Understand the cultural and socioeconomic influences that shape i...
Understand the cultural and socioeconomic influences that shape industry demand throughout Asia-Pacific, with local insight, market statistics and analysis ranging from strategic regional overview to in-depth coverage by country or city.
In 2023, Hong Kong’s economy rebounded, with 3.2% GDP growth, driven by private spending and inbound tourism; however, economic growth was below the Asia Pacific average. A slowdown is expected in 2024, amid such factors as slower tourism…
In 2023, India’s GDP growth rate slowed to 6.9%, but still surpassed the Asia Pacific average, driven by robust private spending. However, per capita GDP remained below the regional average. Looking ahead, the economy is projected to slow further in…
Real GDP growth in Taiwan slowed down to 1.3% in 2023, due to a drop in exports. The country still maintains an important position in the global economy, owing to its position as a leading supplier of machinery and electronic components to major…
In 2023, the Philippines’ real GDP growth slowed to 5.2%, but still surpassed the Asia Pacific average, driven by robust domestic consumption. The economy is projected to accelerate in 2024, with a forecast compound annual growth rate of 6.1% over…
In 2023, Indonesia’s GDP growth slowed slightly to 5.0%, but still surpassed the Asia Pacific average, driven by increased private and public spending, as well as investment. Despite a projected further slowdown in 2024, the country’s economy is…
In 2023, Myanmar’s real GDP growth slowed to 2.8%, due to the continued civil conflict. The blocking of trade routes is having a dramatic impact on exports of textiles and apparel, while the military government is having little success in attracting…
In 2023, GDP growth in Thailand slowed to 2.5%, as the country suffered from only a slow return in demand from its major export markets. Despite inflation dropping to 1.2%, owing to stringent monetary policies, economic performance remained below the…
In 2023, real GDP growth in Vietnam was 4.9%, outperforming the average for the Asia Pacific region as a whole. This was in part because of its robust industrial products offering, servicing global manufacturing supply chains with machinery parts and…
In 2023, Singapore’s GDP growth slowed to 1.1%, due to a decline in exports and the global economic deceleration, despite a rise in private and public spending. Moreover, Singapore’s fiscal policy in 2023 resulted in a budget surplus, due primarily…
In 2023, Sri Lanka’s economy contracted by 2.0%, despite an IMF bailout. GDP per capita remained notably lower than the Asia Pacific average, owing to high unemployment. Furthermore, inflation declined due to lower commodity prices and stricter…
The number of households is set to increase moderately, while the average household size will shrink in Azerbaijan over 2023-2028. Couples with children will remain the dominant household type but the fastest household expenditure growth is forecast…
The number of households is set to increase moderately, while the average household size will shrink in Cambodia over 2023-2028. Couples with children will remain the dominant household type but the fastest household expenditure growth is forecast to…
The number of households is set to increase moderately, while the average household size will shrink in Laos over 2023-2028. Extended ("Other") households will remain the dominant household type but the fastest household expenditure growth is…
The number of households is set to increase moderately, while the average household size will shrink in Kazakhstan over 2023-2028. Extended ("Other") households will remain the dominant household type and the fastest household expenditure growth is…
The number of households is set to increase moderately, while the average household size will remain unchanged in Uzbekistan over 2023-2028. Couples with children will remain the dominant household type but the fastest household expenditure growth is…
Insight into income, wealth and expenditure of consumers and households is vital in helping businesses make strategic decisions with regards to which country (or even which region within a country) to enter, which consumer segment to target, which…
In 2023, Bangladesh ranked 17th among Asia Pacific nations in terms of average gross income. Even though the income levels remained comparatively low, in 2023 the country recorded an accelerated increase in per capita disposable incomes, which grew…
The number of households is set to increase moderately, while the average household size will shrink in Turkmenistan over 2023-2028. Couples with children will remain the dominant household type but the fastest household expenditure growth is…
Insight into income, wealth and expenditure of consumers and households is vital in helping businesses make strategic decisions with regards to which country (or even which region within a country) to enter, which consumer segment to target, which…
Insight into income, wealth and expenditure of consumers and households is vital in helping businesses make strategic decisions with regards to which country (or even which region within a country) to enter, which consumer segment to target, which…