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