GoTo's Tech Ecosystem Drives Resilience and Economic Growth
A recent study by the University of Indonesia's Institute for Economic and Social Research (LPEM FEB UI) reveals the positive impact of GoTo's technological ecosystem on partner income, resilience, and economic growth. Despite challenging economic conditions in 2022, the integration of technology has made partners more resilient, leading to consistent or increased income. The study emphasizes GoTo's role as Indonesia's largest digital ecosystem and its contribution to the national economy, estimated at 1.8-2.2% of GDP.
GoTo's partners demonstrated above-average utilization of financial services, with 91% using digital wallets, mobile banking, and savings accounts. This surpasses the national average of 85% reported by the Financial Services Authority. The ecosystem's inclusive and user-friendly nature creates equal opportunities, resulting in increased financial inclusion and job prospects, particularly for women.
The study highlights the diverse educational backgrounds of GoTo's partners, ranging from individuals without formal education to bachelor's degree holders. This inclusivity extends to business ownership, where both men and women have equal representation among merchants.
Tanah Sullivan, Head of Sustainability at the GoTo Group, appreciates the research findings and emphasizes GoTo's mission to facilitate economic participation through technology. Initiatives introduced in 2022 aimed to enhance financial inclusion and eliminate growth barriers within the ecosystem, including microloans, financial literacy programs, and hyperlocal initiatives for merchant partners.
GoTo Group's sustainability efforts focus on enhancing financial inclusion and eliminating growth barriers. Initiatives include microloans, financial literacy programs, and hyperlocal initiatives for merchant partners. These efforts have contributed to job opportunities for women, with over 50% of workers employed by merchant and seller partners being female.
Chaikal Nuryakin emphasizes the balanced proportion of male and female partners among merchants in terms of business ownership, underscoring the ecosystem's commitment to inclusivity.
The study concludes that GoTo's technological ecosystem drives partner income growth, financial inclusion, and gender equality. It underscores the resilience and transformative power of such platforms in shaping economies and fostering inclusivity.
As technology continues to play a pivotal role in economic development, the research findings demonstrate the vital role of GoTo's ecosystem in promoting economic resilience, empowering partners, and driving sustainable growth.