ASEAN: Poised for accelerated economic growth

ASEAN: Poised for accelerated economic growth

Despite the differences in culture, socio-economic status and political systems, as an economic bloc, ASEAN is to be reckoned with.

1000

Related content

ASEAN: Poised for accelerated economic growth

The Association of Southeast Asian Nations (ASEAN) is a region of great diversity. Despite the differences in culture, socio-economic status and political systems, as an economic bloc, ASEAN is to be reckoned with.

This region has a combined gross domestic product (GDP) of US$2.4 trillion, larger than BRICS ex China, and the rate of GDP growth is forecasted to remain at over 5.5% into 2019.

The confluence of several positive drivers may accelerate the region’s economic growth over the next decade. These are:

  • Rising synergies from multiple forms of integration that are proliferating in the region
  • Increasing competitiveness of ASEAN’s economies
  • Fundamental turnarounds of once-laggard economies such as Myanmar and the Philippines.

Together with the region’s demographic advantages, investment rates could rise and if this investment also remains productive, economic growth should also rise.
 

Connect with us

 

Request for proposal

 

Submit

KPMG's new digital platform

KPMG International has created a state of the art digital platform that enhances your experience, optimized to discover new and related content.