First, let’s ask ourselves, can we be sure what the future holds when none of us thought that we’d spend an entire year indoors? But one thing that the pandemic taught us is that there is more than one way to do anything. People thought businesses would close due to lockdowns, but the concept of remote working stepped up. Such was the year; it brought new developments and sparked discussions that were buried.
Similar is the case for investing in international businesses. Looking statistically, stocks are poised to perform better in the new year. Remember, the economic development in response to the pandemic is also going strong. But before you try to invest internationally, let’s elaborate on where you can start investing.
Vietnam and Cambodia
Vietnam and Cambodia are unarguably the best Asian countries to invest in, especially in 2023. Let’s look at it this way. They completely averted the crises that were in the form of a pandemic. In fact, according to studies, they were able to achieve GDP growth in 2020, when most countries bore the brunt of a global economic crisis.
On top of that, by separating from China, they could expand their horizons on the business forefront. They are better positioned to play their part in world trade’s restructuring. And this is not due to COVID-19 but because China is in a trade war against the United States. According to Forbes, out of $31 billion in exports taken away from China, about 46% is taken by Vietnam. They also exported an excess of $14 billion worth of goods to the U.S., the prospects look bright!
The Philippines
The Philippines isn’t far behind, either! Before the pandemic struck us, the Philippines was doing better than most, with over 6% yearly growth. Currently, the IMF is forecasting that there will be an 8% contraction this year. How did that happen? The remittances accounted for 10% of the nation’s overall GDP. In other words, over a tenth of its economy is linked to the economic stability of over 10 million Filipino diasporas worldwide.
Another prospect is that about 80% of these remittances come from seven countries: Japan, the USA, Saudi Arabia, UAE, Canada, UK, and Singapore. So, remittances dry up when recession enters the pinnacle of its powers. And what makes this a good investment because you can get good deals at outstanding prices. So, who doesn’t like a good deal?
Japan
If we’re honest, Japan is a comparatively weaker choice than others on the list. The reason is that their economic growth was not that impressive even before the pandemic. Their GDP increased by 0.3% in 2018 and 0.7% in 2019. And after COVID-19 came into the frame, they dropped by almost 5% this year. According to the IMF, Japan’s GDP is expected to grow 2.3% in the coming year if the situation improves.
Do you want to know why Japan is on the list? They are expected to boost their economy with the 2021 Tokyo Olympics. The economic boost is quite specific with international travel normalizing virtually every day. But let’s not forget that this year’s Olympics is being held behind closed doors. On top of that, the delegation arriving will also be reduced in numbers. So, it’s a gamble, but if you want to invest, you must take risks!
Final Verdict
Investing internationally has usually been risky if we look back a few decades ago. But now, it’s one of the premier sources of earning. From joint ventures to long-distance partnerships, international investment is growing consistently. But investing now can be a gamble with the pandemic still hanging around.
But why not take that gamble? Especially after the development of vaccines and precautionary measures being taken by health experts. We are currently witnessing a restarting point, and we could be cash into what promises to be the revolution of the 21st century.
On top of that, people are looking to make the most out of this situation. So, if we can capitalize on this, we could unearth the mysteries of doing business, which was laid to rest by the traditional approach.
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