Asia Pacific Set to Overtake US as Financial Services Powerhouse

According to Deloitte's latest report, Asia Pacific is poised to become a financial services powerhouse, generating up to US$4.8 trillion in economic value by 2035.

The region's economy is expected to expand to almost US$54 trillion by 2030, creating significant opportunities for financial institutions across the region, including New Zealand.

Catherine Law, Deloitte New Zealand Partner and Financial Services Leader, says Asia Pacific's growth presents 'significant opportunities' for New Zealand's financial services sector. However, she notes that capital, talent, technology, and regulation increasingly shape the future of financial services.

The report highlights four competitive battlegrounds that will define New Zealand's future in the industry: shaping the new financial system, winning the customer, navigating the AI inflection, and engaging with regulators.