SINGAPORE — Southeast Asia is likely to outpace China’s economic growth and inflow of foreign direct investments over the next ten years, a new study led by a Singapore-based think tank showed, as the region benefits from growing demographics and a global supply chain shift.

The Southeast Asia Outlook 2024-2034 report, which was released on Thursday by Angsana Council, U.S. consultancy Bain & Co. and Singapore’s DBS Bank, projected the gross domestic product of six regional economies: Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.