Economies of Asia: Consumption, Supply and Demand

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East Asian economies have experienced paramount growth over the last decades with the rise of globalization. The liberalization of economies in Asia had paved the way for tourism to flourish which fueled the growth of Asian economies. Three specific industry sectors worth mentioning in this paper showcase the changes brought about by globalization to East Asian economies.

These topics may cover the concepts of medical tourism which serves in attracting foreigners in availing medical and tourist activities and services in Asian shores, the integration of western attractions such as Disneyland into the native culture and localization of McDonald’s food chain which spurred the growth of native Taiwanese identity by pressuring the latter to cope with global standards in the food sector mapped out by the international food chain.

This paper aims to analyze the consumption, supply and demand activities of the Asian region. Medical tourism in Asia has gained much attention over the years with the phenomenon concerning the high costs of treatments abroad, long waiting lists, affordability of international flights, favorable exchange rates and the aging baby boomers.

Patients, especially those from rich countries, would seek medical, dental or surgical care in Asian shores with the convenience of the internet in marketing services offered by Asian hospitals. The rise of companies which help bridge foreign patients and local Asian hospitals seem favorable for foreign patients who are still in doubt in terms of the services they will be availing.

The development of health care systems especially in the modernization of technology and privatization of health care in Asian countries have been essential in the marketing of medical tourism in Asia which brings about a huge chunk of cash inflow for the local economies. In medical tourism, advertisements are usually facilitated by the cooperative efforts of medical groups, airline companies and travel agencies.

In the past, medical practitioners would flock to western countries for better opportunities but the adjustment of salaries in Asian countries had prompted a new trend with Asian doctors and nurses coming back to their home countries and rendering their services at home.

Medical tourism in Asia is very popular among foreigners because most doctors in Asian hospitals have been exposed to western procedures and the rate of the services is less costly especially in terms of insurances (Connell, 1093 – 1100).

The success rates of surgeries are also comparable with those in western countries but the disadvantage for foreign patients is “complications and post-operate costs will be met in the home country” (Connell, 1093 – 1100).

Another advantage that makes medical services in Asia attractive to patients is in terms of waiting time where it is lesser compared to that in western countries thus distance offers alternatives to patients with a variety of operations accessible in destination countries which may not be readily available in home countries.

Medical tourism has helped Asian economies in terms of growth over the years as the quality of lifestyle and services improved with the increasing inflow of foreign currency. In terms of amusement parks and entertainment activities the franchise of the famous Disneyland has been perfected by the Japanese operators.

They were able to satisfy local customers’ preferences by understanding the native culture and subtly integrating such to the western concept of entertainment and fun. Though the Japanese operator, Oriental Land Company, insisted in duplicating the concepts of the original park (Brannen, 216 – 234) the Japanese version was marketed in a way to fit the likings of the locals.

The park is use as a destination for school outings as an alternative to visiting historical destinations such as Kyoto or Nikko. The concept of having the park was for locals to have a vacation at home (Brannen, 216 – 234). Tokyo Disneyland enables locals to have a preview of western culture without necessarily traveling all the way to the west.

Though the operators decided to make the concept more Japanese-friendly by incorporating delicately Japanese culture and experiences, all the main themes of the original park were adopted. In relation to strategies in uplifting economic growth the Japanese operator targets to attract locals in availing services in their homeland rather than in other countries.

The economic growth of the country depends on the inflow of money. The liberalization of economies post as a threat to local businesses for they may be crushed by foreign competitors. In order for them to be competent they must have a clear understanding of what their target markets want and need.

The advantage of Tokyo Disneyland is that it provides park goers the American experience of Disneyland which is also in favor of the Japanese culture and experience. Such strategic move welcomes locals to its door with the idea that it is a vacation at home.

The entry of McDonald’s food chain in the Taiwanese market has spurred growth in the food and service sector for it has outlined standards in terms of the needs of customers in food services. Before the food chain’s entry in the Taiwanese market, locals have been struggling with their own identity.

The coming of McDonald’s help uplift the Taiwanese local culture because the pressure among local restaurant owners to survive with McDonald’s concept of being hygienic, sanitized and with good quality of presentation made local businesses adopt the same concept in order to compete in the market.

Such event has helped boost the Taiwanese economy. An example is the prominence of chewing betel nuts which is a local Taiwanese practice. Before the coming of the McDonald’s food chain in 1984, such was considered derogatory among locals (Wu, 110 – 135).

McDonald’s can be attributed to the modernization of Taiwan as a country in the globalized world but local food chains and restaurants also symbolize the growth and embracement of the Taiwanese identity. The struggle of such search in the late 1950s to the early 1980s was concluded by the rise of globalization in the form of McDonald’s entry in the food industry.

Though every concept of the western counterpart of the fast food franchise was adopted in Taiwanese stores, locals seem to feel at home in their shops because of the comfort McDonald’s provides its customers. Such ambiance was later implemented by other local food joints thus improving the Taiwanese food scene.

The liberalization of Asian markets at the turn of the century has paved way to the growth of its economies where low labor costs of locals has become an advantage for corporations to compete in the global market. The competencies of medical groups in East Asia have proven to be an important source of income in economies.

Tourists venture out to Asian countries in seeking out medical attention at the same time enjoying tourists’ spots the chosen country has to offer.

The franchising of western businesses such as Disneyland and McDonald’s had also improved Asian economies where businesses are localized to serve the preferences of the target markets. These also spurred local businesses because the systems implemented by western businesses have been adopted by local businesses.

Works Cited

Brannen, Mary. “Bwana Mickey: Constructing Cultural Consumption at Tokyo Disneyland.” Remade in Japan. Ed. Joseph Tobin. New Haven: Yale University Press, 1992. 216 – 234. Print.

Connell, John. “Medical Tourism: Sea, Sun, Sand and Surgery.” Tourism Management 29 Nov. 2005: 1093 – 1100. Science Direct. Web.

Wu, David. “McDonald’s in Taipei: Hamburgers, Betel Nuts, and National Identity.” Golden Arches East: McDonald’s in East Asia. 2^nd Ed. James Watson. California: Stanford University Press, 2006. 110 – 135. Print.

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Economies of Asia: Consumption, Supply and Demand

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