Asia Opportunities (2024)

FAQs

How is Asia important to the world? ›

Asia is home to the world's earliest civilizations. Its indigenous cultures pioneered many practices that have been integral to societies for centuries, such as agriculture, city planning, and religion. The social and political geography of the continent continues to inform and influence the rest of the world.

Asia's robust economic growth and its position as the world's manufacturing and trade hub give it a critical global role. Asia accounted for 57 percent of global GDP growth between 2015 and 2021. In 2021, Asia contributed 42 percent of world GDP (at purchasing power parity), more than any other region.

Increasing trade openness to unlock new growth opportunities

ASEAN countries have relatively high trade openness globally. In 2021, the majority of countries ranked in the upper half of the Trade Freedom Ranking, which measures tariff and non-tariff barriers that affect imports and exports of goods and services.

Transport. Developing Asia needs $1.7 billion a year for infrastructure if the region is to maintain growth and tackle climate change. More than 30% of that needs to be in transport.

Asia is the largest and most populous continent in the world. It is home to some of the oldest civilisations, and some of the most diverse cultures, languages, and religions. It is a continent of great economic and cultural importance.

Growth was driven by rapid industrialisation, often led by exports and linked with changes in the composition of output and employment.

Asia is the largest continent on Earth. It covers 9% of the Earth's total surface area (or 30% of its land area), and has the longest coastline, at 62,800 kilometres (39,022 mi). Asia is generally defined as comprising the eastern four-fifths of Eurasia.

Internally, ASEAN has continuously fostered economic cooperation in trade, services and investment, and moved towards a single market and production base to increase the region's competitiveness. ASEAN has managed not only to integrate internally but also with the world economy.

Instead of competing against one another, ASEAN has built free trade agreements to increase economic cohesion and strength amongst member states. By forming a unified trade bloc, Southeast Asian nations can stand cohesively and negotiate more favorable trade deals with foreign powers.

What is ASEAN trying to do? ›

ASEAN's purpose is to promote economic and cultural exchange among its member countries, maintain peace and stability in Southeast Asia, and establish relationships with foreign powers with similar aims. ASEAN formed during the Cold War to promote stability and cooperation in a politically turbulent region.

The impact of Asia's resources on global economic growth is formidable. Asian countries rank as some of the top producers of many agricultural, forest, fishing, mining, and industrial products. This increased production has brought both extreme wealth and negative environmental impacts to the continent.

Rice is the staple food crop for most Asians. Asia produces some 90 percent of the world's total supply of rice. Except in the Middle East, Pakistan, Afghanistan, Siberia, Central Asia, and Malaysia, rice occupies more land area than any other single crop.

There have also been improvements in the areas of better job opportunities, technology and economy and many more. Significant developments in infrastructure and education have made Asian cities more attractive and liveable places for their residents.

Asia is the largest and most populous continent, home to the largest (Russia) and most populous (China) nations. Asia is the largest of the world's continents, covering approximately 30 percent of the Earth's land area. It is also the world's most populous continent, with roughly 60 percent of the total population.

East Asia is home to some of the world's oldest civilizations. Chinese history stretches back more than four thousand years, and its early empires—some of the wealthiest in history—invented paper, movable type (in printing), gunpowder, and the compass.

Historically, Asia created a variety of technologies indigenously—such as papermaking, printing, gunpowder, and the compass.

Asia still the leading driver of global economy

In the face of many domestic issues, India and China are still projected to see growth at 6% and 5% respectively. Indonesia, the largest economy in Southeast Asia, is set to achieve 5.2% growth. In the Middle East, Saudi Arabia is predicted to grow at 4.7% in 2025.