News ID: 259891
Published: 1125 GMT October 08, 2019

Southeast Asia’s net economy to top $100b this year

Southeast Asia’s net economy to top $100b this year
HONG MENEA

Southeast Asia’s Internet economy is on track to exceed $100 billion this year before tripling by 2025, becoming one of the world’s fastest-growing arenas for online commerce thanks to a youthful population increasingly comfortable with smartphones.

The value of online transactions in areas from Internet retail to car-hailing should reach $300 billion by 2025, fueled by an existing population of 360 million online users, according to a research report by Google, Temasek Holdings and Bain & Co., the Economic Times wrote.

The region, home to ride-hailing Grab and Alibaba Group Holding’s ecommerce site Lazada, includes four countries — Thailand, Philippines, Indonesia and Malaysia — in the top 10 globally in terms of time spent by users online, the study showed.

Indonesia, the world’s fourth most-populous country with 264 million people, will anchor a region that also includes Singapore and Vietnam.

The annual report, previously helmed by Google and Temasek, measures gross merchandise value in e-commerce, ride-hailing, online media and online travel and has become a prime reference for the region’s Internet industry.

Bain joined as a lead partner this year and the study encompassed digital financial services for the first time.

 

   
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