Based on Google research, the internet economies in Malaysia, Thailand, Singapore, and the Philippines are growing by between 20% and 30% annually, with no signs of slowing down. This is a remarkable feat compared to other regions, but hardly the best showing in Southeast Asia. The two pacesetters in the region are Indonesia and Vietnam, which lead the pack with growth rates in excess of 40% a year.
Back in 2016, Google and Temasek launched a multi-year research program to delve into the internet economies of Southeast Asia. During this year, Bain & Company joined as lead research partner, as Google continues tracking the growth of the internet economy in the region, expanding their vertical coverage to Digital Financial Services and diving deeper into e-Commerce, Media, Ride Hailing, and Travel.
Read the full key findings from the e-Conomy SEA 2019: Swipe up and to the right: Southeast Asia’s $100 billion internet economy report here.
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