Four Southeast Asian Countries are Among Top 10 emerging markets will dominate the global economy in the next decade

Four Southeast Asian Countries are Among Top 10 emerging markets will dominate the global economy in the next decade

Rankings of the biggest growth stars in emerging markets sees India take top spot in the next decade, according to Oxford Economics. 

Figures compiled by the research firm indicate that Asian economies will be the most successful emerging markets by 2028 with only one South American country and no African countries in thhe top 10.

Oxford Economics cites the need for emerging markets to undergo rapid capital accumulation through domestic financing to succeed alongside strong GDP and robust total factor productivity (TFP) growth.

A sizeable export sector is seen as a key factor in avoiding the middle-income trap – wherein countries get stuck at one size for long periods of time – with the main way of aiding this coming from investment in innovation.

According to Oxford Economics, capital deepening stems from investment, the bulk of which has to be financed by domestic saving.

Here are the 10 fastest growing emerging market economies:

Keterangan Gambar (© Pemilik Gambar)

Four Southeast Asian countries; Philippines, Indonesia, Malaysia, and Thailand are among them. What Oxford Economics say about the four?

1. Philippines

Currently led by the brash strongman Rodrigo Duterte, the Philippines are a large island group with huge economic potential. The Philippines is set to have the highest increase in its labour force of any of the top 10 which, alongside its GDP growth of 5.3%, means it will be one of the world’s fastest growing economies sooner rather than later.

2.  Indonesia

Comprised of thousands of islands in the Pacific, Indonesia’s growth story is one of the world’s most compelling with the country set to be a powerhouse of the global economy in the coming years. Blessed with plentiful natural resources and increasingly less reliant on foreign funding, Indonesia looks set to be a key player in the future with growth of 5.1%.

3. Malaysia

Previously restricted to being a major exporter of agricultural goods and commodities, the Malaysian economy is another South East Asian power on the rise. Impressive 3.8% GDP growth isn’t matched by the country’s TFP growth, which is the lowest in the top 10.

4. Thailand

The so-called “land of smiles” is one of the world’s fastest growing emerging markets with 2.9% GDP growth expected. Tourism makes up around 11% of GDP output with numbers increasing every year. In the previous decade Thailand’s labour productivity growth was below the trend for comparable emerging markets’ GDP growth, but this is expected to change going forward.

Source: Business Insider Singapore

Akhyari Hananto

I began my career in the banking industry in 1997, and stayed approx 6 years in it. This industry boost his knowledge about the economic condition in Indonesia, both macro and micro, and how to More understand it. My banking career continued in Yogyakarta when I joined in a program funded by the Asian Development Bank (ADB),as the coordinator for a program aimed to help improve the quality of learning and teaching process in private universities in Yogyakarta. When the earthquake stroke Yogyakarta, I chose to join an international NGO working in the area of ?disaster response and management, which allows me to help rebuild the city, as well as other disaster-stricken area in Indonesia. I went on to become the coordinator for emergency response in the Asia Pacific region. Then I was assigned for 1 year in Cambodia, as a country coordinator mostly to deliver developmental programs (water and sanitation, education, livelihood). In 2009, he continued his career as a protocol and HR officer at the U.S. Consulate General in Surabaya, and two years later I joined the Political and Economic Section until now, where i have to deal with extensive range of people and government officials, as well as private and government institution troughout eastern Indonesia. I am the founder and Editor-in-Chief in Good News From Indonesia (GNFI), a growing and influential social media movement, and was selected as one of The Most Influential Netizen 2011 by The Marketeers magazine. I also wrote a book on "Fundamentals of Disaster Management in 2007"?, "Good News From Indonesia : Beragam Prestasi Anak Bangsa di dunia"? which was luanched in August 2013, and "Indonesia Bersyukur"? which is launched in Sept 2013. In 2014, 3 books were released in which i was one of the writer; "Indonesia Pelangi Dunia"?, "Indonesia The Untold Stories"? and "Growing! Meretas Jalan Kejayaan" I give lectures to students in lectures nationwide, sharing on full range of issues, from economy, to diplomacy Less
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