ASEAN Aims to Become the Fourth-Largest Economy by 2030
Regional growth fueled by the expansion of trade, investment, and the resurgence of tourism.
ASEAN is poised to become the world's fourth-largest economy by 2030, fueled by the expansion of trade and growth in investment. In a speech in Phnom Penh, ASEAN Secretary-General Kao Kim Hourn underscored the region’s economic progress and its efforts to enhance trade relations.
In 2023, foreign direct investment in ASEAN reached $240 billion, while trade volume soared to $3.5 trillion, bolstered by increased involvement from China, the U.S., and other regional partners. Cambodia’s economy also continues to thrive, with international trade exceeding $5 billion in January 2025.
Tourism plays a vital role as well, with ASEAN anticipating a return of visitor numbers to pre-pandemic levels this year. Nevertheless, although Cambodia is welcoming more tourists in 2024 than it did in 2019, revenue from Angkor ticket sales remains below pre-pandemic amounts. Decision-makers are now focusing on infrastructure development and digital transformation to ensure ongoing growth.
In 2023, foreign direct investment in ASEAN reached $240 billion, while trade volume soared to $3.5 trillion, bolstered by increased involvement from China, the U.S., and other regional partners. Cambodia’s economy also continues to thrive, with international trade exceeding $5 billion in January 2025.
Tourism plays a vital role as well, with ASEAN anticipating a return of visitor numbers to pre-pandemic levels this year. Nevertheless, although Cambodia is welcoming more tourists in 2024 than it did in 2019, revenue from Angkor ticket sales remains below pre-pandemic amounts. Decision-makers are now focusing on infrastructure development and digital transformation to ensure ongoing growth.
