FILE PHOTO: Gojek the driver’s helmets are seen during the ” Go-to-Food festival in Jakarta, Indonesia, 27 October, 2018. (REUTERS photo/Beawiharta/File Photo
SINGAPORE (Reuters) – Southeast Asia’s internet economy was forecast to grow 39% this year to as much as $100 billion, as millions of people in the area and went online for the first time, and the ride-share companies are growing in popularity, an industry report showed on Thursday.
The annual reports of Google’s, Singapore’s state investor, Temasek Holdings, and the global business consultants Bain & Company, also raised its forecast for growth in the region through the year 2025, up to $300 billion, up from $240 billion in it earlier.
The region’s online industry, and has more than tripled in the past four years, as younger users are on their phones, in order to do what is in the bank, and the playing of games, and the purchase of airline tickets.
“This growth has exceeded all expectations,” the 64-page report, which was first produced in 2016, he said. “Internet access is now affordable for large segments of the population, and the confidence and trust of the consumer, the services have significantly improved.”
More than $37 billion has been invested in the South-east Asian-based on its recent four-year period, with the majority going into e-Commerce companies such as Zilingo and the ride of Unicorns, such a Grab, and Gojek, the report found.
Ride is coming alone was worth $13 billion for a four-fold increase in value since it’s 2015, and is expected to reach $40 billion by the year 2025, when the food supply is worth the transport.
South-east Asia, the average growth rate of 5% per year since the 2014 sets, it is far from the global average, making it a very attractive investment destination for China’s economy is hobbled by the Sino-u.s. trade war.
There are 360 million Internet users in the countries that are in the report – Indonesia, Malaysia, the philippines, Singapore, south africa, and the Philippines, up from 260 million euros four years earlier.
Reporting Aradhana Aravindan; Writing by Joe Brock; Editing by Jane Wardell