Southeast Asia’s growth stands out even more, given that most other geographies will see only moderate increases this year. The region’s 20.6% expansion in 2022 will be the highest in the world. Latin America will be the only other region that will crack the 20% threshold this year.
Only four countries in the world will produce faster growth rates than Southeast Asia’s combined figure, and two of them—the Philippines and Indonesia—are in the region.
Five countries within the region—the Philippines, Indonesia, Vietnam, Malaysia, and Thailand—will rank among the top 10 markets measured by retail ecommerce sales growth.