The World Bank's East Asia and Pacific Economic Update for October 2023 focuses on services for development. The report highlights the importance of the sector in driving economic growth and improving living standards in the region. It also notes that the COVID-19 pandemic has had a significant impact on the services sector, particularly in tourism and trade. The report emphasizes the need for governments to prioritize investment in infrastructure and human capital to support the recovery of the sector. Additionally, the report highlights the importance of promoting digitalization and innovation in the services sector to drive growth and improve competitiveness. Overall, the report underscores the critical role of services for development in the region and the need for continued support and investment to ensure their sustainable growth.
