According to a recent e-Conomy report in SEA, Thailand’s digital economy is expected to be worth a staggering $30 billion (984 billion baht). The biggest contribution of $21 billion comes directly from e-commerce. The study also increased its forecast for Thailand’s online economy, after previously forecasting it will hit $53 billion by 2025, it is now predicting it will go as high as $57 billion by 2025.
The report concludes that the sizeable drop in travel is being compensated by a surge in the e-commerce industry, with the report mentioning that 9 million new online users were added during 2020. Thailand also has the second-highest consumption penetration in the region at a massive 90%.
The study was conducted by management consulting company, Bain & Company, and by Singaporean holding company, Temasek.