While remote working is not new but the COVID-19 pandemic has made it a sudden priority. Recruiting talent regardless of where they are has become the fastest growing trend in the tech ecosystem with more startups using remote teams instead of resident staff.
Despite initial hiccups in setting up such structures, remote working has proven that its benefits are far more with visible evidence of employee satisfaction, increased productivity, and reduced cost of business operations. This new wave of having remote teams seems to be thriving more in the Southeast Asian region than the other parts of the world.
Over the years, Southeast Asia has emerged as the popular pool for remote workers which has proven to be beneficial for the expansion and growth of startups. Here are a few reasons why remote working is thriving in Southeast Asia.
Growing tech and startup ecosystem
The region has made significant progress in digital and technological innovation development. Countries like Singapore and Malaysia are the frontrunners in this highly competitive entrepreneurial space mainly because the market scenes of these countries promote the ease of doing business.
The local startups are pulling up strings in this region to become major disruptors in the global market. As a result, attracting more investors. The rapidly growing economy of the region is creating more opportunities for remote workers. With better internet connectivity, infrastructure, resources, and training, it has become easy to build remote teams for scalability and effective growth of local businesses.
Access to a wider pool of talent
Southeast Asia has a big talent pool, countries like Singapore, Malaysia, and Thailand are actively investing in the younger generation to build a tech scene. The regions talent pool accounts for more than 50 percent of its massive population.
With more startups coming up in the growing economy, it creates a favorable system, collaborative work structure, and flexible work schedule to nurture the upcoming talent and in the process building a well-organized network.
Low cost of living
The cost of living in the region is comparatively less than the other countries such as Europe and the US. One can afford a comfortable lifestyle while working remotely. The expenditure on a remote worker in countries such as Thailand, Vietnam, and Indonesia could be as low as $1000 on average in a month.
However, in some countries in Southeast Asia such as Singapore consumables are costlier than in other countries in the region.
With a low cost of living, it becomes easier for the local businesses and startups to set up their offices and hire remote workers which cost them less as compared to the cost of full-time staff. The remote teams decrease the expenses incurred on office overhead since the staff won’t have to commute to the office daily for work. This also creates scope for other organizational expansion and investment.
Another plus point of the region is the urban scenery with free WiFi spots, co-working spaces, and a well-structured public transport system. The bustling digital communities with fast internet connectivity and ample networking opportunities make the region as perfect place for remote workers and local entrepreneurs to work from home.
Conclusively, the trend of remote working is here to stay in Southeast Asia and will possibly thrive further as more businesses and startups are entering into this new ecosystem.