NOVEMBERASIA BUSINESS OUTLOOK9HOW CAN ORGANIZATIONS BENEFIT FROM ASIAN-TIGER ECONOMIES?IMPRESSIONSYou may have heard the phrase `Asian Tigers'. This term is commonly used to refer to the four Southeast Asian regions of Hong Kong, Singapore, South Korea, and Taiwan. Each of these regions has a diverse consumer base eager to purchase international goods and services. It is worthwhile to include these areas in your global marketing campaign. With this in mind, let us investigate how these Asian tigers emerged as the game changer for other businesses.What do these High Growth Economies have in Common?South Korea, Taiwan, Hong Kong & Singapore have one thing in common: rapid growth through industrialization. The transformation of these high growth economies began in the late 1960's when transnational companies sought new areas with lower labor costs. These four regions represent the first generation of newly industrialized countries. Japanese TNCs pioneered the search for new areas of operation. It was only natural for them to choose neighbors such as South Korea and Taiwan as locations for their manufacturing operations.Economic Advantages Other Businesses can Benefit from the Asian Tigers' OfferingsThe Asian Tiger regions' economic advantages include · Well-developed infrastructure - roads, ports, and railways - as well as educated and skilled populations.· Cultural traditions that value education and achievement, as well as advantageous geographical locations.· Government assistance and low-interest bank loans.· Less rigid regulations for labor, taxation and pollution.As the economies of the four Asian Tigers expanded,
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