Expansion means growth, and growth is what all businesses and entrepreneurs aim at. In scaling your business, it is important to have knowledge on how and where to aim if you are planning to expand your venture across borders. With this in mind, we have prepared an abridged infographic to assist you with a little bit of insight on the best APAC countries to start a business according to Forbes’s 2015 Best Countries for Business.
Ranking for Best Countries to Start a Business in APAC in 2016
1. Singapore (#8 Worldwide)
The picture is looking bright for Singapore, as it is ranked as #8 in the World, which made it the top #1 in the APAC’s list of best countries to start a business. What makes the Lion City the best in APAC’s league? With the GDP growth of 2.9% and USD $83,100 worth of GDP per capita and 19.1% trade balance GDP with 5.7m total population, it is no wonder Singapore is leading.
2. Hong Kong (#11 Worldwide)
Following Singapore’s lead is Hong Kong, which sits at #11 in Forbes’s list of best countries for business. With a total GDP growth of 2.9%, USD $55,100 worth of GDP per capita and 1.9% trade balance GDP and a total population of 7.1m, Hong Kong seems to be just the right runner up.
3. Australia (#14 Worldwide)
Number #3 is Australia as it is ranked #14 in the list with total GDP growth of 2.7%, $46,600 worth of GDP per capita but with -3% trade balance GDP with a total population of 22.8m.
4. Malaysia (#34 Worldwide)
Surprisingly, Malaysia is ranked at #34 and that means we sit on the #4 in the list of APAC best countries to start a business with a total GDP growth of 6%, USD $25,100 worth of GDP per capita and 4% trade balance GDP a total population of 30.5m.
5. Thailand (#75 Worldwide)
At #5 for APAC countries is Thailand, which Forbes has listed as #75 for best countries for business with a total GDP growth of 0.9%, USD $15,600 worth of GDP per capita but with 3.6% trade balance GDP and a population of 68m.
6. Philippines (#84 Worldwide)
Following Thailand is Philippines, which sits at #84 worldwide with total GDP growth of 6.1%, $7,000 worth of GDP per capita, 4.4% trade balance GDP with a total population of 101m.
7. Indonesia (#93 Worldwide)
Indonesia on the other hand holds ranking number #7 after Thailand and Philippines in the APAC and #93 worldwide, with total GDP growth of 5%, $10,700 worth of GDP per capita but with -3% trade balance GDP akin to Australia, and a population of 256m.
8. China (#94 Worldwide)
Even though China has overtaken the U.S as the World’s largest economy, it sits at #94 worldwide, making it the number 8th in APAC’s runner up of best countries to start a business. China has total GDP growth of 7.3%, $13,200 worth of GDP per capita, 2.1% trade balance GDP with the high total population of 1,367.5m.
9. India (#97 Worldwide)
Lastly India sits at number 9th in the APAC best countries to start a business as Forbes ranked it as #97 worldwide with total GDP growth of 7.3%, USD $5,800 worth of GDP per capita but with -1.3% trade balance GDP. India’s massive total population of 1251.7m proposes positive economic prospect Bloomberg predicts that the World Bank anticipates India will be growing faster than China by 2017.
APAC’s Demographic Economics
Want to see how Asia-Pacific countries stack up within the list? Check out the infographic below to see which country is the best to start a business and launch your next regional branch to scale rapidly.
Conclusively, the infographic provides option on best Asia Pacific countries to start a business. With various useful information listed for each country, any venture can find tune in fitting within these countries’ demographic economics regardless of industry.
For instance, tech-startups can make use of Singapore’s high digital literacy, while fin-tech ventures can be benefited from Hong Kong’s pool of massive trading and manufacturing talents. Any e-commerce platform on the other hand, can plunge into Australia’s blooming online shopping trend, and food-tech startups could have the advantage of multinational team of experts in Malaysia’s MSC status ecosystem.
All in all, we hope this infographic can benefit you in deciding on which best APAC countries to start a business and set your next regional branch!