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While the digital economy of the Southeast Asian region was already developing at a very fast rate prior to the arrival of the COVID-19 crisis, it was this crisis that would act as a catalyst for even more rapid development of the region’s digital economy.
Qatar-based global communications company Ooredoo QPSC and Hong Kong-based multinational conglomerate CK Hutchison Holdings Limited signed an agreement to merge their Indonesian businesses: Indosat Ooredoo (which is publicly listed on the Indonesia Stock Exchange or IDX under ticker code ISAT) and Hutchison 3 Indonesia (known for its brand Tri); a deal that is valued at USD $6 billion.
Indonesia rupanya tidak mau ketinggalan mengembangkan potensi ekonomi digitalnya. Awal Maret lalu, pemerintah Indonesia pun meresmikan ‘Silicon Valley ala Indonesia’ yang disebut Nongsa D-Town. Kawasan seluas 5,000 m2 ini berlokasi di Pulau Batam, yang secara geografis sangat dekat dengan Singapura.
Over the past couple of weeks the topic of digital bank has had quite some attention in Indonesian media, especially those media that focus on the economy and business.
Bank digital sebentar lagi bukan hanya mimpi bagi Indonesia. Kepala Eksekutif Pengawasan Perbankan Otoritas Jasa Keuangan (OJK) Heru Kristiyana mengkonfirmasi bahwa badan pengawas kegiatan sector jasa keuangan tersebut sedang menggodok aturan pendirian bank digital.
The Internet has been one of the most revolutionary technologies in human history. It has made the world a much smaller place by revolutionizing communications. Internet has opened the doors to an enormous amount of information and data that are readily available by only a click or two (thereby completely changing the way people access and consume information).
On Friday (7/02) Indonesia Investments released the January 2020 edition of its monthly report. In this first edition of 2020 we zoom in on the digital economy of Indonesia.
Based on the latest survey of the Association of Internet Service Providers in Indonesia (APJII), the number of Internet users in Indonesia reached 171.17 million individuals at the start of 2019, or approximately 64.8 percent of the total Indonesian population. The survey, which involved ‘probability sampling’ and ‘multistage random sampling’, has an error margin of 1.28 percent.
Going digital through mobile devices is a big game in Indonesia, especially in the e-commerce industry. Among the developing countries, Indonesia is a growing digital market with a +100 million internet population and an average of 87 percent of mobile traffic, proving that Indonesia is a mobile-first country.
The value of the e-commerce market in Indonesia is estimated to have grown to the range of USD $55 - $65 billion by 2022. This estimate stems from a new report, titled The Digital Archipelago: How Online Commerce is Driving Indonesia's Economic Development, that was released by management consulting firm McKinsey earlier this month.
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The high level of consumption in Indonesia is remarkable. In fact, household consumption in Indonesia is an important engine of economic expansion in Southeast Asia’s largest economy as it accounts for about 55 percent of economic growth. One of the most popular consumption products are gadgets, in particular mobile gadgets. Just take a look in urban environments in Indonesia; everywhere people are holding, playing with, and communicating through some sort of mobile technological device.
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