Economic Journalism in Asia: Contest

IE Business School launches its first edition of the Asian version of the Economic Journalism contest. The contest attracted 1000 journalist in its 3rd edition in Latin America and recognizes the article and media that best fosters economic culture among the population of the country in question by explaining how global trends and movements are impacting the spending power of its citizens.

The last 20 years have seen unprecedented levels of development and economic transformation in practically all the countries in the Asian continent. This growth is evidenced not only by macroeconomic figures but also by the change in the day-to-day lives of hundreds of millions of Asians, duly documented and chronicled by the media in countries throughout Asia. These narratives of the different phases of economic growth include accounts of the first arrivals of foreign business, mass exportation to the West, and the major inroads made by Asian multinationals in the rest of the world since the year 2000, not only in the form of exports but also in terms of purchases and production in every continent.

The media has born witness to and provided a running commentary on this success story, providing reflection and making its own contribution to the growth process.

As the countries of Asia have undergone economic growth, Asian media organizations have assigned ever greater numbers of journalists to coverage of this field and have increased the size their economy sections significantly. The proliferation of dailies and journals specialized in business and economy, along with websites and/or television channels, is a further sign of a society and market that is growing.

The press has played a key role in strengthening the economy, because thanks to news published about successful business corporations, new production technology or other related information of interest, it has helped to inform and educate the population about finance, business opportunities. An increasingly large middle class needs more information of this type in order to take important decisions. Without economic journalists and business press there is no social well-being and growth.