High-Growth Companies Asia-Pacific 2023

In partnership with the Financial Times, Statista identified 500 of the Asia-Pacific region’s high-growth companies. This list is the fifth annual ranking of growth champions in the region with high revenue growth between 2018 and 2021.

List of High-Growth Companies Asia-Pacific 2023

Project registration

Companies that are interested in participating in next year’s ranking can register below to be notified when applications open.

Did your company make the list?

The “Winner’s Portal” for award-winning companies offers a unique overview of the use of the official Growth Champion certificate as well as the terms and conditions and a personal contact.

The Project

The Asia-Pacific High-Growth Companies ranking is a list of the Top 500 companies in the region that have achieved the highest growth rate in revenues between 2018 and 2021 (China has been omitted due to difficulties in verifying data). The annual high-profile list compiled by Statista and the Financial Times is a visible and public acknowledgment of fast-growing companies in the Asia-Pacific region which is published online and as a supplement within the weekday edition of the FT newspaper.

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Highest CAGR


Minimum CAGR to be included


Companies awarded


Calculation of growth rates

The calculation of company growth rates is based on the revenue figures submitted by the companies in the respective national currency. For better comparability in the ranking the revenue figures were converted into US-Dollar. The annual exchange rate of 2018 and 2021 provided by The World Bank for each currency-pair were used for this.

The compound annual growth rate (CAGR) was calculated as follows:

CAGR formula for 2023 - Revenue of 2021 divided by revenue of 2018 to the power of 1/3 minus 1 is CAGR


Application Phase

The project was advertised online and in print, allowing all eligible companies to register via the websites created by Statista and the Financial Times. In addition, through research in company databases and other public sources Statista has identified tens of thousands of companies in Asia-Pacific as potential candidates for the ranking. These companies were invited to participate in the competition by post and email.

The application phase ran from June 2022 to January 2023. The submitted revenue figures had to be certified by the CFO, CEO or a member of the Executive Committee of the company.


To be included in the list of Hight-Growth Companies Asia-Pacific, a company had to meet the following criteria:

  • Revenue of at least $100,000 generated in 2018 (or currency value equivalent according to the average of the actual fiscal year).
  • Revenue of at least $1m generated in 2021 (or currency value equivalent according to the average of the actual fiscal year).
  • Be independent (the company is not a subsidiary or branch office of any kind).
  • Revenue growth between 2018 and 2021 that was primarily organic (ie “internally” stimulated)

The list ranks entrants from Singapore by their compound annual growth rate (CAGR) in revenue between 2018 and 2021. The fiscal years that predominantly falls into 2018 and 2021 were used for this calculation.

Quality Assurance

All data reported by the companies was processed and checked by Statista. Missing data entries (employee numbers, address data, etc.) were researched in detail. Companies that did not fulfill the criteria for inclusion in the ranking were deleted.
The minimum average growth rate required to be included in the ranking this year was 16,3%.

A detailed report on our methodology for “High-Growth Companies Asia-Pacific 2023” is available.

Our Partner

The Financial Times is one of the world’s leading business news organizations, recognized internationally for its authority, integrity and accuracy. It is part of Nikkei Inc., which provides a broad range of information, news and services for the global business community.

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Lawrence Ho

Head of Licensing, Asia
+65 6995 6938