When looking at drivers of economic growth, ASEAN is a region sometimes overlooked for its potential and overshadowed by economic powerhouses such as China and the United States.
Yet in recent years, ASEAN has emerged as a dynamic and rapidly evolving economic hub, displaying resilience in the face of unprecedented challenges, including the COVID-19 pandemic.
According to the Asian Development Bank, South-East Asia‘s GDP growth for July 2023 was projected at a robust 4.6%, compared to the slower rates of 1.1% for the United States, 0.5% for the Euro area, and 0.6% for Japan.
The region’s strength resides in its diversity of languages, cultures, economies and, most critically, its vibrant and increasingly tech-savvy young population. In its journey to fast-track through the traditional stages of development and fulfil its potential as a global economic centre, Read more…
