Jakarta: Mr. Bobby Hidayat, president, feels conflicted as he is just months away from earning his bachelor’s degree in computer technology.
The 22-year-old is relieved that his single mother, who had to work hard to pay for his education, would no longer have to worry about him. However, Mr. Bobby is also concerned about his post-graduation life.
He’ll face a declining job market as foreign investment in Indonesia’s technology sector plummeted following the COVID-19 pandemic-related global economic downturn and the impending election-related political unrest.
The Jakarta Globe reports that in 2021, the nation’s digital sector received investments totaling about US$9.5 billion. The amount fell to less than US$1.9 billion two years later.
Numerous businesses have been reducing staff, including some of the most well-known names in Indonesia’s IT industry, like the multi-sector super-app GoTo, the payment gateway Xendit, and the investing platform Ajaib.
Mr. Bobby has often questioned the options available to a novice about graduating from a mid-tier Jakarta university. This has given him many sleepless nights.
