Southeast Asia's digital economies are set to reach $218 billion in transaction value in 2023, jumping 11% year-on-year despite global macroeconomic headwinds.
Despite global macroeconomic headwinds, Southeast Asia's digital economies are projected to hit $218 billion in transaction value in 2023, up 11% from a year ago.
"Southeast Asia has weathered global macroeconomic headwinds with more resilience, compared to other regions around the world ... Consumer confidence is starting to rebound in second half 2023 after falling to lower levels in first half 2023," said the report titled e-Conomy SEA 2023. This is because firms are shifting focus from "growth at all costs" to profitability, in a bid to build "healthy" businesses.
"Companies and entrepreneurs now realize that the best way to grow is not grow at all costs, and stretch this early stage mentality across a scale, but quite frankly, to transition as quickly as possible through early stage, growth stage and towards more financial sustainability," Fock told CNBC's JP Ong.
Despite investors being pickier, "dry powder" increased to $15.7 billion at the end of 2022, up from $12.4 billion in 2021. The report noted the term refers to "the amount of capital that has been committed minus the amount that has been called for investment."
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