Globalization was once driven almost exclusively by the world’s governments, large multinational corporations, and major financial institutions.
But now—thanks to digital platforms with global reach—artisans, entrepreneurs, app developers, freelancers, small businesses, and even individuals can participate directly.
New research from the McKinsey Global Institute (MGI) uses novel data to analyze the extent of the connections and their economic impact.
The biggest of these online platforms have grown to a scale never before seen, and their users are increasingly international.
Individuals from Canada to Cameroon can forge their own global connections, whether for business, personal ties, entertainment, education, or simple curiosity about the world beyond their own borders.
MGI analysis of international ties on Facebook, Twitter, LinkedIn, and WeChat shows that some 900 million people have at least one international connection on social-media platforms (even adjusting for overlap between their users).
More than 12 percent of Facebook friendships are between people living in different countries, and half of active Facebook users have at least one cross-border friend—a threefold increase from 2014.
“Southeast Asia is a dynamic mobile first region, and the fastest growing for Facebook. Connecting the more than 241 million people in Southeast Asia to the friends and family, businesses and moments that matter to them is at the core of everything we do. We are committed to investing in resources and expertise to help our partners in Southeast Asia grow and achieve measurable business results,”
said Kenneth Bishop, Managing Director, Southeast Asia, Facebook.
People in SEA are actively engaged with the businesses on Facebook that matter to them.
- Nearly 2X as many Thais and 2X as many Singaporeans send Facebook messages to businesses each month (compared to the global average)
- Malaysians send nearly 50% more Facebook messages to businesses each month (compared to the global average)
Facebook recently announced a new milestone with 3 million active advertisers on Facebook, a number that has grown 50% in one year. A large part of that growth is being driven by advertisers in SEA who are moving beyond traditional advertising channels to reach the region’s mobile first consumers.
Source: Globalization for the little guy | McKinsey & Company
Facebook unplugs Thai military propaganda
Retail in the age of social media
E-commerce is becoming easier and faster, making it increasingly popular. Recently, Instagram introduced a shopping feature that allows users to purchase products within the app.
Social media is transforming retail and expanding the e-commerce world. It goes without saying that the presence of social media in any retail store is critical to its marketing and sales reach.(more…)
Subscribe via Email
Asia’s slow rate of vaccination is a thorn in the region’s economic recovery
Southeast Asia has been hit badly. Daily infections for Indonesia, Thailand, Vietnam are at their worst, on a seven-day moving...
TAT expects 850 billion baht ($25.7 bln) in tourism revenue after successful reopening
The Tourism Authority of Thailand (TAT) has set this year’s revenue target at 850 billion baht, 300 billion of which...
Download 1xBet mobile and play all over the world
Placing profitable bets or playing in a casino is now possible comfortably even without being tied to a computer. It...
3 ways Asia can recover from the COVID-19 pandemic faster
Countries in the East Asia and Pacific region will benefit from cooperation in three major areas: vaccine deployment, reviving sectors...
Thailand’s Vaccine Strategy: What went wrong?
Questions are being asked, and not answered, over the decision to rely almost entirely on Siam Bioscience, a local, palace-owned...