Southeast Asian economies, including Vietnam, Philippines, Indonesia, Malaysia, Thailand, and Singapore, predicted to grow at 5.1% annually until 2034.

Report by DBS Bank, Bain & Company, and Angsana Council predicts Southeast Asian economies, including Vietnam, Philippines, Indonesia, Malaysia, Thailand, and Singapore, to grow at 5.1% annually until 2034, with over 600 million consumers and strong historical ties driving growth. However, increased protectionism and deindustrialization pose challenges. Singapore is estimated to grow at 2.5% annually, driven by advanced manufacturing, services, tourism, and a skilled workforce, but may face limitations due to demographic challenges, land and labor constraints, and higher business costs.

August 01, 2024
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