Economic report on Southeast Asia said that the digital economy of the Philippines is expected to reach $20 billion (about ₱1.1 trillion) by the end of 2022.
The digital economies of Vietnam, the Philippines, Singapore, Thailand, Malaysia, and Indonesia were looked at in the annual economy SEA report.
According to the annual SEA report, the Philippines’ digital economy grew by 22% over the past year.
It also says that the digital economy in the country will grow at a rate of 20% per year and reach $35 billion in 2025. The report also says that by 2030, the industry could be worth between $100 billion and $150 billion.
There is also expected to be a lot of growth in certain parts of the Philippines in 2022. According to the study, the transportation and food delivery industry could be worth $1.9 billion, travel could be worth $1 billion, digital financial services could be worth $6 billion, and online media could be worth $3.1 billion.
This should make the country a “hot investment hub across sectors including digital financial services.”
According to the report, the country has the “fastest growing digital investments sector” in SEA in 2022, with a 63% increase from the previous year.
They also said that between 2025 and 2030, 73% of the investors would likely do more deals in the country’s digital economy.
People say that investors are especially interested in digital financial services because 56% of them put money into that sector in 2022, bringing in about $450 million just in the first half of that year.
