Tourism competition is heating up across Asia and it’s not just because of geopolitics. Japan had a record high of 31.19 million visitors in 2018 despite natural disasters and airport shutdowns. However, the level of annual growth is slowing, from 17.8% to 8.7% in 2018. Additionally, Chinese shoppers are becoming more frugal with their spending and have been overtaken by Australia as Japan’s top-spending visitors. Companies are now trying to attract foreigners through experience-based services vs buying luxury items. We are already seeing this trend emerging in Australia.
Emerging Leaders Forum Strong insights from Murray Hurps on the Entrepreneurship opportunities for Australia to catch up with the rest of the world. Australia’s ASX is dominated by an oligopoly of banks and consortium of Mining & Resources companies but where are the Digital Technology companies? In 2018, @University of Technology Sydney launched UTS Startups, a community focused on engaging, inspiring and connecting students to entrepreneurship opportunities and this is just the start of a huge task that Australia needs to do to promote Entrepreneurship
Inspiration – so many cities, many emotions!
Day One of the International Induction program at Seoul Startup Hub. The operation is just over 18 months old but is demonstration how serious the Seoul Metropolitan Government is about investing in Startups and the supporting infrastructure. The building is fitted out with a TV/Online recording studio, commercial grade 3D Printing facility and numerous Idea generation and relaxation spaces. Feeling inspired !! inspiration startups incubators
There is a risk of just talking about China all the time but this infographic has got us standing up, doing high fives. A visual representation showing the power shift back to the east. A weighted chart of GDP vs. Latitude & Longitude.
Some mind blowing insights as well:
1. The Global centre of economic gravity is now in Siberia given China’s meteoric 900% GDP growth per person since the 1990s.
2. China has bought more than 740 million of its residents out of poverty since 1990.
3. Since the financial crisis in 2008, China has accounted for 45% of the growth in world GDP.