Overview

Accelerated output and productivity, waning labor arbitrage from Western economies, strengthening local demand, and rapidly growing intra-regional and international trade will trigger Asia's move toward global economic dominance in the next 2 decades. The Asia-Pacific (APAC) region is expected to experience significant growth trends by 2035, characterized by economic, technological, demographic, and geopolitical shifts.

Demographically, the Asia-pacific will dominate the world with the youth population (aged 15-24) by accounting for more than 50% of the world's youth population by 2035. Consumer segments will also be dominated by younger generations like Gen Z and Alpha which will collectively constitute around 40% of consumers in Asia-Pacific in 2035. Cities will become the major economic hubs within the Asia-Pacific region. By 2035, more than 60% of global megacities are expected to be found in the Asia-Pacific region. These urban hubs will be essential for promoting innovation, economic expansion, and cross-cultural interaction.

Asia is expected to emerge as an economic behemoth by 2035, with strong signals indicating a dominant middle income consumer group, and a rise in private investment in urban infrastructure development and megaprojects. Important Asian regions that will record high growth in consumer markets are Bangladesh, India, the Philippines, Vietnam, and Indonesia. The main reason behind the strong retail growth is Asia’s markets reopening faster than the rest of the world after COVID-19.

• Why will this region show significant expansion towards technological advancements driven by advancements in various sectors including telecommunications, manufacturing, and sustainable technologies?
• How will innovations in communication technologies, the Internet of Things (IoT), blockchain, and artificial intelligence drive the 5G and 6G revolution, investments in developing data center infrastructure, robotics, and automation as well as sustainable energy technologies?
• How will countries like India, Japan, China, Australia, and South Korea create millions of new green jobs in categories such as smart cities and smart infrastructure, renewable energy, green buildings, and professional services by 2040?
• What is the long-term growth potential of APAC and how will a significant shift in global and economic power toward Asia because of its large population centers, growing consumer classes, and increasing military pave the way for growth opportunities?

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