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Asia-Pacific Set To Outpace Rest Of World Again In 2014, Euromonitor Says

March 17, 2014: 12:00 AM EST
Asia-Pacific is forecast to be the world’s fastest-growing region in 2014, the 10th consecutive year the region will hold the distinction, according to market research firm Euromonitor. Data revealed the region’s economy has grown 73 percent, with China alone adding $5.705 billion to its GDP, and the region’s population has expanded by 10.4 percent. This trend is expected to continue in the next 10 years, with the region’s population forecast to reach more than 4.3 billion. With China becoming the world’s largest economy, the region is likely to again outpace the rest of the world, with consumer spending rising above $4,000 per capita. While China has been the main factor driving growth in the region, other countries, such as India, Philippines, and Bangladesh, have also made it to the world’s list of the top 5 fastest-growing large emerging markets.
Sarah Boumphrey, "Asia-Pacific: Set to Become the World’s Fastest-Growing Region for 10 Years Running", Euromonitor International, March 17, 2014, © Euromonitor International
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