Economy

Vietnam becomes the rising star for that tourism scene in the annals of Southeast Asia; it surpasses its regional competitors quietly but powerfully. Thailand has been popular for ages as a destination for travel in the region, recently boosted by being featured in the Season 3 stop of The White Lotus, but Vietnam is also on its way to becoming …

Asia, a continent varied in culture and economic endowment, is, however, home to some of the gravest poverty challenges found anywhere. Whereas many countries in Asia have recorded notable advances in economic growth over the past few decades, extreme poverty remains an ongoing issue debilitating millions. The sharp contrast between life in flourishing cities and rural poverty-stricken areas is, therefore, …

Emerging as the economic powerhouse of the world over the past few decades, Asia is truly going through something unprecedented. In addition to the manufacturing power that China boasts, the technology boom from India’s side, and the rising industrial hubs in Southeast Asia, all this continues to reshape the global marketplaces. But what is driving this rapid growth, and how …

According to the most recent data produced by the Bank for International Settlements and released on Thursday, South Korea’s total debt- household, corporate, and government liabilities alike- grew by 4% within the third quarter of the past year, breaking its debt threshold past 6.2 quadrillion won ($4.24 trillion), which has now become 2.5 times the GDP of the country. Thus, …

Hong Kong, known for its high cost of living, has relinquished its position as the world’s most expensive city for expatriates to Singapore. The shift in rankings is primarily attributed to the soaring property prices in both cities. For years, Hong Kong has held the top spot in the annual surveys of the world’s most expensive cities for expats. However, …

Indonesia and Malaysia have taken a significant step forward in enhancing their digital payment capabilities by initiating the implementation of QR code payments under the ASEAN system. This move aims to promote greater interoperability and seamless cross-border transactions within the region. The adoption of QR code payments is part of the broader efforts by the Association of Southeast Asian Nations …

As the cost of living continues to soar in Singapore, an increasing number of expatriates are looking beyond the city-state’s borders for more affordable alternatives. Malaysia and Vietnam have emerged as popular destinations for expats seeking a higher quality of life while managing their expenses. Singapore, known for its high standard of living, has become considerably more expensive in recent …

In a significant development for Southeast Asia’s economic landscape, both the Malaysia Ringgit and the Singapore Dollar have experienced a historic slump, reaching all-time lows against major currencies. CNA provides valuable insights into the various factors contributing to this drastic decline and its implications for the regional economies. One key factor influencing the slump is the evolving global market dynamics. …

Singapore is known for its thriving economy and lucrative job market. In 2023, certain industries in Singapore are offering highly competitive salaries, with some jobs even crossing the six-figure mark. Let’s delve into the highest-paying industries and explore the in-demand professions that are paving the way for financial success in Singapore. Finance and Banking The finance and banking sector in …

Thailand’s jobless rate has reached its lowest point in three years during the first quarter, signaling a positive recovery in the country’s labor market. The remarkable decline in unemployment can be attributed to the resurgent tourism industry, which has seen a significant revival in recent months. The COVID-19 pandemic had a devastating impact on Thailand’s tourism sector, leading to widespread …