3 Incredible Opportunities in Asia for African Businesses to Expand

Posted on 27 Nov, 2015 by admin

0 Comment

Africa was once called as the “dark continent”, but now it is known for its resources, both material and man. The opportunities for growth of African business are incredible, thanks to its immense indigenous resources. African business can work towards expanding their unique services by catering to the demands of the markets in the Asian nations. Though there are plenty of services and products available in Africa which have a great demand in the Asian nations, there are three major aspects which are trending.

Tourism:

Recently, the World Travel and Tourism Council (WTTC) announced that Africa has ranked top among the fastest growing tourism department in the world and is said to have a positive response from the tourists of various countries especially the countries in Asia-Pacific. Asia Pacific is in focus since 2000 as it is considered as the fastest growing region around the world. Now, it is time for African Travel and Tourism Board (ATTB) to unite with the board of Asia-Pacific to create more business opportunities that gains both continents.

Wildlife is the most attractive aspect of African tourism as the host has numerous amounts of wild species starting the great African elephant, Cheetahs, Lions and many other majestic creatures. African Travel and Tourism Board has started its tie up with Asian countries like Singapore, India, Japan, China to create new businesses for the people in both Africa and Asia.

Antique imitation crafts:

Another unique selling point of the African’s market is the antique imitation crafts. The art of sub-Saharan Africa or commonly known as African art is said to have its own voice as their demand in the Asian market is increasing day by day. The different arts like traditional, contemporary African or the country/people art are already available in many of the Asian markets like Singapore, China, Hong Kong, Korea and other nations. African antique crafts are also getting popular in other countries like India, Japan, Malaysia and other countries.

Cocoa:

The demand for cocoa has not gone down since 2007. The rising consumption in the economies of China, Japan and India has encouraged the African farmers to boost the production, which in turn has increased the pressure on them. Cocoa in English means the Food of Gods, and for many decades, it has been the main sustenance for farmers in Africa, especially Nigeria/West Africa. Cocoa trade is unique among the bulk commodity trade in the world economy as cocoa is a crop that can’t be grown anywhere else as it requires tropical climatic conditions.

Even though chocolate is consumed more in the northern hemisphere, cocoa is still a southern crop that’s still grows only in the southern regions. Other major producers of coca include Brazil and Indonesia. But in the later 1990’s, the Brazilian production went down as a result of constant menace of typhoons and El Nino- afflicted weather. Since then West Africa has become the primary producer of cocoa.

Comments

No comment found.

Leave a new comment

Your email address will not be published. Required fields are marked *