Southeast Asia’s internet economy estimated at US$50 billion

15:06 | 14/12/2017 Global Economy

Southeast Asia’s internet economy is estimated to reach US$50 billion in 2017, according to a report released by Temasek of Singapore and Google of the US on December 12.

southeast asias internet economy estimated at us 50 billion
Southeast Asia’s internet economy is estimated to reach 50 billion USD in 2017 - Photo: Reuters

“The e-Conomy SEA Spotlight 2017” report says the regional internet economy is on course to exceed US$200 billion by 2025, or 6 percent of Southeast Asia’s projected GDP by then, compared to 2 percent in 2017 and 1.3 percent in 2015.

All sectors of the region’s internet economy have experienced solid growth in 2017, the report states. Online travel reached US$26.6 billion buoyed by airline and hotel online bookings, online media touched US$6.9 billion and e-commerce and ride hailing growth surpassed 40 percent in the year.

The region’s internet user base continued to grow rapidly in 2017, with monthly active internet users set to reach 330 million by the end of the year.

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