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SINGAPORE The Internet economy is set to create 1.7 million full-time jobs in Southeast Asia by 2025, three times more than in 2018.
This is in line with the research results commissioned by Google and Temasek, which were released on Monday (November 19th).
The work will be designed to cope with the planned increase in e-commerce logistics, as well as hiking and food delivery services.
The web-based economy of South-East Asia is expected to exceed $ 240 billion by 2025, which is a fifth more than previously estimated, the Google-Temasek study revealed.
The total value of the Internet economy in the region was estimated to have reached USD 72 billion in 2018, which is 37 percent more than in the previous year.
This year, the GMV will only exceed $ 23 billion for e-commerce in the region, the report said.
The study, first published in 2016, covers traveling travel, e-commerce, online travel and online media.
The latest report adds new industries such as online food delivery as well as subscription music and video on demand.
The rising number of jobs is consistent with the growth of the South East Asian Internet economy, as the survey shows that by 2025 it will exceed the previous estimate of $ 200 billion.
The total number of partners involved, such as part-time workers and freelance workers who are attracted to the Internet for employment, will also increase to 12 million of the current four million.
The study also predicts job growth to a flexible working regime and additional income opportunities.
200 000 FULL EMPLOYEES
Approximately 200 000 highly skilled jobs will be created from 1.7 million jobs by 2025, as companies continue to develop their core business and expand into new areas.
The survey also noted that the increase in skilled jobs is now 10 percent per annum.
This is considerably faster than the increase in employment in the rest of the economy, which in most countries of South-East Asia, on average, is 1-3 percent per year.
Internet industry companies employ highly qualified professionals, such as software engineers, digital marketing, data science and product marketing.
Open research has revealed that these jobs are often subject to a salary of three to five times higher than the average salary in Southeast Asian countries.
Women are looking for their smartphones while traveling outside of Bangkok's shopping mall. (Photo: AFP)
WORLDWIDE WORLD INTERNET USERS
The Google-Thematic study also revealed that in June 2018, more than 350 million Internet users in all of Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam – more than 90 million more than in 2015.
This makes the countries of Southeast Asia the most involved internet users in the world.
According to a study, more than 90 percent of them connect to the Internet mainly with smartphones.
The study indicates a rapid increase in the number of users for affordable smartphone availability and the introduction of faster and more reliable mobile telecommunications services.
From the six South-East Asian countries included in the study, Vietnam currently has the most advanced Internet economy in terms of the value of the goods sold in 2018, accounting for four percent of its gross domestic product.
Singapore's second place is 3.2 percent.
FINANCING BOOST
The current total of the Internet economy in South East Asia has risen to $ 24 billion since 2015, moving ahead with the goal of attracting $ 40-50 billion of investment that they think would be needed to create the Internet economy by 2025.
Most of the investments took place in 2016 to visit and e-commerce about $ 20 billion, or 80 percent of the total raised capital.
A record $ 9.1 billion was raised in the first half of 2018.
The study also revealed that more start-up companies also receive early-stage funding.
In the first half of 2018, 580 seeds and series A were registered in South East Asia compared to 285 in the corresponding period of 2017.
Seed and Series A deals typically include novices worth less than $ 100 million, seeding seeds for the future growth of the Internet economy's ecosystem.
There were 61 series B and C series aimed at valuing companies from less than $ 100 million to several hundred million dollars, which have proven business models and growth ambitions.
In both cases, in the first half of 2018, almost the same number of transactions was made compared to 2017, bringing the total number of transactions in the region up to 2016 to almost 2,400.
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