By Karishma Vaswani
THE INTERNET was supposed to kill off books. But across much of Asia, a booming market tells a .
The region doesn鈥檛 have a special affinity with reading. Demand is being driven by something more practical: a desire to get ahead. It鈥檚 also by , an expanding middle class and the wider adoption of English as a second language. Textbooks, exam preparation materials, and self-help titles are among the . Promoted by social media, and in some cases encouraged by , books aren鈥檛 just a pastime 鈥 they鈥檙e tools for economic advancement.
Other countries struggling with weakening reading levels should take note. In much of Asia, reading is reinforced by education systems, politicians, and personal ambition. That helps explain why books have proved more resilient here than in some other parts of the world. Reading doesn鈥檛 survive just because people love books 鈥 it survives when systems make it necessary.
And while that鈥檚 depressing for those of us who read for pleasure, the data show that the strategy is working. The Asia-Pacific region is now the world鈥檚 largest publishing market, generating an estimated $400 billion to $420 billion in combined print and digital revenues in 2024, according to fresh from the International Federation of Reproduction Rights Organizations (IFRRO). The region is forecast to expand 8% to 10% annually through 2030, more than double global growth rates. Even as newspapers and magazines decline, books remain resilient, making up about 60% of traditional publishing revenues.
The contrast with Western markets is stark. The American publishing industry generated about in 2023 to 2024, and the UK . Europe and North America together now represent less than a quarter of global publishing revenues on a comparable basis.
Literary festivals across and are helping to boost interest, while physical books have quietly become status symbols in some circles, even in this digital age.
India is the of how much potential there still is. The publishing market is estimated at just over $11 billion, notes IFRRO, and is projected to grow strongly through the end of the decade. The country is also the for English-language books, although literature in regional languages and dialects is also flourishing. Global hits such as Arundhati Roy鈥檚 memoir (recently shortlisted for the ) and 鈥檚 (which won the 2022 International Booker Prize) show the appetite for Indian literature is strong, even beyond the region.
China shows how state policy can actively . Its publishing market, estimated at more than $200 billion, dwarfs others. The government has made reading a by introducing regulations to promote it, expanded reading spaces, and launched . President Xi Jinping wants China to become a . Books are a part of that 鈥 even if what people read remains tightly controlled.
Social media, often blamed for the decline of books in other parts of the world, is helping to amplify the habit. Douyin, of TikTok, has become a major channel for book discovery and sales, integrating e-commerce directly into its platform. Influencers and live streamers now promote titles to . BookTok in countries like , the US, and the UK often focuses on young adult and genre fiction but on Chinese platforms span a much wider range, including educational titles and self-help works.
It鈥檚 encouraging that this is happening in large economies like China and in emerging markets with historically strong reading cultures such as India, but this is by no means the end of the story. Surveys suggest that on average, Asians read fewer books than their counterparts in the West. In fact, India is the only Asian nation that makes it to a top that read the most per capita and that statistic likely reflects only the habits of the middle and upper classes.
Embedding reading more firmly in education systems, the way that Asia鈥檚 enormous school and university systems have done, could help to generate a steadier demand. Measures such as Xi鈥檚 top-down directive, prioritizing reading in education policy and viewing digital platforms as partners in the marketing and sales, could also help.
Governments must act to build on the steady progress. Singapore鈥檚 Prime Minister Lawrence Wong set a good example for this year鈥檚 World Book Day when he took to social media to reading had shaped his life. More politicians should follow suit.
Despite remarkable progress, the region is home to around 46% of the world鈥檚 illiterate youths and 61% of illiterate adults. Boosting literacy levels, especially in less developed parts where access to books and education remains scandalously low is a priority.
Reading forms critical thinking that helps our societies advance, innovate, and, indeed, govern. It remains one of life鈥檚 deepest sources of intellectual and personal enrichment, as your columnist can attest. If that habit fades in the next generation, the loss will be felt not just in our culture, but in how all of us think and act.
That would be a bleak ending indeed.
BLOOMBERG OPINION
