SINGAPORE -- The travel and ride hailing segments of Southeast Asia's digital economy, once pillars of growth for fast-rising internet businesses in the region, have taken a drastic hit from the coronavirus pandemic.
According to a yearly report released Tuesday by internet giant Google, Singapore state investor Temasek and U.S. consultancy Bain and Company, both sectors shrank 13% in terms of consumer use amid COVID-19, as consumer behavior shifts due to various forms of lockdown to stem virus transmissions in the region.
