Singapore and the Bay Area: Leveraging Emerging Opportunities in Southeast Asia

January 15, 2020

Economic growth in Singapore and the ASEAN region is offering new opportunities for Bay Area and California companies and organizations to expand or diversify their presence in Asia. Of 18 high-growth “outperformers” identified in a September 2018 McKinsey Global Institute study of high-growth emerging economies, four long-term outperformers—Singapore, Thailand, Indonesia, and Malaysia—are ASEAN member countries. Underlying this performance are pro-growth policies, fueled by strong competitive dynamics. Young populations, rising middle classes, increased technological capacity, and an explosion of internet and mobile activity are driving the process. Singapore in particular offers a business environment characterized by open markets, transparency, and the rule of law.These developments are producing new synergies with the Bay Area based on investment, R&D, innovation, and entrepreneurial activity. These opportunities, led by Singapore as a unique regional platform, will continue to expand as Southeast Asia grows in strategic and economic importance.