With Asia Pacific continuing to be the growth engine of the world economy, it is no surprise that many international law firms are enlarging their footprints across the region. The increasing opportunities in various types of law practice have been met at the same time by decreasing regulation in a number of countries, offering international firms access to new markets. Given the ongoing challenges in Europe and the US, there are added incentives to increase exposure in the region. However, while on the one hand, opportunities are there for expansion, on the other, ongoing uncertainty in the world economy is leading to firms becoming more costs conscious. Whether opening offices in new countries or expanding within a market where there is already a presence, law firm decision makers are increasingly scrutinising outgoings as long as some grey clouds on the global economic landscape remain.
Source : Knight Frank