Internet Users in Asia Ex-Japan to Rise 35 Percent (Correct)
Singapore, May 13 (Bloomberg) -- The number of Internet users in Asia outside of Japan are expected to expand at 35 percent a year until 2003 to reach 57.5 million customers then, market researcher International Data Corp. or IDC said.
The projections come even as the region plunged into an financial crisis almost two years ago, and governments of countries such as Malaysia, India and Singapore continued to develop their information technology markets.
Asia's Internet growth is crucial as it could help fuel the next wave of economic expansion as the region heads for a recovery. IDC estimates that the Internet commerce market in Asia excluding Japan will climb to $32.6 billion by 2003 from $724 million last year.
''What we see is the demand for Internet services is so great that despite the economic slowdown, the number of users have grown and is expected to continue growing,'' said Richard Jacobson, an analyst at IDC in Kuala Lumpur. ''With the economic slowdown, many companies are turning to the Internet to become more globally competitive and it levels the playing field'' for doing business.
Customer gains are evident in Asian Internet companies. Yesterday, Singapore's Pacific Internet Ltd., which also offers Internet services in Hong Kong and the Philippines, said its dial- up customers rose 50 percent to 217,014 in the first quarter from a year earlier, enabling it to double its profit. The company is the first Asian Internet stock traded on Nasdaq.
Among the region's markets, Australia is the biggest with $432 million in Internet commerce transactions last year, Jacobson said. IDC predicts that China and India will lead the market in 2003 with the number of Internet users.
May/13/ 99 7:17
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