The Benefits of Living and Working in APAC
By Rachel Jones | Operations Manager at ECOM Digital Ltd
Lets face it; relocating both yourself and your business to a different location is no easy feat to accomplish - especially if you are taking yourself over-seas to the Asia and Pacific region. It can take some time for you to adjust and expats can be forgiven for spending a lot of time comparing their new location to their home country. But, if you focus on the positives and less on the negatives, adjusting to living in the APAC region will become a lot easier. Here, weve put together the top 3 benefits of relocating
1. Business is booming
If there are economic conditions in your home country that are making expansion, growth and development difficult, taking advantage of a different countrys economy will help you to experience new growth and income. Hong Kong, for instance, has often proved to be particularly resilient during an economic crisis. Even during a weak and unstable global economic recovery, when the UKs finance was scrutinised, the economy of Hong Kong grew steadily in 2013. In addition, ranking second globally and first in the APAC region in the 2-14/2015 Global Competitiveness Report from the World Economic Forum, Singapore has performed outstandingly for a number of years, demonstrating a rare level of economic stability.
2. Favoured by expats
Findings reported by the Daily Inquirer (Philippines) found that even though there is a higher cost of living, expatriates based in the APAC region (specifically Singapore) said they were happy with their well-being, safety, family life and health. Furthermore, 80% of 14,000 respondents said they had earned more since moving to the region and 70% said that they had saved more.
3. Growth and expansion
Research has shown that for businesses looking to outsource overseas, Asian countries dominate. In AT Kearney's 2014 Global Services Location Index, six countries in Asia are in the top ten global locations for business services locations. Meanwhile, India has been ranked top for the last ten years, thanks to its large size, its number of skilled people and its evolving service portfolio. China and Malaysia are close contenders, followed by Indonesia, Thailand and the Philippines. Bangladesh and Sri Lanka are also starting to make an impact on the global market.
Expanding overseas is an exciting step for any business but it can also be a difficult move to make. By doing the background research on your market and putting systems in place to make the shift as easy as possible at every stage of the journey, you will significantly increase your chances of international success.
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