World

Indonesia's digital economy likely to reach 360 billion USD by 2030

Indonesia's digital economy will maintain its upward trajectory until 2030, with a projected value ranging from 220-360 billion USD, according to recent studies.
Indonesia's digital economy likely to reach 360 billion USD by 2030 ảnh 1Illustrative photo (Photo: thoibaotaichinh.vn)

Jakarta (VNA) – Indonesia's digital economy willmaintain its upward trajectory until 2030, with a projected value ranging from220-360 billion USD, according to recent studies.

The e-Conomy SEA research study by Google, Temasek, and Bain& Company, the digital economy of Indonesia reached 77 billion USDin 2022, 22% higher than that of 2021. The figure is anticipated to continuerising, reaching 130 billion USD in 2025 and potentially ranging from 220billion USD to 360 billion USD by 2030.

Director of the Digital Economy Centre of Economic and Law Studies(Celios) Nailul Huda said that Indonesia's digital economy has demonstratedrobust growth since 2019, even in the face of financial challenges resultingfrom reduced venture capital investments in tech startups during 2021 and 2022.

He said after the period commonly dubbed as the "techwinter", Google revised its projection for Indonesia's digital economy in2025 from 146 billion USD to 130 billion USD.

Speaking at the BNI Investor Daily Summit (IDS) 2023 on October24, Naiul said that Indonesia's digital economy over the last five years,especially from 2019 to 2021, saw significant growth. However, its growth washindered by the stagnation in investments by investors during the 2021-2022period.

Corina Leyla Karnalies, Digital & Integrated Transaction BankingDirector at BNI, said that during the COVID-19 pandemic, there was a massiveshift towards digitalisation in Indonesia. When social restrictions wereimposed during the pandemic, physical bank branches had to close, compellingbanks to digitalise their services.

George Hendrata, CEO of Tiket.com, expressed optimism about thepotential for greater growth in Indonesia's digital economy which isapproximately 40% of the digital economies of Southeast Asian countries with atotal value of around 194 billion-200 billion USD in 2022.

Indonesia has also survived the challenging times of COVID-19.Currently, its tourism industry, including online travel, is beginning torecover, Hendrata said.

He added that Indonesia's online travel market has grown byapproximately 2-3 times the growth of the gross domestic product (GDP). Whilethe national economic growth rate of about 5%, the total online travel markethas seen growth ranging from 10-15%.

Despite this growth, online travel penetration in Indonesia isstill at around 45%, much lower than in advanced countries like China (60%),the US, or the EU (80%)./.

VNA
#VietnamPlus #Vietnam News Agency #Indonesia #digital economy #growth #Southeast Asia #COVID-19 Indonesia
Follow VietnamPlus

Related News

Indonesia announces plan to spur property market

Indonesia announces plan to spur property market

The Indonesian government has announced a plan to boost the property market by covering the value-added tax (VAT) and the 4 million IDR (252 USD) administration fee for low-income home buyers.

See more

A Facebook post on the official page of Pasaxon newspaper. (Photo: VNA)

Lao media spotlights late NA President’s deep bond with Vietnam

The article stressed that, regardless of the position he held, Xaysomphone Phomvihane devoted to building a prosperous country and a united society. He maintained a particularly deep concern and sincere affection for the special Laos-Vietnam relationship.

Illustrative photo (Photo: ifbaworld.com)

Indonesia ranks fourth in ASEAN in F&B exports

Speaking at the Indonesia Food and Beverage Trade Promotion Forum in Jakarta on August 11, Esti said the country's F&B exports still had significant room for growth as the Ministry of Trade encourages local businesses to expand into international markets through Indonesia's global trade network.

Indonesia plans separate visa for foreign content creators

Indonesia plans separate visa for foreign content creators

Happy Reza Dipayuda, head of the Visa Services Sub-directorate at the Directorate General of Immigration under the Ministry of Immigration and Corrections, said the proposed C5A visa would be designed for foreigners travelling to Indonesia to produce digital content, including promotional activities and collaborations with businesses and brands.

The coffin of Xaysomphone Phomvihane, Politburo member of the Lao People's Revolutionary Party Central Committee and President of the National Assembly of Laos, is carried to the venue for the memorial service. (Photo: VNA)

Laos holds State funeral for National Assembly President

Xaysomphone Phomvihane was a capable revolutionary intellectual with broad knowledge and a strategic vision. Throughout his career, he remained committed to the Party's ideals and objectives, and demonstrated responsibility, flexibility and discipline in carrying out his assigned tasks.

A petrol station in Singapore (Photo: Xinhua/VNA)

Singapore raises 2026 GDP growth forecast

Official data released by MTI show that the country’s GDP grew 5.9% year-on-year in the second quarter, easing from 6.3% in the first quarter. On a quarter-on-quarter seasonally adjusted basis, the economy expanded by 1.4%, extending the 1.2% growth in the first quarter.

Canadian Foreign Minister Anita Anand (fourth from left) and ASEAN ambassadors at the ceremony. (Photo: VNA)

ASEAN, Canada deepen strategic partnership, with Vietnam as key bridge

As ASEAN and Canada look toward the 50th anniversary of diplomatic ties next year, they see a chance to turn Strat.gic Partnership commitments into concrete action. In that process, increasingly substantive Vietnam-Canada ties could become a vital link, driving stronger connectivity between Canada and Southeast Asia.

Delegates cut the ribbon to open the exhibition (Photo: VNA)

ASEAN, Japan advance cooperation through future-oriented initiatives

Over the 45 years since its establishment, the ASEAN - Japan Centre (AJC) has served as a bridge connecting ASEAN and Japan. Through its work in promoting trade, investment, tourism, and people-to-people exchanges, the centre has helped strengthen economic linkages while fostering deeper mutual understanding between people from ASEAN member states and Japan.

Suvarnabhumi Airport in Thailand's Bangkok. (Illustrative photo: VNA)

Thailand accelerates aviation infrastructure modernisation

Thailand is accelerating infrastructure modernisation and the application of digital technologies in air traffic management to improve safety, reduce flight delays, save fuel and advance its goal of becoming a world-class aviation hub.

Customers make payments at a restaurant in Kuala Lumpur, Malaysia. (Illustrative photo: VNA)

Malaysia targets top 10 in Global Peace Index

Over the last 13 years, the Malaysian government has invested 723 million MYR (over 180 million USD) in the security of the Eastern Sabah Security Zone (ESSZONE. As a result, the country now has much better control over security and has ensured safe passage in its territorial waters.

Politburo member and President of the National Assembly of Laos Xaysomphone Phomvihane passes away at 11:18 on August 8. (Photo: VNA)

Special communiqué on passing of Lao National Assembly President

To honour Comrade Xaysomphone Phomvihane’s contributions and express deepest condolences over his passing, the LPRP Central Committee, the National Assembly, the Government and the Lao Front for National Development have decided to declare a five-day national mourning period from August 9 to 13 at the National Convention Centre.