Southeast Asia’s internet economy will hit $105 billion this year, as the coronavirus crisis prompted stuck-at-home consumers to go online to shop, get food delivered at home and for entertainment purposes, an industry report said on Tuesday.
The report, which covers Indonesia, Malaysia, Vietnam, Singapore and the Philippines, said the region added 40 million new internet users this year, taking the total to 400 million. That implies 70% of the region’s population is now online, the report added.
“The coronavirus has brought about a permanent and massive digital adoption spurt,” stated the report by Google, Singapore state investor Temasek Holdings and business consultants Bain & Co.
Southeast Asia’s internet economy expanded 5% from 2019.