Google, Temasek, and Bain & Company have released Tuesday the latest e-Conomy SEA report.

It reveals a 2.5-fold increase in Southeast Asia’s digital economy profits over two years, from US$4 billion in 2022 to US$11 billion in 2024.

The report predicts the digital economy’s gross merchandise value will reach US$263 billion this year.

This marks a 15% rise from 2023. Revenues are expected to grow by 14%, totaling US$89 billion in 2024, indicating a positive outlook.

This comes as Southeast Asia is becoming a center for AI innovation, with over US$30 billion invested in AI infrastructure in the first half of 2024.

Consumer interest in AI has surged, with search interest rising elevenfold in four years.