The study investigates Industry 5.0 implementation readiness across EU and ASEAN regions by examining intelligent, sustainable, and human-centered manufacturing pillars. Analyzing 23 criteria across 33 countries through normalized indicators, the research reveals distinct patterns in Industry 5.0 adoption relative to economic development. The findings demonstrate that while economic resources influence implementation capabilities, successful adoption depends more critically on strategic policy choices and institutional frameworks. The analysis identifies a GDP per capita threshold of $40,000–60,000, where implementation capabilities accelerate across all dimensions. Singapore emerges as an exceptional performer among ASEAN nations, while Nordic countries consistently excel in the EU, providing valuable models across different economic contexts. Intelligent manufacturing and sustainability initiatives show stronger correlations with economic resources, while human-centered implementations demonstrate more flexibility across economic contexts. These insights suggest opportunities for developing economies to strategically enter Industry 5.0 through human-centric initiatives while building capacity for more resource-intensive aspects. The findings provide guidance for policymakers and industry leaders in developing comprehensive Industry 5.0 implementation strategies.