A consulting firm, Boston Consulting Group (BCG), figures 50 companies in Southeast Asia will emerge as the new market leaders in the region. Indonesian and Malaysian companies are the major contributors with a total of 12 corporations.
In The Companies Piloting a Soaring Region report obtained by VIVAnews, BCG announced that the 50 companies were selected from an analysis of geographic and economic diversity.
BCG at least listed around 500 companies in Southeast Asia of which annual income reach at least US$500 million per year.
The firm also measures top five companies in each area as well as considering their chances of turning into multinational companies.
Out of the abovementioned criteria, BCG came to conclusion that 50 companies in Southeast Asia may grow into multinational companies.
Indonesia and Malaysia contribute 12 first-rate companies each.
In the meantime, Singapore and Thailand can only produce 11 candidates of multinational companies each.
The Philippines and Vietnam only have two companies each that are considered worthy to spring up in regional and international markets.
Southeast Asia's economies have been out of the world's radar. The international community has so far only focused on India and China.
In fact, following the financial crisis in Asia in 1997-1998, Southeast Asia’s economies have recovered and developed significantly. The gross domestic product (GDP) of the Philippines and Singapore recovered completely in 1999.
Meanwhile, Malaysia, Thailand and Indonesia's economies recovered within 5 years.
Currently, Southeast Asia's GDP has reached US$3 trillion, greater than Brasil’s and Russia’s. Between 2005 and 2010, Southeast Asia’s economies grew more than 7% per year.
Now, the average per capita income of the people in Southeast Asia has climbed to nearly US$5.500.
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