Southeast Asia Outlook 2024

Southeast Asia Outlook 2024: Opportunity Beckons

CUSHMAN & WAKEFIELD

LONG-TERM DRIVERS MANUFACTURING WAGES REMAIN ATTRACTIVE IN SEA

COST ADVANTAGES IN SOUTHEAST ASIA AND INDIA

WAREHOUSE AND OFFICE USING EMPLOYMENT TO GROW IN MOST SEA COUNTRIES Indonesia, Vietnam and Philippines warehouse-using employment is expected to see robust growth. This bodes well for warehouse demand. Thailand’s ageing population would crimp employment growth prospects, though warehouse employment is expected to remain steady over the long term.

While there are significant cost advantages in SEA and India, compared to China, talent availability and expertise will require time to develop in emerging SEA.

Source: IMA Asia, Cushman & Wakefield Research

Note: Office-using employment consists of number of employed persons in the information & communication and financial & insurance sectors

Source: Moody’s Analytics, Cushman & Wakefield Research

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