70 million people in Southeast Asia, equivalent to the entire population of the United Kingdom, have become digital consumers By 2026, Southeast Asia’s digital consumer population is expected to reach around 380 million, which is 1.4 times bigger than it was in 2019. "In 2020, Southeast Asia’s migration from the offline to the online economy surpassed our initial estimates and took off at an accelerated pace. Changes that were expected to take place over half a decade took place in just a year, partly because of the consumption habits brought about by the pandemic," the report wrote. "Digital habits here to stay in a post-pandemic future." The report also reveals top 10 notable points in the post-pandemic habits of Southeast Asian consumers. First and foremost, Southeast Asia leads Asia-Pacific’s digital transformation. Since the start of the pandemic, 70 million people – equivalent to the entire population of the United Kingdom – have become digital consumers. Almost …
Foreign hotel brands pin high hopes on post-pandemic rebound of Southeast Asia
Foreign hotel brands continue expansion in anticipation of Southeast Asia's post-pademic rebound. Photo: The Standard, Hua Hin Club Med, the French hotel group, is preparing for a strong travel rebound in the Asia-Pacific. In particular, Club Med is searching for prospects in Southeast Asia, notably in Thailand, Vietnam, and Indonesia. Jean-Charles Fortoul, CEO APAC Resorts of Club Med said, “We have identified Thailand, Vietnam, and Indonesia as markets that are well-positioned to leverage the rebound and we are on the lookout for investors and partners to tap into the potential of these destinations.” Meanwhile, The Standard is expanding into key markets in Southeast Asia with the announcement of The Standard, Hua Hin, which is set for December 2021. After that, The Standard will open its highly anticipated Asia flagship, The Standard, Bangkok Mahanakhon in 2022. The US hotel brand is expected to take the lead in tourism recovery as well as explore key hospitality markets in …
E-commerce booms in Southeast Asia since pandemic breaks out
Grab delivery cyclists ride past each other in Singapore in 2020 (Photo: AFP) Hanoi (VNA) – An estimated 70 million more people shopped online in six Southeast Asia n countries since the COVID-19 pandemic broke out, according to a report from Facebook and Bain & Company. As governments encourage people to stay at home to curb the spread of the coronavirus, Southeast Asia saw a rapid adoption of digital services like e-commerce, food delivery, and online payment methods. This trend is predicted to continue in the coming time. The report, which surveyed more than 16,000 people in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam, projected the number of digital consumers in Southeast Asia will reach 350 million by the end of this year. By the end of 2021, Facebook and Bain expect more than 70 percent of people 15-years-old and above in the surveyed countries to shop online. The report predicted the number of online shoppers in Southeast Asia will …
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COVID-19 immunity key to Southeast Asia’s economic recovery from Delta variant
COVID-19 immunity is key to Southeast Asia’s economic recovery from the Delta variant The Global Economic Forecast Report predicts that economies with low immunity levels face the greatest risks moving forward. As the Delta variant triggers a renewed surge in COVID-19 cases, certain countries remain vulnerable to its impact, due to having slower vaccination rollouts and higher exposure to global supply chain disruption. Asian economies have experienced varying degrees of success in containing the Delta variant, because of differing rates of vaccination and social distancing restrictions. On one end of the spectrum, significant waves of infections in Vietnam, Malaysia, Philippines, and Thailand in the last quarter mean those countries face a delayed recovery in 2021, according to the report, but they should see a significant rebound in 2022, once vaccination rates are higher and lockdowns are lifted. On the other end, Singapore, Hong Kong, and China have recorded much lower …
Floods, loss of biodiversity, sea level rise remain top concerns in Southeast Asia: Survey
Floods, loss of biodiversity and sea level rise are the top three perceived climate change impacts in Southeast Asia, according to a climate survey on regional people's attitudes and perceptions conducted by the ISEAS – Yusof Ishak Institute (ISEAS). Damaged buildings and debris are seen after Typhoon Chanthu passed through Sabtang, Batanes, Philippines, in this September 12, 2021 image obtained via social media. DENNIS BALLESTEROS VALDEZ via REUTERS According to the Southeast Asia Climate Outlook Survey, conducted online from June 11 to August 2, 2021, the issues are most concerned by people in Laos, Malaysia and Thailand. Compared to 2020, 13 percent more Indonesia respondents and 10 percent more Malaysia respondents are concerned about tropical storms. In Indonesia, the Philippines and Singapore, loss of biodiversity is no longer perceived as a top impact and was replaced with floods or rainfall-induced landslides. The vast majority of respondents …
Vietnam remains Austria reliable partner in Southeast Asia
