Research

"It was four full months since border reopened, and Hong Kong has welcomed 7.3 million visitors (5.7 million from Mainland) over the period, representing around 30% of pre-COVID levels."

"Ha Noi’s GDP growth improved by 5.8% YoY in Q1/2023, higher than the national average of 3.3% YoY. Industry and construction expanded by 2.4% YoY, and services saw robust growth of 7.4% YoY. Administration and services recorded the greatest increase at 35.1% YoY, followed by finance, banking, and insurance at 9.7% YoY, real estate at 9.4% YoY while warehousing and transportation increased by 6.9% YoY."

"There has been a change in the economic structure of most Southeast Asian countries, including Indonesia with the manufacturing sector gradually taking over from agriculture. In the first quarter of 2023, the contribution of agriculture to Indonesia’s gross domestic product was around 12.5%, while manufacturing contributed approximately 23.5%."

"The World Bank has affirmed that GDP is projected to grow by 6.3% in 2023-24, while the average inflation rate is estimated to be 5.2% over the same period. The primary factors contributing to the downward trend in inflation include the easing of global commodity prices, a slower pace of currency depreciation, and a moderation in domestic demand."

"The pandemic has expedited demand for digital infrastructure in Japan, which has served as a catalyst for economic growth and investment, with foreign direct investment into communications having seen significant increments over the past few years to more than JPY300 billion in 2022."

"In 2022, Malaysia’s economy experienced a significant rebound alongside the country’s transition into an endemic phase and the reopening its borders, beginning 1st April 2022. However, at the start of 2023, the pace of economic growth started to moderate. "

"Co-living is defined as a form of rental housing which includes shared living rooms and kitchens apart from private rooms within a single building."

"The tourism industry has played a significant role in the economic recovery of Macau. The city’s gaming revenue saw an astounding YoY growth of over 300%, reaching 49.3 billion in the first four months of 2023. Moreover, statistical data as of April 2023 indicates that the rebound in gaming revenue has exceeded the quarterly target and is expected to continue its upward trend."

"With increasing economic challenges and the shedding of workers in the tech industry, the Singapore office market is now at a crossroads. Although many tenants have been impacted by the troubles afflicting their respective industries, their office leases still have a reasonable runway left, courtesy of signing long term leases when times were good. However, today, more find themselves with space which they do not need and are actively trying to lease out."