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Whether you are looking to move abroad to start a new life or want to take your business into a new and exciting marketplace, there are a few interesting options out there that might be worth checking out. While the ‘safe bets’ of the United States, China, and the major European nations will always be attractive, scratch beneath the bigger economies and you will find plenty of opportunities.
While moving to one of these places on the plane might be something of a risk, it’s also important to remember that being brave can often pay off. Smaller, developing nations can often be home to an exciting environment that offers astonishing rates of growth. Here are some of the best, up and coming areas in the world that might be worth your time.
Malaysia might be a small country of 29 million people, but its economy has been showing some encouraging signs in recent years. The nation has worked hard to reduce poverty levels in the past half-century or so, and while it was affected by the global financial crisis in 2009, it has bounced back quickly. Cheap manufacturing costs and little bureaucracy in business regulations means that Malaysia is open for business in a big way.
For such a relatively young nation, the Czech Republic has come on in leaps and bounds in recent years and is now one the best opportunities for business people in Europe. It has a GDP of around $205.3 billion and is well known for its welcoming nature towards entrepreneurialism and business. It’s also politically and economically stable and has a reasonably well-developed social backbone that provides citizens with a good life overall.
Poland is another European nation well worth checking out if you have a business. The country provides an excellent environment for entrepreneurs. The population is well educated, and Poland also offers one of the most skilled workforces in the world. It’s well-placed, too, with easy access to the rest of Europe. While many Poles moved to different nations when they joined the EU, it’s interesting to note that many are now returning.
The UAE has been of interest to many major global companies for many years now. But there are more opportunities there than you might think. Ras Al Khaimah has always lived in the shadow of its neighbors in the United Arab Emirates – Dubai and Abu Dhabi are a good example of this. However, there is a lot of potential in the small emirate known as RAK, thanks in no small part to the leadership of the Al Qasimi family. A quick look at the Al Qasimi family history reveals the influence they have had on the nation-state, and it is now a place that welcomes business opportunities from around the world. It is also one of the fastest growing areas on the planet for tourism, and able to rely less on sales of oil than its sister emirates in the UAE.
The former British colony is known as one of Asia’s four economic tigers, and there has been incredible growth over the past few years, particularly in the technology and pharmaceutical sectors. With low unemployment and high GDP per capita, it’s easy to see why so many businesses are looking to enter the Asian market head to Singapore first. And you won’t be alone – immigrants are expected to make up half the population by as early as 20130. It’s a dynamic place in the world, full of movers and shakers and is known as one of the most welcoming nations for entrepreneurs.
While India has slipped from its top spot of recent years, it’s still a place where investment can pay off. It’s a fast-growing, diverse economy that has an incredibly skilled workforce. Given its workers are well-educated and English-speaking, it’s a no-brainer for many entrepreneurs who want to invest in technology, business outsourcing, and software. In fact, India is ranked Number 3 in the world for differentiation, and its unique business environments mean that many movers and shakers thrive in the country.
It’s well worth investigating Thailand for business opportunities. It’s especially true if you are in the manufacturing or agricultural industries, as these are the two sectors which tend to keep unemployment and poverty low, and the economy has been growing steadily over the past decade or so. Tourism is another industry worth investigating – especially if you have an interest in the more adventurous activities that go down a storm with backpackers and holidaymakers. It’s incredibly welcoming to new businesses moving to the area, too, and if you are looking for a place with something different, Thailand has a lot going for it.
Israel isn’t without its risks, of course, given its location in the complicated Middle East region. But it’s one of the best nations in the world for opportunities in the technology sector and is an incredibly advanced economy. The people are well educated, and Israeli culture has a lot of influence throughout the world in many different areas, including science, the arts, and politics. Yes, there are plenty of terrorist threats to contend with, but as we have seen everywhere else in the world, it’s not just a problem in the Middle East. And the simple fact is that it is a great environment for all kinds of entrepreneurs, and offers a high quality of life to its residents.
The Indonesian Islands cover a vast area in the sweet spot between Asia and Australia, and the archipelagos are a natural bridge between two continents, making it an attractive proposition for many entrepreneurs. Indonesia enjoys the largest economy in the region and is known as one of the world’s richest nations. Major exports include natural gas and crude oil, palm oil, and coffee and cocoa. But it’s also becoming something of a centre for technology in the region, and many entrepreneurs are taking advantage of the super cheap manufacturing costs in Indonesia.
Any of these countries tickle your fancy? Let us know about them in the comments section below.