Both sides agreed to step up cooperation in trade, investment, and healthcare. Vietnam continues to be Austria’s reliable and important partner in Southeast Asia as both countries have huge room to further expand bilateral relations. Prime Minister Pham Minh Chinh at the phone talk. Photo: Nhat Bac Austrian Prime Minister Sebastian Kurz stressed the view in a phone talk with his Vietnamese counterpart Pham Minh Chinh on September 16. For his part, Vietnam prime minister Chinh congratulated Austria for having successfully hosted the fifth World Conference of Speakers of Parliament (WCSP5), while expressing his delight at the achievements gained by both countries which established diplomatic ties nearly half a century ago. “Vietnam gives priority to its relations with Austria and looks to strengthening the partnership in all spheres,” Chinh added. Ahead of the 50th anniversary of diplomatic relations (1972-2022), both government leaders agreed to resume …
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Amazon Web Services expands start-up support programme to Southeast Asia
A corner at Med247, a company joining Startup Ramp programme. The programme is now further expanded in Southeast Asia. — Photo Courtesy of Amazon Web Services Amazon Web Services has announced the expansion of Startup Ramp, its support programme for early-stage start-ups building solutions in health, digital government, smart cities, agriculture, and space technology in Southeast Asia. Customers in Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Viet Nam can now also apply for the programme, the company said after the conclusion of AWS Startup Ramp in India. The programme seeks to remove barriers for entrepreneurs who want to make an impact in the public sector by providing technical design and architecture reviews, mentorship, credits, and support with go-to-market plans to help navigate the complex regulatory and security requirements. Start-ups in the earliest stages working on finding product-market fit and meeting their first customers can apply to become …
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Thai bank Krungsri expands footprint in Southeast Asia, including Vietnam
Krungsri aims to generate 10 per cent of its profits from overseas markets Krungsri targets to generate 10 per cent of profits from overseas markets, compared to the current 4 per cent, cited Reuters . "We will use our strengths to build new business, diversify, and build resilience. We will start with the retail markets, which is our strength, and then advance to commercial segments if there are opportunities," said chief strategy officer Pairote Cheunkrut. In August, Krungsri inked an agreement with Vietnamese lender SHB to purchase 100 per cent of consumer finance company SHB Finance. Under the agreement, SHB will transfer 50 per cent of SHB Finance's charter capital to Krungsri and the remaining 50 per cent after three years when the two parties satisfy certain conditions and meet the relevant regulatory requirements. The size of the deal was rumoured to be around $156 million. SHB Finance is among the five largest consumer finance companies in Vietnam, along with FE …
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Singapore-based Carousell becomes Southeast Asia’s latest unicorn
After becoming Southeast Asia's latest unicorn, Carousell will continue to accelerate Cho Tot's expansion in Vietnam Since its inception in 2012, Carousell has served tens of millions of users in eight regions in Greater Southeast Asia with the brands Carousell, Mudah.my, Cho Tot, and OneKyat. The investment will power Carousell's ambitions to redefine commerce for secondhand goods and automobiles in an increasingly digitally savvy, affluent, and sustainability-conscious region. "The pandemic has shown us that our mission to inspire the world to start selling and buying secondhand is more relevant than ever. People in the community are using our platforms to make more possible for each other – through shared passions, making ends meet, affording what they need, or simply because it is more sustainable. We believe that the accelerated adoption of digital experiences is an opportunity for us to double down on our recommerce efforts with a focus on convenience and trust, to unlock …
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Two Vietnam resorts among Travel + Leisure’s top 10 in Southeast Asia
With an overall score of 96.21 out of 100, Six Senses Con Dao topped the list in the magazine’s World's Best Awards this year. "At this all-villa resort on a little-visited Vietnamese island, that mission involves supporting sea-turtle conservation—an activity in which guests can participate in its perfectly parabolic, shallow, white-sand bay," Travel + Leisure said. Six Senses Con Dao on Dat Doc Beach is the only five-star beach resort in the Con Dao archipelago off Vietnam's southern coast. Located inside Con Dao National Park, it has 50 beach villas, built mainly with natural materials and each with a private swimming pool. The Four Seasons The Nam Hai Hotel & Resort near Ha My beach in the central town of Hoi An ranked sixth with an overall score of 93.78. Four Seasons The Nam Hai in Hoi An. Photo courtesy of Four Seasons The Nam Hai The complex of 100 villas has a combination of traditional and modern architecture. This year's World's Best Awards …
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