Now more than ever, companies from all over the world are looking to ASEAN to expand their operations from within the bloc around Asia and globally.
Combined, ASEAN forms one of the fastest growing economic powerhouses and is one of the world’s top five economies, behind the US, EU, China and Japan*.
Why is ASEAN an opportunity?
Fast economic and trade growth
| Digital growth
| A sustainable recovery
|
|---|---|---|
ASEAN as a trade bloc is one of the top 5 economies in the world, with its GDP set to exceed US$4tn by 20251. Current exports total US$1.3tn, with forecasts predicting exports to rise to US$2.8tn by 2025, making ASEAN the world's fastest-growing trade bloc2, and is in the centre of the world’s largest free trade agreements including CPTPP and RCEP. | ASEAN is the largest digitally enabled population in the world with its eCommerce forecasted to grow to US$88 billion by 2025. In 2020 alone, 40 million people in Southeast Asia came online for the first time3. | ASEAN is one of the most susceptible regions in the world to climate risk and people are taking note; 58% of ASEAN issuers say environmental and social issues are very important to their organisation, one of the highest percentages among issuers globally4. |
* HKTDC Research ASEAN: Market Profile, 2021, ISEAS; 1. PwC, The future of ASEAN: Time to act; 2. ASEAN. Driving Your Ambition (Accenture ASEAN Consumer Research); 3. HKTDC, ASEAN E-commerce: Beyond the Pandemic, 2021; 4. Wharton, University of Pennsylvania, How Will ASEAN Members Cope with Their Climate Change Challenge? 2020
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References for figures displayed in HSBC advertisements in Bloomberg sites:
ASEAN’s digital economy is set to double to over USD350 billion by 20251
ASEAN is thriving as the world’s fastest growing trade bloc2
A greener ASEAN offers a trillion-dollar opportunity by 2030 3
1 https://www.bloomberg.com/news/articles/2021-11-10/southeast-asia-internet-economy-to-surge-to-363-billion-by-2025
2 HKTDC Research ASEAN: Market Profile, 2021, ISEAS
3 https://www.bain.com/insights/southeast-asias-green-economy-pathway-to-full-potential/
