Company: NUTR
Filing Date: 2025-04-14
Form Type: S-1/A
Source: 0001641172-25-004581
Chunk: 86

Company: NUSATRIP Inc
Filing Date: 2025-04-14
Form: S-1/A
Chunk 86
---
4.

This urbanization trend is highly correlated with the growth of the consumer class. Simply put, urbanization drives middle class consumption demand. ASEAN’s middle income population is anticipated to grow from 172 million in 2010 to 472 million in 2030. Hence, as the developed world grapples with slower economic and productivity growth, ASEAN provides enormous opportunities via its demographic dividends in three key areas. First, the relatively young ASEAN population will grow from 654 million in 2018 to 726 million in 2030. At a size of half the Chinese population, this will be a massive market that the world cannot ignore. Second, the United Nations forecast predicts that ASEAN’s urbanisation rate will increase strongly from 49 per cent in 2018 to 56 per cent in 2030, and further to 66 per cent by 2050. Third, Asean’s participation in the Regional Comprehensive Economic Partnership (RCEP) – the world’s largest trade agreement – will bring about a virtuous cycle of global investment and talent flows into this region. This will inject fresh assets under management (AUM), create new ASEAN wealth, and enlarge the wealth management pie. 15

The mobile and Internet economy continues to boom in SEA. According to Google Temasek e-Conomy SEA 2024 Report, SEA Internet usage increased with 252 million new users added in 2024 for a total of 612 million compared to 360 million in 2019. 16Seventy percent of SEA’s 685 million people is now online, compared to approximately just twenty percent in 2009. In addition, SEA mobile Internet penetration now reaches more than 67%. E-commerce, online media and food delivery adoption and usage surged with the total value of goods and services sold via the Internet, or gross merchandise value (“GMV”). SEA GMV is expected to reach more US$263 billion in 2024, growing 15% year on year. In fact, the SEA Internet sector GMV is forecast to grow to over US$300 billion by 2025. 17SEA’s digital adoption is nearing full adoption among digital users in urban SEA and reaching 94% penetration rate for e-commerce in the region.

13 See ASEAN (2024). ASEAN Matters: Epicentrum Of Growth.

14 See Worldometer (2024). South-Eastern Asia Population.

15 See Statista (2024). Share of middle-income class in overall population in