Southeast Asia's Internet Economy Slows Down as E-commerce Spending Estimates Cut

📆 11/1/2023 9:28 AM
📰 YahooFinanceCA

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Southeast Asia,Internet Economy,E-Commerce

Southeast Asia's internet economy is expected to experience its slowest growth on record this year, with a 13% decrease in e-commerce spending estimates. Total online spending will rise by 11% to $218 billion, marking the lowest rate since 2017. The region's largest category, e-commerce, is projected to reach $186 billion in 2025, down from the previous estimate of $211 billion. The slowdown is attributed to consumers curbing spending due to inflation and interest rates, as well as increasing competition from global and regional players.

-- Southeast Asia’s internet economy will log its slowest growth on record this year, a group of researchers said, as they slashed near-term e-commerce spending estimates for the region by 13%.Sony’s Bungie Game Unit Cut 8% of Staff After ‘Destiny’ Play Wilted

The region’s entire internet economy is now on track to reach $295 billion by 2025, according to the report, down from a previous forecast of $330 billion. This is the second time estimates have been revised downward in the companies’ annual study, which covers Singapore, Indonesia, Malaysia, Thailand, Vietnam and the Philippines.

Investors in the region, many of whom started funds in the middle of the last decade, are facing mounting pressure to deliver returns in a challenging market for public listings. Funds in Southeast Asia started in the past five to seven years have paid out a median 4% of invested capital back to investors, compared with about 50% for China and 40% for the US, according to the study.

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