Digital economy to contribute 30% to Thailand’s GDP by 2030

Thailand’s digital economy is mainly driven by e-commerce and it is expected to reach USD35 billion in 2025

By 2030, Thailand’s digital transformation will have unlocked an annual economic value of (USD65 billion). Thanapol Tontinikorn/Shutterstock

In 2021, Thailand’s digital businesses had a gross merchandise value (GMV) of USD30 billion. This number is set to reach USD57 billion in 2025, behind Indonesia’s USD146 billion, reported ASEAN Briefing.

Thailand’s digital economy is mainly driven by e-commerce. It had a GMV of USD21 billion last year and is expected to reach USD35 billion in 2025.

As technology and customer behavior continue to evolve, organisations will need digital transformation strategies to stay ahead of the competition, according to the Bangkok Post.

Nigel Vaz, CEO of Publicis Sapient, says, “Thailand has enormous business growth potential across various industries. Digital transformation is key towards unlocking this potential by helping businesses sustain relevance through adapting to change and capturing value through digital.”

“This enables organisations to re-imagine their business operations for a digital-first world and build the ability to develop innovative products, services, and experiences that are hard to duplicate in a new world of business, in alignment with ever-changing technology and customer behaviours,” he added.

In a report by OpenGov Asia in September, Chaiwut Thanakmanusorn, Minister of Digital Economy and Society (DES), met with Armida Salsiah Alisjahbana, Undersecretary General of the United Nations and Executive Secretary of the UN Economic and Social Commission for Asia and the Pacific (UNESCAP), and discussed the possibility of establishing a partnership between Thailand and UNESCAP in the areas of information and communication technology (ICT) and digital technology.

This event aims to support research in artificial intelligence and industry development, particularly in robotics and automation, as well as build a global network of educational institutions and research organizations interested in robotics-related knowledge exchange.

More: Thailand sets forth 2023 digital economy roadmap; robotics to contribute to the nation’s economy

Every business and organization has the opportunity to develop and unlock its potential through digital transformation.

In 2030, it is expected that the digital economy will contribute 30 percent to the nation’s GDP.

At that point, Thailand’s digital transformation will have unlocked an annual economic value of USD65 billion. Moreover, approximately 65 percent of Thailand’s digital opportunities will have driven by applications that help businesses mitigate the economic impact of the pandemic.

The Property Report editors wrote this article. For more information, email: [email protected].