Travelling is a way of expanding your horizons, exposing yourself to different cultures, different landscapes and different ways of doing things, which could be hugely beneficial to your business. These different ways of doing things can influence how you carry out your business, as well as enabling you to make new contacts and perhaps source new products.
Some cities are very well known for being hives of business and industry, but there are others that are relatively new to the business scene. The Middle East, for example, presents huge opportunities for business, thanks to a demand for foreign investment and a need for people with technical skills. Many businessmen, both from abroad and from the region, such as Fahad Al Rajaan, have recognized the area’s potential. The culture is very different to the West, however, so a business trip here would be an eye-opener – essential if you are thinking of trading in this region.
Singapore has been named one of 2016’s top business cities by the Global Business Travel Association (GBTA) and is practically an essential stop-off for anyone wanting to do business in Southeast Asia. There are several reasons for this. The first is that it is considered to be the most open in economic terms in an international arena; there is huge potential in terms of investment opportunities; and it supposed to be the number one in Asia for its low levels of corruption. It also has a very stable currency with low interest and inflation rates. It is important to know business etiquette for Singapore; punctuality is a key requirement for business meetings for example, and small talk is not encouraged, as it is perceived as encroaching upon a person’s privacy.
Mexico is another up and coming location, ideal for business trips. It has been given a boost in business regards by GBTA deciding to host their annual conference in Mexico City earlier this year. Any concerns you may have regarding security can be mostly dismissed, as huge strides have been taken to improve this area, although it is still advisable for business travelers to blend in with the local population as much as possible.
India is another favorite of the GBTA, and it is easy to see why. The business sector here has grown significantly over the last fifteen years and it has been estimated that the country’s economy will equal the United States by the year 2050. Language barriers are very low as the majority of the population has at least a working knowledge of English, but the culture may present some challenges. For example, Indians prefer formal business meetings, with titles being used rather than first names.
If you are looking to travel for business, then consider regions that may not have previously occurred to you. The Middle East, Asia and other culturally different areas may just offer the business opportunities you have been waiting for.