Southeast Asia to outpace China's GDP growth and foreign investment: report

Think tank projects 5.1% average growth next decade in six key economies

GDP for the ASEAN six is expected to increase by an average of 5.1% annually until 2034, outpacing China's projected growth of 3.5% to 4.5%. (Source photos by Ken Kobayashi and Reuters)

TSUBASA SURUGA, Nikkei staff writer

August 1, 2024 12:02 JST

SINGAPORE -- Southeast Asia is likely to outpace China's economic growth and inflow of foreign direct investments over the next ten years, a new study led by a Singapore-based think tank showed, as the region benefits from growing demographics and a global supply chain shift.

The Southeast Asia Outlook 2024-2034 report, which was released on Thursday by Angsana Council, U.S. consultancy Bain & Co. and Singapore's DBS Bank, projected the gross domestic product of six regional economies: Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.