Having been born and raised in the ASEAN region, and now living in Australia, it excites me to know the two markets naturally work alongside each other to boost our respective economies, open doors for businesses and importantly, improve the way people go about their daily lives.
Today, technology is the glue that brings the two regions together.
Because of Australia's mature and robust financial services sector, home grown startups and more established fintech players (and those in related sectors such as regtech and insurtech) are making their way across the Indian Ocean to set up shop and disrupt the norm. Cybersecurity firms are not far behind with a growing number already finding success in the region.
No doubt these businesses are tapping into the region's growing consumer class with greater purchasing power, and governments heavily investing in digital transformation with the view to provide cheaper, accessible and improved connectivity for all citizens. There is also the influence of Australia's free trade agreements between nations.
Entering new, foreign markets not only comes with regulatory and legal requirements, but also the need to understand how to communicate a company's brand story amidst cultural (and even language) differences.
Earlier this year, Hotwire announced an exclusive partnership agreement with The Hoffman Agency in Asia to help companies across the region do exactly that. Together, we can now provide a single agency solution for any Australian (and global) businesses looking to move into Asia or to improve their Asian communications.
It is increasingly important for communications specialists to work in a consistent and effective manner across borders.
“The fact that ASEAN companies and governments are open to new ideas and solutions presents an opportunity, but Australian companies need to do the research into the market opportunity."