Tiger EconomiesTiger EconomiesThe NIC’s ~ newly industrialising The NIC’s ~ newly industrialising

countriescountries

Aim: To find out where Tiger Economies Aim: To find out where Tiger Economies exist and what they produce. exist and what they produce.

Otherwise known as NIC’sOtherwise known as NIC’s

Located in East Located in East Asia where the Asia where the main attraction main attraction for investors is for investors is low-cost labour low-cost labour and some skills.and some skills.

Name 5 countries Name 5 countries that fall into this that fall into this economy. economy.

Advantages of East AsiaAdvantages of East Asia

Cheap labour supply – workers are Cheap labour supply – workers are reliable and work hard for long hours. reliable and work hard for long hours. They work in factories where health They work in factories where health and safety requirements are well below and safety requirements are well below those in the UK. those in the UK.

Click on photo for a short Click on photo for a short video about new industry in video about new industry in South Korea 4:03South Korea 4:03

TransportTransportAll countries in the region have access to All countries in the region have access to the main shipping routes. Most goods are the main shipping routes. Most goods are transported in containers ships around transported in containers ships around the world. This reduces cost. the world. This reduces cost.

MarketsMarkets

Most factories export Most factories export their products their products although the although the expanding Asian expanding Asian economy means that economy means that more and more people more and more people here are starting to buy here are starting to buy the products as they the products as they earn more moneyearn more money

GovernmentGovernment

They encourage the import of capital They encourage the import of capital (investing money) and technology. This (investing money) and technology. This leads to job creation and more money leads to job creation and more money recouped in taxes. recouped in taxes.

The Top 4 for growthThe Top 4 for growth

1.1. Hong KongHong Kong

2.2. SingaporeSingapore

3.3. TaiwanTaiwan

4.4. South KoreaSouth Korea

Click on picture above for Click on picture above for short video on High Tech short video on High Tech industry (Samsung) in South industry (Samsung) in South Korea 2:56Korea 2:56

Making.…..Making.…..

Heavy Industry Heavy Industry

Steel, ships, petrochemicals.Steel, ships, petrochemicals.

Light IndustryLight Industry

Electrical goods, clothes and footwear. Electrical goods, clothes and footwear.

Singapore is fast running out of land and cheap labour, so Singapore is fast running out of land and cheap labour, so businesses are investing money and know-how to set up businesses are investing money and know-how to set up factories on a neighbouring Indonesian island. Click on the factories on a neighbouring Indonesian island. Click on the image for a short video about Singapore’s Low Cost image for a short video about Singapore’s Low Cost Manufacturing Base 2:30Manufacturing Base 2:30