ASEAN Navigator
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Businesses in ASEAN are optimistic about the future, with 81% projecting growth in the next year. Longer-term, businesses are even more bullish. 33% of ASEAN firms are expecting to be ‘high-growth’ – that is, they are anticipating growth of 15% or more over the next five years – a sentiment shared by only 26% of firms globally.
Highlights Strong optimism paves the way to long-term growth
Trading with Asia-Pacific remains crucial
74% of ASEAN firms consider markets in APAC among their top 3 most important trading partners.
Vietnam (cited by 32% of ASEAN firms) and Singapore (31%) are considered by businesses globally to be gateways into markets across APAC.
The future of sustainability
76% of ASEAN companies believe they have a role to play in delivering the UN’s SDGs, compared with 63% of firms globally. 33% of ASEAN firms say investments in sustainable infrastructure development is the most relevant SDG for their business (more than other regions globally).
Protectionism and geopolitics
76% of ASEAN companies say they feel an impact from geopolitics, much higher than the global average (64%).
Geopolitics are affecting some industries more than others. 85% of firms in ASEAN in the oil, power and metal industries said they felt an impact. Across agriculture, fishing and forestry 83% cited an impact.
Breakthrough tech
AI is seen by a majority as valuable for improving productivity (55%), the quality of products and services and reducing costs (both 47%).
ASEAN firms believe 5G will help with increasing speed to market (46%), improving productivity (45%) and improving product and service delivery (36%).
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Asia-Pacific
Middle East, Africa & Türkiye
HSBC’s Navigator 2019 surveyed 9,131 business decision-makers in 35 markets. Research by Kantar for HSBC August and September 2019.
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