Asia Economic Growth
Asia will continue to lead the rest of the world in GDP growth over the years to come. Rapid urbanization and fast growing income levels remain the main drivers. Economists expect more than 60% of the world’s growth over the next few years to come from Emerging Asia, and hundreds of millions of people will enter the middle class in the coming decades. Asia is creating more and more wealth not just from mass production, but increasingly also from innovation.
Many Asian countries are witnessing a transition towards more sophistication as local economies move up the value chain and the service sector becomes more dominant. China alone generates more than 7 million graduates every year, which is still hardly enough for the rapidly growing demand for an increasingly high-skilled workforce.