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Thailand's Digital Economy to Explode by 2025

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Thailand’s digital economy is projected to explode by 2025, according to a 2016 study conducted by Google and Temasek, a Singaporean investment firm. 

 

The study outlines some reasons why the digital economies of Thailand and other Southeast Asian countries could be sitting on a huge powder keg. Thailand’s bricks and mortar shopping culture thrives stronger than ever with new megamalls like ICONSIAM, which opened last year.

 

The strength of the mall culture demonstrates how little ecommerce has impacted the Kingdom so far. But that’s not to say that ecommerce will never flourish in Thailand; it’s more that the conditions haven’t quite come together yet. The study claims that the various conditions needed for the ecommerce explosion are arriving faster than ever. We’ve summarised some of the reasons given below.

 

Mobile internet growth. The study claims that over a decade ago, four in every five Southeast Asians had no internet connectivity. Today SEA’s smartphone penetration and engagement are amongst the highest in the world. Thailand also has some of the most engaged Facebook users in the world, with 46 million users out of a population of 64 million recorded last year.

 

2019 saw Southeast Asia’s digital economy hit a record $100 billion. Growing 300% since 2015, ecommerce apps like Shoppee and ride hailing apps like Grab have blown previous estimates out of the water. The boom is projected to explode even further, tripling again to $300 billion by 2025.

 

Digital payment platforms are hitting critical mass. The study predicts that almost half of all money spent in Southeast Asia will be spent via payment apps, following in China’s footsteps. Southeast Asia has a large unbanked population, estimated to be 30% in Thailand, who are in need of more accessible digital payment solutions like China’s immensely popular Alipay.

 

The only thing the study indicates that could hold Thailand back from this huge expected digital growth is manpower. Whilst Thailand offers talented developers at affordable salaries there aren’t enough of them and the demand is going through the roof. If Thailand offered a government-backed incentive for people to learn coding it could be the catalyst for the country’s digital transformation.

 

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Financial economy will explode 5 years before that to a recession.

  • Haha 1

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On 11/11/2019 at 1:13 PM, ThaivisaSales said:

Thailand’s digital economy is projected to explode by 2025, according to a 2016 study conducted by Google and Temasek, a Singaporean investment firm. 

You're a great dreamer, you have to go around with your eyes closed to believe everything you've written in your advertising!
What I see is that Thailand is making giant leaps backwards, the right article would be: "Thailand's digital economy is projected to implode"!

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On 11/11/2019 at 1:13 PM, ThaivisaSales said:

Southeast Asia has a large unbanked population, estimated to be 30% in Thailand,

Does this seem high to others? I would have thought a lot lower in Thailand but maybe that's because there always seem to be huge queues in the bank when I go there.......:unsure:

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So... Thailand is on the verge of a 21st century economy... now if they can drag immigration laws and practices along as well, Thailand will be fun again.

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It seems countries are either heading to or are cashless societies.

Believe in Sweden, cannot get Or use Cash anywhere, no ATM's, No cash in Banks, No cash in shops Etc..

 

People are being forced to use Cards & Digital transactions, NO Alternatives!! 

 

That seems to be the way the Globe is heading..... Like It or Lump It!! 

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On 11/11/2019 at 1:13 PM, ThaivisaSales said:

explode by 2025

That's a long fuse!

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Remove the word "digital" from the title and it takes a whole different, more accurate, meaning. 

 

And disintegrate would be more appropriate than explode. 

 

The economy is already slowing down noticeably... it doesn't make the official news, but it makes the rounds in the villages, where laid off family members (from factories in Bangkok or Chonburi) are coming back in droves. 

 

The spending is also grinding to a halt... the best selling food in farmcountry is eggs, which is a sure sign that the money is very tight... 

 

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At the same time they make it really difficult for digital nomads. Even Iglu and similar agency companies are having great difficulties with the immigration new rules. Those rules make no sense anyway. Less money into Thailand, for sure. 

Edited by Timwin

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13 minutes ago, Timwin said:

At the same time they make it really difficult for digital nomads. Even Iglu and similar agency companies are having great difficulties with the immigration new rules. Those rules make no sense anyway. Less money into Thailand, for sure. 

How do they make it difficult for digital nomads? Everything has always been super easy in my experience. I’m a software engineer and work full-time for both Facebook and Netflix Silicon Valley HQ from Thailand. Because I can. I think if you can’t figure out how to get a visa in Thailand as a digital nomad, then you don’t deserve to be a digital nomad. Survival of the fittest.

Edited by Duck J Butters

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38 minutes ago, Duck J Butters said:

How do they make it difficult for digital nomads? Everything has always been super easy in my experience. I’m a software engineer and work full-time for both Facebook and Netflix Silicon Valley HQ from Thailand. Because I can. I think if you can’t figure out how to get a visa in Thailand as a digital nomad, then you don’t deserve to be a digital nomad. Survival of the fittest.

Oh, "survival of the fittest!". Tells all about you...

Edited by Timwin

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On 11/12/2019 at 2:25 PM, 30la said:

You're a great dreamer, you have to go around with your eyes closed to believe everything you've written in your advertising!
What I see is that Thailand is making giant leaps backwards, the right article would be: "Thailand's digital economy is projected to implode"!

While it is true there are signs of the economy slowing down, every economy has to go both up and down eventually. 

 

Although a recession may be far fetched, 2025 is a reasonable timeline for an economy to fully "recover" and start growing rapidly.

 

Don't want to derail the thread, but the supposed condominium crash has been a hot topic lately, do you think that this is why it would 'implode'?

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