Insights Decoded’s Post

It's always interesting to take a step back and look at the broader picture of how the SouthEast Asian economy is faring from an outsider's point of view. This article from McKinsey & Company is definitely worth a read. SouthEast Asia’s economies continued to sustain their growth momentum in the first quarter of 2024. GDP grew in all economies, with growth in Indonesia, Malaysia, the Philippines, and Singapore increasing during this period, while Thailand and Vietnam recorded slower growth. Strong domestic demand, backed by tight employment markets and stable prices, along with strong performance particularly in tourism and a recovery in export markets helped to sustain growth in this quarter. An interesting read to say the least, and hopefully we can all continue to grow throughout 2024.

In the final quarter of 2023, Southeast Asia presented a compelling narrative of economic resilience, with Indonesia and its neighboring countries charting positive growth against global headwinds. The region is cautiously navigating into 2024, powered by robust domestic markets and a rejuvenating service sector, particularly in tourism and exports. As we look ahead, the strategic forecasts and ongoing developments signal a unified march toward greater economic stability and prosperity. Delve into McKinsey's comprehensive review to understand the dynamics at play in this region of vibrant potential: https://lnkd.in/gkghZw9i.

https://lnkd.in/g4if_CVu Riding the Wave of #Growth in #SouthEastAsia According to BusinessWorld Publishing Corporation Online, the Philippines is poised to achieve one of the fastest growth rates in Asia this year, with projections extending into 2025 by the #IMF. South East Asia continues to emerge as a powerhouse of economic growth, offering unparalleled opportunities for businesses and investors alike. Being present and active in this dynamic region is not just an option but a necessity for those looking to ride the wave of progress and innovation. Now is the time to engage, invest, and grow in South East Asia. Let's harness the potential of these rapidly expanding markets and contribute to the ongoing economic success story. #EconomicGrowth #SouthEastAsia #BusinessOpportunities #Investment #Philippines #IMF #Leadership #GlobalExpansion #Innovation #MarketTrends #CEOStrategy #EmergingMarkets #CorporateGrowth Italian Chamber of Commerce in the Philippines Unioncamere - Unione italiana delle Camere di commercio, industria, artigianato e agricoltura

🚀 A decade of growth 💹 🏆 The six leading economies in Southeast Asia, including Vietnam, the Philippines, Indonesia, Malaysia, Thailand, and Singapore, are projected to grow at an average annual rate of 5.1% over the next decade. 🔭 This projection was released in a report on August 1 by the Development Bank of Singapore (DBS), consulting firm Bain & Company, and the Angsana Council. 🎯 In the report titled "Navigating High Winds: Southeast Asia Outlook 2024 – 34", analysts predict that these top Southeast Asian economies will benefit from the region's consumer market of over 600 million people and strong ties with major trading economies. 🛡️ However, increasing protectionism in developed markets and widespread deindustrialisation due to shifting competitive dynamics could negatively impact these economies. 🔮 Specifically, the report forecast Vietnam, Indonesia, and the Philippines to be the faster-growing countries, with Vietnam continuing to stay ahead. ⏩ For Vietnam, positive drivers include a well-positioned export-oriented economy, highly diverse sources of FDI, productive inter-provincial competition, and high-quality workforce and education levels. ⚠️ Nevertheless, negativities remain, with the report listing them as credit weakness, energy and water shortages, and slow movement on green infrastructure, among others. https://lnkd.in/d7rze9BJ

The top takeaway from McKinsey's Q1 report for Southeast Asia: encouraging, sustained growth momentum across the region. Focusing on six IPEF partner economies, Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam, the regional overview highlights rising demand from trade partners including Japan and the U.S., strong labor markets, and increased foreign direct investment. Looking ahead, the Indo-Pacific region will continue to grow as a global economic engine. Read the full report here: https://lnkd.in/eemd4Ndb #IndoPacific #IPEF #Investment #Technology #IP3

We keep telling you about the growing economies and it's Vietnam that caught our attention this time. 🧐 This country is expected to grow at the fastest rate among Southeast Asian emerging economies, according to World Bank forecasts. 🔝 The World Bank has released a new forecast that states Vietnam's economy will grow by 6.1% at the end of 2024 and 6.5% in 2025. ⬆️ Read the full text here https://t.ly/wEh5r ↩️ #vietnam #emergingeconomy #economy #economygrowth #globaleconomy #partner #businesspartner #partnerinrussia #businesswithrussia #exportmarketing #marketing #newmarket #export #exim #trade #CONSULTANT #service #exporters #exportimport #importexport

ASEAN economic outlook in 2024

South East Asia opportunities as their economies continue to grow

Asian countries are striving to emerge as the biggest economy. But which are the top players in the market? Read our blog on our website to find out. Visit Here - https://lnkd.in/eprtd_ij #TradeFlock #tradeflockasia #asia #asiangrowth #economicpower #emergingeconomies #asiamarketleaders #biggesteconomy #economicrise #asiatopplayers #growingasia #asiapacificgrowth #economiccompetition

Southeast Asia: The Next Economic Powerhouse A recent report from Angsana Council, Bain & Company & Co., and DBS Bank reveals that Southeast Asia is set to surpass China's GDP growth and foreign direct investment (FDI) inflow over the next decade. With an expected average GDP growth of 5.1% annually until 2034, the ASEAN six—Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam—are poised for significant economic growth. In contrast, China's growth is projected to range between 3.5% and 4.5%. Key Highlights: --Vietnam is anticipated to lead the growth at 6.6%, followed by the Philippines at 6.1%. --Singapore, while slower, is still on a robust path with a projected growth of 2.5%. --The six economies attracted $206 billion in FDI last year, surpassing China's $42.7 billion. Charles Ormiston from Bain & Co. emphasizes the region's strong domestic growth and the strategic shift of production from China to Southeast Asia. This movement is creating a competitive environment beneficial for both businesses and consumers. As Southeast Asia continues to develop, it will be crucial for countries to invest in emerging sectors, foster a robust startup ecosystem, and strengthen capital markets. Additionally, the focus should shift from traditional low-cost incentives to sustainable, green energy solutions to attract high-quality FDI. Global Implications: With the dynamic shift in the global supply chain and increasing FDI, Southeast Asia's rise will have profound impacts on international trade and economic policies. #SoutheastAsia #EconomicGrowth #GlobalTrade #EmergingMarkets https://lnkd.in/dbnpyWrv