Emerging Asian Tiger Cub countries attract more foreigners

A recent survey suggests that a number of emerging ‘Asian Tiger Cub’ countries are attracting a rising number of expats and foreign businesses.

The Legatum Institute’s Prosperity Index suggests that Indonesia is the fastest- growing Southeast Asian nation in terms of prosperity, placed 15th in the Asia Pacific ranking by the survey. In the worldwide ranking list, Malaysia ranks 45th, Vietnam comes in at 53rd, Thailand rates 56th and Indonesia takes the 63rd position.

According to the report, all four countries are on the road to catching up with the Asian Tiger leaders in the region as a result of direct foreign investment attracted by regional stability, a high output of components and electronics and a relatively cheap labour force. Of the Tiger Cub economies, Indonesia and Thailand received the highest amounts of foreign direct investment (FDI), at $8 billion and $8.6 billion respectively.

Indonesia’s is the starring success story, rising by 26 places since 2009, although Malaysia, 15th in the Economy sub-index, wins the prize for the highest ranking overall. In general, in the Asia Pacific region, Australia and New Zealand lead in the prosperity stakes, achieving fourth and fifth places with their all-round strong showing in the report’s sub-indexes.

Well-regarded Asian Tigers Singapore, Taiwan, Hong Kong and South Korea ranked 20th, 27th, 18th and 19th respectively, with Japan at 22nd place. The Legatum Prosperity Index regularly rates global wellbeing and wealth, comparing 142 countries in eight categories – Entrepreneurship and Opportunity, Economy, Education, Health, Governance, Safety and Security, Personal Freedom and Social Capital.