SUNDAY, February 25, 2024
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Digital Industry Sentiment index reaches 3 year high

Digital Industry Sentiment index reaches 3 year high

The Digital Industry Confidence Index survey for the first quarter of this year has improved over the fourth quarter of last year, and has reached its highest level in 12 months, the Digital Economy Promotion Agency (depa) announced today (May 31)

According to Dr. Natthapong Nimmannaphat, president and CEO of depa, this positive trend can be attributed to the overall economic recovery of the country, particularly the revitalisation of the tourism sector and foreign investments. However, on the flip side, the demand for digital talent is expected to increase due to digital transformation and business expansion, leading to workforce shortages and rising labour costs. To respond to these shortfalls, the private sector suggests that the government adjusts its strategies to promote the digital industry effectively, enabling entrepreneurs to access capital and attract skilled professionals from abroad to meet the growing demand for workers

The Sentiment Index survey covers five sub-industries: hardware and smart devices, software, digital services, digital content, and telecommunications. The index stands at 54.0, showing an improvement from the fourth quarter of 2022, which had a sentiment index of 49.0.

Almost every aspect registered an increase including business performance, production volume, employment, investment for operations, and operational costs. However, the only area where the sentiment index slightly decreased compared to the previous quarter is in terms of purchase orders.

In addition, the Digital Industry Sentiment index survey showed that 3 industries had index values higher than 50, hardware and smart device at 57.1, digital content at 59.3, and telecommunication at 58.6. The rest had index values below 50, with software at 49.8 and digital service at 48.9.

“Thai digital entrepreneurs hope that the government will provide a conducive environment to development by facilitating financial resource access, whether from a local or foreign source, providing them with an opportunity to participate in a large government project, attracting more digital talents from all over the world to fulfill rising demand, and promoting foreign trade.” Dr. Nuttapon said.

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