ASEAN’s positive economic growth has seen many changes in the way its citizens go about their daily lives. With an economy that is fast improving and the potential for progress still intact, the rise of the middle class is very much apparent within the region. An increase in disposable income has allowed some room for people to spend on items or products that might not be a necessity.

In line with its Thailand 4.0 goals, the Land of Smiles has been on an active lookout for foreign investors willing to finance projects under this initiative.

Southeast Asia is one of the most rapidly developing regions in the world with projected economic growth rates averaging 5.1 percent for member states of the Association of Southeast Asian Nations (ASEAN).

Philippines is on the cusp of transformation. When President Rodrigo Duterte assumed power, he initiated the “Build! Build! Build!” project to usher in a “golden age of infrastructure” for the Philippines. The ambitious Build! Build! Build! project is estimated to cost the country US$180 billion, with over 70 projects planned nationwide. Among the planned projects is a new Manila airport terminal, Manila’s first subway system, and a 102-kilometre railway in Mindanao.

Since its launch in 2010, Go-Jek has grown rapidly in Indonesia, a country that is home to more than 250 million inhabitants. Now, as the nation’s first and biggest unicorn looks beyond its shores, things are about to change.

From the bizarre looking balut in the Philippines to the hearty bakso in Indonesia, Southeast Asia is a food haven, a gastronomical paradise unlike any other. A microcosm of Asia, cuisine in the region is very much influenced by recipes from China, India, and the Middle East, among others.

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.

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.

Stocks in major markets across the globe surged on Monday morning after United States (US) secretary of the treasury Steven Mnuchin told the international media that a potential US and China trade war was “on hold”. In New York, the Dow Jones was up more than 300 points while the S&P 500 and Nasdaq index were also making gains.

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.