Future of Consumption in Fast-Growth Consumer Markets: ASEAN
This report sheds light on one of the fastest-growing economic regions in the world - ASEAN. ASEAN is expected to become the world’s fourth-largest economy and the third most populous by 20230. Countries within ASEAN are in themselves diverse, with economic, political, and cultural nuances. Over the next years, the confluence of favorable demographics, rising income levels, geopolitical shifts, and digital inter-connectedness will create tremendous opportunities in the region to advance inclusive and responsible consumption for decades to come. this report builds on in-depth consumer surveys conducted across over 1,740 households in 22 cities and towns in ASEAN, covering all key demographic segments. It also draws from over 35 in-depth interviews with private and public-sector leaders. This research leads to rich insights on ASEAN’s present and future outlook on consumption. The report highlights the most significant implications for businesses that aim to thrive in the ASEAN economies over the next decade. It also lays out a call to action for all stakeholders in ASEAN’s growth to build an inclusive future for the region in a post-COVID world.