Asia is home to more than 4.5 billion people, implying that it is the most populous continent on the globe. Simply put, it hosts 2/3 of the world’s population. Over the last few decades, Asia has experienced an impressive tech boom and its economies are very stable. Already, the GDP growth of most nations in Asia is higher than those of western states, but it is the prediction that the entire Asian economy will be larger than the rest of the globe combined that is making investors develop more interest. If you decide it is time for business expansion in APAC, here are some of the key benefits to anticipate.
Spectacular Economic Growth
Over the last sixty years, Asia has become the center for innovative and fast-moving enterprises. Indeed, the region’s growth has been faster than any other parts on the globe. Sure, the growth has not been even in the entire continent. The eastern part of the continent, especially China, South Korea, Singapore, Taiwan, Thailand, and Hong Kong, has done impressively better than the rest. Others, such as Myanmar, Loos, and Cambodia are now emerging.
According to the recent forecasts, the entire Asian economy is expected to add about 60% to global growth by 2030. Of this 60%, the bulk of it will come from a few nations, especially China, India, and the Association of South-East Asian Nations (ASEAN). If you have a company and want to take advantage of this exponential growth, it will be an excellent time to consider business expansion in APAC.
A Very Large Consumer Market
Another attribute that makes Asia stand out is its large population. Many companies looking forward to expanding to Asia are interested in accessing and using this large market. For example, China alone has more than 1.4 billion people, and most companies find more than enough to grow sales and profits. So, whether you are dealing with industrial products, agricultural-related products, or consumer goods, rest assured there is enough of a market in APAC.
If you want to grow your brand even faster, most of these markets have also signed bilateral trade agreements with other nations in Europe, America, and Europe. For example, the Canada-China Promotion and Reciprocal Protection of Investments Agreement makes it easy for companies in China to access the Canadian market. It is correct to say that once you are through with business expansion in APAC, it will be a stepping stone to access the global market.
An Excellent Hub for Start-Ups
If you look at some of the top brands in Asia, they started as small start-ups and rapidly grew into multinationals. The administrations of these markets, from Hong Kong to China, have discovered that business success in their jurisdictions means economic success. For example, the Singapore administration started the Startup SG for entrepreneurs to get access to funding and credibility enhancement. So, whether you are looking for tech startup support, linking with potential investors, or simply incubating your ideas, APAC will come in handy.
These are only a few of the benefits to anticipate when considering business expansion in APAC. Others include diverse growth opportunities, highly educated workforce, and stability. To take advantage of these benefits, you will need to start by registering your company in APAC. For most investors, this is challenging because of the logistics involved. For example, the process of registering a company in China can be complex because it involves preparing a lot of documents and dealing with multiple offices.
The best way to go about business registration for expanding your business to company APAC is working with an agency of experts. They understand ASIA-Pacific very well and have helped other companies to register. Indeed, they help to make the process simple, fast and will even assist with strategy formulation.