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.
Trading with Asia-Pacific
74% of ASEAN firms consider markets
in APAC among their top 3 most important
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
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).
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.
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
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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