As Brexit talks continue, many organisations are looking to take advantage of the burgeoning opportunities in Asia. The region looks set to benefit from increased investment and focus due to the uncertainty in Europe over the longer term, with a study showing that almost half (45%) of APAC business leaders say Asia now provides a great opportunity as a result of Brexit. The IMF expects Asia’s economic growth to remain strong at 5.4 percent in 2018, as the region continues to be the leader of global growth.
That confidence is underlined by the results of Telstra’s recent Connecting Commerce research in partnership with The Economist Intelligence Unit, which ranked 45 cities based on executive confidence in the local digital environment. What we found was that seven of the top 10 most confident cities are in Asia. In particular, Indian and Chinese cities like Bangalore, Mumbai, Beijing, and Shanghai saw burgeoning confidence in their ability to support the digital ambitions of organisations – alongside Western cities like San Francisco, London, and Madrid.
British and other European enterprises are looking to Asia.
With Asia’s rapidly growing population centres and an emerging, more affluent middle class, there are several opportunities for enterprises looking for international growth.
For example, the UK currently does more trade with Belgium than it does with China and India combined, underlining the potential for businesses looking to expand into Asia. This was recently reinforced by the UK’s Chancellor who recommended to a meeting of fintech leaders that the UK must “strive and graft and fight to seize opportunities, particularly in the Asian market”.
The key to thrive through investment and expertise.
One way for organisations to mitigate the uncertainties in Europe is to diversify globally and take advantage of the huge opportunities in Asia.
To support global enterprises seeking to reach new markets in Asia, Telstra has invested in connectivity and infrastructure there for many years. It owns the largest subsea cable network in the region which offers access to the most active intra-Asia capacity, connecting to almost 60 data centres with the largest integrated data centre footprint in Asia-Pacific.
For key markets such as China and Indonesia – Southeast Asia’s largest economy – Telstra has unique in-country capabilities through its PBS joint venture and telkomtelstra joint venture respectively. It also has more than 2,000 employees based in the region, offering the right experience and expertise to make connecting to Asian opportunities easier.
New technologies like programmable networks and hybrid cloud solutions are emerging, which make reaching new markets more cost-effective and less of a challenge. These innovations have core functionality that empower organisations to define and manage your network in real time, enabling pay-as-you-go provisioning, and providing visibility, choice, and control of your cloud, data centre, and connectivity infrastructure.
Through the global reach and flexibility afforded by such technologies, organisations can now take advantage of the booming opportunities in Asia.