Southeast Asia Outlook 2024

Southeast Asia Outlook 2024: Opportunity Beckons

CUSHMAN & WAKEFIELD

LONG-TERM DRIVERS LARGE MARKET POTENTIAL

STEADY LONG TERM ECONOMIC AND POPULATION GROWTH Indonesia offers huge market potential given her population size and fast growing economic growth. Fueled by increasing urbanisation and a large pool of young population, Philippines is poised to see stand-out economic and population growth.

URBANISATION AND DIGITALISATION POTENTIAL SEA has delivered robust growth and has potential to grow further. According to the e-Conomy SEA report 2023, SEA has achieved about US$100 billion in revenue in 2023 or grown 8 times over the past 8 years, across all digital sectors such as e-commerce and digital financial services.

2.0

1.6

Philippines

1.2

Malaysia

0.8

Indonesia

Singapore

Vietnam

0.4

Thailand

0.0

6.0

7.0

3.0

4.0

5.0

0.0

1.0

2.0

SIZE OF BUBBLE DENOTES SIZE OF ECONOMY

-0.4

Source: Moody’s Analytics, ASEAN Statistics Yearbook 2023, Cushman & Wakefield Research

Source: Moody’s Analytics, ASEAN Statistics Yearbook 2022, Cushman & Wakefield Research

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