One key factor propelling demand in this sector is a 640 million strong regionwide consumer base with a growing middle-income segment.
F&B businesses are leveraging on the fact that more people in the region are now open to the idea of eating out, an option that was once unavailable to many.
China’s leaders will need to find an alternative to the current incentive system and a way to discipline its local officials, who have served the country’s economic development so well in the past.
According to Singapore’s Ministry of Manpower (MOM), labour productivity is measured by calculating the contribution of labour against other factors like capital investment, new technology, the health and skills of workers and the use of more efficient management and production practices.
The Philippines is likely to be able to fund its Build, Build, Build infrastructure project (2016-2020) under its 10-point Socio-Economic Agenda, but it may face setbacks in terms of labour to make it happen.