Manila, June 4, 2012–At the 45th annual meeting of the Asian Development Bank’s Board of Governors in Manila last month, the mood of the 4,000 delegates from 48 Asian countries was upbeat, mixed with a sense of pride. Amid the recession in Europe and the tepid economic growth in North America was the revelation that the combined national wealth of India, China and the ten-member Association of Southeast Asian Nations (ASEAN) could exceed that of the U.S. and European countries put together in the next 18 years, according to an ADB study.
ADB President Haruhiko Kuroda predicted a healthy GDP of 6.9 percent for developing Asia and the Pacific this year, which is expected to climb to 7.3 per cent in 2013. “These three region and countries (India, China and ASEAN) are on a path to significantly improve the quality of life of their citizens–in aggregate approaching half of the world’s population by 2030,” he said.
For the satellite industry, the ADB disclosure only confirms a growth trend that had been going on in Asia for some time. It also assures the satellite industry of continued development to serve 4 billion people in 51 countries of Asia, 60 percent of the world’s population, and provide 30% of the earth’s landmass with services already enjoyed by the developed countries of the world.
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