Post Covid Business Opportunity Southeast Asia to Accelerate Economic Recovery

Covid-19 definitely has affected business and national economies in countries around the world. When the corona case decreases, most of countries in the world, especially Southeast Asian countries start to rise. People start to seek post covid business opportunity Southeast Asia.

Each country in Southeast Asia realizes that without covid-19 vaccine it seems impossible to recover from the uncertainty situation. Fortunately, the vaccine distribution in all countries, slowly leads to economic recovery in Southeast Asia.

Economic Recovery in Southeast Asia

Countries in Southeast Asia can see the business opportunity in the mid of pandemic situation. Each country has distinctive ways to strive against financial crisis due to covid-19 pandemic. Of course, the digitalization has important role in supporting the economic recovery.

The average of GDP in Southeast Asian countries will likely reach up to 5.1 % in 2021. Even the growth statistic this year surprisingly exceeds the average GDP growth in 2020 which is 3.4%. It is remarkable achievement whereas each country is still struggling from covid19 new variants.

However, it is not easy to enhance the GDP growth when covid19 pandemic has not come to an end. There are some factors that affect the economy recovery in Southeast Asia such as economic structures, lockdowns, restrictions and government’s role to support business and households.

Post Covid Business Opportunity Southeast Asia

To speed up economy recovery, countries in Southeast Asia look for new business opportunity after covid19 outbreak. Market Research Southeast Asia can assist companies to choose post covid business opportunity and guide them how to enter the market nicely.

Leveraging Digitization in Business

One of post covid business opportunities that meet current situation is telemedicine. Medicine is the most prominent business during the time. However, countries in Southeast Asia recognizes that digitization effectively supports the medical care.

Telemedicine enables people to engage with health professionals or order medicine via online. Digital health can efficiently handle the public demand regarding medicine and health consultation during lockdowns and physical distancing.

Other examples of business opportunities after covid19 are e-payment, construction and e-commerce. E-commerce penetration in Southeast Asia has reached 44% in 2020. These business opportunities still exist despite of pandemic and will grow higher after the pandemic ends.

Market Research Southeast Asia understand the type of business opportunities and potentials that meet asian market research. The professional team of Market Research Southeast Asia can help companies to arrange strategies to enhance business growth.

Construction Industry Recovery

Apparently Southeast Asian countries choose to recover construction industries after the covid19 cases decrease. For instance, Vietnam shows the great improvement in construction industries that include infrastructure, energy, and residential constructions.

Indonesia also shows enhancement in construction sector by increasing budget approximately USD 29.4 billion. The infrastructure and energy investments in this country will definitely speed up the economic recovery. Singapore’s construction recovery tends to focus on healthcare facilities and MRT.

Philippines’ massive investment in construction sector with approximate amount USD 24.4 billion will likely to boost economic growth up to 8.3% in 2021. Thailand plans to spend USD 306.8 million on construction sector.

Malaysia’s construction industry recovery will increase 14.6% with estimated budget USD 74 million. The construction development will focus on renewable energy, transport infrastructure, telecommunications, water infrastructure and residential projects. Even though covid 19 brings severe fall to the global economy, the Southeast Asian countries has started to recover from this uncertain situation. They recognize post covid business opportunity Southeast Asia very well to speed up the economic recovery.

Leave a Comment