Developing Asia is set to grow at 4.8% this year and next, according to the Asian Development Bank’s outlook. The positive forecast comes as the region reopens with “impressive dynamism,” following the pandemic. Private consumption, investment, and services, including tourism, are reviving, boosting the outlook for the region and the global economy. The standout growth region this year will be South Asia, with India’s strength driving growth of 5.5%, followed by Indonesia at 4.5%. The World Bank says while region-wide economic activity has recovered, many Pacific island countries have output levels below pre-pandemic levels. The Bank warns that a lack of productivity-enhancing structural reforms over the past two decades means convergence between East Asia and Pacific countries with high-income countries has stalled. The International Monetary Fund expects China's post-pandemic reopening to bolster global growth, as advanced economies face the risk of a hard landing.