The rising Asian middle class has driven
A rising middle class and growing economies have driven tremendous growth in certain industries including the automotive industry for the past 10 years. Vehicle sales in Asia Pacific reached 30 million units in 2011, with sales growing nearly 13% annually between 2000 and 2011. The rising trend of auto sales in Asia will continue for at least the next 8 to 10 years according to industry experts.
The size and potential of the Asian middle class is unique
The growth in automotive sales is one of the hardest markers for Asian middle class growth with associated consumer confidence, ability and willingness to pay according to Peter Karlsson from Profits And People. This growth has occurred in spite of the global financial crisis with major problems in both the US and Europe. Certain industries will be almost immune to any future crisis including the Korean crisis. This is because the size and potential of the Asian middle class, as a targeted market is totally unique.
Targeting the right markets with the right products and strategies is essential
Targeting the right niche markets with the right products and strategies will however be essential. Adapting their products and strategies to a new and different market place can be difficult and this is where most companies fail explains Peter Karlsson. The companies who are the most adaptive and agile will no doubt experience the best growth in this region in the next ten years.
Global shipping companies expanding their fleets
in Asia to meet the demand
The fact that major global shipping companies such as Wallenius Wilhelmson are increasing their fleets and activities in the region is another sign of confidence in strong continuous economic growth in the Asia Pacific region and in the rest of Asia. These companies take a long term approach when investing into the Asian region. A long-term approach is recommended and warranted in the Asia Pacific for other companies as well according to Peter Karlsson.
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Profits And People is a boutique Business Growth and Market Expansion Consulting firm supporting organisations to increase their growth and profitability in Australia and Asia. Profits And People also provides cost effective Risk Management solutions for increased peace of mind. We are based in Sydney and have 23 years experience in the Asian pacific region working across several different industries from IT and Manufacturing / Retail to Medtech / Pharma and Healthcare. Profits And People work with large Multinational Organisations as well as SMEs. We support organisations through their entire lifecycle providing dynamic and innovative consulting solutions in a world that is constantly changing. Profits And People help organisations taking advantage of global changes rather than being a victim of them through a strong understanding of People, Culture Process and Systems.