KPMG-HSBC Research: Indonesia in Early Days of Digital Take Off

Abstract

The expansion of Indonesia’s digital financial system will give delivery to many new unicorns. Within the newest report, “Rising Giants within the Asia Pacific,” printed by KPMG and HSBC, Indonesia’s digital financial system development is pushed by the enlargement of the center class and the continued development of the web and smartphone person base. All the startup neighborhood in Indonesia has grown to greater than 5,400 companies.

Whole e-commerce transactions reached US$275 billion in 2021 and are anticipated to develop 20-25 p.c yearly over the subsequent few years. “You noticed what occurred in China in the course of the 2000s. That is the place Indonesia is now – within the early days of its digital take-off,” says Susanto, Head of Purchasers and Markets and Insurance coverage Follow Chief KPMG Indonesia in Rising Giants in Asia Pacific report.

The analysis relies on observations of greater than 6,472 startups within the Asia Pacific with as much as US$500 million valuations in 12 Asia Pacific markets: Indonesia, China, India, Japan, Australia, Singapore, South Korea, Hong Kong, Malaysia, Vietnam, Taiwan, and Thailand.