Why is Southeast Asia the Promised Land of Technology Startups

While the US market is getting more and more expensive, many investors are starting to pay attention to Southeast Asian countries, where the growing digital and industrial industries have exploded in the past few years.

According to Jungle Ventures, Southeast Asia’s tech startups have a combined valuation of $340 billion in 2020 and predict this number will triple by 2025.

Southeast Asia is a potential but relatively new market for investors. Many businesses face psychological barriers when deciding to pour capital into this market. However, here are 3 reasons why Southeast Asia is an attractive destination for investors.

The Population is Large and Still Young

According to statistics, the population of Southeast Asian countries is more than 655 million people, accounting for about 8.5% of the Electric Email List world population. The Philippines alone has a population of about 109 million, followed by Indonesia and Vietnam with a population of about 273 and 97 million, respectively.

Each country at a different level of development opens up opportunities for the development of new business models and technologies. In addition, a large and rapidly emerging middle class reflects the quality of consumption and the shape of the market.

According to a study by Google, Temasek and Bain & Co., more than 40 million people have used the Internet in 2020. Of which, 94% of users rate will continue to use digital services.

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About 10 Years Ago the Internet Was Not Really Popular

Currently of users in the region connect to the Internet mainly through mobile devices.

Therefore, it is a potential market for the latest open source software and application development. That is why digital transformations in all sectors are taking place in this country.

The economy grew steadily.
One of the reasons Southeast Asia is an attractive destination for investors is the strong growth wave.

The GDP of the five largest members of CMB Directory the Association of Southeast Asian Nations (Indonesia, Malaysia, Philippines, Singapore, Thailand) will grow by about 5.1 in 2022. The Philippines’ 2022 GDP growth forecast was recently revised. from 6.6% to 7.1%, of Thailand was adjusted from 3.4% to 3.7%.

These countries have enjoyed a remarkable leap in high levels of economic development over the past 30 years, outpacing the top developed countries in terms of real GDP per capita growth.

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