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Southeast Asia's internet economy expected to reach $1 trillion by 2030, according to a study

Southeast Asia's internet economy expected to reach $1 trillion by 2030, according to a study

Southeast Asia's internet economy is forecast to reach $1 trillion by 2030, as tens of millions more people take up online shopping and embrace food delivery, an industry report said on Thursday.

By Alphabet's (GOOGL.O) Google, Singapore state investor Temasek Holdings, and global business consultants Bain & Company, the report said the region had added 60 million new internet users since the start of the coronavirus pandemic, taking the total to 440 million.

The region of 11 countries is one of the fastest-growing internet markets due to a young population, rapid smartphone usage and urbanization, and a burgeoning middle class.

The online industry for Southeast Asia is expected to grow from an estimated $174 billion in gross merchandise volume (GMV) by end-2021 to $360 billion by 2025 and $1 trillion by 2030, driven primarily by growth in e-commerce and food delivery, as consumers stuck at home turned to the internet.

The report, which covers Indonesia, Thailand, Vietnam, Singapore, Malaysia, and the Philippines, found that e-commerce GMV is expected to nearly double to $120 billion by the end of the year and reach $234 billion by 2025.

All countries covered experienced double-digit growth in 2021. Indonesia alone, the region's most populous nation, contributes 40% of Southeast Asia's total GMV at $70 billion.

The Philippines saw 93% growth, becoming a $17 billion digital economy.

"GMV (for Southeast Asia) has increased 49% year-on-year, as seismic consumer and ecosystem shifts accelerated by COVID continue to drive a massive digital adoption spurt," said Florian Hoppe, Bain's Asia-Pacific Head of Digital Practice.

Source:

Southeast Asia internet economy to hit $1 trln by 2030 .... https://www.nasdaq.com/articles/southeast-asia-internet-economy-to-hit-%241-trln-by-2030-report-says 

 

Akhyari Hananto

I began my career in the banking industry in 1997, and stayed approx 6 years in it. This industry boost his knowledge about the economic condition in Indonesia, both macro and micro, and how to More understand it. My banking career continued in Yogyakarta when I joined in a program funded by the Asian Development Bank (ADB),as the coordinator for a program aimed to help improve the quality of learning and teaching process in private universities in Yogyakarta. When the earthquake stroke Yogyakarta, I chose to join an international NGO working in the area of ?disaster response and management, which allows me to help rebuild the city, as well as other disaster-stricken area in Indonesia. I went on to become the coordinator for emergency response in the Asia Pacific region. Then I was assigned for 1 year in Cambodia, as a country coordinator mostly to deliver developmental programs (water and sanitation, education, livelihood). In 2009, he continued his career as a protocol and HR officer at the U.S. Consulate General in Surabaya, and two years later I joined the Political and Economic Section until now, where i have to deal with extensive range of people and government officials, as well as private and government institution troughout eastern Indonesia. I am the founder and Editor-in-Chief in Good News From Indonesia (GNFI), a growing and influential social media movement, and was selected as one of The Most Influential Netizen 2011 by The Marketeers magazine. I also wrote a book on "Fundamentals of Disaster Management in 2007"?, "Good News From Indonesia : Beragam Prestasi Anak Bangsa di dunia"? which was luanched in August 2013, and "Indonesia Bersyukur"? which is launched in Sept 2013. In 2014, 3 books were released in which i was one of the writer; "Indonesia Pelangi Dunia"?, "Indonesia The Untold Stories"? and "Growing! Meretas Jalan Kejayaan" I give lectures to students in lectures nationwide, sharing on full range of issues, from economy, to diplomacy Less
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