Our Asia Pacific research team recently hosted an interactive webinar on how Asia’s business environment will shift in the coming year. The webinar includes selected topics being raised in strategic planning sessions across industries (e.g., pressure to localize supply chains, the future of US-China tensions) so that you can pressure test your assumptions and use the information to align expectations across your organization for Asia Pacific in 2021.
COVID-19 will continue to create disruptions over the next 12-18 months, though the shape of disruption will look different than it has up until now. Companies will need to cope with continued supply chain disruptions hitting at different times in different places. Those that have not yet done so should identify their greatest vulnerabilities and move to address them.
While many countries have passed the peak of the COVID-19 pandemic, much of the region is still showing low growth and deteriorating economic environments. Governments in Asia are attempting to implement policies that drive economic growth, so executives should be prepared for regulatory changes and volatility moving into 2021.
The Chinese government is widening market access to attract increased investment and planning urban infrastructure development to boost employment. While the Indonesian government has opened the island of Bali to domestic tourists to support the local economy that is largely dependent on tourism, Japan is subsidizing recreational and accommodation expenses to boost domestic tourism. Malaysia is allowing entry of medical tourists to support the healthcare industry, and Thailand is planning projects worth US$ 2.6 billion to support the consumer, tourism, and farming sectors.
Watch the recording to learn more about what to expect across Asia Pacific in 2021, and how to prepare for an uncertain future for the region.
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