An increasing number of employees in US companies are requesting postings in Southeast Asia as economies in the region are emerging, Wall Street Journal reports.
The changing tide is due to the downturn in China and India who previously enjoyed the spotlight. According to a survey by the American Chamber of Commerce in Singapore and the US Chamber of Commerce, the growth in the Association of Southeast Asian Nations (ASEAN) is creating a suitable environment for US companies. A report entitled 2012/2013 Asean Business Outlook said that US companies are expecting stable growth and are planning to expand. The Philippines is among the most requested posts of executives, increasing from 15% of surveyed executives two years ago to 40% this year.
Companies from Japan, Korea and China have already tapped the ASEAN market. Senior director of Southeast Asia at the US Chamber told the Journal, “There is no growth in Europe and no growth in the US, and in other emerging markets the growth opportunities are not quite this strong … there is long-term commitment to this region”.
