Indonesia’s economy continues to grow massively despite global economic stagnation and financial market turmoil. Indonesia stands as the 16th largest economy in the world boasting a robust GDP surpassing the remarkable threshold of US$1 trillion showcasing a consistent annual growth rate of over 5.2% over the past two decades.
The World Bank positioned Indonesia as one of the upper-middle income countries and Indonesia eagerly continues its ambition to become one of the high-income countries by 2045. With a massive population of 280 million people it is fortunate that majority of the population is classified as working age.
In reality, it is domestic consumption that are the engine of the growth. Indonesia has one of the world’s fastest growing middle class. They are mostly young, optimistic and sophiscated buyers. With the youngest population in the Southeast Asia religion, where 25% are under 15, Indonesia poses a massive consumer market.