After India and China, Indonesia is currently the third fastest growing economy in the Group of Twenty. It’s also forecasted to be one of the world’s biggest economies by 2030.
Indonesia also has an enormous population of 260 million and a rapidly-growing middle class.
Speaking at the in-market workshop, Mr Azman Jaafar of RHTLaw Taylor Wessing said the country boasts a large, young and “disruptor” talent pool.
When it comes to e-commerce, the opportunities in Indonesia are particularly tantalising. By 2020, the archipelago nation’s e-market is estimated to be worth some $130 billion U.S. dollars.
Internet penetration is currently at 132 percent and there are more than 173 mobile phone users in the country. There are additionally about 92 million active users on social media platforms like Facebook, YouTube and Twitter.
With most Indonesian consumers using mobile to make online purchases, the e-commerce market is very much mobile-first — which has allowed retailers in Indonesia to focus on creating exemplary mobile functionality, thus offering unique opportunities for firms to dominate the retail space.