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Meanwhile across other Southeast Asian markets, namely Singapore and Thailand, the ecommerce share of retail sales dipped in 2023 as offline activities gradually returned to pre-pandemic levels, and that share will remain flat in 2024. To view the full forecast, click here.

Countries in Asia, like Singapore, have also embraced advertising restrictions as part of broader health initiatives. While ad bans can influence behavior, their effectiveness depends on broader policy approaches and cultural contexts. 鈥淚t鈥檚 complicated,鈥� Cramer-Flood said.

Singapore-based Sustainable Metal Cloud (SMC) is developing immersion cooling technology for data centers and has partnerships with Nvidia and Deloitte. Energy constraints have become an enormous bottleneck for AI development, according to Meta CEO Mark Zuckerberg, and developing tech to help large AI companies support their models could be a lucrative new sector.

Shein: founded in China in 2008 and now headquartered in Singapore. Alibaba: launched in 2010 with AliExpress to sell products made in China to overseas markets; and Miravia, a new marketplace operating in Spain. TikTok Shop: launched in the UK in 2021. Temu: launched by PDD Holdings in 2022 and in European markets in 2023. Temu and Shein have invested heavily in customer acquisition.

Asia-Pacific is key to TikTok鈥檚 growth thanks to its expanding number of users, swelling middle class, and friendlier political environment. Which countries are leading the way, and how will TikTok continue its growth?

Sustainability awareness is high in Asia-Pacific, where the majority of consumers are open to spending more on eco-friendly products. How can brands and retailers capitalize on the green opportunity鈥攚hile also doing good for the environment?