Thailand’s digital economy likely to account for 30% of GDP by 2030: DES minister


Thailand’s digital economy will grow and account for more than 20 per cent of the country’s GDP and reach even 30 per cent by 2030 or sooner, Digital Economy and Society Minister Chaiwut Thanakmanusorn estimates.

He said at the Powering Digital Thailand 2022 event that the kingdom had prepared a 5-year digital action plan for the economy and society running from 2018 to 2022.

Chaiwut said that over the past four years, Thailand’s digital infrastructure and data economy has made great progress in these key areas:

1. Development of high-performance digital infrastructure. The country's competitiveness ranking by IMD found that in technology Thailand has risen from 29th to 22nd place, especially in terms of mobile internet access, wired internet access and telecommunications infrastructure.

2. Driving the economy with digital technology in 2018. Thailand’s digital economy accounted for 17 per cent of GDP, then continued to expand. Over the past year, this economy has seen more than 10 per cent annual growth, which is 2.5 times the rate of domestic GDP growth.

When compared to last year, it was found that the rate of purchases made through electronic commerce channels and the number of users of government online channels has soared by more than 300 per cent, while the cloud market has grown approximately three times over the past year.

3. Creating a quality society with digital technology in the past four years.