In 2024, Thailand’s digital economy is showing robust growth, with the total transaction value (GMV) expected to reach $46 billion (approximately 1.6 trillion baht). This positions Thailand as the second largest digital economy in Southeast Asia, following Indonesia. Rapid advancements across sectors such as e-commerce, online travel, fintech, and artificial intelligence (AI) are gradually establishing Thailand as a key player in the regional digital economy landscape.
According to the report, e-commerce remains the backbone of Thailand’s digital economy, with annual transaction value projected to hit $26 billion, marking a 19% year-on-year increase. Logistics and delivery services are also growing steadily, with transaction volumes expected to exceed $4 billion, up 6% compared to the previous year. Notably, online travel is the fastest-growing sector, with transaction values anticipated to surpass $10 billion, representing a 32% growth rate. Online media—including video streaming, music services, advertising, and gaming—is expected to generate over $6 billion in transactions, growing at 7% annually.
Thailand’s digital financial services are also performing strongly. Digital payments are forecasted to reach $141 billion in total transaction value for 2024, reflecting a 5% increase year-over-year. Meanwhile, the digital lending sector is rapidly expanding, with outstanding loan balances projected to hit $14 billion, a 28% growth rate—the second fastest in Southeast Asia after Indonesia.
Furthermore, AI and data infrastructure development have made significant strides. Investments in data center construction reached $6 billion in the first half of 2024 alone, boosting data processing capacity by 550%, the highest growth rate in the region. This progress lays a solid foundation for Thailand’s AI and cloud service ecosystems.
A Google Thailand representative highlighted that government policies such as the “Digital Wallet” initiative and a four-year national digital strategy have created a favorable environment for global tech giants to invest in the country. Tax incentives and streamlined procedures aim to foster innovation, and Google expresses pride in contributing to Thailand’s digital economic growth.
With these positive drivers, Thailand is steadily transitioning from a traditional manufacturing and tourism-based economy to a new era dominated by digital and technology sectors, becoming one of the most promising digital transformation models in Southeast Asia.
