Although ASEAN (as a single community) lags behind its global peers in the digital economy, it has the potential to enter the top five digital economies in the world by 2025.1 Moreover, implementation of a radical digital agenda could add $1 trillion to the region’s GDP over the next 10 years.
By 2025, a digital revolution could transform daily life in ASEAN, making physical cash increasingly obsolete and cities smarter, safer places to live. With a large and youthful population increasingly equipped with smartphones, ASEAN has an opportunity to pioneer the development of new digital services, especially advanced mobile financial services and e-commerce. These sectors are likely to give rise to digital champions that will lead the way for the broader economy.
1 No ASEAN country—other than Singapore—features consistently and prominently in global digital indices.