5 good reasons to dive in the Asian swimming pool market
In Vietnam, the GDP increases every year by around 6% (1). And this is but one example: Asian countries are showing progressive growth of their GDP and their populations are generally becoming wealthier. The construction, property and tourism markets are among those with the biggest growth. Three areas which impact the pool and spa sector. If you are looking for one good reason to develop your network in Asia, we will give you 5.
Construction, a sector in perpetual development
The first result of development in these countries is the construction of infrastructures, both private and public. It’s simple: construction is everywhere. Construction is one of the fastest growing markets in many Asian countries. In the Philippines, for example, the number of constructions has increased by 18.4% in only one year. (2)
A condominium with a pool, a format which appeals to the property market
With the population becoming progressively more wealthy, the property market is in steady progress too. One model is particularly popular: condominiums, those residential complexes composed of individual apartments which are particularly well-equipped, most often with large pools.
In Singapore, where the number of condominiums surpasses 340,000 (3), we no longer speak of a trend: they have become the standard. Condominiums with pools and tennis courts are popping up everywhere, to improve the lifestyle of inhabitants and, more particularly, to attract expats. The level of comfort in developed countries is influencing those who are in the midst of huge development. The sale of condominiums has thus increased, in one year:
- by 13% in Thailand;
- by 38% in Vietnam;
- by 42.1% in the Philippines. (4)
The sector of tourism and the hotel industries are booming
Tourism is also impacting the construction market. Hotels and resorts attract tourists, who have become more and more numerous in Asian countries over the years. A few figures: Indonesia welcomed around 9.5 million foreign tourists in 2014 (5), 6% more than in 2013. In certain countries, a part of the national budget is dedicated to promoting their territory. And in 2015, this budget reached 88 million dollars in Indonesia (6). This promotion effort results in construction of new hotels, more luxurious and elegant than ever.
These countries are aware that the priority for tourists is comfort: for hotels, pools and spas are essential. In the Philippines, 1,294 hotels (out of a total of 2,938) have a pool (7) and 16 new luxury hotels (Marriott, Hilton, Novotel, etc.) will see the light of day between 2016 and 2018 (8). Bali, another vacation paradise, accounts alone for more than 2,500 hotels with a pool (9). And in these countries, many hotels undoubtedly wish to become equipped…
Growing interest for gardens… with pools
Many Asian countries wish to reintroduce nature into their big cities, asphyxiated with pollution. Projects such as eco parks, buildings with garden rooftops and walls of vegetation are surfacing. In Singapore, for example, in 2016, 6 million dollars were spent on green space enhancements (10). Outside of the cities, facilities are also being developed in national parks. An opportunity for the installation of pools?
What is certain, is that these countries wish to develop a more pleasant lifestyle, in order to meet the needs of their citizens. During the Piscine Global Europe Exhibition of 2016, Phungdet Thanusak (society J.D. Pool) stipulated that the Thai were more and more keen on equipping their gardens and that a pool was considered the best means of doing so. They make the most of an increase in their budget, by improving their quality of life and this is done by spending more on the home and garden. Spending which continues to increase and which has done so by 1.6% each year, since 2009. (11)
However it is sometimes difficult for them to imagine integrating a pool into a small piece of urban land. The trend of the plunge pool is still in progress there, in comparison with Europe…
Public pools, a developing market
As not everybody has access to a private pool, it is the hotels which benefit from this craze: in Indonesia, they provide access to their pools to tourists (in return for an entrance fee, of course).
If this is common practice for hotels, it is because it is difficult to find a municipal pool. There are only 23 in Vietnam and Malaysia (12), and 24 in Singapore (13), where the ministry of sports wishes to facilitate access to these complexes… Proof that it is not a problem of will. In Thailand, in 2015, 359 permits for the construction of swimming pools were recorded (14). What more could one ask for?
To read: 6 breathtaking Asian swimming pools
The construction, hotel and wellness markets are on the rise according to statistics and this growth should last until 2030. Real opportunities lie in the pool and spa sector in Asia… So, what are you waiting for to plunge into the Asian market and develop your network?
(1) Focus Economics in Piscine Global – Vietnam, page 6 – Economical Indicators
(2) Source Piscine Global Philippines – page 20, Construction
(3) Hawsford, 3rd quarter 2016, Singapore
(4) Source Piscine Global – Philippines – page 20, Construction Condominium; Vietnam – page 23, Condominium
(5) Source Piscine Global – Indonesia – page 14, Statistics BPS.
(6) Source Piscine Global – Indonesia – page 14
(7) (8) Source booking Philippines and Around Philippines
(9) Source Piscine Global – Indonesia – page 23, Number of Hotel with Garden Pool
(10) Source Piscine Global – Singapore – page 18, Aid in Landscape Sector
(11) The 2015 Household Socio-economic Survey
(12) Vietnam Coracle, Independant Travel Guide. Piscine Global – Vietnam, page 18, Public Swimming Pool
(13) Sport Singapore, Singapore Government
(14) Swimming Pool Building Permit, 2015. Municipal Area, New constructions, National Office of Statistics – Building permit statistics
Crédit Photo : Pixabay