Indonesia's digital economy to hit 40 billion USD by year-end

Managing Director of Google Indonesia Randy Jusuf (L) at the Google Indonesia Office in Jakarta (Photo: Antara)

 Indonesia’s digital economy is forecast to reach 40 billion USD by the end of the year, according to the e-Conomy Southeast Asia (SEA) 2019 report compiled by Google, Temasek and Bain & Company.

Speaking at a press conference in Jakarta on October 7, Managing Director of Google Indonesia Randy Jusuf said that Indonesia’s internet economy is predicted to reach 40 billion USD this year and to move up further to over 133 billion USD in 2025.

The newest research reports Indonesia’s growth rate at 49 percent, the highest in Southeast Asia, he added.

The country’s digital economic growth covers e-commerce, online media, online transportation, tours and travel, and digital financial services, according to the report.

During the four-year period, the report forecast that Indonesia’s e-commerce will climb 12-fold with the growth of online transportation to jump six-fold. The financing business in Indonesia also has the potential to exceed the 2018 record.

Jakarta and its surrounding areas, including Bogor, Depok, Tangerang and Bekasi, will remain the key drivers of growth in Indonesia./. 

VNA