Electronics growth, tourism recovery put Asean on course for strong finish to 2024
The region charted resilient growth in the first half of the year on robust domestic, external demand and strong foreign investment inflows
SOUTH-EAST Asia may be poised for a strong finish to the year, driven by a resurgence in the global electronics cycle and a robust recovery in tourism.
An upturn in the global electronics cycle is expected to buoy growth in Singapore, Vietnam, Malaysia and the Philippines while continued tourism recovery on the back of more liberal visa policies will likely lift many boats, particularly that of Thailand, Malaysia and Singapore.
New orders for consumer electronics globally have started to “accelerate very notably”, said HSBC’s chief Asia economist Frederic Neumann.
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