Google: Indonesia's Digital Economy Growth Strengthens in 2024

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Adi Ahdiat 13/11/2024 13:50 WIB

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According to research by Google, Temasek, and Bain & Company, Indonesia's digital economy grew stronger in 2024 than in the previous year.

Projected Gross Merchandise Value of Indonesia's Digital Economy (2022-2024)*

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Projected Gross Merchandise Value of Indonesia's Digital Economy (2022-2024)*

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Indonesia's digital economy grew stronger in 2024 compared to the previous year.

This is evident from the *e-Conomy SEA 2024* research report released by Google, Temasek, and Bain & Company.

Google, Temasek, and Bain & Company measured the value of the digital economy in Southeast Asian countries based on gross merchandise value (GMV), which is the value of goods/services sold within a specific period.

The calculation includes the GMV from several key digital economy sectors, namely e-commerce, online food delivery, online transportation, online travel/tourism, and online advertising/entertainment media.

In 2023, the total GMV of Indonesia's digital economy is estimated to have reached US$80 billion, a 6% year-on-year (YoY) growth.

Then, in 2024, the growth rate is projected to strengthen to 13% (YoY), with the total GMV reaching US$90 billion.

Google, Temasek, and Bain & Company also view Indonesia's digital economy as continuing to grow, along with the expansion of companies into smaller cities.

"A number of large technology companies in Indonesia are starting to open offices in smaller cities to reduce operational costs and increase profitability. This strategic step not only utilizes new talent sources outside Jakarta but also stimulates economic growth and development in the regions," they stated in their report.

"The relocation of the capital city to Nusantara is also expected to support growth outside Java in the future," they continued.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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