Southeast Asia’s Digital Economy Slows as Consumers Cut Spending
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.Online spending will rise about 15% this year to $263 billion in the region, research from Google, Temasek Holdings Pte and Bain & Co. showed, slowing from 17% a year earlier and reaching its lowest rate since at least 2017. The local digital economy is also set to record its lowest level of pr...
Read more at bloomberg.com