Projected Rebound of Southeast Asian Economies in 2021 Offer Growth Opportunities for Global Professional AudioVisual Businesses
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Wednesday, July 29, 2020
Despite a gloomy global economic outlook and a general slowdown in 2020, the Asian Development Bank (ADB) and the International Monetary Fund (IMF) have both projected a strong rebound for Southeast Asia's economies in 2021.
Key Points:
- Despite a gloomy global economic outlook and a general slowdown in 2020, the Asian Development Bank (ADB) and the International Monetary Fund (IMF) have both projected a strong rebound for Southeast Asia's economies in 2021.
- The IMF estimates that advanced economies including the US and UK will grow 4.8 percent in 2021.
- Southeast Asia, as organized under the Association of Southeast Asian Nation (ASEAN) grouping, comprises Indonesia, Thailand, Malaysia, Singapore, Vietnam, Philippines, Cambodia, Myanmar, Brunei and Laos.
- Indeed, in 2020, even though there is a global economic slowdown, Southeast Asia's economies will contract to a lesser extent.