Seatrium’s Post

The inaugural #Fortune500 Southeast Asia list is here. Our first-ever ranking of the largest companies in this part of the world, reflects a dynamic and fast-changing region—one that boasts a GDP of $4 trillion, and one whose core economies are growing notably faster than those of Europe or the U.S. Southeast Asia is also taking on far greater significance in the global economy. In the wake of the COVID pandemic, a host of Global 500 multinationals have shifted more of their supply chains to Southeast Asian nations. See the full list here here 👉 bit.ly/4c6sZuL

Asia's economies have emerged as the world's new majority, with the region now accounting for more than half of the global total of many key metrics used to measure the world economy. This majority position gives Asia an opportunity to influence and shape a new era not only for its own economies, but for the world. As we look toward this new era of progress, businesses in Asia will have a critical role to play in enabling growth that is both sustainable and inclusive. Have a look at McKinsey & Company's new collection where we explore the opportunities the region has to lead in the years ahead: https://mck.co/487Pxcl #FutureofAsia #FoA #SustainableInclusiveGrowth

The 2024 Global Competitiveness Ranking was topped by Singapore and Switzerland. Europe had 6 six countries in the top 10 while the US dropped out of the top 10 for the first time. The key attributes exhibited by the top economies were: - Agility and adaptability in navigating uncertain times - Balance of productivity and quality of life for citizens - Faster decision-making and efficient business efficiency in the Government Bigger economies were slow to react to changes with the US as the world's largest economy which held the top position from 1997 to 2009 exiting the top 10 positions for the first time. Similarly, China, Canada, India, Germany, France and the UK did not find a place in the top rankings. While the UAE got a top 10 ranking. #Competitiveindex

Asia's economies have emerged as the world's new majority, with the region now accounting for more than half of the global total of many key metrics used to measure the world economy. This majority position gives Asia an opportunity to influence and shape a new era not only for its own economies, but for the world. As we look toward this new era of progress, businesses in Asia will have a critical role to play in enabling growth that is both sustainable and inclusive. Have a look at our new collection where we explore the opportunities the region has to lead in the years ahead: https://mck.co/47Zx4yA #FutureofAsia #FoA #SustainableInclusiveGrowth

Future of Asia

Asia on the cusp of a new era (McKinsey Global Institute) Asia, having thrived due to its economic diversity and global connections, is entering a challenging era. The region, which accounts for 59% of intra-Asian trade and 57% of global GDP growth (2015-2021), faces five key challenges: potential trade tensions, a shift in technology value beyond manufacturing, aging populations in high-productivity economies, a large-scale net-zero transition due to its industrial base and energy demands, and unsustainable low capital returns amid rising costs. Despite these challenges, 82% of respondents in an Asia Business Council survey are optimistic about the new era, although 74% believe significant strategic shifts will be needed. With vigilance and vision, Asia can navigate this transition and continue its path of progress. #2024 #asia #asiapacific #apac #apacregion #economy #asiaeconomy #mckinsey

Asia’s diverse and dynamic economies are a considerable force in the world, and the world is fascinated to know whether the region’s momentum can continue in what may be a more challenging period ahead. In this latest short report in our series on the “cusp of a new era”, McKinsey Global Institute looks at Asia’s prospects in five key domains. We conclude that although Asia starts a new era in a strong position, at the nexus of new forces unfolding globally, the region could experience a heightened version of new challenges. https://lnkd.in/g8WCh7uc

More than 40% of Chinese enterprises planned to expand into overseas markets in 2022, which is higher than the 20% in 2019 and 30% in 2020, and the percentage will still rise in 2023, according to a report released by Accenture. Chinese enterprises going overseas is a gradual process, with the gradual deepening of going global, enterprises at different stages will face different challenges. These enterprises are the top players in China's economy, and providing them with appropriate services is something we should consider at this moment.#China #enterprises #goingglobal

Asia is entering into a new era with a leading role. A new report from the McKinsey Global Institute highlights how the region, which accounted for 57% of global GDP growth from 2015 to 2021, is at center stage of significant changes in the world. Over the past three decades, Asia has thrived on global connections, digital adoption, and diverse economies. But now it faces unique challenges such as trade tensions, aging populations, and a large net-zero transition. Despite these challenges, Asia’s business leaders are optimistic and ready to innovate. The transition may bring both opportunities and obstacles, but with vision and vigilance, Asia is poised to chart a new path of progress in this exciting era. Read the research: https://lnkd.in/gqS2E38e

Did you know that ASEAN is forecasted to become the fourth-largest economy by 2030 and to surpass China in real GDP growth by 2025? This highlights the region's growing influence and dynamism. Consumer goods, infrastructure, and logistics sectors are showing notable enthusiasm for expanding in the region to achieve sustained growth. Interestingly, geographical expansion ranks among the top three strategic priorities for C-suite executives across major regions in Asia, Europe, and North America. CEOs are prioritizing it not only for revenue and market share growth but also for navigating evolving geopolitical tensions. ASEAN is notably emerging as a pivotal and dynamic region for geographical expansion, providing a strategic avenue for accessing new markets and seizing emerging opportunities. Increasing opportunities in the ASEAN region is driving geographical expansion. Find out more about the strategic priorities and key factors propelling the geographical expansion in the ASEAN region in our latest report: https://lnkd.in/g35YXZAY #yamadaconsultingandspire #yamadaspire #asean #consumergoods #infrastructure #logisticssector #geopoliticaltension #expansion #strategicpriorities #northamerica #china Ryosuke Funayama Leon Perera Japnit Singh Go S. Jeffrey BAHAR Chi Nguyen Saurabh Sharma David L. Llamas Daniel Faricy John Yam Bambang Tobing yogi priyantoro Albertus Edy Rianto Nhu Hua Lijo James Ryo Takahashi Takafumi Kuramoto Sumie Mizugaki Windy Pradipta Prizzy Natacia Marie Teo Twinkle Khurmi