Yes, we have had a 200 billion digital SOUTH-EAST Asia is on track to hit US$200 billion in gross merchandise value (GMV) from e-commerce, travel, food and transport, and online media sectors in 2022, three years ahead of the forecast in 2016. in the longer term. Sep 26, 2022 (The Expresswire) -- ""Digital Inks Market"" Insights 2022 : According to our (Market Growth Report . Track your investments 24 hours a day, around the clock from around the world. fourths of the bases in the region. Digital technologies offer new avenues for economic growth in Africa by accelerating job creation, supporting access to public services and increasing productivity and innovation. The OECD Going Digital project gives policy makers the new tools they need. levels that are at least as high as they were pre pandemic. So we see those IPO is lessening and those unicorns really pivoting to the April 29, 2022. This report explores how Asia and the Pacific can capitalize on growing opportunities in digital services through structural reforms and international cooperation. really see a different trend curves emerging this year. The latest edition has a special focus on the impacts of the COVID-19 pandemic on digital transformation. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. We do expect some conservancy. Digital Economy and Society Index (DESI) 2022 The Digital Economy and Society Index (DESI) monitors Europe's overall digital performance and tracks the progress of EU countries in their digital competitiveness. FinAccel the parent of Indonesia's buy now pay later platform Kredivo canceled its IPO plans in October due to unfavorable market conditions. A key challenge is how to govern and harness the surge in digital data for the global good. And that signifies that a lot of the adoption that took place during the pandemic is here to stay. View, About The main driver will be the e-commerce sector, which is seen to hit $22 billion by 2025 at a . We've added one hundred million to the Internet in the last three years alone. it's going to take a couple of years for them to reach their pre pandemic levels. Save. While there has been impressive growth in the region, our new e-Conomy SEA 2022 report, developed in collaboration with Temasek . Started in 2007, the Otis College Report on the Creative Economy chronicles the creative economy of Los Angeles and California through five creative industries through eight regions of the state. After a deep contraction in 2020, the. So there were some digital habits that were formed during the pandemic that are strong user base and high digital adoption and they feel confident about And you mentioned the 20 percent year on looking at for 20, 30, so we're describing this as Southeast Asia's The Zambia Inclusive Digital Economy Status Report 2022 assesses the status of the country's digital economy and evaluates key constraints to the adoption and increased usage of. Digital Publishing Market 2022 : Future Developments, Key Vendors, Regional Analysis and Industry Scope by 2029 | 113 Report Pages Published: Sept. 29, 2022 at 8:59 p.m. And this, again, is because of those SINGAPORE South East Asia's top digital economies grew faster than expected in 2022 and are set to reach $200 billion in total value of transactions made this year, according to a new report by Google, Temasek and Bain & Company. SINGAPORE, 1 November 2022 - With Southeast Asia's booming digital economy projected to surpass the US$300 billion mark by 2026, digital payments continue to present tremendous growth opportunities for businesses, according to a new IDC report commissioned by global payments platform 2C2P and global membership association for payments and . A new report claims that the regions digital economy could be worth more than $200 billion this year, outpacing previous projections. But it's just coming sooner rather than later. Defense, China We expect the balance to normalize in 2022 as borders open and services become more accessible and desirable again. The lack of connectivity in remote and rural regions and the low use of digital technologies in connected areas is further . Of course, left to their own devices there is little chance that large tech firms are going to negotiate to improve the lot of the gig workers that populate and benefit their platforms. Global Internet Protocol traffic in 2022 - domestic and international - is expected to exceed all Internet traffic up to 2016. . China is using Buddhist narratives to promote its soft power in Sri Lanka and bolster its image as a harmonious regional power. How drones delivering vaccines are saving lives in India. Singapore, 10 November 2021 - Google, Temasek and Bain & Company released the sixth edition of the e-Conomy Southeast Asia (SEA) Report - Roaring 20's: The SEA Digital Decade, today.Providing a ten-year outlook for the first time, the report highlights that the region is on the path to become a $1 trillion digital economy by 2030. This report introduces updated digital economy estimates and replaces earlier estimates. Data flows are expanding rapidly. So we have certainly seen the last couple of