Over the next few weeks, MEDICI brings you a series of articles exploring FinTech in the ASEAN region. The articles, each focused on a different ASEAN country, provide comprehensive insights into the FinTech investment landscape in the region.
ASEAN in Figures
ASEAN (the Association of Southeast Asian Nations) is the third-largest Asian region. It is home to more than 630 million people and one-fourth of the population lives in urban areas. ASEAN has an annual growth rate of 4.7% and USD 119.97 billion in FDI; it is also one of the fastest-growing regions as well as the seventh-largest economy globally.
Its population is young and educated with a literacy rate of over 80%, phone-savvy with more than 0.5 phones per person, and enjoys a low-to-mid unemployment rate of 0.5%–6.9%. ASEAN members also have an average to a high life expectancy of 69–82.7 years, and a gender parity of 49.9% males to 50.1% females.
So far, we’ve explored Thailand[1], Singapore[2], and Vietnam’s[3] FinTech ecosystems from an investment perspective. In this article, we take a comprehensive look at another interesting ASEAN country – Cambodia.
Indonesia in Figures
With more than 250 million people, Indonesia is the most populated country in the region. Its largest city, Jakarta, is inhabited by more than 8.5 million people, and 53% of Indonesians live in urban areas.
While Indonesia shows strong growth at 4.8% per year, high cell phone penetration with 1.3 phones per person, and a high literacy rate with 95%, it has a relatively high unemployment rate of more than 6%. More than 25 million people live below
