Income per Capita: Southeast Asian Ranking 2024 (in US$)

Southeast Asia is home to a diverse array of economies, each with unique characteristics and varying levels of income. This diversity highlights the economic disparities within the region, as well as opportunities for shared growth and development.

High-Income Leaders

1. Singapore

   • Per Capita Income: Over US$88,450
     As a global financial hub, Singapore leads the region with its advanced economy, robust infrastructure, and high standard of living.

2. Brunei Darussalam

   • Per Capita Income: US$35,110
     Brunei's wealth is largely attributed to its abundant oil and gas reserves, positioning it as one of the wealthiest nations in the region.

3. Malaysia

   • Per Capita Income: US$13,310
     Malaysia's economy benefits from a strong manufacturing sector, diversified industries, and increasing urbanization.

Nations on the Rise

1. Thailand, Indonesia, and the Philippines
   While not listed specifically here, these nations sit between high-income leaders and lower-income economies, demonstrating steady growth through industrialization, foreign investment, and economic reforms.

Economies at the Lower End

1. Timor-Leste

   • Per Capita Income: US$1,450
     As a young nation, Timor-Leste is still working to develop its infrastructure and diversify its economy beyond agriculture and oil dependence.

2. Myanmar

   • Per Capita Income: US$1,250
     Myanmar faces ongoing economic and political challenges, which hinder its potential for growth despite significant natural resources.

Challenges and Opportunities

The stark contrasts in income levels across Southeast Asia emphasize the economic inequalities present within the region. However, they also present opportunities for collaboration and investment to narrow these gaps. Regional frameworks like the ASEAN Economic Community (AEC) aim to foster integration, promote trade, and support development across member states.

By addressing inequalities, enhancing infrastructure, and investing in education and innovation, Southeast Asia can continue to grow as a dynamic and resilient economic bloc, benefiting all nations within the region.