Thailand's digital economy booms amid surge in foreign investment
Accounts for nearly a quarter of national GDP
Thailand's digital economy has taken off, driven by increased foreign investment and government initiatives, Minister of Digital Economy and Society (DE) Prasert Jantararuangtong said on Friday.
This follows recent investments from tech giants such as Google, Microsoft and Datamax, which have collectively invested over 100 billion baht in AI and data centres.
The DE Ministry has released for the first time figures on Thailand's digital economy.
In 2024, the sector contributed 4.44 trillion baht to the economy, a 5.7% increase over the previous year, outpacing the overall GDP growth rate. The ministry has forecast continued growth, with an estimated 2.6% increase in 2025.
The digital economy now accounts for a substantial 23.9% of Thailand's GDP, also contributing to the country's export growth with sales of digital goods and services valued at 44.60 billion baht.
To further accelerate the growth of the digital economy, the ministry has outlined three key initiatives:
- Leveraging technology: The ministry will focus on adopting advanced technologies such as government cloud, big data, and Large Language Models to enhance efficiency and innovation.
- Strengthening cybersecurity: The ministry will prioritise cybersecurity measures to protect personal information, combat online crime, and establish robust call-centre services.
- Developing digital talent: The ministry will collaborate with public and private sector partners to develop a skilled digital workforce. The current demand for digital talent is estimated at 100,000 individuals per year, while the current supply is significantly lower at 30,000.
Wetang Phuengsap, acting secretary-general of the Digital Economy and Society Commission, highlighted the significant role of private investment in driving the digital economy. Private digital consumption grew by 5.6%, outpacing the overall consumption growth rate of 4.8%.
The National Assembly estimates the digital economy could contribute up to 30% of GDP by 2027, if current growth trends continue.
