SINGAPORE (Nov 19): Southeast Asia’s Internet economy hit US$72 billion ($99 billion) in gross merchandise value (GMV) terms this year across the online travel, e-commerce, online media, and ride-hailing sectors -- thanks to a large, growing and “incredibly engaged” internet user base.

This according to “e-Conomy SEA 2018” report released on Monday by social media giant Google Inc together with Singapore state investment fund Temasek Holdings.

Growing at 37% from a year earlier, the regional Internet economy also accelerated beyond the 32% compounded annual growth rate (CAGR) that the report recorded between 2015 and 2018 and is on track to exceed US$240 billion by 2025 — US$40 billion higher than previously estimated.

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