THE Philippines' e-commerce sector is forecast to hit $60 billion in gross merchandise value (GMV) by 2030 and remains the centerpiece of the country's digital economy, says a report from Google, Temasek, and Bain & Company.
Bain & Company Manila founding member Bennet Aquino on Tuesday presented the Google e-Conomy SEA 2024 report, focusing on the Philippine perspective and anticipating that, by yearend, the e-commerce market in the country will be valued at $21 billion, or 23 percent higher than the $17 billion last year. "We expect e-commerce to be a substantial and a material contributor to the Philippines' digital economy moving forward," Aquino said at the report's launch in Taguig City, adding that the projected growth is "astounding" for a market or a sub-sector that has matured rapidly in recent years.
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