With Asean on the rise, European businesses cannot risk playing catch-up

MORE than any other country or region in the world – think China, India, and Europe – European business leaders continue to regard South-east Asia as a market that has become indispensable in terms of global revenues over the past two years, with many expecting a boom in profit for their operations in the region.

This rings true especially after Asean’s spike in domestic demand as most, if not all, economies fully reopen after the Covid-19 pandemic.

Against the backdrop of ongoing geopolitical tensions, rising inflation and global supply chain disruptions, a recent poll of European companies found that the majority of them are bullish on Asean’s prospects, citing the region’s strong economic recovery from the pandemic and an improvement in infrastructure across the region as key reasons.