E-Commerce in Asia: A Study of Its Economic Impact on the Region

In Asia, e-commerce has the potential to generate considerable economic benefits due to the significant opportunities it offers. Recent years have seen a significant development in the global economy that has been referred to as e-commerce (electronic commerce). In order for the Asian countries to be able to take advantage of the opportunities presented by this global trend of growth, they will still have to make progress in areas such as connectivity, services, rules and regulations, as well as labour skills. As a result of government policy, the market can be assisted to maximize the benefits of the information revolution, and to mitigate the risk of potential market failure, as well as to facilitate market mechanisms that will facilitate the transition. E-commerce has the potential to play a significant role in the development of Asia and the Pacific as a whole. Over the last few years, the Asia Pacific region has grown at the fastest pace compared to any other region of the global business-to-consumer e-commerce market, making up the majority of the global e-commerce market in the business-to-consumer segment. It is expected that Asian and Pacific countries will have a 25% share of e-commerce in their Gross Domestic Product by the end of 2025, according to the World Bank. Among the many advantages of e-commerce for small and medium-sized businesses, one of the most notable is the ability to reach global markets and to compete at a global level.