Whether you realize it or not, it has been over 10 years since Grab was launched. Initially in 2012 as a taxi booking application, then its services began to be added to the ride-hailing application, until it expanded its wings to various other services such as goods and food delivery, banking, or even mapping and even retail ownership through Jaya Grocer, the growth of Grab and their brand over the past 10 years is no stranger not only among locals, but also in the Southeast Asian region.
The latest report from EconWorks, in Malaysia alone, Grab services in 2023 are estimated to be worth RM 9.9 billion, which is around 0.5% of Malaysia's Gross Domestic Product (GDP). 88% of this amount is from business entrepreneurs and delivery partners that exist in the Grab ecosystem.
In fact, around 277,237 job opportunities have been created, and generated around RM 3.7 billion in household income which in turn helps the country's economic growth. In this figure, it can be said that one in 64 individuals in Malaysia earns income from Grab, whether directly or indirectly. However, the above statistics do not include other services such as GrabPay, GX Bank and Jaya Grocer. This EconWorks study also only covers mobility and delivery.
In other statistics, the GrabCar service was booked over 200 million reservations in 2023. The GrabFood service also saw more than 140 million food orders successfully delivered in the same year. Interestingly, for GrabExpress and GrabMart, both are also popularly used by locals with more than 6 million GrabExpress deliveries and almost 7 million grocery purchases through GrabMart being made in 2023.
All of this will also indirectly have a positive impact on other industries, especially the logistics industry, food-related industries, and the retail industry. It seems that small restaurant operators who may not have a delivery system will use Grab for food delivery purposes. The logistics and transportation industry is also growing due to the demand for logistics, including in the maintenance of vehicles used for delivery purposes.
During its 12 years of operation in Malaysia, it is clear that Grab has brought economic progress beyond what it was originally created to be, namely a taxi booking application. With a variety of services offered either directly or through subsidiaries and other entities.