Southeast Asia is a continent of diversity. Geographically, it is rich with various cultures, people, diseases, and healthcare services added with outrageous riches and poverty, emphasis the challenges confronted organizations when considering entering Asia. Nations as Russia, India and China have generally considered as the key players in developing markets. But, extreme growth in financial development, changes in government healthcare services, population, increase in income and all have prompted to high demand for healthcare and pharmaceuticals across other markets in SEA.
In any case, almost every country in Southeast Asia has a rising and developing economy. Apart from the geographic closeness, the countries in this region are distinctive in different ways beyond culture and religion, so each should be entered with a different strategy.
Here is some tips:
- Singapore and Malaysia have the most developed market among all the countries in SEA. Hence, it might be a good entry pass for this region. The majority of the other 10 nations have markets that offer longer term opportunities.
- Singapore, which is both a city-state and an island nation, is the most worldwide trade, transportation and financial hub and has a image as an easy platform for being an easy place to do business. At about $52,000, it has the most highest margin of income among the countries.
- Brunei has the second highest income margin.
- Malaysia is in the third rank in salaries, with every scale of income after Singapore and Brunei.
Since a part of the young population has many years ahead to earn more incomes, they will no doubt increase their purchasing power also. As of now, their profile is attractive:
- There is high browsing of the internet, computers, and gadgets.
- Those who highly connected to internet has greater buying power.
- Online buyings extend from electronic gadgets to fashion and household items.
Other than that, there is the Association of Southeast Asian Nations (ASEAN). This is an organization promoting economic and political participation among its ten countries: Brunei, Malaysia, Myanmar, Cambodia, Indonesia, Laos, Philippines, Singapore, Thailand, and Vietnam. This association is extremely anxious to facilitate working with different nations around the globe and is looking for investments from, and exchange with international businesses.