Challenges

Mar 31, 2021 By Innovative Hub Despite the Covid-19 outbreak and its related challenges, the economies of Southeast Asian countries performed surprisingly well in 2020 as the Asian Development Bank (ADB) projected a contraction of 3.8%. The numbers do not strike fear in the hearts of economists and entrepreneurs alike when compared to Eurozone’s 7.9% and Britain’s 10.1%. In fact, Southeast Asia’s digital economy experienced significant growth last year (RM4 billion) due to the e-commerce industry’s rapid expansion. Meanwhile, the e-Conomy SEA Report spotlighted that 2020 saw 40 million new online customers in the region and predicted that Southeast Asia’s digital economy will be valued [...]