Singapore’s Online Boom: A One‑Trillion‑Dollar Dream
Hey folks, buckle up! According to a fresh report by Google, Temasek, and Bain & Co., the internet scene in Southeast Asia is on a rocket‑ship trajectory, aiming for a jaw‑dropping US$1 trillion (S$1.35 trillion) by 2030.
New‑User Frenzy
- The region is now home to 440 million internet users – a 60 million jump since the pandemic hit.
- Why? Young crowds, smartphone craze, urban sprawl, and a climbing middle class are fueling this surge.
Shoppers, Deliveries, & What Actually Happens
With the world glued to screens, online shopping and food delivery have become the double‑header that’s ruling the digital space.
- 2021’s GMV (Gross Merchandise Volume): US$174 billion
- Projected 2025 GMV: US$360 billion
- 2030 Goal: US$1 trillion
Country‑by‑Country Breakdown
- Indonesia leads the pack, contributing 40 % of the region’s GMV.
- Philippines exploded with a 93 % jump, turning into a US$17 billion digital economy.
- Overall, sales volume is expected to almost double by year’s end and reach US$234 billion by 2025.
What the Experts Are Saying
Florian Hoppe from Bain said the spike in GMV – up 49 % year‑on‑year – is a testament to the “seismic consumer and ecosystem shifts” that COVID‑19 accelerated. The net result? A massive digital adoption spurt that sticks around.
