, 2012).
Asia’s Growth Offers Numerous Opportunities
The market of Asia is growing at an enormous speed. It goes without saying that China is predicted to be the biggest economy in the world by 2020, and India is expected to place the fourth position on the world economic table by 2025. This growth will, for certain, provide many business opportunities for the organizations, whose aim is to achieve a foothold in Asia, and for the Asian organizations, whose goal is to export to the overseas markets.
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It is not a great surprise that namely Asia is deemed to have the main strategic growth market in the different spheres. It is because the Asian regions continue to advance day by day, providing considerable influence on the world scale.
Guidance when Expanding into Asia
Providing the considerable significance of the market of Asia, putting the investment in its area seems to be a rational step. However, it is essential to remember that the international playing sphere, in respect of Intellectual Property, is exclusively dominant and competitive.
Plenty of Asian Business Opportunities outside China and India
There are many business opportunities in Asia; though, the vast majority of people think only about such countries as India and China. However, the Philippines and Indonesia can also provide an array of other profitable opportunities for the people. Here are given some facts from Vancouver Sun, made by Fiona Anderson, which prove that the condition of Asia business opportunities is going to grow:
- ”Ballard was able to get into the Indonesian market by buying Oregon-based Ida tech, which had spent years doing just that;
- In August, Ballard received orders for more than 100 fuel cell power generation systems that will be used by two telecommunications providers in Indonesia;
- Right now, British Columbia exports little to Indonesia – in 2011 total exports amounted to $103 million, 75 percent of that in wood, wood products, pulp, and paper, according to Industry Canada”.
It is also said that Indonesia is one of the countries, whose potential is easily seen, and, besides, if everything would go well, this country has all the chances to become a member of a Top 10 Global Economies.
Attractive Business Opportunities in Asia for Market Expansion Services
At last, Asia became one of the most profitable markets in the universe, and Western companies seem to demonstrate a deep interest in common cooperation. However, time and time again people in Asia still face different challenges, as they search for further growth and expansion in this promising area of the world. Market expansion services offerings are presented typically to the connection with logistics, sales, marketing, and after-sales business procedures that need a lot of consumer cooperation.
Equity markets of China, South Korea, and Taiwan are the most favored ones. Both China and South Korea are trading at single-digit price-to-earnings ratios, while Taiwan will most likely have the highest earnings-per-share growth, of 23 percent, but from a low base in 2011 (Kolesnikov, 2012).
Talking about other points of interest in Asia, there can be named consumer discretionary and information technology industries. Furthermore, amid main Asian export products, tablet devices, cars, and smartphones are brilliant spots. Finally, the boom of technology is predicted to be in the nearest months, demonstrating main investment opportunities.
The English-speaking markets of Asia, for example, Australia/New Zealand (ANZ), Singapore and Southeast Asia (SEA), and Hong Kong set up business in a way similar to the Western countries and are comparatively outspoken for the clients to enter – with or without any advice. Here are the main points and overview of the business opportunities in the Asian sector and their influence on economics on the global scale:
- The real revenue opportunity for any company doing business in the Asia Pacific lies in the populous markets of China, Japan, and Korea;
- The sheer scale of the business opportunity in China is mind-boggling;
- Japan is the second-largest IT market in the world after the US and a voracious consumer of leading-edge technology and products from overseas;
- Korea is the heaviest user of the Internet in the world on a per capita basis (RTMA, 2013).
It is time, to sum up, everything mentioned above and talk a little about the future of the Asian sector in the world. Asian Economic Community (AEC) unique general market is supposed to function on the regional level of Asian countries by 2015. The major goal of this organization is to set up a competitive market of over 600 million people in the Asian area, for example, Cambodia, Laos, Brunei, Malaysia, the Philippines, Vietnam, Singapore, Thailand, and Indonesia. It is supposed to be a free supply of export, services, investment capital, and skilled labor considering the liberalization. It will comprise tariff lessening and streamlining of particular managerial methods. A vast majority of businesses have already begun giving a helping hand themselves by preparing three years ahead of the moment to rise to challenges and meet the new opportunities of the Asian Economic Community (AEC).
So, by AEC, a lot of regional interactions are expected to be opened in the nearest future; they will advance the total effectiveness, competitiveness, and dynamism of the Asian associates. Namely, this kind of organization will simplify the movement of investment, goods, services, people, and finally, the capital. Eventually, it will suggest additional methods of harmonizing supply chains, or access to the up-to-date markets for the prescribed goods.