OJK Projects Eightfold Growth of Indonesia's Digital Economy by 2030

TEMPO.CO, Jakarta - The Indonesian Financial Services Authority (OJK) projected that the country’s digital economy will grow eight times to reach a value of Rp4,531 trillion by 2030.

“I want to say about the outlook, based on data from the Ministry of Trade, the digital economy will grow about eight times to Rp4,531 trillion by 2030,” OJK's Chief Executive of Banking Supervision, Dian Ediana Rae, said at the Finance Executive Forum in Central Jakarta on Tuesday, November 14, 2023.

The value of e-commerce transactions will also reach Rp1,900 trillion, and the gross domestic product or GDP is projected to increase from Rp15,000 trillion to Rp24,000 trillion by the next seven years.

“We see a huge potential for growth,” Dian expressed optimism, especially considering the country's population of 280 million people, with 70.6 percent being the tech-savvy young generation.

Moreover, he mentioned that there are 353.8 million mobile phone users in the archipelago, exceeding the number of the population as one person may own 2-3 gadgets.

“We also find that the number of Internet users has reached 212 million,” Dian said.

According to him, other aspects, such as merchants, will also develop. About 24 million merchants have used payment transactions to date. “I can say that there is no downward trend it is accelerating, especially after we experienced the Covid-19 crisis,” Dian assessed.

AMELIA RAHIMA SARI

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