The ASEAN region is a growing market and will play an increasingly important role in the global economy in the years ahead. ASEAN's markets are now more diversified, drawing more foreign direct investment (FDI) each year. In 2019, foreign direct investments into ASEAN grew by 5 per cent to a record level of US$156 billion.
The ASEAN region offers investors exciting opportunities. Source: Macrobond, UOB Global Economics and Markets Research, ADB Institute*
This reflects ASEAN's strong growth opportunities and its attractiveness. By 2030, the region's economy is expected to double to US$6.6 trillion from US$3 trillion in 2018. The young and growing middle class in its population of more than 650 million people is one of the world's fastest-growing consumer bases. Sixty per cent of them are under 35 years of age. ASEAN's fundamentals remain sound and strong.
*Note: 2030 forecasts for trade and FDI assume annual growth at half the growth pace in the last 20 years; Middle Income = daily expenditure of US$10 to US$100