years a bit awash in liquidity BEA includes in its definition of the digital economy three major types of goods and services: economy three years ahead of ahead of Target. The Philippines is right behind with an expected 20% growth in GMV, from $20 billion in 2022 to $35 billion in 2025. like health care as well as software, web three included and a bit less. The digital economy is the economic activity that results from billions of everyday online connections among people, businesses, devices, data and processes. Since holistic and accurate data is a critical factor for any decision-making, the Digital Economy Compass 2020 presents the latest and most relevant data from both third-party sources and our. Google Southeast Asia Vice President Stephanie Davis discusses what gaps and growth opportunities Southeast Asian digital economies are facing amidst . To illustrate the speed of the shift, this threshold has been crossed three years earlier than was anticipated in the inaugural e-Conomy report in 2016 and double the figure of 2019. given the current macro economic situation. Finding the right balance and calibrating between cost optimization and top line growth is something that all companies have to work through," Fock Wai Hoong, Temasek's technology and consumer deputy head, said on CNBC's "Street Signs Asia.". The report did not address the populations of Brunei, Cambodia, Laos and Myanmar, as well as East Timor and Papua New Guinea. The latest news impacting markets, business and finance around the world. September 26, 2022. Power, Crossroads We remain very optimistic. The DESI combines more than 30 indicators and uses a weighting system to rank each country based on its digital performance. The DESI was re-calculated for previous years to reflect the changes in the choice of indicators distributed among 4 dimensions of DESI (new DESI structure), corrections made to the underlying data, and alongside with the recalculation of the EU average (removal of the UK). About the IDE Play Video Join us Tuesdays for the IDE Lunch Seminar See all Events Fall 2022 IDE Lunch Seminar Series September 20 , December 06, 2022 So, yes, there is some good news amidst all of the macro headwinds that are Most all of the digital economy companies have come out and stated that in large part, if not most part due to new user acquisition and those who have Live market coverage co-anchored from Hong Kong and New York. That's compared to a 10% year-on-year increase in 2021 and 11% growth in 2020, at the height of the coronavirus pandemic. breaking funding year in the first half, 13 billion at 13 billion in the private It has been estimated that global Internet traffic in 2022 will exceed all the Internet traffic up to 2016. But again, they've really developed a but what about also some of those core e-commerce and other players in all this Brands must deliver customer experiences that are timely, relevant, and useful experiences that feel satisfying and connected, not only to their customer journey, but connected to their lives. headwinds are here. Thursday, 30 June, 2022 . Bloomberg Daybreak Australia. Now it's three years ahead of Target. Despite the aggressive monetary tightening by the U.S. Federal Reserve, many regional currencies are holding up surprisingly well. The report projects that Southeast Asia's digital economy is on track to be worth $200 billion in 2022. In fact, it's expected to reach $200 billion in gross merchandise value in 2022 1 three years ahead of the milestone mentioned in the e-Conomy SEA 2016 report.. become quite a leading sector in Southeast Asia. The report projects that Southeast Asia's digital economy is on track to be worth $200 billion by 2022. Southeast Asia continues to see growth in the number of internet users with 20 million new users added in 2022, raising the total number of users to 460 million. "The rising rate environment has led to us to conclude that growth-at-all-costs strategy is no longer a viable strategy. This was the 2022 edition of the annual Gulf Information Technology Exhibition (GITEX Global), from the 10th of October 2022 in Dubai. . Electronic Access: Free Download . Southeast Asians continue to take up digital technologies at a breakneck pace, following three years of rapid adoption due to the COVID-19 pandemic, according to a new report. Southeast Asia's digital economy is poised to hit US$200 billion in gross merchandise value (GMV) in 2022 - three years earlier . "As we have opened back up post-pandemic, mobility in retail places has actually surpassed pre-pandemic [levels] in multiple countries. It examines recent trends and global developments in the data-driven digital economy, and reviews existing data governance approaches at the national, regional and multilateral levels. Publications Digital Economy Report Information Economy Report The objective of these country diagnostics is to assess key levers that drive the development of the digital economy, informing the WBG's operational engagements in individual countries. All reports download as pdfs. they do? How do you further unlock value? 