77811
Southeast Asia Internet Economy to Reach $50b
Southeast Asia Internet Economy to Reach $50b

Southeast Asia Internet Economy to Reach $50b

Southeast Asia Internet Economy to Reach $50b

Digital businesses can’t afford to ignore Southeast Asia, according to a new report by Google and Singaporean state investment vehicle Temasek.
Home to fast-growing economies such as Indonesia and the Philippines, Southeast Asia boasts a massive internet user base that’s overwhelmingly focused on mobile. That will push the region’s internet economy to hit $50 billion this year and $200 billion by 2025, growing from 2% of regional gross domestic product to 6% by 2025, the report said, CNBC reported.
“Users in Southeast Asia are incredibly engaged, spending an average of 3.6 hours per day on mobile internet, more than in any other region in the world ... These incredible levels of engagement have led to a sizable market opportunity.”
Focusing on e-commerce, ride hailing and overall venture capital investments, the report highlighted just how explosive Southeast Asia’s Internet economy is.
E-commerce sales of first-hand goods will reach $10.9 billion in gross merchandise value this year, up from $5.5 billion in 2015, the report found. Momentum is chiefly driven by mobile-first marketplaces such as Lazada and Tokopedia, where small and medium businesses sell to consumers.
Ride hailing services are expected to hit $5.1 billion in gross merchandise value this year, more than double from $2.5 billion in 2015, and could reach $20.1 billion in 2025, the report said.
Players such as Grab and Go-Jek have also expanded their offerings beyond consumer transportation to focus on payments and lifestyle services, increasing their attraction to customers, the report said.
Between 2016 and the third quarter of this year, Southeast Asian internet companies raised more than $12 billion of capital, up from $1 billion in 2015, the report stated.

 

Short URL : https://goo.gl/ZJ6B1Z
  1. https://goo.gl/zYQmjX
  • https://goo.gl/bW3Wu6
  • https://goo.gl/oyL8No
  • https://goo.gl/V1SVwY
  • https://goo.gl/BnUejU

You can also read ...

Nigeria CB Reports $91b FX Inflow in 2017
The Central Bank of Nigeria, said the aggregate foreign...
Egypt Keeps Rates Steady
Egypt’s central bank left its main interest rates unchanged,...
China Internet Stocks Fumble
A steep downturn in heavyweight Chinese internet stocks and...
S&P, Moody’s Lower Turkey Ratings
Two major global ratings agencies lowered Turkey’s ratings Aug...
Long Road to Greek Recovery
On Monday, Greece exits the third and final bailout program of...
The average annual salary for K–12 public-school teachers is roughly $58,000, and they typically spend a sizable chunk  of that on classroom supplies integral to their jobs
Airbnb, the popular platform that lets people rent out their...
Venezuela Devalues Currency by 95 Percent
Venezuela devalued its currency by about 95% ahead of the Aug...
Eurozone Economic Health Unclear
More evidence that eurozone growth has slowed this year is...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus