If South East Asia was to grow its self storage market to the same penetration levels as the USA that gives a capacity for over 350,000 facilities or a growth of 11,566%.
(PRWEB) January 16, 2014
Self storage in Southeast Asia is still in its infancy and therefore provides a great investment opportunity due to the potential growth available. So far in every country where a self storage facility has opened, the concept has worked successfully.
Self storage began in the USA in the 1960’s but only came to Southeast Asia in the early 2000’s. The concept has proven successful in Hong Kong, Japan, and Singapore, where opportunities still exist for expansion. Hong Kong, for instance, has grown from only 11 self storage facilities in 2002 to over 150 today. When benchmarked against the number of facilities per capita in the USA, Hong Kong still has the potential to grow by over 500%.
There are fewer than 3,000 storage facilities in Southeast Asia, serving a population of over 2 billion individuals. By way of comparison, the state of Florida in the USA has over 3,000 self storage facilities serving a population of only 19 million people.
The USA has over 50,000 facilities serving a population of 300 million people and 117 million households, or one facility for every 5,714 people. In Southeast Asia there are 2 billion residents, and only 3,000 facilities, or a ratio of 740,597 people per facility. If China, where the industry is nascent, is excluded, the rest of Southeast Asia provides just one self storage facility for every 290,735 people.
If Southeast Asia was to grow its self storage market to the same penetration levels as the USA, this would mean constructing over 350,000 facilities, or a 11,566% increase in the size of the industry.
The Asian self storage market is beginning to boom with new operators and investors coming on board and now is the time for you to become involved.
If you’re interested in understanding the opportunity for growth in this sector or to learn more about the self storage concept and how to invest and enter it successfully please register to attend the Self Storage Expo Asia today at http://www.selfstorageexpo.asia.
About The Self Storage Expo Asia
Self Storage Expo Asia is the only event in Asia dedicated to the emerging self storage market. In its 2nd year the event provides attendees with the opportunity to discuss business investment and operations with leading market experts. Held in Hong Kong on the 26-27th March at the Renaissance Harbour View Hotel. The founder of Steel Storage, Jon Perrins, initiated the Self Storage Expo Asia in 2013. Steel Storage provide investors with design, manufacture and construction solutions for self storage facilities throughout Asia, Europe and Australasia.