Sea, Grab Face Slowest Southeast Asia Internet Growth Since 2017

Southeast Asia’s internet economy will log its slowest growth on record this year, a group of researchers said, as they slashed near-term e-commerce spending estimates for the region by 13%.

Total online spending will rise about 11% this year to $218 billion in the region, research from Google, Temasek Holdings Pte and Bain & Co. showed, slowing from 20% a year earlier and reaching its lowest rate since at least 2017. The biggest category, e-commerce, is set to reach only $186 billion in 2025, rather than the $211 billion the researchers estimated previously.