Categories: Special ReportGoing Global

The Dragon Challenge

Doing business in Asia is loaded with opportunities – and fraught with uncertainties
With the world’s two largest economies at loggerheads over trade and tariffs, “business as usual” is tenuous at best between the US and China. Flashpoints include cyber security and unfair trade practices related to technology transfer, intellectual property and innovation.

On the flip side, a burgeoning middle class in China, one that is interested in domestic and global travel and accommodations, have energized developments across the global travel and hospitality industries. Still, for US businesses engaged or thinking about trade or travel in China, the absence of stability creates a climate of risk.

An abundance of opportunities lay beyond China’s borders in Southeast Asia and India, where their respective economies are growing by leaps and bounds. Nevertheless, there are nuances and protocols that must be observed to achieve success both in China and elsewhere in the region. For corporate travel managers and other travel industry professionals who are planning to expand their businesses in these troubled waters, it pays to understand the challenges and opportunities of doing business in the Asia-Pacific marketplace.

“The region has a very large population with a huge consumer appetite growing at a rapid pace,” Pat Siow, regional director for Asia Pacific, Travel Leaders Network explains. “Numerous multinational organizations, especially fast-moving consumer goods have established offices in Asia to support their sales activities in the region. Many companies centralize their procurement activities in the region, usually in Singapore or Hong Kong, although lately there have been some shifts of these activities to China, India, Indonesia and Philippines.”

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