Monday, 28 November 2022

e-Economy 2022 report: Southeast Asia’s digital economy is on course towards $200B GMV in 2022, three years earlier than projected

5 min read

Today, Google, Temasek and Bain & Company released the seventh edition of the e-Conomy SEA report - Through the waves, towards a sea of opportunity. The report shares an update on how digital economy sectors are tracking across six countries - Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. 

This year, the report projects that Southeast Asia’s digital economy is on track to hit $200B GMV in 2022, three years earlier than was anticipated in the inaugural report shared in 2016. Here are some key highlights that you can look forward to:

  • With 100M users coming online in the past 3 years, digital adoption has normalised – businesses will have to shift their strategies shift from acquisition to engagement

  • Double-digit growth is seen across all digital financial services (DFS) sub-sectors due to enduring offline to online behaviour shifts post-pandemic

  • Tech funding maintains strong momentum despite investors’ prudent disposition, with a 13% growth in deal value from H1 2021 to H1 2022

  • SEA’s digital economy is expected to grow twice as fast as GDP in most Southeast Asian countries and could reach up to $1T by 2030

Re-disseminated by The Asian Banker

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