Digital transformation in Thailand to generate 795 billion USD by 2030
Digital transformation could generate up to 2.5 trillion THB (795 billion USD) in economic value for Thailand, according to the Bangkok Post, which cited a report published by Google.
Goods are loaded at Bangkok Port, Thailand. (Photo: VNA)
Bangkok (VNA) – Digital transformation could generate up to 2.5trillion THB (795 billion USD) in economic value for Thailand, according to the Bangkok Post, which cited areport published by Google.
The report, entitled"Unlocking Thailand's Digital Potential", estimated that 65 percentof Thailand's digital opportunities, valued at 1.6 trillion THB, are likely tocome from the use of technology that helps businesses mitigate the impact of thepandemic.
Genevieve Lim, principal ofconsulting firm AlphaBeta, said 40 digital tech applications across 10industrial sectors would be a boon for the country's economic opportunity.
They include data analytics,big data, cloud computing, additive manufacturing, Internet of Things-enabledinventory management, smart grids and predictive technology.
Bangkok and its vicinitiesare expected to catch 40 percent of the digital opportunity by 2030, suggestinga geographic digital divide that is important to bridge, Lim told the BangkokPost.
The report also stated that the digital adoption rate of businessesin Thailand is still low due to a shortage of digital skills, technologyknowledge and graduates in technology as well as the high cost of investing intechnology infrastructure such as 5G networks.
It also identified threepillars of action for Thailand that lead to fully seizing digital opportunities. They cover lowering barriers to digital adoption, enhancingdigital skills training and education, and developing a conducive environmentfor digital trade. Digital talent gap and slowadoption of digital solutions by businesses are the two main barriers todigital transformation, the report said.
ဣ According to the latest Southeast Asia Digital Economy Report released byGoogle, Temasek and Bain, the region’s digital economy is expected to reach 1trillion USD by 2030. The digital economy is expected to reach 1trillion THB (30 billion USD) in 2021, representing a growth rate of 51percent compared to the previous year./.
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Goods are loaded at Bangkok Port, Thailand. (Photo: VNA) 
