Situated close to the equator, the Southeast Asian region is well known for its rich biodiversity and natural tourist attractions. Every year, thousands of holidaymakers from all around the world travel to this region searching for a vacation experience that could get them through another year at work. In recent years, tourist arrivals within the region have increased steadily.
With Indonesia and Vietnam cutting interest rates in the past two months and Thailand fending off pressure to do the same, the Philippines is emerging as the region’s lone candidate for a rate increase this year.While all economists surveyed by Bloomberg predict Bangko Sentral ng Pilipinas (the Central Bank of the Philippines) will hold its benchmark rate at a record-low of three percent on Thursday, a separate poll showed almost half forecast an increase by the fourth quarter.
A public rift between Thailand’s central bank and government on interest rates shows just how much of a dilemma the baht has become for the economy.The Finance Ministry is pushing the Bank of Thailand to cut interest rates to stimulate growth, in light of the strength of the currency and low inflation.
Malaysia’s central bank is in a sweet spot.
When European Central Bank President Mario Draghi gives his policy update later Thursday, his words will reverberate halfway across the world in the tropical climes of Indonesia.Where once the Federal Reserve’s policy outlook was the biggest swing factor for policy makers in Jakarta, an influx of yield hungry European investors is changing all that.
While Japan had the biggest slump in its workforce in Asia over the last 10 years, Singapore has the most to fear from an aging population over the next two decades.The city state will face a double whammy: a shrinking workforce and slower progress than Asian neighbours in getting more people into the labour market.
Vietnam - also famously known as the land of the “Ascending Dragon” for its geographical shape on the world map - is a land of opportunities. As Vietnam celebrates its 72nd independence today, it is remarkable to note how far the country has progressed over recent years. Moving away from a centrally planned system into a market based economy, Vietnam has advanced into the "lower middle income countries" bracket since 2009.
The economic outlook for 10 ASEAN (Association of Southeast Asian Nations) member states and other major East Asian economies including China, India, Japan and South Korea, remains optimistic following a strong start in 2017.
The ASEAN (Association of Southeast Asian Nations) frontier economies of Cambodia, Lao, Myanmar and Vietnam (CLMV) are becoming the centre of attraction for FDI (foreign direct investment). Aside from being the world’s fastest growing economies, these countries boast a young population with low-cost labours and natural resources. Among the potential areas for investment include textile, clothing, footwear, food and beverage, banking, services, tourism and auto electronics.
As the world grows smaller and connected, many organisations and individuals become highly depended on technology-based interfaces for various financial services including banking, payments, money transfers, fund-raising and asset management. The impact of technology on finance is changing the world as we speak and FinTech (financial technology) is at the forefront of the next global revolution - leading to greater overall efficiency and productivity.