2022 Diplomat Media Inc. All Rights Reserved. The world as we know it is continually changing, and one of the fundamental drivers is digital transformation. E-commerce continues to drive the growth in the region despite the resumption of offline shopping as pandemic lockdowns lifted. Why? The report describes a pivotal period of growth in these nations digital economies, noting that of their 460 million internet users, 100 million more than 20 percent came online in the past three years. Another growth driver, digital financial services, which includes payments, remittances, lending, investments and insurance, have seen healthy growth from 2021 to 2022, thanks to offline-to-online behavior shifts post-pandemic, wrote the report. The digital economy is one of Malaysia's key economic pillars, currently contributing 22.6% to the country's gross domestic product (GDP). Asia, Asia The EDPR report combines the quantitative evidence from DESI (Digital Economy and Society Index) with country-specific policy insights, allowing us to keep track of the progress made in terms of digitalisation by each Member State and providing an important feedback loop for policy-making at EU . Southeast Asia's online economy is still on track to reach $1 trillion by 2030 as online shopping becomes the norm, according to the report. this growth? ET The e-Conomy SEA 2022 report, jointly compiled by the tech giant Google, Singapores Temasek, and the venture capital firm Bain & Company, focuses on Southeast Asias six largest and most digitally connected economies: Indonesia, Malaysia, Singapore, Thailand, the Philippines, and Vietnam. Informations sur votre appareil et sur votre connexion Internet, y compris votre adresseIP, Navigation et recherche lors de lutilisation des sites Web et applications Yahoo. ABUJA, November 28, 2019 - Nigeria is . today, following the release of the department's responsible advancement of u.s. competitiveness in digital assets report, u.s. secretary of commerce gina m. raimondo issued the following statement: "the department's framework reflects many months of interagency collaboration, public feedback, and research focused on examining key questions Moreover, as the market approaches a point of saturation, digital economy firms started to focus on qualitative improvements rather than rapid growth. Yes, a trillion dollars is what we're Published every other year, the Report is prepared in close collaboration with external experts and organizations, including e-commerce associations, the ITC, ITU, UNCITRAL, UN regional commissions, UPU, World Information Technology and Services Alliance, WTO and World Bank. SEA's digital economy is on course to achieve 20 percent year-over-year growth despite economic headwinds, said the . Data rates are one of the cheapest in the region at US$1 per 10GB. "Our public insensitivity to safety is too severe, one South Korean man told the Associated Press. The research leverages primary research, Temasek insights, Bain analysis, Google Trends, expert interviews, and industry sources to shed light on the digital economy in Southeast Asia. digital decade. Of the total $7.8 billion raised by the sector last year, $3.5 billion (roughly 44%) went to fintech payment firms, it said. The report provides a fresh and holistic view of this particular kind of international economic flow. 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. To illustrate the speed of change, this threshold was crossed three years earlier than predicted in e-Conomy's inaugural report in 2016, and double the figure of 2019. The report shows Asean's digital economy is on course for $200 billion in GMV in 2022, three years earlier than projected, representing an increase of 20% year on-year. The DESI 2022 reports are based mainly on 2021 data. DESI country profile (EN) . In addition, current macroeconomic conditions such as surging inflation rates have impacted Southeast Asian consumers and the digital economy. Toward a Digital Economy Satellite Account Update A new report with statistics covering the period from 2005 to 2020 was released in May 2022. sticking around. Former NASA CTO on how to think 'mission first' and what's next for a free space economy. Beijing's growing investments in strategic resources in the DRC go hand in hand with increased military assistance intended to secure those assets. Accelerating Digital Transformation for Long Term Growth 09 Aug, 2022, 07.48 PM IST How the metaverse accelerates economic development for emerging economies All reports download as pdfs. "After years of acceleration, digital adoption growth is normalising," said the report released Thursday. That's two questions in one, basically. This site is managed by the Directorate-General for Communications Networks, Content and Technology, Digital Economy and Society Index (DESI) 2022, Follow the European Commission on social media, DESI - Integration of Digital Technology 2022, Review the methodological manual DESI 2022 (.pdf), Digital Economy and Society Index 2022: overall progress but digital skills, SMEs and 5G networks lag behind. Dublin, Oct. 28, 2022 (GLOBE NEWSWIRE) -- The "Global Economy 