Southeast Asia Digital Economy to Reach $363 Billion by 2025

E-commerce drives growth, Google, Temasek, Bain say in report
Region’s online spending could balloon to $1 trillion by 2030

WATCH: “We continue to see users come online at a blistering pace,” Google’s Stephanie Davis tells Bloomberg.Source: Bloomberg

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By Yoolim Lee

November 10, 2021 at 2:45 AM UTC

Updated on

November 10, 2021 at 8:51 AM UTC

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Southeast Asia’s booming internet economy is set to double to $363 billion by 2025, eclipsing the previous forecast of $300 billion, research from Google, Temasek Holdings Pte and Bain & Co. shows.

E-commerce, travel, media, transport and food are driving the region’s digital growth, with online spending rising 49% in 2021 to $174 billion, the companies said in their latest annual report. The region added 60 million new digital consumers since the start of the pandemic, led by Thailand and the Philippines.