Finding the next golden goose

SOUTH-EAST Asia’s economy has expanded significantly over the past two decades, and the future looks rosy thanks to rapid digitalisation and increased investments from the West and China. But even as the road ahead appears promising, companies in the region need to watch out for the bumps and potholes, and innovate to stay on top of the game.

Favourable tailwinds

First, the good news. South-east Asia benefits from favourable demographics, such as a young and growing population, unlike many countries in Europe and North-east Asia. The workforce is digitally savvy and much better educated, while the regulatory environment has become a lot friendlier to both home-grown and overseas companies.

In a recent report, the Asian Development Bank predicts South-east Asia will accelerate from 4.6 per cent economic growth this year to 4.9 per cent next year, boosted by a boom in tourism and robust domestic demand.