SE Asia’s web economy to soar

SINGAPORE: Southeast Asia’s internet economy could be worth more than US$200bn by 2025, representing a massive sixfold increase from its current value, a new report has

The bold predication was released by Google and investment company Temasek, at a conference in Singapore convened to discuss the future of the e-economy.

Google and Temasek based their findings on proprietary Google data, economic statistics and interviews with regional entrepreneurs, and they focused on six countries in the region – Indonesia, Malaysia, Singapore, Philippines, Thailand and Vietnam.

Beyond the headline finding of US$200bn, which covered everything from online shopping to advertising, the study also revealed that e-commerce in Southeast Asia could be worth US$88bn within a decade after growing at a rate of 32% a year.

Meanwhile, the online travel market is forecast to reach US$90bn, after growing at 15% a year, while online media – such as games and advertising – could grow at 18% a year to US$20bn.