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| Name | Long-Term Economic Outlook : Philippines, Vietnam, Malaysia, Thailand, and Indonesia by 2050 |
| Video Uploader | Video From ASEAN Analytics |
| Upload Date | This Video Uploaded At 14-11-2023 07:00:08 |
| Video Discription | Emerging Southeast Asia Long-term Economic Outlook by 2050 Over the next two decades, the total ASEAN economy measured in nominal terms in US Dollars is forecast to reach more than quadruple. Increasing from $3 trillion in 2020 to $13.3 trillion by 2040. This will make the ASEAN economies' combined GDP much larger than Japan's or Germany's GDP by 2040. Highlighting the increasing importance of the ASEAN region as one of the world's largest consumer markets. By 2040, ASEAN's share of world GDP is projected to increase to 5.4% of the world’s economy. According to S&P Global, before 2040, The Philippines and Thailand will join Indonesia on the roaster of major Global economies, reaching over a Trillion dollars of nominal GDP. The Philippines is forecast to become one of the Asia-Pacific region's small group of one trillion-dollar economies by 2033. While Thailand will join this grouping of the largest economies in APAC by 2036. Other countries in the Asia-Pacific region with over one trillion-dollar economy are China, Japan, India, South Korea, Australia, and Taiwan. Consequently, the outlook for the Philippines' economy over the next decade is very favorable, with significant progress in economic development expected. Rapidly rising per capita GDP and standards of living will help to underpin a broad improvement in human development indicators. And will deliver a significant reduction in the share of the population, living in extreme poverty over the decade ahead. The Philippines is poised to become the world’s 18th biggest economy by 2050, as long as it addresses its infrastructure lack. A long-term projection, made by London-based macroeconomic research organization, Capital Economics. Meanwhile, rising per capita GDP levels will also put pressure on Thailand's competitiveness in certain segments of its manufacturing export industry. Therefore, an important policy priority for the nation will continue to transform manufacturing export industries towards higher value-added processing in advanced manufacturing industries. The World in 2050 report issued by PWC, enumerated the latest long-term global growth projections to 2050 for 32 of the largest economies in the world, accounting for around 85% of the world’s economy. Accordingly, The Philippines and Vietnam make the greatest moves up in the ranking amongst the major economies in Southeast Asia. The Philippines will rank 19th globally, inching up by 9 places from the 28th spot in 2016, while Vietnam will rank 20th globally with an outstanding rise which ranks up by 12 places, from the 32nd spot in 2016. Another Asean states which takes part in the major Global Economies is Indonesia, which ranked 4th. Malaysia ranked in 24th place, followed by Thailand in 25th spot. The World in 2050, reported that Indonesia will still remain the biggest economy in the region by 2050 with a GDP measured in nominal terms amounting to $7.3 Trillion, followed by the Philippines with a GDP of $2.5 Trillion, Vietnam with an economy reaching $2.3 Trillion, Malaysia with an economy of $2.1 Trillion, and Thailand with GDP of $2 Trillion. Join this channel to get access to perks: https://www.youtube.com/channel/UCuCwi7OhBOCvHDKHUS3m_1Q/join [uWEaEo5JQyY] |
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