Though expectations were high, the growth of Southeast Asia’s digital economy is beating them all. With more than 330 million internet users and double or triple digits growth in several major markets online, the region is confirming the digital boom with the emergence of a first round of local unicorns.
Co-working has emerged as a new and interesting method for independents, startups, entrepreneurs and even certain multinationals to manage their work habits and spaces. Rapidly expanding throughout Southeast Asia, co-working is attracting the appetites of global leaders of this new industry in the region.
Indonesia has the largest population in Southeast Asia, by far, and an e-commerce penetration that is still very low, making it one of the hottest e-commerce markets in the world. Attracting both global and local companies’ interests, Indonesia now has a fast-growing e-commerce scene poised to become a global powerhouse.
As for many other industries, the development of technology is transforming the insurance industry. With sensors incorporated in wearable gadgets, built in cars or installed in houses, individuals’ health and behaviors can be tracked in real-time through a vast array of data that is now integrated into new risk modeling.
One of the most dynamic countries online in Southeast Asia, Malaysia is a very attractive market for e-commerce. A middle-income country with a digital population of more than 20 million people, Malaysia attracts appetites both from local and global companies interested in grabbing a share of its e-commerce market.
The Philippines has a large population and the particularity of an important community of overseas workers. Together they make the Philippines a particularly attractive market for financial technologies – FinTech – companies, be they startups or large companies, engaging to conquer already dynamic markets.
Ride-hailing applications are weighing a fierce battle in Indonesia to conquer its large and promising market. Competing against global and regional giants, the local application Go-Jek has found a way to seduce an important base of users and secure large funding to fuel its diversified growth in hyper-local services.
Indonesia has the largest population in Southeast Asia and one of the fastest growing economies. As financial technologies – FinTech – are becoming some of the hottest business opportunities in Indonesia, many startups and companies engage in the competition to conquer big and promising markets.
Successful luxury companies are not common in Southeast Asia. This female designer from the Philippines nonetheless proves that it is possible to succeed in the luxury industry. Through her creative approach, traditional crafts from the Philippines now gain international recognition in luxury jewelry and accessories.
The spread of the digital disruption to more and more sectors does not spare banking and finance. In Thailand, the emergence of a new generation of financial technology – FinTech – startups spurs the development of a complete ecosystem of supporting structures, from funding and regulation to accelerators and events.