CITY VIEWS: WHY IS ASIA PACIFIC OVERTAKING EUROPE AS A WEALTH HUB?
CHRIS PEACOCK | LLOYD’S
“There is higher demand in Asia because the economy is growing, but there is still also far more poverty. As the population is so large there is a standard of life in certain areas in Asia which would not be acceptable here.”
WILLIAM LOW | WINDSOR INSURANCE
“Because there is a higher population in Asia it has a higher work force who are willing to work for lower wages. There are also more raw materials therefore the production costs are lower.”
ADRIAN HARRIS | AMSPHERE
“The population is huge in Asia – previously it has been behind in the world markets, however it is now gathering momentum. Asia is now becoming more up to date with the western comforts and cultures whilst keeping their work ethic, which is contributing to their increasing wealth.”