Beyond Megacities: How Tier 2 Cities Can Redefine Tech Company Expansion
The global technology landscape is witnessing a significant shift as companies expand beyond saturated megacities into Tier 2 locations. This transformation, driven by cost pressures and targeted government initiatives, offers compelling and actionable insights for emerging technology hubs worldwide. China’s Hangzhou Success StoryOnce in Shanghai’s shadow, Hangzhou transformed through: Ireland’s Strategic DispersalCork and Galway’s emergence […]
Next-Generation Industrial Parks: Redefining Value Propositions for the Digital Age
As manufacturing enters an era of unprecedented technological transformation, industrial parks must evolve beyond traditional offerings and become next-generation industrial parks. According to McKinsey’s 2023 Global Industrial Park Survey, while 82% of parks offer basic utility infrastructure, only 23% provide advanced digital capabilities that modern manufacturers seek. Digital Twin Integration and Virtual PlanningAccording to Deloitte’s […]
Navigating the Rise of Protectionism: Strategies for EDOs
In recent years, the global economic landscape has witnessed a resurgence of protectionist policies. From increased tariffs to stricter foreign investment regulations, this shift poses significant challenges for Economic Development Organizations (EDOs) aiming to attract foreign direct investment (FDI). Context: The rise of protectionism is evident in various forms: Examples: Strategies for EDOs in a […]
Digital Twins: Revolutionizing Site Selection for Economic Development
Imagine showcasing your region to potential investors through a living, breathing virtual replica. This isn’t science fiction; it’s the power of digital twins, and it’s transforming how economic development organizations (EDOs) attract investment. Digital twins in economic development are dynamic virtual representations of physical assets, processes, or systems. For EDOs, they offer a game-changing approach […]
Beyond Incentives: Building a Business-Friendly Ecosystem
A thriving business ecosystem fosters economic growth, innovation, and community development. While financial incentives play a role in attracting enterprises, a holistic approach to creating an environment conducive to business success yields more sustainable results. This article outlines key strategies that help economic development organizations and regions in building a thriving business environment, and can […]
Best Practices for Engaging Diaspora Communities: Lessons from Successful Initiatives
Diaspora communities hold a special place in the heart of their homelands, carrying with them a unique blend of experiences, skills, and deep-rooted connections. These communities are not just expatriates; they are potential ambassadors, investors, and mentors who can spark innovation, boost trade, and enrich cultural exchanges. For economic development teams aiming to harness this […]
The Hidden Toll of Overcapacity: A Personal Perspective on the Impact on Export-Ready SMEs
In the labyrinthine world of global trade, the discourse frequently gravitates towards multinationals’ strategic manoeuvres, the competitive edges of various nations, and the perpetual flux of international relations. Amidst this cacophony, one persistent issue often evades the scrutiny it warrants: the overcapacity of a certain Asian country and its pernicious impact on domestic firms, particularly […]
Strengthening SMEs with Regional Supply Chains: The Role of EDOs and Government Support
In the fast-paced, unpredictable world of global trade, the current shift from sprawling global supply chains to more localized regional ones presents both challenges and opportunities for our resilient SMEs (Small and Medium-sized Enterprises). As businesses strive for resilience and endeavour to outmanoeuvre risks, regional supply chains offer a promising avenue for SMEs to integrate […]
Strength in Numbers: The Power of Industry Clusters
What is a Business Cluster? A business cluster is a geographic concentration of interconnected companies, suppliers, and associated institutions in a particular field or industry. These clusters are characterized by a strong network of interdependent firms that collaborate, compete, and share knowledge, resources, and expertise. Michael Porter popularized the concept of business clusters, arguing that […]
Overcoming the Chinese Export Challenge: Strategies for Competing in Global Markets
As a consultant working closely with Western exporters aiming to enter markets in the Middle East, India, the ASEAN region, and Australia, I frequently encounter the formidable challenge posed by Chinese competitors. These companies often dominate markets with their highly competitive pricing, supported by vast economies of scale and substantial government backing. This competitive landscape […]