<![CDATA[The integration of the digital economy and macroeconomic factors is increasingly influencing economic growth in the ASEAN-5 region, particularly in Indonesia, Malaysia, Singapore, the Philippines, and Thailand. This phenomenon is worth studying given the region’s dependence on foreign investment, exchange rate stability, and internet adoption. This study aims to analyze the effects of FDI, exchange rates, inflation, and the number of internet users on GDP for the period 2014–2024. A quantitative approach using panel data regression with the Common Effect Model (CEM) was employed, utilizing Stata 14. The results indicate that FDI, exchange rates, and internet users have a positive and significant impact on GDP, while inflation has a negative but insignificant impact. These findings suggest that foreign investment, exchange rate stability, and digital economy adoption play a crucial role in driving regional economic growth, whereas inflationary pressures still need to be controlled.]]>
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