If your company wants to tap into an unexplored market, where should you start? Major business cities like Zurich, London and New York are widely known and well-celebrated – but what about the rest of the globe?
Getting off the beaten track can do wonders for your business. It helps you target new economies, research launching pads for new products, and store and gain fresh business perspective. In addition, when heading on your next business trip, why not combine work with some sightseeing and travel? If you head to a slightly more adventurous location, you’d be in a prime condition to make the most out of the opportunity.
If you can, see if you can incorporate some sights and attractions into your business itinerary to wow your colleagues and partners. Here are three undiscovered destinations for business travel, with some reasons why you should consider paying them a corporate visit.
Indonesia is something of an up-and-coming emerging market. Its President, Joko Widodo, made Fortune’s list of the world’s 50 Greatest Leaders a few years back and it’s thought a combination of moves including cutting fuel subsidies and the commissioning of large-scale infrastructure projects -to be funded by private investors, (1) not to mention a burgeoning middle class, make Indonesia pretty hot property. Its chief industries include petroleum and natural gas, textiles, clothing and footwear, mining, cement, chemical fertilisers, plywood, rubber, food and tourism.
Where to go: Indonesia’s tourist destinations also tend to be its main business hubs. Jakarta is top of the list, but there’s also Surabaya (East Java), Medan (North Sumatra) and Palembang (South Sumatra).
Rumours of Brazil’s demise have been greatly exaggerated. While the country has been in a bad recession for a few years, there are signs that improvement is around the corner. Latin America’s largest economy, fuelled by economic reforms, is forecast to grow by four per cent a year over the next three years, the country’s Finance Minister Henrique Meirelles, recently forecast (2) during big events at the International Monetary Fund and World Bank. One of Brazil’s major success stories is its agribusiness sector – last month, it hit a US$ 7.41 billion surplus in the month of September, a 23.7% increase compared to 2016.
Where to go: For every mega city like São Paulo and Rio de Janeiro, there’s an emerging business hotspot. Uberlândia, Joinville, Ribeirão Preto, Sorocaba and Londrina are now being talked up (3) as Brazil’s next generation of places to get things done.
If your stock-in-trade is found in the sea, consider doing business in Iceland. The tiny island is currently enjoying a boom in its mackerel numbers – today they are recognised as one of the country’s most commercially important fish, (4) in terms of both value and volume. Last year, the fish was the third largest catch for the country, bringing in $103 million, or eight percent of the nation’s total catch value. Of course, Iceland’s economic collapse in 2008, at the height of the global financial crisis, is well documented. While it caused the collapse of its banking sector, things are improving, with Iceland’s marine resources, workforce and strong infrastructure regarded as providing a strong basis to overcome current economic problems. (5)
Where to go: Consider Hafnarfjörður, a seaside town just 11km south of Iceland’s capital that’s named by Alpharooms as one of Iceland’s best alternative destinations. (6) Its ‘welcoming and relaxed’ feel make the town a stopping off point for people from all over the world, which makes it pretty much perfect for a business trip.