Unolabo Skillmarket is the potential and perspective of the Asian labor market
Today we want to highlight the regions in which the Unolabo team sees the greatest perspective for implementation of our Skillmarket concept. Where on the earth there is a great potential for the development of the digital labor market and what are the Unolabo benefits? Let’s figure out.
Asia is our priority
Yes, it is the Asian region where we see the greatest potential for the growth and development of the digital labor market. And it is this region that we plan to orient on. Why? Let’s break our answer into separate topics to achieve the proper clarity of the question.
Volumes of human resources
Of course, in the beginning, we need to mention the enormous human resources concentrated here. It will be enough to simply single out Indonesia with a population of more than 257 million people, the Philippines (more than 102 million people), Vietnam (more than 92 million people), etc. And it is not even including China and India, where the population has exceeded a billion long ago. That’s why the labor potential of this region is undoubtful.
Asia (Southeast Asia particularly) is a region with a predominantly young population, which is also growing rapidly. In Indonesia, 60% of the population are people under the age of 30. And the population of the Philippines by 44% consists of people younger than 19 and 75% — under 40.
Young people are the most active category of Internet users, and this will be of key importance in the labor market in the near future. Moreover, young people are well aware of the remote work idea and will use all the benefits of freelance.
Where to promote the freelance platform if not in the “youngest” region with a multi-million population? The choice of Unolabo becomes obvious.
The scope of the Asian labor market is not the only and the most important advantage of the region. Today many Asian countries are on the verge of a large-scale restructuring of their economies with a focus on digital technologies or already are actively modernizing.
Here the researchers of the School of Fletcher at the University of Tufts (The Fletcher School at Tufts University) are quite indicative. This year University experts published the global report Digital Planet 2017, which, among other things, presented the ranking of countries in terms of their involvement in digitalization processes. This so-called Digital Evolution Index (DEI) included 60 world states as the research objects.
So, the top ten of this world ranking includes three representatives of the Asian region: Singapore (6th), South Korea (7th) and Hong Kong (9th place). At the same time, in terms of the intensity degree of the digital technologies implementation, the expansion of Internet coverage, etc. (DEI Momentum Score) Asia is at the top of the list — China and Malaysia are on the first and second places respectively.
The intensity of the digitalization
When it comes to this criteria the situation of some other countries in the region seems interesting. In the general DEI list, the Philippines occupies 51 line, and in DEI Momentum Score — 11th. Even more illustrative is the example of Bangladesh. In the general DEI rating, this country closes the list being in the 60th place. But according to the intensity of digital technologies implementation, it is on the 8th position, according to DEI Momentum Score.
On the topic of the relevant examples Indonesia is worth mentioning (45th in the general rating and 14th in the DEI Momentum Score). This summer the Indonesian government developed the state program of the country informatization — Go Digital Vision.
According to this program, by 2020 Indonesia intends to grow into one of the largest digital economies in Southeast Asia with an annual turnover of $130 billion. In particular, the government plans to help to create about 1000 new IT companies with a total capitalization of $10 billion. Special attention Go Digital Vision gives to involving small and medium-sized businesses in the online field.
According to Liz Sutjiati, advisor to the Minister of Communications and Information Technology of Indonesia, today only 9% of Indonesian businesses use digital technologies, and 80% of them use exclusively social networks. And the government intends to radically change this state of things.
Such plans of the Indonesian government seem more than just attractive to the labor market. After all, the business developing on the Net will contribute to the emergence of new demanded jobs. According to the Singapore investment company Temasek Holdings, by 2030 in Indonesia, the labor market can potentially employ about 280 million people.
The Unolabo perspectives
As we can see, today the Asian region hides the greatest potential for expanding the Internet audience. Informatization promotes the development of local economies, the emergence of new business projects. Here, medium and small businesses are transformed into serious sources of a large number of new jobs.
The large labor market capacity, favorable demographic picture, improved access to the Internet (according to experts, more than 3 million new Internet users appear in the region every month) indicates it is this place, where a huge demand for services on remote work will appear soon enough. That is why Unolabo also intends to focus its priority on Asia. And not only on remote work, but also on office vacancies, but this direction requires an independent article.
With the easily accessible Internet, people of different skills will have much more opportunities to realize their skills in the labor market with the greatest benefit for themselves. Especially young people starting from 16. With the freelance platform Unolabo, it can be done as simply and secure as possible.
Asia is a huge layer of practically unused manpower. We are sure that by entering this market with the right positioning Unolabo will be able to become a leading freelance platform with a multimillion-dollar total turnover of labor transactions. This gives both a huge social effect and serious benefits for investors.