Google forecasts Indonesia to become Southeast Asia’s largest digital economy
The latest report by Google, Temasek, and Bain & Company, projects that Indonesia's digital economy will reach a Gross Merchandise Value (GMV) of 90 billion USD in 2024, an annual increase of 13% and the largest figure in Southeast Asia.
Jakarta (VNA) – The latest report by Google, Temasek, and Bain & Company, projects that Indonesia's digital economy will reach a Gross Merchandise Value (GMV) of 90 billion USD in 2024, an annual increase of 13% and the largest figure in Southeast Asia.
Indonesian weekly magazine Tempo cited the e-Conomy SEA 2024 report, which shows that the e-commerce sector is a major driver of this growth, with an estimated 11% increase in GMV to hit 65 billion USD this year. Innovations by leading e-commerce platforms have significantly enhanced user experience, contributing to this surge.
Indonesia also stands out as the second-fastest-growing market for creator video uploads, with a Compound Annual Growth Rate (CAGR) of 16% between 2022 and 2024.
Veronica Utami, Country Director of Google Indonesia, mentioned the growing video commerce and the creator economy. “The rapidly growing video creator community in Indonesia underscores the significant potential of this sector,” she said in a November 13 written statement as quoted by Tempo.
She explained that artificial intelligence (AI) is emerging as a key driver of Indonesia's digital transformation. To support AI services and data growth, data center capacity in Indonesia is set to increase by 268%, reaching 202 MW.
Other digital sectors are also experiencing positive growth. Online travel is projected to grow by 24% to 9 billion USD in GMV, fueled by a 400% increase in international travel since 2020. Digital financial services are expected to reach a Gross Transaction Value (GTV) of 404 billion USD, with a 19% growth rate. Digital lending is projected to reach 9 billion USD in GMV, while food delivery and onlᩚᩚᩚᩚᩚᩚᩚᩚᩚ𒀱ᩚᩚᩚine media are estimated to reach 6 billion USD and 8 billion USD, respectively./.
The government of new Indonesian President Prabowo Subianto has emphasised that micro, small and medium-sized enterprises (MSMEs) will become one of the pillars of the national economy.
Indonesian President Prabowo Subianto has urged US business leaders to prioritise environmental, social, and governance (ESG) principles when investing in his country.
Indonesia and Japan on November 12 agreed to start implementing the Mutual Recognition Arrangement (MRA) for the implementation of bilateral carbon trading cooperation between the two countries.
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The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
Member states also reviewed progress on six priority areas for 2025, including the development of an underground cable framework, the follow-up agreement to the ASEAN Petroleum Security Agreement (APSA), the launch of the ASEAN Energy Efficiency Database, and the rollout of an investment platform for sustainable building initiatives.
In March, Thai Prime Minister Paetongtarn Shinawatra met with Formula 1 chief Stefano Domenicali and said Thailand would commission a feasibility study into hosting a Grand Prix on a Bangkok street circuit from 2028.
The proposed giant sea wall aligns with bilateral cooperation and has been designated a national priority, considering that several regions in Indonesia are experiencing land subsidence of 10–15 centimetres per year.
International flights were cancelled including Jetstar and Virgin Australia flights to cities across Australia, and flights of Air India, Air New Zealand, Singapore's TigerAir and China's Juneyao Airlines.
The partnership aims to strengthen collaboration in the exploration and exploitation of mineral resources, including gold, copper, and manganese, as well as in the development of steel, aluminum, and renewable energy industries.
The Thai cabinet has approved a seven-year EV bus leasing scheme proposed by the Bangkok Mass Transit Authority (BMTA) for the capital, with an estimated cost of 15.35 billion THB (over 470 million USD).
Aircraft are prohibited from flying below 6,000 metres in the vicinity of the volcano, and should also remain alert to the presence of volcanic ash, which can disrupt flights.
Laos declared the transfer of the press management functions of five key media agencies and associated personnel to the Propaganda and Training Board of the Lao People's Revolutionary Party Central Committee.
Univers said in a statement that the new centre will serve as a hub for innovation, bringing together digital intelligence and climate ambition to accelerate Sarawak's transition toward a low-carbon, tech-enabled economy.
The target is to be completely free from plastic waste within two years. This can only be achieved if all parties implement the initiative with strong discipline.
Indonesia is taking new steps to improve protections for fishery workers, amid concerns over low wages, harsh working conditions, and limited access to social welfare.
The 2025 ASEAN- the Republic of Korea (RoK) Connectivity Forum that opened in Jakarta on June 17 reaffirmed a shared commitment to shaping a connected, resilient future by advancing the ASEAN Connectivity Strategic Plan.
The desk will serve as a service centre providing market intelligence, business licensing guidance, facilitating business cooperation, identifying potential investment projects, and harmonising regulatory policies between the two parties.
Malaysian Prime Minister Anwar Ibrahim noted that the Asia-Pacific region accounted for half of global energy consumption and 60% of greenhouse gas emissions in 2024. Despite this, regional countries, including eight of ten ASEAN member states, remain committed to climate goals, including net-zero emissions and tripling global renewable capacity by 2030.
