Asian growing markets trend say a lot about where future economies of the world are heading. With developed economies facing a financial crisis and spending power increasing in Asia, there is a lot of focus from big businesses towards Asia.
Access to technology such as the internet and the opportunities that e-commerce that provided has enables this region of the world to grow tremendously in many business arenas. Amongst the many businesses that are established and growing, currently the more profitable is technology. Asian markets are the new breeding grounds for innovative electronic goods that can be purchased at almost throw-away prices.
China is the largest market for mobile phones. In Taiwan, there is a growing demand for eco-friendly technologies and one company Motech Industries Inc has cashed in on the demand and developed a strong business that sells cells to solar panel makers. In Korea, the demand for electronic items is stronger than ever and this is increasing the growth of electronic companies situated here.
Coming close to technology is the automobile industry. With the demand for automobiles on the rise, newer and newer models are expected to releases in markets across Asia in the coming years. The low cost of production in these countries has encouraged automobile leaders like Nissan, Ford, Hyundai, Toyota, General Motors to shift their production here and take opportunity of the low cost and rising middle class income levels to enhance growth and global customer base like never before. In 2009, total car sales in China exceeded that of the United States, and this has made it the world’ largest automotive market. Factors such as lowering of car sales tax for 1.6L engine displacement and the allowance of subsidies for certain types of vehicles have enhanced the automobile market in China, specifically in two or three tier cities in China.
Other industries such as luxury goods, insurance, banking and bio-technology are making foray into the Asia, it is technology and automobile that is currently making headway.