Despite companies embarking on digitalisation, Singapore’s eCommerce economy shrank by 24% to SG$12.1 billion in gross merchandise value (GMV) this year as the online travel sector got restricted by lockdowns and travel bans.
With various sectors expected to rebound, Singapore’s economy is gradually recovering and is now back on track to reach US$22 billion in GMV by 2025.
Read the entire article here: https://www.straitstimes.com/business/economy/singapores-internet-economy-shrinks-24-on-online-travel-hit-despite-e-commerce-boom
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