Guidebooks: FinTech Opportunity in Southeast Asia
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Southeast Asia is a dynamic market with huge opportunities for UK FinTech across the entire region.
The digital economy of Southeast Asia is projected to reach $1tn by 2030, and two-thirds of the world’s middle-class population will be in Asia by 2030.
Four of the most rapidly growing markets in Southeast Asia are:
• Indonesia – home to 20% of ASEAN FinTechs, including 4 unicorns and 1 decacorn.
• Philippines – more Facebook accounts than bank accounts means huge opportunity to capture under-served population.
• Thailand – relatively mature financial market and ranked 2nd globally for digital payment usage.
• Vietnam – highest forecast internet economy growth of 29% CAGR from 2021-25, and 2nd largest number of incubators and accelerators in ASEAN.