ASIA: With the growth of Southeast Asia’s economy, the infrastructure and real estate sectors continue to expand, contributing to the expansion of the construction industry.
The report “Research Report on Southeast Asia Construction Industry 2023-2032” has been added to the offering at ResearchAndMarkets.com.
Southeast Asia’s construction industry will expand from 2023 to 2032. Relatively low labor and land costs have enticed a large number of foreign investors to relocate production capacity to Southeast Asia, foreign trade has increased, and the development of industrial, commercial, and infrastructure sectors has boosted the construction industry. On the other hand, as Southeast Asia’s economy grows, so does the real estate industry, promoting the development of the construction industry.
The development of the construction industry varies greatly across Southeast Asian countries, such as Vietnam and Indonesia, where the industry is rapidly expanding.
Southeast Asia is comprised of ten countries in this report: Singapore, Thailand, the Philippines, Malaysia, Indonesia, Vietnam, Myanmar, Brunei, Laos, and Cambodia. Southeast Asia, which will have a total population of over 600 million by the end of 2021, has an overall economic growth rate that is higher than the global average and is one of the key drivers of future global economic growth.
The ten Southeast Asian countries’ economic levels vary greatly, with Singapore being the only developed country with a per capita GDP of around US$73,000 in 2021. In 2021, Myanmar and Cambodia will have a GDP per capita of less than US$2,000.