Government Launches Indonesia Digital Islamic Economy Report

Wednesday, 23 Oct 2024

The government on Monday (7/10), launched Indonesia Digital Islamic Economy Report 2023/2024 during the Sustainable Development Goals (SDGs) Annual Conference (SAC) 2024, which took place at the Fairmont Hotel in Jakarta.

The report aims to foster the development of an inclusive economy through Islamic finance and digital transformation, in accordance with sustainable development principles and objectives, ensuring that no individual is marginalized.

The report highlights that Indonesia's vibrant Islamic digital economy is propelled by an expanding ecosystem. Currently valued at $40.57 billion, the sector is anticipated to grow to $76.09 billion by 2029.

This expansion is driven by heightened halal awareness via digital platforms, the integration of advanced technologies such as artificial intelligence, and substantial contributions from leading companies like Tokopedia, Blibli, and Traveloka.

Additionally, there is a notable increase in new digital consumers emerging from lower-tier cities, underscoring the broad reach and influence of Indonesia's Islamic digital economy.

Suharso Monoarfa, the Minister of National Development Planning and Head of Bappenas, remarked that the preparation of this report is intended to illuminate opportunities within Indonesia's Islamic digital economy and to establish a roadmap for the nation to enhance awareness among stakeholders, including government entities, investors, and industry participants, to fully realize the potential of this sector. The report characterizes the digital economy as consumer-oriented digital services bolstered by ecosystem catalysts.

"We are transforming the National Islamic Economy Committee (KNEKS) this year into a national body, which reflects the government's dedication to embracing Islamic finance. Islamic finance will also be integrated into the National Long-Term Development Plan (RPJPN). Therefore, it is not solely about halal certification; we aspire for a more comprehensive approach," Suharso stated.

In developed nations, the management of halal-related ports is remarkably sophisticated, featuring extensive facilities that play a crucial role in the economic advancement of these countries. This serves as a motivating example for us. As the nation with the largest Muslim population globally, we should strive to replicate their achievements. This is the initiative we seek to advance, as articulated by the Head of Bappenas.

The Indonesia Digital Islamic Economy Report 2023/2024 is available at https://idie.bappenas.go.id

The Indonesia Digital Islamic Economy Dashboard provides a comprehensive overview of the landscape of the Digital Islamic Economy in Indonesia. This economy includes digital-native, consumer-focused services that are fundamentally guided by Islamic principles or requirements.

The dashboard offers insights into the scale and current condition of the Digital Islamic Economy across various provinces, emphasizing trends, strengths, and opportunities within each sector. These sectors encompass digital Islamic services and platforms related to Halal food, Halal tourism, Halal pharmaceuticals and cosmetics, modest fashion, and Islamic finance. Furthermore, a global perspective is included, allowing users to compare Indonesia's Digital Islamic Economy with that of other nations.

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