2018 Top Countries in Asia-Pacific for Startups
This data references the 2018 study performed by Value Champion (refer to URL below) to determine the best countries for startups in Asia-Pacific. This data can provide useful reference points for European startups looking to open a new office in the Asia Pacific.
According to Value Champion, the best countries for startups in Asia-Pacific have strong economies, relatively low cost of conducting business, healthy business environments and highly educated populations. Value Champion's scoring system is based on available data and each country's rank across several categories. Lower scores indicate higher ranks, or better locations for startups.
Ranking based on Composite Scores
1. Singapore. Rated by the World Bank in 2017 as the second best country globally for business, Singapore is a small (5.6 million population) but wealthy ($52,962 - GDP per capita) with relatively low unemployment rate and good internet accessibility. Despite its small population, Singapore is often perceived as a strategic springboard to project products and services into the greater ASEAN region, which boasts a combined population of 650 million people.
2. Hong Kong. Hong Kong is a strategically situated city, similar to Singapore. With a population of more than 7 million and high GDP per capita ($43,741), Hong Kong is widely considered as a strategic location for startups looking for a stable gateway into the Greater China region of more than 1 billion people.
3. Japan. Japan has a good business environment for startups, as over 93% of its population has internet access. It has one of the most educated workforces globally; however, Japan is ideal for a European startup if the startup intends to focus primarily on Japan as a market, as foreign products and services in Japan generally tend to require deeper localization effort and costs, compared to Singapore and Hong Kong.