The October 2024 AREO update projects ASEAN+3 growth at 4.2% in 2024 and 4.4% in 2025, driven by external trade, tourism recovery, and resilient domestic demand.
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The October 2024 AREO update projects ASEAN+3 growth at 4.2% in 2024 and 4.4% in 2025, driven by external trade, tourism recovery, and resilient domestic demand.
Overview of AREO Update
In October 2024, the ASEAN+3 Regional Economic Outlook (AREO) update highlights vital economic predictions for the region. The latest figures suggest a promising growth forecast for ASEAN+3, expecting the economy to expand by 4.2 percent in 2024. This rate is anticipated to increase slightly to 4.4 percent in 2025.
Growth Drivers
Key factors fueling this growth include a continued recovery in external trade and tourism industries. In addition, the domestic demand within the region remains strong and resilient, acting as a major support for economic expansion. These elements collectively suggest a stable and progressive economic environment for the…