Current Affairs PDF

Indonesia and Vietnam lead SE Asia’s $100bn internet economy: 4th e-Conomy SEA report for 2019

AffairsCloud YouTube Channel - Click Here

AffairsCloud APP Click Here

The 4th Edition of the report titled “e-Conomy SEA report 2019:Powering Southeast Asia’s $100 billion Internet economy” was jointly released by Google, Singapore investment company Temasek and American consultancy Bain & Company. As per the report, Indonesia and Vietnam led the SE (SouthEast) Asia’s $100bn internet economy becoming the fastest-growing digital economies in the region. Until 2018, this report was jointly published by Google and Temasek.

Key Points:
i. Total of 6 countries namely Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam were surveyed.
ii. Southeast Asia’s internet economy is on course to reach US$100bn in 2019, a 39% increase from $72bn in 2018.
iii. It is expected to triple in size to $300bn by 2025.
iv. Indonesia’s internet economy is the largest in the region, estimated at $40 billion in 2019, is expected to reach $133 billion mark by 2025. Vietnam’s internet economy is forecast to reach $12 billion in 2019 and up to $43 billion in 2025.
v. The average annual internet growth rate of Indonesia and Vietnam exceeded 40% since 2015 while the other 4 economies grew between 20%- 30% annually.
vi. Digital Payments are expected to cross $1 trillion by 2025 and digital lending is on track to build a $110 billion loan book by 2025.
vii. Another booming sector is online travel, which is estimated to be worth $34bn.

Google Inc:
Founded: 1998
Headquarters: California, US

About Temasek:
Founded: 25 June 1974
Headquarters: Singapore

About Bain & Company:
Founded: 1973
Headquarters: Boston, Massachusetts, U.S