Southeast Asia’s digital economy slows as consumers cut spending

Quick Summary:

Southeast Asia’s internet economy will log its slowest growth on record this year, a group of researchers said, underscoring weakness in consumer demand and a push to show profits instead of revenue gains.

Global giants like Amazon.com Inc and Alibaba Group Holding Ltd as well as regional players Grab Holdings Ltd, Sea Ltd and GoTo Group are vying for a bigger share of markets from online retailing to food delivery and ride hailing.

The CEOs of Apple Inc, Microsoft Corp and Nvidia Corp are among the industry chieftains who’ve swung through the region in past months, committing billions of dollars in investment and holding forth with heads of state from Indonesia to Malaysia.

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Article Details

Category: EconomyBusiness

Markets: ThailandChinaIndonesiaJapanMalaysiaSingaporeVietnam

Topics: Southeast Tech Companies Year Region Report Billion Economy Spending Showed Digital

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-05 @ 11:23:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 506 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bangkok Post

News ID: 23422414

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Main Topics: EconomyBusiness

Official Website: bangkokpost.com

Update Frequency: 18 posts per day

Year Established: 1946

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News Last Updated: 4 hours ago

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Publisher ID: #66

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