Region’s internet economy on track to hit $1t as e-commerce, logistics boom. Southeast Asia is embracing its “digital decade” with the region’s internet economy expected to soar on the back of a fast-growing base of digital consumers and merchants.
James Tan, a Singaporean businessman with more than 10 years’ experience in the digital economy, said Southeast Asian countries are at different levels of development in their digital industries.
“In the Philippines, for example, online shopping is no rare thing. But people can do a lot more things on the internet in some other places such as Indonesia’s Jakarta. Digitization of small and medium enterprises in Jakarta has made progress over the recent years,” said Tan, the managing partner and founder of Quest Ventures, a venture capital firm focusing on the digital economy industry across Asia.