06/10/2023 (Kuala Lumpur, Malaysia) - The digital economy of Southeast Asia continues to display significant growth and resilience, with projections indicating that revenue will surpass the $100 billion mark in 2023. The economic landscape in this sector is witnessing a revenue expansion that is outpacing gross merchandise value (GMV), expected to hit $218 billion this year. Notably, the region's revenue growth is currently 1.7 times faster than its GMV.
Within the region, Thailand is poised to become the second-largest digital economy, with expectations to reach a GMV between $100 and $165 billion by 2030, heavily propelled by the e-commerce sector's upward trend. In comparison, Indonesia leads the region, with predictions suggesting its digital economy could attain a GMV range of $210 to $360 billion by 2030, jumping significantly from $109 billion in 2025 and $82 billion in 2023.
A critical factor in this economic swell has been the digital financial services domain, especially the contributions from digital lending and payments systems. Despite a noticeable contraction in private funding, the digital sector continues to lure capital investments, with companies looking to showcase profitability and appealing exit strategies to magnetize investors.
The e-Conomy SEA 2023 report highlights the robustness and adaptability of Southeast Asia's digital economy, with an eight-fold revenue increment in the last eight years alone. Online commerce, travel, transport, food delivery, and media sectors have particularly evidenced profitable growth curves.
Nevertheless, the progress experienced within urban areas is shadowed by the risk of an enlarging digital economic divide in rural and less developed regions. To combat this, there is a clarion call for enhancing digital inclusion through education initiatives, accessible products, and heightened financial literacy.
Investors, corporations, governments, and non-governmental organizations are urged to undertake collaborative roles in fostering conditions that allow broader participation in the digital economy. This concerted effort is vital to ensure equitable and sustainable growth opportunities across Southeast Asia's diverse and dynamic landscapes.