The statements are now motherhood ones: Asia is the next big thing, its growth is unstoppable, the online market is exploding, but why is it that each time you see the numbers, read the analyst reports, a jolt of electricity still goes through your brain? Perhaps because the numbers are still hard to fathom, and often the market scenarios described have never been seen before.
Booking Holdings recently put together a report on The Next Billion Online, a paper chock-full of statistics that again is hard to visualise. And it is all happening in Asia. While it premises that the economic growth numbers and the market potential has long been said and documented, it ventures further to explore the digital transformation of the region and how that phenomenon will impact businesses and lives.
“In 2018 alone, 112 million Asians logged onto the Internet for the first time. Between 2019 and 2022, another 365 million new Internet users will join them. As Internet penetration rates climb to match those found in Western markets, another one billion people will come online,” said the report.
The report focuses on the three most populous countries in Asia – China, India and Indonesia, and targeted two specific groups of people: digital experts and leaders (those who follow the tech press).
Interestingly, the report picked up a paradigm shift in the attitude of the countries surveyed towards the Internet: people no longer consider the Internet a luxury but a basic human right. According to the survey, 79% consider it a basic necessity and 82% of people call it a “fundamental right”. People generally will fight for their rights, so expect governments to pay close attention to this shift in attitude.
Those surveyed also firmly believed Internet connectivity will improve their personal fortunes. They expect their fellow countryfolk to benefit from digital inclusion – for improved education and wealth gain.
Some of the other meaningful data points are as follows:
- According to the respondents, Internet is accessible to the majority: China (94%), Indonesia (74%) and India (56%).
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