Asian Sports, Entertainment and Lifestyle Industry
Asia at the forefront of Sports, Entertainment and Lifestyle Industry
The Asian economic growth story that started in the 1980’s has seen exponential growth. Japan surprised the world with its economic might and ever since has occupied the second position in terms of GDP and economic standing. This was followed by growth stories of Korea, Hong Kong, Taiwan, Thailand, India and the latest and mightiest addition – China. Although the current financial crisis has negatively impacted the world, China has maintained a 7% growth rate. This shows that irrespective of the economic outlook, Asian countries cannot be ignored.
It is no surprise then that corporations are continuing to move and seize arbitrage opportunities in Asia. There is a wealth of opportunities to be seized here. Governments and business houses are recognizing this and this is evident from the impetus to the Sports, Entertainment and Lifestyles business’. With a constant influx of ‘westerners’ into Asian countries and an exponential rise in the Asian standard of living, there is a growing demand for quality lifestyle, sports and entertainment services. Additionally, to compete with low wage economies who have moved up the value chain into designing and manufacturing microprocessors to pharmaceuticals offering high value services positioned as lifestyle and entertainment will fetch high premiums.
I will expound on the following areas to elaborate on the emergence of the Sports, Entertainment & Lifestyle Industry:
1. Singapore’s Kallang Sports Hub:
According to Merill-Lynch’s 2007 Wealth Report, Singapore has the highest number of HNI’s. It has also been called the best place for Asian expatriates to live in (according to an ECA International Survey). It has also consistently topped the list of countries with the best business environment. Hence it is only logical for sports and lifestyle business’ to use Singapore to launch their products. In fact the Singaporean government is using
The Asian economic growth story that started in the 1980’s has seen exponential growth. Japan surprised the world with its economic might and ever since has occupied the second position in terms of GDP and economic standing. This was followed by growth stories of Korea, Hong Kong, Taiwan, Thailand, India and the latest and mightiest addition – China. Although the current financial crisis has negatively impacted the world, China has maintained a 7% growth rate. This shows that irrespective of the economic outlook, Asian countries cannot be ignored.
It is no surprise then that corporations are continuing to move and seize arbitrage opportunities in Asia. There is a wealth of opportunities to be seized here. Governments and business houses are recognizing this and this is evident from the impetus to the Sports, Entertainment and Lifestyles business’. With a constant influx of ‘westerners’ into Asian countries and an exponential rise in the Asian standard of living, there is a growing demand for quality lifestyle, sports and entertainment services. Additionally, to compete with low wage economies who have moved up the value chain into designing and manufacturing microprocessors to pharmaceuticals offering high value services positioned as lifestyle and entertainment will fetch high premiums.
I will expound on the following areas to elaborate on the emergence of the Sports, Entertainment & Lifestyle Industry:
1. Singapore’s Kallang Sports Hub:
According to Merill-Lynch’s 2007 Wealth Report, Singapore has the highest number of HNI’s. It has also been called the best place for Asian expatriates to live in (according to an ECA International Survey). It has also consistently topped the list of countries with the best business environment. Hence it is only logical for sports and lifestyle business’ to use Singapore to launch their products. In fact the Singaporean government is using