Tourism Boosts Pacific Economic Outlook, but Climate change, Rising Prices Pose Risks

After an average economic contraction of 0.6% in 2021, ADB’s Pacific Economic Monitor (PEM), released today, says the Pacific is expected to grow by 4.7% this year and 5.4% next year.

How COVID-19 Pushed 4.7 million More People in Southeast Asia into Extreme Poverty

Two years after the pandemic began, the report says growth prospects are brighter for economies with widespread technology adoption, resilient merchandise exports, or rich natural resources

Covid Left Millions in Asia Struggling for Food

The pandemic hit Asia’s food supply hard, causing a sharp increase in the number of people unable to access enough food to stay healthy and feed their families. Women, children and the poor have suffered most.

Reviving the Economy and Resuming Travel and Tourism in the COVID-19 Era

The coronavirus disease (COVID-19) pandemic triggered an unprecedented collapse of the travel and tourism industry and the recovery is now expected to be slower than first thought. The Asia and Pacific region, alone, was expected to lose almost 70 million jobs and $1.1 trillion in GDP—more than any other region in the world.

Thailand cited as one of the ten most flood-affected countries in the world

Floods are by far the greatest natural hazard facing Thailand in terms of economic and human impacts. Thailand is cited as one of the ten most flood-affected countries in the world. Drought and cyclone impacts also represent major hazards. All may intensify in future climate scenarios.

Developing Asia growth set to rebound to 7.3% in 2021 (ADB)

Thailand slow vaccination progress coupled with a surge of infections has prompted Kasikorn Research Centre to lower its growth projection for the Thai economy this year from 2.6 percent to 1.8 percent. However, ADB’s forecast for Thailand growth in 2021 remains set at 3% (and 4.5% in 2022).

12 Things to Know about the ASEAN Catalytic Green Finance Facility (ACGF)

The ACGF is an ASEAN Infrastructure Fund initiative managed by ADB’s Southeast Asia Department Innovation Hub. It helps Southeast Asian governments prepare and finance infrastructure projects promoting environmental sustainability and contributing to climate change goals.

Can Fintech drive a strong post-COVID-19 recovery in Asia?

The pandemic has highlighted the power of digital technology. Now is the time to harness this power for inclusive growth so that communities, especially in poor and remote areas, can survive the crisis and thrive.