Taiwan

Although neither Russia nor Ukraine number among Taiwan’s leading trading partners, the European conflict has already dealt a blow to the territory’s economy. The conflict is likely to contribute to a rise in inflation, which is now expected to exceed 2% this year.

Non-fungible tokens (NFTs) are pulling real-world assets into the metaverse and giving them value in the content-owner-driven world of Web 3.0. But since the metaverse is content-only and everyone can create items from scratch, or even virtualise real-world performers and let them live forever, why not go all-virtual?

Digital marketplace platform Toby offers services ranging from dance lessons and physiotherapy to cleaning and home renovation. Established in 2016, it currently has nearly a million users across Hong Kong, Taiwan and Singapore and hosts more than 80,000 businesses and service providers.

Online transactions have become popular, ranging from purchases of daily necessities to home appliances and furniture.

Sales of consumer goods such as watches and clothing serve as a gauge for the economy. The worldwide COVID-19 pandemic made consumers cautious, but now, as markets begin to recover, Hong Kong watch brand Glitzy Owl, which initially rolled out in Japan and Taiwan last year, is setting sights on its home market.

A year and a half after the COVID-19 pandemic started impacting activities around the world, big events now appear to be back with a bang and their success – or otherwise – will prove something of a litmus test for the potential relaunch of the exhibition sector as a whole.