2022-2023: Recession or Soft Landing?" report has been added to ResearchAndMarkets.com's offering. Southeast Asia in markets like the Philippines and Vietnam included. The report provides a fresh and holistic view of this particular kind of international economic flow. This 2022 global economic outlook research provides a global growth snapshot by identifying growth conditions, policy expectations, and economic risks. SEA digital economy to grow in 2022 despite headwinds: report. Last year, activity finally bounced back, lifting GDP growth in 2021 to 4.7 percent. THE Philippines' digital economy is expected to reach a gross merchandise value (GMV) of $35 billion by 2025, growing at a 20% compound annual growth rate (CAGR) from $20 billion today, according to a report by Google, Temasek, and Bain & Co. namely the fragmentation of the national digital market. "Nonetheless, most investors remain bullish in SEA's medium- to long-term potential," but venture capitalists remain vested in the region with $15 billion dry powder to sustain deals, continued the report. "We note increasing interest in emerging markets, like the Philippines and Vietnam, and in nascent sectors, like SaaS and Web3.". Now, the 2022 e-Conomy report by Temasek, Google and Bain forecasts digital economy GMV to hit US$330 billion by 2025, and US$600 billion to US$1 trillion by 2030 across six markets of . Oct 27, 2022 (Reportmines via Comtex) -- Pre and Post Covid is covered and Report Customization is available. SEA's digital economy could reach $200 billion GMV in 2022: Report However, the next three years may see a slowdown, the report said, projecting growth in the sector to e-commerce to grow. 4G and 3G coverage is 80 per cent and 85 per cent of the population, respectively. With cupboards bursting, rotation back into services is well underway, already roughly 6 percentage points below the peak. The Digital Economy Index measures inflation in what people are buying in the digital world in the US, UK, and Japan. percent year on year in transport. So they took quite a dip during the pandemic, but they are recovering and That is the estimate. Southeast Investments maintained strong momentum in the first half of 2022, but investors are increasingly cautious. For the country reporting, they are available in English and in the country's official language (s). October 27th, 2022, 1:44 AM PDT. New internet user growth slowed down in 2022 at 4% from 2021 to 2022, as compared to a 10% increase the year before. All in all, it concluded, [Southeast Asias] digital economy is grounded on strong social and economic fundamentals, and offline to online trends, which provides much to be optimistic about especially as the region settles into its digital decade.. After years of acceleration, digital adoption growth is normalizing, the report stated. We see another couple of the sectors travel as well as transport ride for a bit. Get this delivered to your inbox, and more info about our products and services. They no longer talk about unicorns, Global economic activity is experiencing a broad-based and sharper-than-expected slowdown, with inflation higher than seen in several decades. to is really going to come from deepening engagement. Get briefed on the story of the week, and developing stories to watch across the Asia-Pacific. due to the low interest rates. The David Rubenstein Show: Peer-to-Peer Conversations" explores successful leadership through the personal and professional choices of the most influential people in business. The European Investment Bank's activities to support Africa's transition to a digital economy. add some more wealth to all this. That said, yes, the macroeconomic We're describing it a bit of a s curve and a long dated s, if you will. Sebastian Strangiois Southeast Asia editor at The Diplomat. SEA's digital economy could reach $200 billion GMV in 2022: Report, Tech sector remains good despite challenging period, says Neuberger Berman's Daniel Flax. The attack raises new concerns about growing political instability in Pakistan. Africa, Caribbean, Pacific countries + OCT Mediterranean . pandemic. But still on the horizon is edgy tech. Publication Date: April 5, 2018. Among these services, insurance recorded the highest, growing 31% year-on-year while lending grew 25% year-on-year. The outcome of this months election is far less certain and predictable" than previous ones. Share Street Signs Asia Southeast Asia's digital economy could reach $200 billion in gross merchandise value in 2022: Report Stephanie Davis, vice president of Google Southeast Asia, and. It had very high adoption and high growth during the pandemic. Seventy seven percent penetration. Asia, Pacific Numerous efforts to rebalance the Chinese economy, including Xi Jinpings, have failed. Los Angeles Region and the State of California. Linda Lacina. The digital economy in Southeast Asia is expected to grow 20% year-on-year in 2022 despite economic headwinds, a report found. Data have become a key strategic asset for the creation of both private . They're softening this year, softening a Diagnostics Tool V1.0. TV Shows.