1. Asia, is the global leader in online growth.
2. Asia, is the global leader for mobile market share
3. Asia, is a lucrative market for mobile revenues.
This is no secret — that’s why so many people take interest in Asia and one of the reasons I moved to Tokyo.
However, Asia includes the following four countries: China, India, Japan and South Korea. Those four countries account for 66% of Asia’s population, 60% of Asia’s mobile connections and over 70% of regional mobile income. Four markets, four countries with four very different ecosystems.
China = population of 1.4 billion people, GDP of 8.2 trillion USD
India = population of 1.2 billion people, GDP of 1.84 trillion USD
South Korea = population of 50M people, GDP of 1.13 trillion USD
Japan = population of 127.6M people, GDP of 5.96 trillion USD
Then, there are the smaller countries with high GDPs and/or high population like: Hong Kong, Singapore, Taiwan, Thailand, Indonesia, Malaysia, Philippines, etc., etc.
To put that into perspective, the US has a population of 314M people (double Japan) with a GDP of 15.68 trillion USD. Compared to the big four Asian countries (Japan, South Korea, India and China), the US has been ahead of the race as far as development, access and economic distribution. This development gap the US has is significantly wider with India and China than the gap the US has with Japan and South Korea, but the US is still ahead of these four countries.
As much as I commend South Korea and Japan’s economies and their astounding growths, India and China’s rapid growth is clearly a focal point if you’re paying attention to the Asian market. Indeed, Asia is a lucrative market with bright economic futures and much wealth ahead.
However, the most important takeaway and my fourth point, is the Asian market is far from a market, one market, single market. People (including myself in the past), casually say Asia — almost as though China, Japan and South Korea are like what Texas, NY and California are to the US.
So for those intrigued by the Asian market, please remember Asia is a massive market that is close to impossible to penetrate, unless one understands what they are dealing with. There is massive opportunity here. It’s fun and lucrative, with plenty of room for disruption in each of the respective ecosystems in very different ways.
But in order to get anything done and move any of these economies forward, these points are so important — trust me, I live in ‘Asia’ ;)
Sources: 1, 2, 3, 4