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Reading: Southeast Asia’s Digital Economy Set to Hit $263B Milestone in 2024
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Southeast Asia’s Digital Economy Set to Hit $263B Milestone in 2024

Nicole Kristine Jovero
Last updated: November 11, 2024 12:53 am
Nicole Kristine Jovero
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Contents
Numbers Tell the StoryE-commerce EvolutionAI Powers Future Growth
  • Southeast Asia’s digital economy surges toward $263B milestone
  • Video commerce revolutionizes regional e-commerce landscape
  • AI investments cement region’s position in global tech development

Numbers Tell the Story

Google, Temasek, and Bain & Company’s latest e-Conomy SEA report forecasts 15% growth in Southeast Asia’s digital economy, reaching $263 billion GMV next year.

Revenue projections show impressive 14% growth to $89 billion, highlighting the region’s robust digital transformation.

E-commerce Evolution

The sector leads growth targets at $159 billion GMV for 2024, powered by video commerce adoption jumping from 5% to 20% of total e-commerce GMV since 2022.

Existing customers now drive 70% of market expansion, marking a significant shift in growth dynamics.

AI Powers Future Growth

Southeast Asia emerges strong in global AI development, attracting $30 billion in infrastructure investments during early 2024.

Singapore maintains its tech hub status, projecting $29 billion GMV for 2024, supported by substantial AI-ready data center investments reaching $9 billion.

TAGGED:div5

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