DBS, Bain and Vriens & Partners forecast the six largest Southeast Asian
economies to grow 4.8% annually in 2026–2035 versus 4.1% in the prior decade,
with widening differences in growth quality and drivers. Singapore and Malaysia
are likely to capture disproportionate AI and advanced-technology investment:
Malaysia via U.S. semiconductor supply‑chain links and Chinese infrastructure
spending; Singapore as a regional hub—OpenAI already operating there and
ANTHROPIC planning expansion. Vietnam is expected to maintain relatively strong
growth. Thailand faces downside risks from population decline, high household
debt and political fragmentation; Indonesia is exposed to institutional
weakness, fiscal spending pressure and capital outflow risk; the Philippines is
vulnerable to long-term BPO disruption from AI-driven automation.
