In a region teeming with potential and growth, the economies of Southeast Asia have seen an improvement that has surpassed expectations from decades ago. However, over the years, the minimum wage in these countries has become an issue. A disgruntled workforce is left to scratch their collective heads in figuring out how to make ends meet with the ever-rising cost of living.

For the past year, the term “cryptocurrency” has been bandied about by people in the tech and banking industries, usually with admiration from the former and some scepticism from the latter. More startups in the region are beginning to contemplate integrating cryptocurrencies into their respective business models. Fintech firms too could especially benefit from introducing cryptocurrency into their operations.

The Fourth Industrial Revolution has seen many sweeping changes in the way we interact with one another. This interaction is not limited to human-to-human relationships but is extended to the way we deal with finances; with the idea of digitalising purchases and transactions now a reality. Mobile wallets are part of this reality, with users able to carry out purchases through cashless means, and as the term suggests, with the use of a smartphone.

Southeast Asia has always been a fluid region. Before modern borders were established, migration within and outside the region was the norm. Southeast Asia used to be a region defined by kingdoms and empires where demographics were constantly shifting. This coupled with the fact that it used to be a hub for traders from all over the world has made the region what it is today; a dynamic confluence of diverse cultures and ethnicities with a shared history.

The Philippines is fast becoming a hub for foreign banks looking to expand and establish their presence in Southeast Asia. A steady banking system coupled with an educated citizenry are some of the factors drawing international financial institutions to its shores. The presence of these foreign banks mostly comes in the form of representative offices that are particularly focused on marketing. These offices are important in drawing investment into the country.

Over the past decade, the financial services sector in Southeast Asia has seen growth that is nothing short of impressive. A more integrated approach in this sector has facilitated great strides in economic prosperity, with an increase in the region’s GDP standing as a testament to the methodical planning among ASEAN member countries.

As a regional association, ASEAN must avoid the pitfalls of becoming a high-minded, elitist organisation, with its inner workings confined within the hallowed hallways of the ASEAN Secretariat in Jakarta. As it evolves, it must adapt to the needs and demands of its constituents – the ASEAN people.This is where a strong social presence is necessary to help ensure the voices of the people are heard when the next major ASEAN masterplan or roadmap is drawn up.

Cybercrime is on the rise throughout Southeast Asia, with the region’s rapid development in terms of digital technologies making it a prime target for cybercriminals.

It is no secret that China is fast expanding its influence within the Southeast Asian region as it attempts to win over nations by offering lucrative pipelines of investment and credit. Thus far, the principle benefactor of Beijing’s actions is Cambodia, which hasn’t been shy to admit that China is the country’s “most trustworthy friend.” However, often overlooked in this game of regional geopolitics is the landlocked country of Lao PDR.

The Southeast Asian region has had its fair share of natural disasters over the years. In terms of sheer destruction, the most devastating of these was the Indian Ocean earthquake and tsunami of 2004. While the impact of that disaster was felt regionwide, Indonesia was the hardest hit among ASEAN member states, with more than 130,000 people dead and extensive infrastructural damage.