Southeast Asian consumer market poised to boom in the next 5 years

Singapore to emerge as a regional business centre.

According to a report by Nielsen, as the uncertain environment of ASEAN 2015 approaches, organizations that align themselves with the broader objectives of the ASEAN charter while developing business practices that allowa level of flexibility and agility will be poised for success.

Nielsen noted that with or without ASEAN, the Southeast Asian consumer market will boom in the next five
years as a combination of growing populations, spreading financial prosperity and a heightened consumption mentality provide a fertile environment.

There will be clear winners and losers as well as some blurring in between. Countries such as Singapore, Malaysia and Indonesia are likely to emerge as regional business centres while Vietnam, Laos and Myanmar are set to become manufacturing hubs. The big winners, however, will be those companies which access the huge consumer base of the ASEAN and ASEAN +6 members following regulation changes and cost e ciencies.