SINGAPORE — South East Asia's top digital economies grew faster than expected in 2022 and is set to reach $200 billion in total value of transactions made this year, according to a new report by Google, Temasek and Bain & Company.
An earlier report in 2016 estimated the internet economy in the region's six major countries will close in on $200 billion in GMV by 2025.
The six major economies covered in the report are: Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam.
"After years of acceleration, digital adoption growth is normalising," said the report released Thursday.
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.