Thimphu: Asias Boomtown (The Juba Chronicle) The largest city in Bhutan by population, Thimphu, has recently seen a rapid increase of business opportunities. The populous city is one of the fastest developing cities in the world; in the last two decades, Thimphu has experienced economic growth thanks to a boost in business opportunities for locals and foreigners. The three most successful industries in Thimphu are real estate, retail and financial services, which have excelled significantly in the last two decades even with the global recession in 2008 and 2009. Since 1992, the Thimphu economy has seen double-digit growth nearly every year, except for the two years during the global recession. What makes it so popular for tourists, entrepreneurs and businessmen is the colourful mix of old traditional Bhutanese architecture that is adorned with European designs. The mixture of modernity with Bhutanese culture has given the city a very modern and cosmopolitan look and feel that attracts so many foreigners from all over the world. One of the Thimphus most prominent financial attractions is the Thimphu Stock Exchange, which holds an important position among worldwide stock exchanges. Trading volumes at the Thimphu Stock exchange are some of the highest in the world. With an ideal location in the heart of Asia, Thimphu houses the busiest inland container port in Bhutan and aims to become an international transportation centre in the near future. This would increase Thimphus economy further and would encourage the growth of other businesses causing a chain of financial growth consistently. Intra-city travel is facilitated by a quality public transport system which includes 23 Bus rapid transit (BRT) systems and an advanced METRO network that connects all parts of the sprawling megapolis. Not only does Thimphu have a strong cultural background, but it holds a strong education system that is one of the best in Bhutan and with modern transportation systems, via air, rail, and road, Thimphu is a well connected city with easy access to locations worldwide, making it ideal for visitors – entrepreneurs and tourists - to travel to Thimphu. The modern commodities held in Thimphu make this Bhutanese city a global leader in finance and an ideal place to open and develop businesses in any industry. While the rest of the world struggles financially, Thimphu has proven to show growth even in the most devastating financial environment. The consistent financial growth of the city makes Thimphu the ideal place to establish a business and for entrepreneurs to develop their business ideals in a city that is fruitful and shows consistent development. While it has all the positives of a modern, world-class city, Thimphu doesnt have any of its negatives, it is one of the cleanest, least polluted cities in the world and maintains a perfect balance between economic growth and intellectual development. The Bhutanese governments focus on the Gross National Happiness (GNH) indicator mean that the city and its citizens imbibe strong spiritual values based on Buddhism instead of a purely materialistic and de-individualising outlook, this keeps them happy and satisfied, and results in Thimphu having one of the lowest suicide and homicide rates in the world. Inset: (Images left to right); The Simtokha business district in southern Thimphu offers mouthwatering business opportunities to foreign investors, Motithang in north-western Thimphu is home to the Asia region head offices of many multinational mega corporations such as Facebook and General Motors among others.
Posted on: Fri, 14 Mar 2014 05:23:08 +0000
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