Southeast Asia's Internet economy was forecast to grow 39% this year to $10...
FILE PHOTO: Gojek driver helmets are seen during Go-Food festival in Jakarta, Indonesia, October 27, 2018. REUTERS/Beawiharta/File Photo
The annual report by Google, Singapore’s state investor Temasek Holdings and global business consultants Bain & Company also lifted its forecast for the region’s growth through 2025 to $300 billion, from $240 billion previously. “This pace of growth has exceeded all expectations,” the 64-page report, which was first produced in 2016, said. “Internet access is now affordable for large segments of the population and consumer trust in digital services has improved significantly.”
Ride-hailing alone was worth $13 billion, quadrupling in value since 2015, and expected to reach $40 billion by 2025 when food delivery will be worth as much as transport.
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