By the end of 19th century, Japan started embracing western influences in regards to technology in order to become the centre of creativity and development. There was tremendous expansion and growth which made Japan one of the most successful exporters of the world. Increase in international business travel has only added up to the same.
Here are some reasons which throw a light on why Japan is the most important business hub today:
It’s a gateway to tap the Asian market
Japan offers over 127 million citizens which is a high amount of audience for your product. This can offer you a stable business market for foreign investments and trade. The country is also globally competitive when it comes to industries like healthcare, IT, Automobile and environment. The economy of Japan already boasts of world’s top companies already having their headquarters in Japan.
A highly educated workforce
Japan has over 600 reputed universities which implies that the country takes education quite seriously. The graduates of these prestigious universities are offered some of the most well-paying and resp0ected jobs. Not to mention that Japanese people are known to be hard working, well experienced and with great leadership qualities. If doing business in Japan, foreign employees often find great level of expertise, attention to detailing as well as immense knowledge.
Discerning consumers as well as customers
A well-educated and informed population implies to discerning customers. The household expenditure in Japan is one of the highest and proves how Japan can be a brilliant testing ground for new products. The customers in Japan are extremely well educated and hence they understand what is the difference between a product with high performance and low cost instead of being totally opposite.
Strong work ethics of Japan
The country is more of a collective society which lays a huge emphasis on group work, which means that every individual has a strong sense of belonging as well as responsibility towards their organisation. Leadership is important and for that a competent and hardworking employee will obviously be more willing to dedicate his time listening to staff issues and even assist them in their personal matters.
foreign organisations can hugely profit from the above mentioned benefits of doing business in Japan. Reaping the potential of these benefits comes with a specific need to understand the geographic and cultural diversity of the country.
Organisations who are employing people in Japan or working with Japanese on a regular basis should hence have a well-developed work ethic to be able to successfully deal with a myriad of cultural differences.
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Source:https://www.prlog.org/12758461-what-makes-japan-an-important-business-hub.html
