Asia
The rise of Asia: What it means for events
THEO REILLY LOOKS AT REPORTS THAT ASIA WILL DOMINATE THE 21ST CENTURY, AND CONSIDERS WHAT THIS MEANS FOR EVENTS
T he events sector follows the
market – and the market is moving East. Once a hub for textile sweatshops and cheap holidays( with the exception of Japan), China and Southeast Asia are now the envy of the world in economic standing.
In PwC’ s‘ The World in 2025’ report, analysts predicted that Asia will hold 52 % of global GDP by 2050. The G7 countries – Canada, France, Germany, Italy, Japan, the UK and the US – are expected to be eclipsed by a new band of countries – the‘ E7’. This band will consist of China, India, Indonesia, Brazil, Russia, Mexico and Turkey, and together they account for over double the wealth of the G7.
PwC’ s report came out in 2017, and so far it is proving true. China has overtaken the USA economically.
Countries like Vietnam and Indonesia are rocketing ahead with 5-7 % annual growth. Crime is down, investment is up and there’ s a quiet confidence that the East will soon surpass the West.
“ The burgeoning middle classes across Southeast Asia suggest that these regions will emerge as significant economic markets in the future,” says Stuart Bailey, chairman of the Hong Kong Exhibition and Convention Industry Association.“ China’ s first-mover advantage positions it
Left: President Putin shakes hands with President Xi at the Belt and Road Forum
“ The G7 countries are expected to be eclipsed by a new band of countries – the‘ E7’ and this band will account for over double the wealth of the G7.”
Left: Skyline of Shenzhen, China ' s manufacturing powerhouse as an important economic partner, particularly in Vietnam.”
What does a rising Asia mean for events?
New knowledge capitals China now produces over 3.6m STEM graduates ever year – four times as many as the US. This huge pool of researchers will create the next generation of tech, ensuring that tier-one Chinese cities like Beijing, Shanghai and Shenzhen are cemented as world leaders in innovation.
Already, nine of the top ten research institutes in the world are Chinese, such as University of Chinese Academy of Sciences( Beijing), University of Science and Technology of China( Hefei) and Peking University( Beijing). Scientific and knowledge-sharing conferences will increasingly seek out collaborations with Chinese experts.
Rise of intra-Asian events For a large chunk of its history, Asia has been at war with itself. China, Japan, South Korea, Vietnam and the Philippines have only recently set aside hostilities and agreed to work together. These partnerships are new, and can be shaky. Regional summits and events are crucial as a way for officials to develop and maintain public relations.
In February 2025, a conference was held between defence ministers from Japan and the Philippines to forge stronger security ties.
On 21 April 2025 deputy PM of Singapore Gan Yong used the JS-SEZ joint business and investment forum to announce that Asian companies should integrate Singapore and Johor, Malaysia into their supply chains to avoid fallout from the US-China trade war.
What’ s more, China called an“ emergency” meeting in response to US president Trump’ s tariffs on 8-9 April 2025 – a meeting called the Central Conference on Work Relating to Neighbouring Countries. There, Chinese president Xi announced to key regional partners the need for
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