--- title: "ASEAN in Focus: Economic Outlook, Insights & Opportunities" description: The center of the global economy continues to gravitate east, accelerated by unprecedented GDP growth and the rise of foreign direct investment (FDI) throughout the Asia Pacific (APAC) region. In particular, the growth of FDI has been a key driver of success for the emerging economies of the Association of Southeast Asian Nations (ASEAN), which are the focus of this special report. image: https://lennardyong.com/hubfs/ASEAN%20Guide%202022_LP%20BG_EN.jpg --- [Skip to content](https://lennardyong.com/en/public-relations/asean-in-focus-economic-outlook-insights-opportunities#main-content) - [Background](https://lennardyong.com/#background1) - [Hobbies/Passions](https://lennardyong.com/#hobbies1) - [Biography](https://lennardyong.com/#biography1) Open main navigation Close main navigation - [Background](https://lennardyong.com/#background1) - [Hobbies/Passions](https://lennardyong.com/#hobbies1) - [Biography](https://lennardyong.com/#biography1) - [Connect with me](https://hk.linkedin.com/in/lennardyong) Open search Close search [Connect with me](https://hk.linkedin.com/in/lennardyong) This is a search field with an auto-suggest feature attached. - There are no suggestions because the search field is empty. # ASEAN in Focus: Economic Outlook, Insights & Opportunities The center of the global economy continues to gravitate east, accelerated by unprecedented GDP growth and the rise of foreign direct investment (FDI) throughout the Asia Pacific (APAC) region. In particular, the growth of FDI has been a key driver of success for the emerging economies of the Association of Southeast Asian Nations (ASEAN), which are the focus of this special report.  Originally founded as a political bloc of five countries in Southeast Asia, ASEAN has evolved into a 10-member economic powerhouse. The ASEAN Economic Community (AEC) is now home to some of the world’s fastest growing markets, where hundreds of millions of people have joined the ranks of the middle class. ASEAN’s rapidly rising middle class is driving domestic consumption and fueling the demand for more discretionary and aspirational products and services – with a focus on quality, convenience and choice. In the upcoming decades, ASEAN will write a new growth story. Bolstered by AEC’s economic integration agenda – as well as the recently passed landmark Regional Comprehensive Economic Partnership (RCEP) – the region’s rich resource reserves, established manufacturing base and rapid industrialization will continue to attract investors from around the globe.  With Tricor Group’s ASEAN in Focus: Economic Outlook, Insights & Opportunities, we hope to briefly introduce each market and provide inspiration for tapping into bourgeoning opportunities. ![ASEAN horizontal](https://lennardyong.com/hs-fs/hubfs/ASEAN%20horizontal.jpg?width=4880&height=2177&name=ASEAN%20horizontal.jpg) ## **Why ASEAN?**   ASEAN has been traveling on a remarkable journey over the past four decades. After weathering the 1997 Asian financial crisis, ASEAN's growth rate stood at 6% in 2000. Even through the 2008 global economic crisis, the regional economy continued to grow steadily from 2000 through 2019, before the COVID-19 pandemic, at an average annual growth rate of 5.7%. With a combined gross domestic product (GDP) of almost US$3.2 trillion in 2019, ASEAN collectively is ranked as the third largest regional economy in Asia and the fifth largest economy in the world. Despite a global slowdown triggered by the COVID-19 pandemic, ASEAN continues to be an attractive region for foreign businesses and investors, particularly because of its strong economic growth and burgeoning middle class and consumer markets. The International Monetary Fund projects that ASEAN’s economy will grow 5.6% in 2022 and 6.0% in 2023, outpacing the projected growth of global GDP. ## **Overview of ASEAN Markets** The ASEAN markets each present their own unique challenges and opportunities. If your business expansion strategy includes one or more of these markets, it is critical to understand some background information on the economic climate, tax codes, labor landscape and culture.     [Thought Leadership](https://lennardyong.com/en/public-relations/tag/thought-leadership) ## Related posts [![](https://lennardyong.com/hs-fs/hubfs/Imported_Blog_Media/ASEAN%20horizontal-Jan-24-2024-05-36-09-5528-PM.jpg?height=500&name=ASEAN%20horizontal-Jan-24-2024-05-36-09-5528-PM.jpg)](https://lennardyong.com/en/public-relations/asean-in-focus-economic-outlook-insights-opportunitieshs_amptrue) [Radio Interviews](https://lennardyong.com/en/public-relations/tag/radio-interviews), [Thought Leadership](https://lennardyong.com/en/public-relations/tag/thought-leadership) ## [ASEAN in Focus: Economic Outlook, Insights & Opportunities](https://lennardyong.com/en/public-relations/asean-in-focus-economic-outlook-insights-opportunitieshs_amptrue) Lennard Jan 23, 2024 5:08:59 PM The center of the global economy continues to gravitate... [Read more >](https://lennardyong.com/en/public-relations/asean-in-focus-economic-outlook-insights-opportunitieshs_amptrue) [![](https://lennardyong.com/hs-fs/hubfs/hqdefault.webp?height=500&name=hqdefault.webp)](https://lennardyong.com/en/public-relations/cross-border-deals-in-china-defy-covid-19-pandemic-as-international-investors-eye-greater-bay-area-strong-economy-growth) [Media Interviews](https://lennardyong.com/en/public-relations/tag/media-interviews) ## [Cross-border deals in China defy Covid-19 pandemic as international investors eye Greater Bay Area, strong economy growth](https://lennardyong.com/en/public-relations/cross-border-deals-in-china-defy-covid-19-pandemic-as-international-investors-eye-greater-bay-area-strong-economy-growth) More than 10,000 new foreign-invested companies set up in China in the first quarter, an increase... [Read more >](https://lennardyong.com/en/public-relations/cross-border-deals-in-china-defy-covid-19-pandemic-as-international-investors-eye-greater-bay-area-strong-economy-growth) [![](https://lennardyong.com/hs-fs/hubfs/defaultbfmy.png?height=500&name=defaultbfmy.png)](https://lennardyong.com/en/public-relations/transforming-customer-onboarding-with-know-your-customer) [Radio Interviews](https://lennardyong.com/en/public-relations/tag/radio-interviews) ## [HELPING CLIENTS LEVERAGE OPPORTUNITIES](https://lennardyong.com/en/public-relations/transforming-customer-onboarding-with-know-your-customer) [Read more >](https://lennardyong.com/en/public-relations/transforming-customer-onboarding-with-know-your-customer) [linkedin-in icon](https://hk.linkedin.com/in/lennardyong) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Lennard", "url" : "https://lennardyong.com/en/public-relations/author/lennard" }, "dateModified" : "2024-01-26T09:24:57.713Z", "datePublished" : "2024-01-23T22:08:59.000Z", "headline" : "ASEAN in Focus: Economic Outlook, Insights & Opportunities", "image" : [ "https://lennardyong.com/hubfs/ASEAN%20Guide%202022_LP%20BG_EN.jpg" ], "mainEntityOfPage" : { "@id" : "https://lennardyong.com/en/public-relations/asean-in-focus-economic-outlook-insights-opportunities", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject" } } } ```