Southeast Asia Outlook 2024: Opportunity Beckons

Southeast Asia foresees strong economic growth in 2024, with most major economies expected to accelerate despite challenges like inflation and geopolitical tensions. Easing inflation and increased investments are poised to further support growth.

Our latest paper explores the promising growth prospects of Southeast Asia (SEA) in 2024. Forecasted to expand by 4.6%, SEA's economy is on an upward trajectory, outpacing the previous year's growth rate of 4.0%.

Thailand's growth in 2024 appears poised to surpass historical trend growth, driven by a robust recovery in tourism. China and Thailand have mutually waived visa requirements for their citizens starting from March 2024, which is expected to elevate Chinese visitor levels to 75% of pre-pandemic levels, more than doubling the 2023 Chinese tourist tally of about 3.5 million. The inflation rate for the full year 2023 is now forecasted at 1.4%, while the unemployment rate decreased to 0.99% in Q3 2023, down from 1.06% recorded in Q2.

View the report to learn more.