Tech Trends & News

Southeast Asia Internet economy will reach $100 billion by the end of this year

people in the region went online to shop for the first time and the rising-stock companies grew in popularity, An industry report showed on Thursday.

A passenger takes a ride on a Go-Jek motorcycle taxi in Jakarta on May 24, 2018. - Indonesian ride-hailing app Go-Jek said on May 24 it would expand into Vietnam, Thailand, Singapore and the Philippines as it takes on regional rival Grab in the fast-growing Southeast Asian market. (Photo by Bay ISMOYO / AFP) (Photo credit should read BAY ISMOYO/AFP/Getty Images)

Today News Webmains Tech | 03 Oct 2019

Singapore-southeast Asia’s internet economy is expected to grow 39% this year to $100 billion.

as millions of people in the region went online to shop for the first time and the rising-stock companies grew in popularity, An industry report showed on Thursday.

The annual report by Google, the Singapore state investor Temasek Holdings and global business consultant Bain & the company also raised forecasts for regional growth through 2025 to $300 billion, from $240 billion previously.

The regional online industry has more than tripled in the last four years only as a young user switched to their mobile phone to do everything from banking, playing games and buying airline tickets.

“This growth rate has exceeded all expectations,” reports 64 pages, which were first produced in 2016, said. “Internet access is now affordable for large segments of the population and consumer confidence in digital services has been significantly improved. ”

Over $37 billion have invested in the Southeast Asian online company for the last four years with the majority going to e-commerce companies like Zilingo and riding-calling Grab and Gojek, reports found.

Ride-Hailing course is worth $13 billion, with a quadrupling value since 2015, and is expected to reach $40 billion by 2025 when food delivery will be worth as much as transportation.

source : (Reuters).