The report forecasts that the gross merchandise value (GMV) of Singapore’s internet economy will be worth US$27 billion by 2025, which is more than double the US$13 billion GMV expected this year. In addition to e-commerce, online travel, ride-hailing, and food delivery services are expected to make up the bulk of that growth trajectory.
SINGAPORE (Oct 3): Singapore’s e-commerce is set to triple in value to US$7 billion ($9.7 billion) in just six years, in parallel with rapid growth across Southeast Asia that will see the total internet economy in the region reach a whopping US$300 billion by 2025.
This is according to the e-Conomy Southeast Asia report 2019, released on Thursday by Google, Temasek, and Bain & Company.
