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Taiwan service sector poised for further development

MICE events such as Display Taiwan are one of the 10 major service industries being strategically promoted by the ROC government. (Photo: Huang Chung-hsin)

• Publication Date：03/03/2012
• Source： Taiwan Today
• By  Meg Chang

Taiwan’s 10 major service industries are set to scale new heights on the back of strong showings last year and ROC government promotion programs planned for 2012.

“The service sector is the backbone of Taiwan’s economic development and responsible for the bulk of local job creation,” an official from the Council for Economic Planning and Development said March 2.

“This reality will become increasingly evident as upcoming promotion programs kick into gear and the industries are further energized,” the official added.

Last year was a good one for Taiwan’s service industries, with sector output reaching NT$9.4 trillion (US$32 billion) and accounting for 68.71 percent of gross domestic product. The industries employed nearly 6.28 million individuals, or 58.6 percent of the country’s entire workforce, up 1.78 percent from 2010.

“This strong showing was in line with expectations as the sector was promoted under the auspices of a Cabinet plan overseen by seven ministries and agencies beginning September 2010,” the official said.

The plan, which saw the industries make increasing headway in global markets, encompasses Chinese-language e-commerce; cultural and creative; cuisine; high-tech finance; international education; logistics; medical services; meetings, incentives, conferences and exhibitions; music and digital content; and urban renewal.

Notable achievements last year include the 167 Taiwan-based businesses that expanded their e-commerce businesses into mainland China, as well as the 13,914 foreign visitors who sought medical treatment on the island. The latter created over NT$3.4 billion (US$115.65 million) in sector output, an increase of 13 percent from 2010.

Joint promotion efforts by the Ministry of Economic Affairs and Government Information Office also paid dividends.

“The MOEA and GIO succeeded in drumming up interest from culture and creative industry heavyweights such as Japanese publishers Kodansha Ltd. and Shokakukan Inc., and U.S.-based Rhythm & Hues Studios,” the official said.

The Ministry of Education similarly played its part, setting up 11 Taiwan education centers in India, Indonesia, Malaysia, Mongolia, South Korea, Thailand and Vietnam.

But the government has no intention of resting on its laurels, the official said, citing an ongoing commitment to fast-tracking regulatory reforms and job creation programs.

“Fashioning a favorable business environment for sector development is essential if we are to keep Taiwan’s service industries on the up and up,” the official added. (JSM)

Write to Meg Chang at meg.chang@mail.gio.gov.tw