ASEAN ECONOMY
Bustling Business Belt 

Over the last decade, ASEAN has become the most-targeted trading destination in the world. With resources and manpower aplenty, the region also accounts for low-manufacturing costs, trained workforce and a rising middle class, making it a leading consumption-driven market.
The constitution of the ASEAN Economic Community on 31 December 2015 was exclusively carried out with a view to integrate the region into the world’s biggest trading bloc, making way for tight competition and affable trade agreements.

According to Asian Development Bank’s ASEAN market profile published by HKTDC Research in November 2016, the region has a population of more than 628 million and recorded a GDP of around USD 2,432 billion (or 2.4 trillion) in 2015.

A recent survey jointly published by AMCHAM Singapore and the US Chamber of Commerce also notes that between 2014 and 2016, ASEAN was the most important destination for 53% of its respondents’ worldwide revenues.

Rapid urbanization coupled with a younger demographic makes it one of the key markets for long-term projects. ASEAN’s multi-cultural identity and ease of starting business has brought in many investors from the Americas, Europe and Asian powerhouses like China and India.

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