The Covid-19 pandemic has accelerated trends that favour the widespread adoption of e-commerce, such as increased preference for online channels and greater internet penetration. The pandemic is boosting India’s e-commerce market, which was growing at an average rate of 28% in the past decade, to hit USD100 million by 2022.
The Covid lockdown in the Gulf has boosted digital banking activities in the region, where the Fintech market is expected to reach USD 2.5 billion by 2022.
Indonesia has the largest Internet economy in Southeast Asia. However, over 70% of the country’s adults are underbanked and could benefit from more access to digital financial services.
Vietnam achieved over USD15 billion of Foreign Direct Investment (FDI) in the first 6 months of 2020.
Vietnam is one of today’s most sought-after destinations for companies looking to move production to Southeast Asia. The country achieved this by integrating into the global economy and by liberalizing its domestic business and investment policies.
Growing at an annual rate of 20% to 30%, Vietnam’s automotive sector is the fourth largest contributor to the country’s GDP.
An estimated 50 million internet users in Vietnam spent roughly USD6 billion on online purchases in 2018.
The war on plastic has seen the launch of a new online service that will deliver products ranging from soft drinks to washing powder and shampoo in refillable containers, such as durable metal, glass or plastic containers that can be returned and reused.
Travel bans created a 33% decline in demand for oil, while the ill-timed price war between Saudi Arabia and Russia led to excess supply of discounted oil. With the world’s oil storage capacity almost full, oil prices are at its lowest point since the 1990s.
With working from home (WFH) becoming the new normal in this Covid-19 world, the Southeast Asia market is seeing an increase in the demand for products that enhance productivity and efficiency.