Resource Center

A critical aspect of investing in emerging markets is the need to discriminate between short-term growth fads and sustainable development. As Paul Krugman famously discusses in his article, “The Myth of Asia’s Miracle,” it is often very easy to get caught up in aggregate GDP growth statistics without looking deeper into what is driving those statistics. This can lead to an investing-with-the-herd mentality and the systematic under-appreciation of some of the most interesting and lucrative opportunities across emerging markets.

Famous for its high-quality powder snow, Japanese ski resorts, are less renowned for their bar and club scene. Niseko is fast-proving itself to be an outlier to this reputation.

China presents the “biggest beginner ski market in the world” according to the China Ski Industry White Book. Its burgeoning, affluent middle class is increasingly taken by Western fashions, such as skiing, which encourage a healthy, active lifestyle whilst acting as a mark of social class, much like in Europe.

Niseko – to the layperson it may not come to mind as easily as Chamonix, Aspen, or Val D’Isere when naming ski locations. But if you know snow, you must know Niseko.