Why isn't there an Asian Google?
LOOKING at the statistics Asia seems like the natural home of the internet.
It has nearly 50% of the world's internet users and accounts for nearly one third of the global e-commerce market; the fastest broadband speeds in the world are based in Asia (one list places the top three countries as Hong Kong, South Korea, and Japan), and it has the quickest growth in mobile broadband of any region worldwide.
Despite all this, how many Asian internet companies can you name?
Where is the Asian Google or Amazon, jostling its Western competitors for market share in Europe and the US?
Although hardware companies from the region have been making strides recently the Eastern equivalents of the likes of eBay and Facebook - and they do exist - have barely any presence here at all. Why is this?
A new report commissioned by the Asia Internet Coalition and written by the Economist Intelligence Unit (an independent and specialised consultancy service within the Economist Group) has set out to answer these questions, finding out why "Asia's internet businesses seem to punch below the region's weight on the global stage."