Singapore
Singapore boasts a thriving technology sector, due to a range of converging factors: its location at the crossroads of some of Asia’s biggest markets, well-developed information technology infrastructure, a strong investment environment, and a robust regulatory regime.
According to Tech Nation’s report on Unlocking Global Opportunities report, for UK tech companies, Singapore was one of the fastest rising global opportunities for trade, climbing 5 places in the rankings for global tech opportunity between 2019 and 2020.
Southeast Asia has over 600 million consumers, an emerging middle class, and many of them are young and digitally savvy – and Singapore is at the heart of it. A bustling city-state with a rapidly evolving tech ecosystem, Singapore is a hub to access the opportunity in the wider southeast Asia region.
Southeast Asia’s digital economy hit US$100 billion in 2020 and is expected to grow to US$300 billion by 2025 despite the challenges of COVID19.
The region also saw 40 million new Internet users in Southeast Asia alone, bringing the total number of internet users to 400 million – the same size as the US market.
Deal activity across the region continued to grow unabated in the first half of 2020 despite COVID19 too, Google, Temasek and Bain & Company found.
The pandemic particularly drove huge growth in the HealthTech and EdTech sectors across South East Asia. In addition to this, the Covid-19 lockdowns led to massive and permanent digital adoption, with more than 1 in 3 digital service consumers (36% of total) being new to the service, of which 90% intent to continue their newfound habits post pandemic.
We can support you with your international growth. For UK tech companies interested in expansion specifically to Asia Pacific, Tech Nation is offering:
If you are a scaleup looking for international support please complete this expression of interest form or international@technation.io and we will get back to you.
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