What're are the key risk factors for resort development in Asia?
Good Answers (3)
In my view, the key risk for resort development in Asia is the generalization of 'Asia'. For example, Singapore and Malaysia are as different from each other as Switserland and Turkey. Project and business risks will be very different in each country.
I suggest to do a first run for each of the (relevant) cultural regions in Asian cultures, and do a separate risk analysis for each country within. The cultural borders run largely together with religion and language groups. This matters, because the way Asian countries are governed, business is done, people interact etc. has a lot of commonalities within each region, and will be very different compared to other regions.
It is further important to define risk. Corruption and local differences in regulations are no risks - they are known facts that can be acted upon. Risks are elements that are not happening yet, but may hit your venture in the future.
Once you have a general picture of the key risks per region, your next key risk factor -and there is only one- is the actual location. You can control the architecture, staffing, advertising etc. but location will be your root risk for further analysis. Access to staff, reliability of local government, water safety, environmental disaster, terrorism, competition, … are all related to where your resort is located.
You may also want to check www.projectriskasia.com to get a first idea of the project risks.
good luck.
Jo
Kiron B.
Project Portfolio & Change Management Practitioner
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Hi Andrew -
Assuming you are looking at both project & business risks, here are a few:
1. Funding sustainability & predictability
2. Currency fluctations
3. Political stability
4. Infrastructure reliability
Ciao!
Kiron
(http://kbondale.wordpress.com)
1) Culture. I cannot stress less how this can be a big factor in Asian communities. To many, resort is still a new concept, approached with doubts.
2) Its no secret but corruption. Some countries such as Singapore has stricter measures but some others depend on it to move projects forward.Its inevitable.
3) Country-specific laws and regulations.
Kiron has stated the remaining important factors.
More Answers (1)
Christine H.
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