The Internet has taken Southeast Asia by storm, according to the first-of-its-kind study by the two firms, and digital will help drive what was once one of the most under-developed regions of the world into a US$200 billion economy by 2025.
Rich with talent, customers and capital, the region is expected to reach US$50 billion driven largely by the e-commerce and online travel.
The region is edging out mainstays of Asia’s Internet landscape, India and China, to emerge as an Internet-savvy hub where users spend an average 3.6 hours on the mobile Internet every single day.
That’s higher than the averages in Japan (one hour), the US (two hours) and the United Kingdom (1.8 hours).
Google and Temasek’s report – building on top of the success of their 2015 edition – is filling a data void on more information about Southeast Asia, so it’s no surprise that the top-line numbers have raised eyebrows.
There’s an expectation that the numbers quoted by the 2017 “e-Conomy” report will be exceeded quickly, as the region is already expected to make a quarter of its projected value in this year alone suggesting that region is bursting with real potential. Southeast Asians spend 3.6 hours on mobile Internet every day
The Latest on Covid-19 in Southeast Asia
Thailand has largely avoided widespread community transmission of Covid-19, but the kingdom is not faring well on the economic front, with a projected contraction of 7.1 percent this year.
China’s debt-trap diplomacy: Laos’ credit rating downgraded to CCC
Laos’ debt challenge is deeply concerning, with some media commentators suggesting the country is falling into a debt trap as a result of Chinese infrastructure investments connected to the Belt and Road Initiative (BRI)
Foreign capital still heads to Vietnam
As many as 798 projects added a combined over 5.11 billion USD to their investment capital, down 23 percent year-on-year in project number but up 6.8 percent in value.
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