Market Research in Timor
East Timor is an island nation located in Southeast Asia. It is in the northern part of the Timor Sea.
The main languages are Portuguese and Titun. The two ethnic groups making up East Timor are Malay Polynesians as well as Papuans. Moreover, there are several ethnic groups of Malay ancestry.
More than half of the country practices the Christian religion. Altogether, the Roman Catholic Church is the most dominant Christian faith, followed by the Protestants and Evangelicals. Islam is another primary faith.
Timor uses the United States Dollar.
East Timor has a rugged terrain. Here you’ll find mountains, dry grasslands, savannah forests, and coastal lagoons. Due to the unpredictable climate, most agriculture is at a subsistence level. Still, the East Timorese grow crops such as cassava, cowpea, corn, and sweet potatoes. In addition, in the low lands, farmers use irrigation systems to grow rice. At least they can barter: farmers usually trade any surplus products for corn and rice. These two staples dominate the local market.
Coffee is East Timor’s most important cash crop and its second-largest export after oil. East Timor is the 40th largest coffee producer globally, and purchasers include the US through Starbucks. Other export crops include cocoa and cinnamon.
Dili is the capital of East Timor. It is also the largest city. Dili is on a small piece of flat land ringed by mountains on the north coast of Timor Island. The climate in Dili is tropical, with distinct dry and wet seasons. Since 1769 it has been the capital of Portuguese Timor. The city has always been the economic center and main port of East Timor.
Dili’s growing society is young, with most people being of working age. The local jargon is Teton, but the residents may also speak English.
The number of Internet users in Timor has increased. So have social media users and mobile connections.
Benefits and Strengths in the Market
- The Portuguese-speaking countries support East Timor.
- The Timor Sea has significant oil and gas reserves.
- Timor is an attractive tourist destination (natural sites, rich cultural heritage).
Reasons to Grow Your Business in the Market
First, the East Timor Court recently passed a foreign investment law, which aims at further simplifying business registration for foreign investors.
Second, the country has based its economy on offshore oil and gas search in the Timor Sea. Furthermore, it has created an oil fund to manage revenue clarity.
Another key point is the country’s strategic growth plan. As a matter of fact, this plan seeks to use its oil revenue to support long-term economic growth. It also helps with economic diversity and poverty reduction.
Last, some of the industries are lagging in development. By the same token, the potential returns from these industries are high. They include gold, oil (coupled with natural gas), and marble.
About Market Research in Timor
Do you want to start a business in Timor? If so, then it’s essential that you do Market Research. We set up focus groups in different areas of business in Asia. Likewise, we can conduct quantitative, qualitative, and strategic research for you. What’s more, this step is vital for doing business in East Timor. We will collect the needed details for you and your firm. Our interviews, surveys, together with other market research methods will ensure the success of your business.