On October 21, 2026, Google, Temasek, and Bain & Company released the e-Conomy SEA 2026 report, forecasting that Southeast Asia’s internet economy size will reach $368 billion, a 17% increase from $315 billion in 2025. This metric is measured by the Gross Merchandise Value (GMV) of goods and services, not value-added in GDP.
E-commerce continues to lead with $226 billion, up 18%. AI helps create sales videos, recommend products, and improve purchase conversion rates by 10% to 15%.
Online travel is projected to reach $59 billion, up 10%; online media to reach $44 billion, up 22%; and ride-hailing and food delivery to reach $40 billion, up 15%.
A survey across 6 countries, including Vietnam, shows that 69% of consumers use AI to compare products before shopping.
Southeast Asia has 243 million generative AI users, equivalent to 58% of the working-age population, achieving this level of adoption in just 3 years.
However, the level of AI usage remains limited. Across the 6 surveyed markets, average token consumption is about 5 million per person, compared to 60 million in the US and 14 million in Europe.
Private investment in data centers reached $16.3 billion in the first 6 months of 2026, about 16 times higher than the same period in 2025, largely driven by major deals from ST Telemedia and DayOne.
Out of $4 billion in private investment into digital businesses, approximately $3.2 billion, or 80%, was allocated to AI applications. In the same period of 2025, this ratio was only 30%.
Singapore is projected to reach an internet economy size of $31 billion, up 8%. The report also notes that AI is driving advertising, content creation, service personalization, and e-commerce.
📌 Conclusion: The e-Conomy SEA 2026 report shows that Southeast Asia is experiencing strong growth in the internet economy and generative AI adoption, with GMV projected at $368 billion and 243 million AI users. However,average token usage across the 6 surveyed markets is only about 1/12th that of the US, reflecting a massive gap in usage intensity. While AI investment capital is growing rapidly, the core challenge is shifting from tool adoption to deep application, productivity enhancement, and the creation of genuine economic value.
