In 2022 HSBC surveyed 1,500 companies from China, France, Germany, India, the US, and the UK, and found that 90% of foreign companies operating in the SE Asia (ASEAN) region plan to grow their presence. Two-thirds expect organic growth of 20% or more over the next 12 months!
Southeast Asia is primed for growth. With a population of 680 million people: 50% more than the EU and more than twice as many as the US, it is a population that has become increasingly affluent and educated, with an increasingly skilled workforce and competitive wages.
A young, upwardly mobile population means a growing consumer class in the years to come. According to a World Economic Forum report on ASEAN, Southeast Asia will add about 140 million new consumers and is set to become the world's 4th largest economy by 2030.
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