Today, almost half of all internet users can now be found in the Asia Pacific. There are on average 20 new mobile broadband subscriptions every second, around half of which originate in the Asia Pacific region. China alone is expected to add more than 250 million new mobile subscriptions over the next five years.
For Australian enterprises, that presents enormous opportunity for growth. It’s up to our enterprises to invest to meet that opportunity.
Investing in innovation and collaboration
Australian organisations have never been shy of innovation. From the Hills Hoist to the black box flight recorder and from Wi-Fi to Cochlear implants, our inventors, entrepreneurs and innovators have made a disproportionate impact on the world. Investment in innovation is our route to fulfilling the opportunities across new Asian markets.
But innovation as a solo enterprise is not enough. The recent research that Telstra commissioned with the Economist Intelligence Unit (EIU), Connecting Capabilities, underlines this fact. 70 per cent of companies we polled worldwide, said that going it alone without digital partnerships will soon be a thing of the past.
Digital partnerships are important as they allow companies to fend off emerging digital disruptors, and there is strong recognition that partnerships are necessary.
At Telstra, we have invested in digital partnerships in Asia, including Chinese cloud services business Qiniu and C88, which owns financial services sites in Indonesia and the Philippines. These investments not only give us access to new technology we can offer to our customers, but they expand our network of relationships in the region.
The opportunity of the Asian technology revolution
The rise of Asia is both a challenge and an opportunity for Australian businesses. But Australia’s strong relationships with our Asia Pacific neighbours means we are ideally placed to be part of the coming technology revolution.
Active involvement in the region – through investment, collaboration and training a new, skilled, global workforce – will see Australian organisations rise alongside our Asian counterparts, rather than compete with them.
By focusing on our strengths to foster ideas, Australian businesses can become leaders in the region.
For more advice on how to do business in specific Asian countries, please visit the Airport Economist series, which Telstra has proudly sponsored.