Asia’s economic growth expected despite China slowdown, higher geopolitical risk | Asian Business Review
, APAC
485 views
Source: EIU

Asia’s economic growth expected despite China slowdown, higher geopolitical risk

The region is expected to account for 60% of the global economy in 2024, EIU reported. 

Asia’s economy is expected to expand despite a slowdown in China and the higher geopolitical risks, the Economist Intelligence Unit (EIU) reported.

In its Asia Outlook 2024, EIU projected the region to account for 60% of the global GDP growth in 2024, which is higher than the pre-pandemic average. 

“This will match the estimated contribution in 2023 and is higher than the pre-pandemic level,” the report read. 

“This reflects diminished contributions from the North American and European economies, where growth will be sedate in 2024, and the small scale of emerging markets in Latin America, as well as the Middle East and Africa.”

China is estimated to contribute two percentage points of regional growth, a contribution that reflects a dip from historical average, EIU noted. 

Meanwhile, India is projected to make a 0.6 percentage point or a 15% contribution–the second-highest for a single market. Southeast Asia, led by Indonesia, is expected to offer a “slightly less support.”

 

Join Asian Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

What are the must-have banking features by 2027?
Over 60% of respondents in Australia, China, and India find credit-building tools to be useful.
More employees in Asia fall victim to phishing links monthly: report
They click phishing links nearly double the global average of 2.9 times, according to Netskope Threat Labs.
Charlton Media Group acquires the Marine & Industrial Report Newspaper
The company will expand readership and create an awards program and events for the marine and offshore sectors.