Five Underrated Countries Where Businesses Should Expand To
Whether you are looking to hire employees without an entity or start your own business, the UAE, Singapore, the Netherlands, Indonesia, and Israel all offer unique opportunities.
Global expansion has increased thanks to the technology-fueled global economy. Many countries that have a history of attracting foreign investment are now working through transitional periods. This gives other countries that weren’t as popular for global expansion the chance to shine.
If you are considering starting your own business or registering your company through HR outsourcing, keep reading to learn more about five countries that businesses and investors should consider in their global expansion plans.
1. United Arab Emirates
The United Arab Emirates (UAE) has garnered above $10 billion USD in foreign direct investment (FDI) within the past year. This is largely due to its political and economic stability. The UAE has low energy costs, an abundance of natural resources such as oil, and a diverse international workforce. The country holds no taxation on business and personal income and a strong financial sector. All of these drivers make the UAE a key market for businesses and investors. The UAE is full of talented employees offering you the opportunity to hire employees here and tap into the lucrative market.
Singapore received $77.6 billion USD in FDI in the last year, an increase of 2.5% from the previous year. Singapore has a competitive corporate-tax system and is centrally located within the Asia-Pacific area. The country boasts a stable pro-business environment and an elite education system. Singapore as the center of Asia-Pacific is a popular place for hiring employees through HR outsourcing. To overlook Singapore would mean overlooking an important market in the Asia-Pacific.
3. The Netherlands
The Netherlands is often overlooked due to its proximity to the United Kingdom. However, the country has attracted many projects in information and communication technology (ICT), service, transport and logistics, and etc. The Netherlands has a business-friendly government, solid infrastructure. What’s more, a workforce that speaks fluent English. Starting your own business in the Netherlands or hiring employees who can penetrate the Dutch market is advantageous for a number of industries.
Indonesia has developed into an emerging country for a number of reasons. Indonesia is a member of the Association of Southeast Asian Nations (ASEAN). It trades with nine other countries* with minimal or zero tax. Businesses engaging in Indonesia have access to a wide consumer base within Southeast Asia. A growing consumer middle-class in Indonesia means higher disposable income and more return on investment for Indonesian-based businesses. This also means a workforce that is educated and with the know-how to operate in with the ASEAN countries. Hiring employees in Indonesia is a good choice for companies looking to tap into some or all of the surrounding markets.
Israel has become a hot spot for start-ups and a prime location for research and development (R&D). Start-ups like Waze and Mobileye have all originated from Israel. And both of them have become tech giants. In 2017, Israel’s FDI grew by 20%, reaching an all-time high of $21.8 billion USD. Investors engaging within the R&D sector would find that Israel has a suitable market to start their business and expand in.
The countries listed above are still ‘hidden gems’ for many business people and investors. They could yield great results for your company with the global economy changing.
Whether you are looking to hire employees through employee leasing, HR outsourcing, or start a business in a foreign location, NNRoad can help your company expand into new markets around the world.