According to reports, The Philippines has the fastest-growing digital economy in Southeast Asia this year. As per officials, Philippine digital economy’s gross merchandise value for 2024 is seen reaching $31 billion, up 20 percent compared to last year.
E-commerce was projected to grow 23 percent this year to hit a gross merchandise value of $21 billion. By 2030, the GMV of the e-commerce sector is projected to reach $60 billion. From a macroeconomic perspective, the Philippines is currently enduring a robust domestic consumption. A revitalized services sector, and as always, a strong flow of remittance from overseas workers. This will be helped by the stabilization of inflation and declining unemployment rates. This all then helps drive an inclusive demand for digital services.
