Singapore: The new “place to be” for e-commerce in Asia?
There’s no better time to get into e-commerce than now. With the digital economy booming, more people around the world are going online for many things — from groceries to entertainment needs. Across Asia Pacific, the e-commerce industry is soaring particularly high.
The region, according to payments technology company Wordplay, is predicted to lead the way in the global transition to mobile commerce, as well as in the adoption of eWallets. The report also reveals that the e-commerce market in Singapore is expected to grow by 48% by 2022, with mobile commerce overtaking desktop sales, making up 52% of all online sales.
E-commerce in Singapore is a thriving industry, compounded by the country’s high-speed ICT infrastructure, tech-savvy citizens, and a government determined to build a world-class digital economy and achieve Smart Nation status. It’s the second easiest place to do business in the world according to the World Bank, given its advanced infrastructure network, laws that make company incorporation simple, use of English as the main business language, tax relief, and strong IP protection. Various advantages that will make Singapore, the place to be.
Singapore’s geographical location also makes it a strategic place for e-commerce players to flourish. It’s an ideal platform for businesses looking to make inroads in the rest of Asia Pacific, especially close neighbours such as Indonesia and Malaysia, and is also in close proximity with China.
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