Home to some of the world’s largest economies, Asia Pacific is set to lead global economic growth in the next five years. What is driving the growth of Asia Pacific now?
As we enter a post-COVID period of moderate economic growth and tighter monetary policies globally, a bigger wave of progression for Asia Pacific is anticipated to push through. Emerging Asian countries, riding on the outsized scale of rural-urban migration, are blazing the trail in global urbanization. At the same time, consumer spending growth is forecast to be the strongest globally in the emerging markets of India, Southeast Asia and China into the next decade.
Asia Pacific has been the leading region through all economic downcycles over the past two decades, proving its economic resilience. It is set to continue this positive trajectory toward achieving robust economic gains in the next few years, with the region projected to contribute to almost 40 percent of global GDP by 2030.
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