Southeast Asia digital economy slows as consumers curb spending

Published by
The Bangkok Post

Growth in Southeast Asia’s internet economy is slowing after years of expansion, showing that even emerging digital markets aren’t immune to economic headwinds. Online spending in the region will rise about 20% this year to $200 billion, research from Google, Temasek Holdings Pte and Bain & Co showed, slowing from 38% a year earlier. The region’s internet economy is set to reach US$330 billion by 2025, according to the report, down from a previous forecast of $363 billion. This is the first time estimates have been revised downward in the companies’ annual report, which covers Singapore, Indon…

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