Source: Cottonbro (Pexels)
What’s the ‘hottest’ investment country in Southeast Asia?
Its digital economy is expected to grow by 22% to $18b in 2022.
Singapore is considered to be the “hottest” investment country in Southeast Asia as its digital economy is expected to grow 22% to $18b in 2022, The e-Conomy SEA report found.
The report, conducted by Google, Temasek, and Bain & Company, also forecast that the digital economy of Singapore could be valued at approximately $30b in 2025.
“As an advanced country, Singapore is well-placed to play a leading role in the growth of Southeast Asia’s digital economy and ESG adoption for investors, consumers, businesses and governments,” Stephanie Davis, Vice President, Google Southeast Asia, said.
“Sustainability is the responsibility of all stakeholders and we want to continue forging the right partnerships and introduce meaningful initiatives that contribute to Singapore’s sustainable and inclusive digital future.”
Read more: E-Commerce GMV growth in Southeast Asia slows but remains ‘healthy’
The growth in gross merchandise value in the market will largely be driven by e-commerce, which is expected to hit $11b in 2025. This is a $9b recovery in online travel as well as high digital adoption in e-commerce (97%), and food delivery (92%).
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