Having successfully diversified its economy, Singapore has become a regional and global hub for technology and startups. It is now home to one of the most developed startup eco-system in Asia, with an ever-growing number of companies using the country as a base to manage their operations in the region and beyond.
The most populous country in Southeast Asia by far, Indonesia is still in an early stage of development when it comes to internet, mobile and digital technologies. It is therefore one of the most sought-after market globally for e-commerce, with large local players and global heavyweights fighting for this enormous growing market.
With a dynamic economy and a large population proficient with digital technologies, the Philippines is a fast-growing market for e-commerce in Southeast Asia. Several websites and digital applications are already fighting for market share, with global, regional and national players trying to come up to the leader.
The second largest economy of Southeast Asia with one of the most engaged population online, Thailand is already a well-developed market for e-commerce. Many brick-and-mortar brands and pure e-commerce players are competing for market share, with regional and national players fighting for digital consumers.
With well-developed infrastructures and a high income, digitally-savvy population, Singapore is a very mature market for e-commerce. Several global and regional websites are fighting tooth and nail for market share, with some local players using their weight in Singapore as a foothold to expand abroad.
With its dynamic economy and developed infrastructures for digital technologies, Malaysia is a very attractive market for e-commerce in Southeast Asia. Several websites and digital applications are already present in the Malaysian e-commerce landscape, with some global, regional and national players grabbing their shares.
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.