Malaysia has always been on the rise in digital technology in recent years. Without the monopolization of Internet services, many Internet service providers have been creating cheaper yet efficient plans for the general masses of Malaysians. This then affects digital companies like Slotoro online to boom in the current era.
In 2020 alone, growth within the digital economy has understandably accelerated as the COVID-19 pandemic gave birth to new digital businesses, forced traditional brick-and-mortar enterprises to pivot online, and saw millions of Malaysians go virtual for their eCommerce, entertainment, and even education needs.
Rise of Digital Services
The freedom and cheaper plans from internet providers have created a new era for consumers and people looking for an opportunity to utilize the internet to earn money. Here are a few examples of a major boom in popularity and, at the same time, helping the economy of Malaysia digitally.
E-commerce
Since COVID-19, people have been unable to go out, therefore, buying necessities and products is harder than ever. Malaysians look towards online stores to buy their needs and wants. This caused phenomenal growth in the e-commerce sector in Malaysia, with many people buying, the seller has to create a more efficient and faster way for products to reach their home. It was said that the online economy is on its way to becoming 25.5% of Malaysia’s gross domestic product by 2025.
Digital Wallet
Digital wallets like Touch and Go, Boos, and Grabpay are widely used throughout the country right now. With the ease of transferring money to the shop or vendor, there is less risk of bringing real money with the customer, and the payment amount will always be clear and concise.
Therefore, the more people use it, the more convenient it will become. The faster the transaction in between also saves up time for the customer.
E-hailing
Ever since the introduction of E-hailing, people have been skeptical as there are just too many loopholes in this business. As time goes on, people grow more dependent on the service as people without cars can also go to places that are far from the LRT. Their prices are told beforehand and transparent.
This also creates new jobs that can be accepted digitally through their phone. These jobs can be easily applied and receive the job, and because of that many Malaysians have chosen to be part-time E-hailing driver as their secondary income.
E-learning
Covid-19 has successfully locked down the country, but learning still persists in its own way. The Malaysian government has decided to insist on online learning classes to not slow down the overall progress of the country’s youth. Many online tuition, online learning websites, and programs pop up to let the parents know where the best place to start learning is.
This has created many opportunities for this section of the service to grow economically and technology-wise, the ebooks are getting better with every day passing.
Online Gaming
Recreation activities like online gaming have been commercialized over the years, with the addition of online streamers and esports gaming. These services are designed to provide entertainment to the audience while earning money for themselves.
Another major improvement is that Malaysia’s esports team can represent the country to compete in Esports around the world to bring more awareness to the country’s existence.
It has grown so big that many team players are now coming from Malaysia. Mostly, they join China or SEA teams, but the growth is evident in the number of players who are participating in international esports games.
Advantages of Digital Revolution
There are a few advantages that are clearly beneficial to Malaysia as a country with the influence of digital development and advancement. Here are a few key advantages:
Digital Economy Rising
More Malaysian users are spending their money online. Many of them are spending on the new services and systems that are created by local stores. With the e-commerce boom, many local stores have the chance to sell their products nationally, while e-hailing drivers get more money from local drives and trips.
Improving the overall scene of Malaysia’s economy and creating millions of jobs inside the country. Also, creating more jobs that are working from home, thus reducing the traffic in major cities in the country while providing for themselves.
Final Thoughts
Recent data indicates a swift surge in the integration of digital technology solutions across Malaysia, as more than 82% of businesses within the country incorporate digital tools into their operations. Furthermore, Malaysia boasts one of the most noteworthy rates of e-commerce adoption in Southeast Asia, with a substantial 45% of the population actively participating in online transactions. Therefore, the future of Malaysia’s online advancement and revolution will continue with all the services that have happened up to now.
