Southeast Asia Expecting Up To 10 Percent Business Growth in 2019
SINGAPORE – Global market research company Euromonitor International released today a new white paper, “Southeast Asia Business Leaders Report: Inside Your Peers’ 2019 Executive Agenda” highlighting key priorities and challenges for 2019 through a survey of over 100 senior leaders in the private and public sectors based in the region.
According to the new research, Southeast Asia’s business executives are confident about their businesses, targeting 6 to 10 percent increase on average for their respective sectors in the region. Services and products innovations, exploration of digital channels, investments in social media marketing and advertising are some of the factors reflecting a mood of optimism and awareness of growth opportunities.
“The world is looking at Southeast Asia as a destination for investment, source of future growth and inspiration for innovation. At the same time, companies and governments in this region are presented with the challenge of reinventing themselves to leverage on this momentum of economic prosperity,” says Euromonitor International’s Country Manager Geana Barbosa. “While companies feel threatened by skills gaps, confidence is driven by technology,” she added.
Digital transformation is one of the leading variables when prospecting for growth in 2019. The population in Southeast Asia that will access the internet daily will rise from 18.3 percent in 2014 to 60.8 percent by 2024, with Indonesia and Thailand being the third and fourth mobile-first countries respectively globally, behind China and South Korea.
Yvonne Kok, head of passport research at Euromonitor International comments, “Digital transformation is a costly affair, requiring organisational changes alongside the re-alignment of business priorities and transforming the skillset of the workforce. However, the opportunities offered by digitalisation will be the catalyst behind the attitude shift in the Southeast Asian markets.”
To read the full report, click here: http://bit.ly/2J913xw
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