ASIA PACIFIC FORGING AHEAD in 2018
The emerging digital economy has brought in change and growth in unimaginable way creating major disruptions, forcing business transformations and bringing in new billionaires out of the blues. 2018 will be yet another year of impressive economic growth for the Asia-Pacific economy mostly thanks to improved global demand stimulating export and manufacturing performance. Asia Pacific is all set to reap the economic rewards. The region will account for over 53% of the global Internet population by 2020.
The economy is expected to move along at a very competitive pace compare with the rest of the global economy. This accelerated pace will have profound regional implications on businesses, jobs and people. And this is just the beginning. Global Executive Search companies like Cornerstone are quick to feel the pulse of the changing economy and we take step to forecast and plan for this change which could affect the way we recruit and coach business leaders.
CEOs and Business Leaders in the Asia-Pacific (APAC) region will be closely monitoring economic, political and will be tracking a variety of factors. Among the major players we believe – China will see interesting changes in economy and leadership development; India‘s business environment will shift with implementation of the Goods and Services Tax (GST), and saber rattling on the Korean peninsula will make news headlines causing some uncertainty. With oncoming Presidential election Indonesia will have a year of politics and will rise as a global player in the International scenario with Asian Games in Jakarta and the annual World Bank – IMF meet in Bali.
The Rules of Business have changed dramatically and the traditional elements of mass production and wealth creation — capital, labor and raw materials — are being redefined by digital, creating new value for businesses. Not surprisingly, various industries are struggling to keep pace with the change.