HSBC releases latest research on the attractiveness of Southeast Asia for UK businesses

Southeast Asia, with a growing, young, and digitally connected population, is emerging as an important growth engine for the global economy. The 10 countries that make up the Association of South East Asian Nations (ASEAN) are home to a combined population of 660 million people and an economy on track to expand by 4.6% in 2023, according to the OECD. The region is also benefiting from a shift in global supply chains, as multinational companies look to diversify their networks. HSBC’s Global Connections survey of international businesses explores how firms in nine major markets are approaching this dynamic and diverse region.

This year’s survey covers more than 3,500 companies with a commercial interest in at least one ASEAN market, with an equal number of respondents based in: mainland China, India, the United Kingdom, France, Germany, the United States, Australia, Hong Kong, and Gulf Cooperation Council (GCC) countries. The results of the research reflect the depth of trading connections between UK businesses and ASEAN. Almost half of the businesses in our survey (49%) have developed supply chains in the region, and 45% have achieved organic growth to date. UK firms are most likely to have operations in Singapore (36%) and Thailand (32%).

Click on the image below to read the report in full: