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Jakarta Post

RI's digital economy on track to dominate SE Asia

  • Adrian Wail Akhlas

    The Jakarta Post

Jakarta   /   Wed, October 9 2019   /  02:02 am

Indonesia’s digital economy is well on track to dominate Southeast Asia as its market value is projected to triple to US$130 billion by 2025 from $40 billion in 2019, with e-commerce and ride-hailing sectors spearheading the growth.According to the annual “e-Conomy Southeast Asia” study, conducted by American tech giant Google, Singaporean holding company Temasek and management consulting firm Bain & Company, the e-commerce and ride-hailing sectors are firing on all cylinders with the former growing at a compound annual growth rate (CAGR) of 88 percent from 2015 to 2019 with a gross merchandise value (GMV) of $21 billion and the latter grew at a CAGR of 57 percent with a GMV of $6 billion.“The e-commerce and ride-hailing sectors are growing rapidly [in Indonesia] due to large funding and tight competition from local and regional players,” said Google Indonesia managing dire...