Despite slow internet, the Philippines’s digital economy is expected to hit $35 billion in 2025 – up 45 per cent from $24 billion in 2023, continuing its remarkable climb, according to an industry estimate. E-commerce has ignited the country’s economy, making it one of the fastest-growing digital economies in Southeast Asia.
As of January 2024, the Philippines boasted 86.98 million internet users, as reported by DataReportal’s Global Digital Insights report. The country has sixth-highest number of Facebook users in the world (86.75 million), out of a population of about 119 million. In 2022, the internet economy registered a gross value added of about 2.08 trillion pesos, ($36.11 billion) representing 9.4 percent of the nation’s gross domestic product (GDP).
