Industries to Watch Out for Growth in Southeast Asia in 2023

Southeast Asia is home to several promising industries across its regional economy that will report quicker than the global average growth in 2023. Despite a concerning macroeconomic backdrop, various factors will continue to pull in investment and businesses to the region.

Southeast Asia, or the ASEAN (the Association of Southeast Asian Nations) region as more commonly referred to in Asia, is among the fastest-growing regions in the world. According to the Asian Development Bank (ADB), economic growth in Southeast Asia reached 5.5 percent in 2022.

However, a host of evolving and generally negative economic pressures is pushing down the growth forecast for the region by ADB – reflecting patterns elsewhere in the world – to 4.7 percent.

The International Monetary Fund (IMF) forecast for global growth was 3.2 percent for 2022 and 2.7 percent for 2023, meaning ASEAN is still…