The ASEAN E-commerce market.
While the individual countries of Southeast Asia do not amount to any significant value upon the giant economic powerhouses of the world, its presence as part of the ASEAN region most certainly speaks volumes towards the GDP of the world, taking up to 3.5 % of the total in 2017. E-commerce is a part of that financial strength of the 10 countries that make the ASEAN initiative which also coincides with many readings and Research done with the regions involvement with foreign investments, taking the third spot in FDI inflows in 2017.
Experts see this use due to the increase in urbanisation that the countries have experienced in the last few years which helps to grow the financial stability and growth of the ASEAN market. This also buffered by the newest and trending event of the online rise for southeast asians. Many see the this embracing of digital over traditional has allowed E-commerce, which helps to simplify and streamline business exponentially and in turn increase sales of any kind. In 2017, ASEAN countries Malaysia and Thailand were both categorised as the 18th and 37th most connected countries respectively. At the 33rd ASEAN summit at Singapore, the road map to words a more digital ASEAN was established and a goal was set by the 10 countries that by the end of 2025 the combined regions internet economy will reach 240 billion USD, which broke western research of only 200 billion USD. in 2019 and with 6 more years to go, many speculate that that goal is definitely within reach and perhaps would be surpassed within the time frame stated.
The future of Ecommerce Malaysia is incredibly ensured and the steps needed to be taken now for the ASEAN regions is its decisions moving forward. Had ASEAN been its own country, experts believe that it would be the fifth largest economy in the world.…