Top Affordable Regions in APAC to Expand Your Enterprise

International expansion has plenty of benefits, which include selling to foreign markets, manufacturing products at lower costs and building a global brand. And when it comes to expanding to foreign markets, there is no better region to experiment in than the Asia-Pacific.

This is primarily because most Asian countries boast vibrant economies, all supported by a large population with typically homogenous cultures, and business districts with plenty of real estate available at relatively low costs. All of these attributes naturally appeal to foreign businesses looking to expand their horizons, straight down to the homogenous cultures, as marketing products for APAC markets can be linear with the right approach.

If you’re looking to expand your enterprise to the Asia-Pacific region but aren’t sure where to start, you’ve come to the right place. Keep reading to discover some affordable yet lucrative APAC markets for your business expansion.

Australia

There are few countries in the APAC region – or the world, for that matter – that combine developed infrastructure, friendly business laws and a vibrant local market like Australia.

While Australia is a highly developed country, it still abounds with cost-effective business opportunities. Melbourne and Brisbane, in particular, are favourites among international enterprises looking to gain a foothold in the Asia-Pacific market. Both these cities combine ample commercial spaces and a highly skilled populace, making them two of the best places to do business in Australia. Other cities, including Sydney, Canberra and Perth, also boast thriving local economies and are fantastic options for businesses looking to expand.

Australia’s economy is also predominantly small businesses, so if you’re looking to enter B2B markets, you’ll need to make sure you’ve invested in all the right trust signals that business owners will be likely to look for. This means securing the right industry licenses, accreditations, certifications, and securing suitable business insurance in Australia.

Despite its higher volume of sole traders, however, the Australian economy ranks among the strongest in APAC, making it the top of today’s list.

The Philippines

There are numerous reasons why the Philippines is consistently among the top choices for APAC expansions. A large majority of the population speaks English at a conversational level, which not many other Asian countries can boast. This makes it easier to hire local staff who can communicate with their colleagues in other countries. The Philippines also features a population of over a hundred million people, making it a lucrative choice if you’re looking for a foreign market to sell your products.

The key to thriving in the Philippines is to build a strong online presence. This Southeast Asian country consistently ranks among the top in the world for internet usage on a per capita basis. This means that digital marketing strategies like running online ads and optimising website SEO for local searches are critical for facilitating business growth in the Philippines.

Much of the country’s business is centred around metro Manila, although efforts are being made by the government to urbanise other areas. With development initiatives in the works, businesses looking to set up shop in the Philippines will likely have no shortage of affordable locations to select from.

Indonesia

Indonesia is a good place to do business due in large part to its excellent geographic location in the heart of the APAC region. Businesses operating in Indonesia maintain easy access to Australia, China and the ASEAN region. Indonesia also boasts a population of more than 270 million people, making it the fourth most populous nation on the planet. Add to this a growing middle class, and it’s not hard to see why so many businesses in the Asian Pacific region and around the world are trying to break into the Indonesian market.

All this isn’t to say that setting up operations in Indonesia is a walk in the park. Some hurdles that even large multinational corporations need to overcome include securing business permits, navigating the high cost of utilities and doing business in local languages.

While expanding to Indonesia isn’t easy, it’s incredibly lucrative. The country boasts the largest economy in ASEAN, making it perfect for businesses looking for a new market to sell to or simply searching for a well-situated country to set up an additional base of operations.

Bangladesh

Bangladesh ranks among the world’s top destinations for cost-effective manufacturing, particularly for the fashion industry. Big-name brands like H&M, Tommy Hilfiger, Zara and Gap all make use of Bangladeshi factories to produce their clothes. Additionally, the local manufacturing industry goes far beyond fashion and textiles: multinational corporations as diverse as Coca-Cola, ABB and Japan Tobacco International all produce goods here.

As a foreign business looking to expand into Bangladesh, your challenges will include navigating a complex political climate and seeking manufacturing plants that meet your production standards. These issues can be difficult for a foreigner to navigate, which makes it a good idea to work with a local procurement agent.

While there are challenges involved with operating in Bangladesh as a foreign company, they’re not insurmountable. After all, there’s a reason why so many of the world’s biggest corporations have made Bangladesh a central part of their supply chain. Through careful quality control and local networking, almost any enterprise can benefit from the country’s massive manufacturing industry.

Map out your APAC Expansion

There are few areas in the world that combine the Asia-Pacific region’s thriving economy, booming population and generally friendly business laws. This is why so many companies from all over the world are choosing to expand operations here.

The APAC region is also known for its diversity, which shouldn’t come as a surprise given its size. Each country is unique in terms of its economy, culture and political situation. In this article, we’ve given an overview of four of the best places to do business in the region. Incorporate these markets into your expansion plans today.