Combined, ASEAN forms one of the fastest growing economic powerhouses and is one of the world’s top five economies, behind the US, EU, China and Japan. Find out how HSBC can connect you to opportunities across ASEAN, and beyond.
Talk to us today

Connecting businesses to where the growth is

Source: PwC, The Future of ASEAN: Time to Act

What is ASEAN?

At the centre of the Asian region is ASEAN – the Association of Southeast Asian Nations, formed in 1967. The association is made up of ten nations: Singapore, Malaysia, Vietnam, Thailand, Philippines, Indonesia, Brunei, Lao, Myanmar and Cambodia. During ASEAN’s original inception, economic growth, social progress, cultural development and regional peace were cemented as the core principles by the founding nations and still stand strong today.

They have successfully weathered both the Asian financial crisis of 1997 and the global economic crisis of 2008-09, to make it one of the world’s top 5 economies. ASEAN’s countries equate to a total of 642 million people, accounting for over 8% of the world’s population with a GDP of US$2.76tn growing at a rate of 4.7% - this is significantly higher than any other global region and translates to a per capita metric of US$4,308.

Your guide to doing business in ASEAN

Through the years in ASEAN, HSBC has been part of the prosperous economic growth along the way. Today, ASEAN has become one of the world’s top 5 economies and the world’s fastest growing trade bloc, supported by its young dynamic and digital population.

The Philippine government is investing the “Build Build Build” program. Under this program, the country is investing USD200 billion in rebuilding its infrastructure across the entire country encompassing power generation plants, dams, roads, airports which will help bring down the costs of production, improve rural incomes, encourage countryside investments, make the movement of goods and people more efficient, and create more jobs. For companies wanting to do business in the Philippines, this is an exciting time to be part of the infrastructure rebuild story.

Graham FitzGerald President & CEO, Philippines, HSBC

Business benefits & opportunities

Now more than ever, companies from all over the world are looking to ASEAN to expand their operations from within the bloc around Asia and globally.

Shifting demographics

ASEAN is home to a dynamic demographic with 35% of the population under 20 years old and 65% to be classed as middle income by 2030, raising spending to hit US$2.3 trillion.

Talk to us today

Fast economic and trade growth

Currently, ASEAN as a trade bloc is one of the top 5 economies in the world, with its GDP set to exceed US$4tn by 20225. Current exports total US$1.3tn, with forecasts predicting exports to rise to US$2.8tn by 2025, making ASEAN the world's fastest-growing trade bloc2&3.

Talk to us today

The rise of digital

ASEAN’s digital economy is growing rapidly, with expanding digital networks and growing numbers of mobile phone and Internet users – ASEAN has more people coming online than any other region in the world, with eCommerce forecast to grow to US$88 billion by 2025.

Talk to us today

Cross-border connections

ASEAN has driven a significant reduction in trade barriers across the ASEAN and ASEAN + 6 (Australia, China, India, Japan, New Zealand, The Republic of Korea), easing the cost and complexities of trading across the region – and continued easing of restrictions on labour movement for selected professions and new talent gives businesses access to a young dynamic workforce.

Talk to us today


1 HSBC in ASEAN (ISB Pitchbook)
2 ASEAN. Driving Your Ambition (Accenture ASEAN Consumer Research)
3 ASEAN Statistical Year Book 2018
4 ASEAN Investment Report 2018
5 PwC, The future of ASEAN: Time to act

Interested in expanding your business to ASEAN?

Get in touch


The Association of Southeast Asian Nations (ASEAN)

The content on this page (“ASEAN website”) was prepared by The Hongkong and Shanghai Banking Corporation Limited – Philippine Branch (“HSBC” or “we”).

The information contained in this ASEAN website is derived from sources we believe to be reliable but which we have not independently verified. HSBC makes no representation or warranty (express or implied) of any nature nor is any responsibility of any kind accepted with respect to the completeness or accuracy of any information, projection, representation or warranty (expressed or implied) in, or omission from, this ASEAN website. No liability is accepted whatsoever for any direct, indirect or consequential loss (whether arising in contract, tort or otherwise) arising from the use of or reliance on this ASEAN website or any information contained herein by the recipient or any third party. If you seek to rely in any way whatsoever upon any content contained in this ASEAN website, you do so at your own risk.

This ASEAN website does not constitute an offer or solicitation for, or advice that you should enter into or start using, any of the arrangement, product or services mentioned in this ASEAN website. Recipients should not rely on this ASEAN website in making any decisions and they should make their own independent appraisal of and investigations into the information described in this ASEAN website. No consideration has been given to the particular business objectives, financial situation or particular needs of any recipient. Any examples given are for the purposes of illustration only.

All the information set out in this ASEAN website is provided in good faith to the best of HSBC’s knowledge and understanding of the current law, rules, regulations, directions and guidelines governing or otherwise applicable to the relevant services offered by HSBC but HSBC makes no guarantee, representation or warranty and accepts no liability as to its accuracy or completeness. Future changes in such law, rules, regulations etc. could affect the information in this ASEAN website but HSBC is under no obligation to keep this information current or to update it. Expressions of opinion are those of HSBC only and are subject to change without notice.

Copyright © The Hongkong and Shanghai Banking Corporation Limited – Philippine Branch 2019. All rights reserved. No part of this ASEAN website may be reproduced, stored in a retrieval system, or transmitted, on any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of HSBC.

Issued by The Hongkong and Shanghai Banking Corporation Limited – Philippine Branch. The Hongkong and Shanghai Banking Corporation Limited is incorporated in the Hong Kong SAR with limited liability.

For inquiries or complaints, you may contact The Hongkong and Shanghai Banking Corporation Limited – Philippine Branch (""HSBC Philippines"") through your dedicated Relationship Manager. If you want to find out more about HSBC's Philippines' customer feedback procedures, please visit

HSBC Philippines is an entity regulated by the Bangko Sentral ng Pilipinas (""BSP""). You may also contact the BSP Financial Consumer Protection Department at (02) 708-7087 or

You are leaving the HSBC Commercial Banking website.

Please be aware that the external site policies will differ from our website terms and conditions and privacy policy. The next site will open in a new browser window or tab.

You are leaving the HSBC Commercial Banking website.

Please be aware that the external site policies will differ from our website terms and conditions and privacy policy. The next site will open in a new browser window or tab.