Asia Economic Research Highlights

Asia: Economic Research & Views

Mongolia harnesses surging mining exports to diversify economy

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High commodity prices and rising coal exports are propelling economic growth in Mongolia, allowing the country to develop its robust mineral resources, expand its services sector, and invest in green agriculture and energy. Mongolia exported 31.7m tonnes of coal in 2022, an increase in volume of 102%, or 16m tonnes, from 2021 and an increase in export revenue of 135%, or $6.5bn, due to higher coal prices, according to data from the Mongolian Customs General Administration. These figures undergirded economic growth...

Emerging markets invest in film media to extend their global reach

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As audiences return to entertainment in physical venues following the Covid-19 pandemic, several emerging markets are looking to film and media to diversify economic revenue streams and extend their cultural reach abroad. Global cinema box office revenue saw a strong upswing in the first quarter of 2023, with the year’s gross revenue set to reach $32bn. While still 20% below the annual average recorded in the 2017-19 period, the figures show that the industry is well on its way to recovery...

Demographic and tech shifts alter the distribution of global talent

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As the global economy continues to adapt to ongoing macroeconomic shocks, many countries are looking to boost human capital through training programmes, technology adoption and immigration. Following key shifts in labour trends resulting from the Covid-19 pandemic, such as the switch to remote work and acute labour shortages in a number of developed economies, countries are re-evaluating how to foster a skilled workforce to facilitate sustainable future expansion. Population projections see growth...

What China’s uneven economic recovery means for emerging markets

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After three years of rolling Covid-19 lockdowns and trade disruptions, China posted faster-than-expected GDP growth in the first quarter of 2023, at 4.5% year-on-year (y-o-y), but the uneven nature of its recovery is sending mixed signals for emerging markets. The strong performance, which exceeded the expectations of many analysts, was powered by 5.4% expansion in the services sector, including a 10.6% spike in retail sales in March, as pent-up demand and high domestic savings drove market activity...

The growth trajectory of religious tourism in key markets

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With many emerging markets diversifying their tourism offerings, faith-based tourism is set to become a key segment for a number of markets worldwide. An estimated 330m people travel for religious reasons each year, according to the UN Word Tourism Organisation, forming a significant market for countries with attractions of spiritual or sacred value. These trips include pilgrimages as well as sightseeing trips to important historical and religious sites throughout the year. Additionally, a 2017 study reported that some...

Free ad-supported television poised to grow share of emerging market viewers

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As emerging markets expand internet access and younger generations adopt different habits of consuming global media and entertainment, free ad-supported television (FAST) is poised to gain market share as viewers transition from traditional cable, broadcast or satellite television to over-the-top (OTT) internet-based platforms. US tech giant Google announced two weeks ago that it was seeking to become the leading FAST channel aggregator by adding Tubi, Plex and Haystack News to its existing FAST...

Emerging markets look to capture a larger share of the aviation market

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With global aviation passenger numbers rebounding, emerging markets are looking to capture market share through increased investment and sustainable aviation fuels (SAFs). As OBG reported in February, tourism figures rebounded in 2022, thanks to the easing of Covid-19-related restrictions and increased investment in tourism. The sector’s recovery is set to continue, with international tourist arrivals likely to reach 85-90% of pre-pandemic levels in 2023. Revenue is also on the upswing for the global aviation industry after an...

The future of commercial drone delivery in global and local supply chains

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Emerging markets are capitalising on commercial drone technology to overcome logistics challenges and revolutionise supply chains for many goods and services, with expected benefits for last-mile delivery. While unmanned aerial vehicles (UAVs) are often associated with military usage, commercial UAV usage has grown substantially in recent years as e-commerce and logistics companies increasingly look to drones to enable more efficient delivery. Research firm GlobalData predicts that commercial drones...

Global CEO Survey: What is on the horizon for emerging markets?

While the recovery period following the Covid-19 pandemic saw the unlocking of major capital in emerging markets, inflationary pressures, fluctuating commodity prices and geopolitical concerns have since tempered the global economic outlook for 2023. Balancing opportunity and risk has become a priority for shareholders and investors, but emerging markets have remained resilient. Some regions, such as the Gulf, are looking to funnel elevated hydrocarbons revenue into sustainable mega-projects, whereas leaders in Asia...