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According to The World Bank, Asia is driving global growth and is expected to remain the most dynamic region past 2030. Representing almost two-thirds of the world's population and is characterized by large and growing conurbations. It is a region that is increasingly attracting strategic interest from the West to compete in these emerging markets and /or partnering with locals to realise the opportunities created by innovation in new markets.

It is critical to accept that in Doing Business in Asia, it is a region that cannot be averaged: culture, mentality, religion, social mores, market maturity, all demand an understanding of local nuances, while maintaining your own roots and approach to business and values.

There is an openness regarding that which is new. This is true for all age groups although the young might be a bit more experimental. There is a spirit of adventure in creating their future(s). There is also great aspiration for self-improvement and therefore creativity regarding living.

Beyond culture, other macro influences beyond the maturity and sophistication of the market influence doing business. A case in point sharp contrasts between India and China demand a distinct localised strategy. China is characterised by stronger state support and thus better organized, while India is institutionally weaker and less centralised. Therefore, China critically provides a more coherent ecosystem for entrepreneurship and innovation, despite the stated intent to boost entrepreneurship in India. That said, the ecosystems in China that are themselves mass markets, are unique to China.

Compared to the west and on any number of statistics, since 2010, both India and China have been economic success stories, critically improving their people’s standard of living. Going forward, one can envisage a different story with India outpacing China. The demographics of India are skewed much younger, so there will be a strong workforce and increasing consumer demand. Unlike China, this demographic profile will mean significantly lower social costs associated with supporting the retired, that can be deployed to accelerate growth.

The sub-region of South East Asia is a vibrant melting pot of dynamism, transnational influence and growth evidence by increased consumerism heightened by e-commerce and adoption of technology to enhance daily living from home. Despite an increasing interest in international trends, they remain connected to their roots. Successful marketers are leveraging an understanding of local mores to adapt and win.

In North Asia, where countries have distinct but homogeneous ethnic cultures, social movements are being empowered by technology, but they are very different digital ecosystems that need to be understood to connect with peoples of China, South Korea and Japan. Despite historical differences, consumers from each country are increasingly predisposed to products from these more local geographies than western markets. A sign that as Asia matures, it will not follow the path of the west.

Many peoples of Asia have a fascination with technology because it is a symbol of advancement. We could ask the obvious ‘chicken-egg’ question; Is technology the empowerment enabler for individuals? Or are individuals demanding more of technology?  Actually,  …, today, …, who cares!! We are now perhaps only limited by our imagination! 

The past two decades have witnessed an increasing connectivity between the Middle East and Asia, which is mainly economic. Besides trade, investment has been a growing feature of Middle East-Asian association. The Middle East has some of the world’s oldest sovereign wealth trusts, and they have shifted their focus from the mature western markets to those particularly in East Asia and the technology fund with Japan’s SoftBank. A reciprocal duality strengthens the ties through China’s Belt and Road Initiative.