US tech firms plan Asian expansion to secure talent

Companies in the US are gearing up to expand into Asian markets. They are in search of new talent, as well as customers.
By: | August 9, 2019

Some 85% of technology firms in the US have plans to expand internationally soon, with Asia-Pacific markets particularly enticing.

Survey firm Censuswide conducted the research on behalf of international employment solutions company Velocity Global. About 54% of the 500 companies surveyed said they operated in the US only, but this figure was expected to fall to 22% by the end of 2019.

It’s not just new consumers that technology firms are after. Access to talent is also a key reason to expand into international markets, second only to growing the customer base.

Ben Wright, CEO of Denver-based Velocity Global said that people are crucial to the technology,  that US tech companies want to ensure they have a presence in markets with the brightest talent.

In the Asia region, China is the clear front-runner for expansion, Wright said. About 57% of US organisations chose the country as the most important outside market, followed by Japan (41%), and India (38%).