e-ConomySEA 2024 report: Malaysia’s digital economy to hit US$31 bil in 2024

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e-ConomySEA 2024 report: Malaysia’s digital economy to hit US$31 bil in 2024 - Digital News Asia

Quick Summary:

Online travel led sector growth with a 19% increase, reaching US$8B GMV

E-commerce, M’sia’s top digital contributor grew 17% to US$16B GMV in 2024 Malaysia's digital economy is set to reach US$31 billion (RM138.48 billion) in Gross Merchandise Value (GMV) in 2024, marking a 16% increase from 2023, according to the latest e-Conomy SEA 2024 report by Google, Temasek, and Bain & Company.

Online media in Malaysia has shown consistent growth with its GMV expected to grow 10% from $3 billion in 2023 to $4 billion in 2024, driven by the increasing popularity of digital content, games and streaming services.