Urbanisation is on the rise across Asia Pacific, creating huge opportunities for businesses. By 2033, 18 Asia’s megacities in the region are expected to see disposable incomes jump by over 50%.
Here are five interesting takeaways from a recent Euromonitor International article on the fastest-growing cities in Asia:
1. Emerging Asian cities driving global urban growth
Emerging Asian cities will account for 95% of global urban population growth over the next decade.
2. Disposable income surges in key cities
Cities like Ho Chi Minh City, Manila, and Delhi are leading the way in disposable income growth, presenting significant investment opportunities, particularly in hi-tech sectors, as economic hubs evolve.
3. Booming consumer markets offer early entry advantages
By 2033, the number of developing cities with consumer markets over USD 50 billion will nearly double. Early entrants into these markets can secure a dominant position, particularly in high-growth sectors such as retail, technology, and finance.
4. Non-Chinese megacities emerging as major markets
While Chinese megacities like Shanghai and Shenzhen continue to dominate in terms of growth, cities outside China—such as Manila, Jakarta, and Ho Chi Minh City—are rapidly emerging as significant consumer markets due to economic reforms and surging investments.
5. Rising affluence boosts opportunities in various sectors
Affluence in cities like Bangkok and Xi’an is fuelling business opportunities in retail, entertainment, and premium products.
If your organisation is looking to tap into these thriving markets across Asia’s megacities, AsiaVerify is here to support your expansion efforts with our best-in-class business verification, onboarding and monitoring solutions.
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You can view the Euromonitor article here: Read more
