The gig economy has transformed how we perceive work in Southeast Asia. From its humble beginnings as a way to earn extra income, the Covid pandemic has escalated gig work into a dynamic ecosystem encompassing diverse industries, from ride-hailing and food delivery to digital marketing and graphic design. In Singapore and across the region, this shift presents both opportunities and challenges for job-seekers navigating an increasingly fluid and unconventional employment landscape.
Southeast Asia’s young, tech-savvy population has embraced gig platforms, driving exponential growth in the sector. According to recent studies, the gig economy in Southeast Asia is experiencing significant growth, with the South East Asia Gig Economy market projected to witness a compound annual growth rate (CAGR) of 20.2% during the forecast period, reaching a market size of USD 8.9 billion in 2024.[1] In Singapore, the gig economy is also expanding, with the number of “own-account” workers—comprising freelancers and gig employees—rising to 228,200 in 2020, accounting for approximately 9.73% of the total resident labor force.[2]
This growth is fueled by several factors:
- Digital Connectivity: The proliferation of smartphones and affordable data plans has connected job-seekers with gig opportunities like never before.
- Economic Resilience: The gig economy provided a critical lifeline during the pandemic, allowing individuals to generate income amidst widespread job losses.
- Lifestyle Choices: Many workers, particularly millennials and Gen Z, value flexibility and autonomy, making gig work an attractive option.
For job-seekers, the gig economy offers several clear advantages:
- Flexibility
Gig work allows individuals to set their schedules, work from various locations, and balance personal commitments with professional responsibilities. This flexibility is especially appealing to caregivers, students, and those with unique personal priorities. - Skill Development
Many gig roles require transferrable skills such as communication, customer service, and time management. Freelance platforms provide an opportunity for job-seekers to curate a portfolio of work that showcases their expertise across various projects and industries. By taking on diverse assignments, gig workers not only refine their existing skills but also acquire new ones, such as adapting to different client needs, managing multiple projects simultaneously, and mastering niche tools or technologies specific to their field. - Income Diversification
Gig work provides an avenue to supplement income or explore entrepreneurial pursuits. For individuals looking to bridge gaps between full-time roles, gig work offers a financial cushion without long-term commitment.
Despite its benefits, the gig economy is not without its pitfalls, particularly for job-seekers relying on it as a primary source of income.
- Lack of Financial Stability
Gig workers often face inconsistent income streams, with earnings fluctuating based on demand, competition, and platform policies. This uncertainty makes financial planning difficult. - Limited Benefits
Traditional employment offers perks like healthcare, paid leave, and retirement contributions, which are typically absent in gig roles. This leaves gig workers vulnerable to economic shocks and unforeseen expenses. - Regulatory Gaps
In Southeast Asia, labor laws are still catching up with the gig economy’s rapid growth. Without clear legal protections, gig workers can face issues such as unfair termination, non-payment, or unsafe working conditions. However, Singapore is taking proactive steps to address these challenges through the introduction of the Platform Worker Act. This legislation, set to come into effect in 2025, is designed to provide platform workers, such as ride-hailing drivers and food delivery couriers, with enhanced protections while preserving the flexibility of gig work. - Skill Ceiling
While gig work fosters some skill development, it can also limit career progression for those stuck in repetitive or low-skill tasks. Without upskilling opportunities, gig workers may find it challenging to transition into full-time roles or higher-paying gigs.
For the gig economy to thrive sustainably, stakeholders—including governments, businesses, and gig platforms—must address its challenges. Governments across the region can ensure fair wages, social security options, and standardised contracts to protect gig workers’ rights. Meanwhile, businesses and platforms should invest in upskilling opportunities, offering training programs, certifications, and mentorship to help workers grow or transition into traditional roles.
Expanding benefits like insurance and wellness programs can enhance workers’ security and foster loyalty to platforms. Additionally, financial literacy education on budgeting, tax filing, and savings can empower gig workers to manage income instability effectively. These measures collectively can create a more equitable and resilient gig economy.
The gig economy in ASEAN is both a boon and a challenge for job-seekers. While it opens doors to flexibility, skill acquisition, and income diversification, it also requires careful navigation to overcome issues of stability, benefits, and regulation. At the same time, technology and innovative platforms like Jobstreet Express are enabling a more equitable gig economy by connecting workers with opportunities that align with their skills and availability. These platforms ensure that gig workers can easily access short-term roles tailored to their preferences, helping them navigate the fragmented nature of gig work. By simplifying job matching and fostering transparency, they are contributing to a more stable and reliable gig economy in Singapore and beyond.
For job-seekers, the key lies in leveraging the opportunities while staying informed about the challenges. For policymakers and businesses, collaboration is essential to creating an ecosystem where gig work is not just a stopgap solution but a viable and fulfilling career path.
The gig economy is here to stay, and with thoughtful innovation, it can become a cornerstone of Southeast Asia’s evolving workforce.
[1] Cognitive Market Research. South East Asia Gig Economy Market Report. Retrieved from https://www.cognitivemarketresearch.com/gig-economy-market-report.
[2] Blackbox Research. Inside the Singapore Gig Economy. Retrieved from https://carillon-porpoise-z69s.squarespace.com/s/Blackbox-Research-Whitepaper-Inside-the-Singapore-Gig-Economy.pdf.
About the author
Juairi Jaafar is the General Manager of Jobstreet Express, leading innovation in connecting businesses with verified non-executive talent across Southeast Asia. With over two decades of experience in logistics, media, and tech, he has held key roles at Bose Corporation, Roland Berger, and Shopee. A strong advocate for workforce development, he champions equitable employment access and leverages technology-driven solutions to address hiring challenges.
