Southeast Asia is the one region you cannot overlook for new business opportunities. This is the place whose Internet economy has already hit $100 billion and will continue its ascend at an unprecedented rate. With so many diverse activities taking place, fuelled by consumers’ newfound interests, especially in e-Commerce and Ride-Hailing sector of the industry, it is expected that the Internet economy of the region is to reach $300 billion in the near future. There are still tons of space for newcomers to grow and shine in this market with new businesses, innovation, and technology. At the upcoming Corporate Innovation Summit in Thailand, we’ll be showcasing you of what’s possible for the region, and the potential for corporations and individuals to innovate and expand into this dynamic market.
First, however, we’ll explore some of the major trends and developments that make Southeast Asia such a dynamic region for business.
The Asian Century
In 2020, Asia’s combined economies will be larger than the rest of the world combined. The region will have 21 of the largest 30 cities in the world, being home to half of the world’s middle class, with purchasing power rivaling developed economies, and many of its nations will climb their way up to becoming amongst the largest economies in the world themselves. Just as how the 20th century can be said to belong to the United States, the 21st century truly is poised to become The Asian Century.
Economy, Technology, and the Internet on the Rise
There are several reasons that the economic future of Southeast Asia is promising. It’s an exciting time for technology and internet companies as more people and businesses get online and embrace mobile devices. ASEAN Up’s Overview of Business in Southeast Asia published some important figures about population and internet usage:
These numbers are all rising quickly as more people in these nations get internet access and purchase devices. It’s not surprising that some of the fastest-growing companies in Southeast Asia are in the internet and tech sectors. What’s more, the potential for expanding user base isn’t limited to just Metropolitan areas either, but could grow twice as fast outside of urban areas, expanding market value, as well as allowing innovative startups and corporations to come with novel and exciting ideas to satiate the demands of these new and aspiring demographics.
Benefits and Challenges of Doing Business in Southeast Asia
For all the aforementioned factors, Southeast Asia represents attractive opportunities for businesses around the world. Here are some key points to consider:
Develop Your Southeast Asian Network at the Corporate Innovation Summit
Striking out on your own and conducting research into doing business here in South East Asia is one thing, but there is nothing quite like having formed a connection to people that can propel you to a greater height. Here, Corporate Innovation Summit offers you 3 days of unmatched networking opportunities: from rubbing shoulders with CEOs, to exchanging ideas and learning from the movers and shakers, and finding potential investors and partners, all in one place.
Corporate Innovation Summit takes place from 15 - 17 September 2020 in Bangkok, Thailand. It is Asia’s largest experiential conference, offering more than 240 hands-on workshops, over 200 world-class speakers, and more than 450 startup showcases, as well as getting you onto the latest of insider information about the most up-to-date business developments of Southeast Asia. While many topics will be covered, the emphasis will be on 5 key themes:
Learn more about Corporate Innovation Summit 2020 and book your reservation now for the early-bird rate.