My outlook for 2009
As the year draws to a close I would like to extend my best wishes for 2009 to all our readers. The problem we all face next year is uncertainty about the future. The financial crisis that started on Wall Street this autumn has just begun to unfold in other parts of the world, and although there are many opinions about the short- and long-term effects, no one is really able to foresee whether it will affect us for only a few months or in the years to come.
The latest news from the market place in Asia is not very promising. China, as one of the key players in the region, has just witnessed its largest drop in exports in nearly a decade. At the same time, foreign direct investment has fallen by 36.5 per cent compared to November 2008. The Asia Development Bank in Manila recently predicted a significant slowdown in economic growth of more than 5 per cent for the entire region. Policy makers and industry players have to act swiftly if the industry is to withstand the crisis.
Prospects look rather uncertain for the dental profession. In recent years, dentistry in most markets has been driven mainly by high-cost procedures, like dental implants and cosmetics, but these sectors will probably be the first to suffer from the economic slowdown. One of the factors that could help the profession is health tourism. Ironically, fuel prices have seen a sharp decrease in the last two months, which could boost the influx of patients from overseas to destinations like Singapore, Thailand, and the Philippines.
Despite what happens in 2009, we will continue to put our best efforts into informing you of the latest developments in Asian and international dentistry. We hope that you will benefit from this knowledge, and encourage you to send us regular feedback on our articles and suggestions for future articles on matters that interest you. As official publishing partner of the FDI World Dental Federation, we will also be present at the Annual World Dental Congress in Singapore next year September. We look forward to possibly meeting you there or at future international events.
