The Acceleration of Digitalization
Photos by Eka Nickmatulhuda.
Indonesia is the largest economy in Southeast Asia and the world’s fourth-most-populous country, with an estimated population of 273 million people spread across thousands of islands, which stretch from the Indian to the Pacific Ocean.
In the past decade, the country has grown faster than any other $1 trillion-plus economy bar China and India. A key source of this economic dynamism has been digital services within the country, which are creating a domestic consumer market where over 100 million people spend over $80 billion a year on everything from e-payments to apps for on-demand delivery. This has resulted in Indonesia becoming the largest and fastest growing digital economy in Southeast Asia, which is on track to be worth $130 billion by 2025.
In May 2023, IFC Managing Director Makhtar Diop visited the country to strengthen existing partnerships and continue to support the country’s development towards a bright and sustainable future.