Asia is fast emerging as the new home of innovation and technological advancement, with various countries in the fast-growing Southeast Asia region (including Singapore) competing to become the next Silicon Valley.
Not only is this creating significant job opportunities in the region, but it’s also allowing new technologies to take hold in Asia and improve the everyday households across the board.
Make no mistake; new technologies have definitely helped individuals to develop side hustles and secondary income streams in Asia. But how exactly is this the case?
Tap Into a Global Marketplace
In an age of global connectivity and powerful remote communication tools, the world has become incrementally smaller and more accessible over time.
From social networks to virtual meeting tools such as Skype and Zoom, it’s now possible to promote your skills to a global marketplace and accrue income from all over the world.
Whether you’re looking to sell bespoke and handmade items or market yourself as an international copywriter, it’s now possible to reach out to a global audience and make contact with potential collaborators globally, which accepts international payment for your services and shipping goods seamlessly.
This also enables employers to access a wide range of international talent, without necessarily incurring additional costs.
Access the Financial Markets
Asia is also a hotbed for international investment, as it’s home to some of the fastest-growing emerging currencies in the world and a number of high-profile technology stocks.
In the case of the forex market, the Asian trading session is actually one of the most popular around the world, with assets such as the Japanese Yen, the Australian Dollar, and the Russian Ruble traded prolifically during this time.
We’ve also seen a dramatic increase in forex trading volumes in Asia during the digital age, thanks to the proliferation of online platforms and mobile apps such as the MT4.
Remember, currencies are also classed as derivative assets, so it’s possible to speculate on prices and profit without owning the underlying financial instrument.
Monetise Your Existing Assets
In the modern age, greater connectivity and the rise of service providers such as Uber has created a unique opportunity for individuals to monetise their existing assets and make considerable sums of cash.
Historically, buying a car meant monthly bills and owning a depreciating asset, but private hire ride platforms such as Uber and Lyft enable you to leverage your vehicle as a way of generating income.
This principle is prevalent across the globe, where people can now harness their everyday assets to work for employers and open up a viable secondary income stream.
This is becoming increasingly commonplace in Asia, while the trend is likely to become even more pronounced as the region continues to benefit from new and cutting-edge technology.