Southeast Asia’s Digital Economy Faces Slowing Growth (1)

Southeast Asia’s internet economy will log its slowest growth on record this year, a group of researchers said, underscoring weakness in consumer demand and a push to show profits instead of revenue gains.

Online spending will rise about 15% this year to $263 billion in the region, research from Google, Temasek Holdings Pte and Bain & Co. showed, slowing from 17% a year earlier and reaching its lowest rate since at least 2017. The local digital economy is also set to record its lowest level of private funding this year, the report showed.

Consumers in the region of more ...