Rolls-Royce says strong economic growth across Asia is good for business.

CEO Torsten Muller-Otvos says after a tour of the region he sees strong third-quarter growth in China and confidence continuing to grow in Japan.

In Manila to officiate at the opening of Rolls-Royce’s business in the Philippines, he says he found the number of ultra-high-net-worth individuals in that country enjoying double-digit growth.

Muller-Otvos says the effects of positive Japanese government economic measures will continue to be seen over the medium term, as the number of ultra-high-net-worth individuals there shows 11% growth.

“Rolls-Royce’s confidence continues to grow in Japan, driving good year-to-date growth following expansion into Osaka and a recent move to a significantly larger, premium space in Tokyo,” he says.

Against a backdrop of negative market sentiment in the mass-luxury automotive segment, Rolls-Royce reported sound third-quarter and year-to-date growth in China thanks to demand for Phantom and Ghost models and a rapid rise in in the number of Chinese customers commissioning highly bespoke cars.

“I am delighted to report very pleasing growth across Asia,” Muller-Otvos says. “Continuing success in existing markets and successfully executed entry into emerging territories forms a key part of our long-term sustainable growth plans.”