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This helps stimulates the growth in these regions. Outsourcing to China is still highly prevalent in the world market due to lower costs however these cost saving margins are not as big as they once were, and outsourcing is moving to other countries in Asia like Malaysia/Philippines as they begin to develop.Poor growth is compounded by Austerity measures and lack of confidence from consumers. Greece and Spain in particular still present a high risk.Europe is still the market with the slowest growth and carries the biggest risk this market is likely to only improve slightly in 2013.Asia’s market growth was emphasised in a recent market survey which showed approximately 30% of core business worldwide comes from Asia – this is expected to increase even further in world markets to over 35% driven by growing markets in Malaysia, Indonesia etc.Countries like Indonesia in the Asia market will continue to grow and develop in the region.Asia is still the biggest growth market worldwide with China leading way and stimulating regional growth which is expected to be around 7% in 2013.
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Below is my summary of the event and the key issues we could face in the 2013. Having recently attended a market forecast networking event in Hong Kong there were some interesting points made and some promising predictions for Asia, both in terms of the Construction market and other economic markets. Having just celebrated Chinese New Year it’s a great time to look at the year ahead and reflect on the year gone by. Asia Market Forecast – A Bright 2013 Posted by Tim Cole on Thursday, February 28, 2013