According to the International Monetary Fund, the collective 2014 GDP of ASEAN-5 (Indonesia, Thailand, the Philippines, Malaysia and Vietnam) is forecasted to exceed that of Four Asian Tigers (S. Korea, Singapore, Hong Kong and Taiwan): US$2.44 trillion (12% growth) versus $2.41 trillion. The ASEAN-5 have strong dom
According to the International Monetary Fund, the collective 2014 GDP of ASEAN-5 (Indonesia, Thailand, the Philippines, Malaysia and Vietnam) is forecasted to exceed that of Four Asian Tigers (S. Korea, Singapore, Hong Kong and Taiwan): US$2.44 trillion (12% growth) versus $2.41 trillion.
The ASEAN-5 have strong domestic markets and are less reliant on exports to the U.S. and European markets; natural resources such as oil/gas and a variety of minerals are also good insulators. Data from the intelligence unit of magazine The Economist indicates that 2013 economic growth should be around 5.3%, and the average annual growth rate between 2014 and 2017 is around 5.8%.
According to Bloomberg, 2012 MSCI South East Asia Index jumped 18%, thanks to 99% elimination of tariffs and closer industry cooperation and trading within the ASEAN region. 2012 foreign direct investment for Thailand and the Philippines each exceeded $2.5 billion; Indonesia also had $1.7-billion capital inflow.
Per Malaysian International Trade and Industry Minister Y.B. Dato' Sri Mustapa Mohamed at the 2013 ASEAN Summit, 80% of 10 ASEAN countries are ready to integrate into the ASEAN Economic Community by 2015, becoming the world's largest free trade area. The total GDP will surpass $10 trillion by 2030, with a lot more investment opportunities.