Research Briefing | Jul 15, 2021

APAC Cities Outlook | Sectoral shifts, rising incomes and demographics create long-term changes

First page of Oxford Economics' Research Briefing titled APAC cities outlook, Q2 2021

Over the past twenty years parts of Asia Pacific have experienced some of the fastest economic growth globally. This trend is set to continue over the next fifteen years, with China and India continuing to lead Asia’s contribution to world GDP. In our latest APAC Cities and Regions Outlook, we explore some of the themes underpinning the outlook.

What you will learn:

  • Sectoral shifts: As China transitions towards higher value, less labour-intensive manufacturing, there are opportunities for other lower wage Asian regions to take its place. We believe India and Indonesia are set to become Asia’s new industrial powerhouses.
  • Rising income: Long-term economic growth will support rising incomes, helping millions of households move out of poverty and up through the income bands. Across the Asia Pacific region, there will be over 210 million additional middle-income households by 2035 compared to 2020. 
  • Ageing population: Ageing populations will pose challenges such as rising pension and healthcare costs, there will also be significant opportunities associated with the rise of the “silver economy”

If you would like to get access to our forecasts for 47 cities and sub regions in Asia Pacific, click here to submit a free trial request.

Back to Resource Hub

Related Services

Post

Big shifts are underway in Russia-China trade

Data for Q3 on the volume of China's imports of crude from Russia show a drop against the June level. Rather than an indication that China's demand has peaked, this may be a sign that China is preparing for the Russian oil price cap recently agreed by G7 by shifting some of its purchases to the grey market.

Find Out More

Post

Levelling up is unlikely under the Liz Truss government

The government's levelling up ambition has probably been made more, not less, difficult by the new "Plan for Growth". Policies of lower taxes, less regulation, and a smaller state are unlikely to have much beneficial impact on long-term growth at the national level, let alone in those regions with long track records of underperformance.

Find Out More