Southeast Asia’s economy has rapidly expanded over recent years — and there’s no sign of slowing down. In fact, the GDP growth of Southeast Asia is projected to outpace that of developed economies in the coming years.
In particular, it’s the online sphere that’s driving much of this change. Millions across the region are joining the digital economy as creators, entrepreneurs and consumers. This surge in internet users isn’t just driving economic growth, but transforming the way people live, work and interact.
Profitability on the rise
This year’s e-Conomy SEA 2024 report by Google, Temasek and Bain & Company shows that in 2024, the region’s digital economy — measured in gross merchandise value (GMV) — is projected to grow 15% from last year, reaching U.S. $263 billion. Revenues (excluding digital financial services) have grown 14% and are projected to reach U.S. $89 billion in 2024. And for the first time, the report examines the health of the digital economy through the lens of profitability. Over the past two years, profitability has soared 2.5 times to U.S. $11 billion.