“The economic power in the world is shifting”

There is an old saying in English that goes: yesterday is history and tomorrow’s a mystery! Joking aside, the global economy status has drastically changed in the past 10 years. We’re talking ASIA here. Asia is NOT the NEXT BIG THING. Asia is the TODAY of the world’s economics, because it’s happening HERE and NOW.

In this blog, we’ve put together a list to showcase Asia’s REAL STRENGTH in regard to the macroeconomy, so let’s have a look at the Top 5 Asian Economies together!

The city of Shanghai - China is one of the fastest growing economies
Shanghai, China is one of the fastest growing cities in the world

1. China

This one doesn’t really need an introduction whatsoever. China is not only the NUMBER 1 Asian economy, but the world’s leader in 2017 according to the International Monetary Fund (IMF). Although criticised by many for being a ‘bubble economy’ (the overexploitation of natural resources that will eventually run out), China is definitely LIVING IN THE MOMENT and the facts stand as proof – China currently occupies world-leading positions on all major economic branches (agriculture, natural resources, industry, and services).

Read more: Top 5 Reasons Why You Should Study in China

Tokyo, Japan is one of the craziest and busiest cities in the world - Tokyo is the world's most populated city
Tokyo is the cultural center of Japan

2. Japan

Japan is a country to be admired. Pretty shaken up after World War II, Japan has risen like crazy in the past 50 years and currently occupies the position for the second largest economy in Asia and number 4 in the world. What made this possible was mainly the amazing collective mentality and spirit of the Japanese people that basically focus on community rather than the individual. Something we all should learn! Now it’s undoubtedly the land of robotics and automatization, a truly market-oriented economy!

India is hosting some of the world's best cultural festivals
India has emerged as the fastest growing major economy in the world

3. India

Great things are currently happening in India. The third biggest Asian economy (6th in the world) is looking a lot into the future. A young population sustaining the country for at least several generations to come, India’s future is definitely looking bright. They are currently rocking the economic sectors of agriculture, industry, being one of the leading countries in the world in IT & software sector as services.

The infrastructure is extremely modern and advanced in South Korea - South Korea is one of the most technologically advanced countries in the world
South Korea has very advanced and modern infrastructure

4. South Korea

South Korea is another interesting economy in the Far East. Currently ranked 4th in all Asia and 14th in the world last year, it’s definitely another one to watch. Its rise is absolutely spectacular, as it has converted from one of the most disfavored countries in South-West Asia to a G-20 member. And guess what – that only took one generation! Impressive, right? Although a mixed economy, shipbuilding is what South Korea is globally famous for, as well as their great automobile industry, with brands like Hyundai, Kia or SsangYong.

Read more: Top 5 Reasons to Study in South Korea

Marina Bay is stunning - A must see is Marina Bay in Singapore
Marina Bay in Singapore has undergone a transformation of epic proportions

5. Singapore

Last but not least, Singapore is going to end our amazing list of the Top 5 Asian economies. Singapore is simply… EXQUISITE. That’s the word – exquisite. Want to know what business people think of Singapore? Well, these would be the adjectives they use to describe to describe the easiness of business in Singapore: ‘pro-business’, ‘most open on the globe’, or ‘taxation paradise’. Singapore’s economy depicts a highly developed society, main sectors producing wealth being the services (banking, real estate, etc.). And since an economy is only driven by an outstanding educational system, it can firmly be stated that education in Singapore is flawless.

Find out more about our study destinations in Asia by clicking on the link below

This text was written by The Study Abroad Portal!

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