Businesses need to leverage megatrends in Asia-Pacific

ASIA-PACIFIC is home to the world's largest population, and is growing at a rapid rate. Within the next six years, the region will add 440 million people to its emerging middle class. This growing population will migrate to urban centres, creating 22 of the world's 41 "megacities" right here in Asia-Pacific.

And that is just the start. Our region is set to experience the fastest growth in affluent households, the largest increase in young members of the workforce, and the highest outlook for GDP growth. These changes are quickening the development - and impact - of three "megatrends" that are prevalent throughout Asia-Pacific. These megatrends are creating opportunities and growth that are waiting to be captured. And I believe that the digital transformation will be the key to us doing so.

The first is rapid urbanisation. By 2040, there will 50 megacities worldwide, with many of them in China, India and throughout Asia. Our existing cities will also grow; Singapore, for example, will reach a population of seven million people within the next two decades.