Digital business estimated to reach B895bn this year

Thailand’s digital business still has great potential for growth, with the value of goods and services purchased via digital platforms (business-to-consumer) estimated to total 895 billion baht this year, up 17.9% year-on-year, according to a recent study.

Thanavath Phonvichai, president of the University of the Thai Chamber of Commerce, said there is still plenty of room for growth for local digital business if the government has clear policies to support and promote the sector.

“Foreign investment is increasing and within 5-10 years the digital economy is expected to boost the Thai economy,” he said.

“The digital economy is currently worth 2 trillion baht, accounting for 13% of GDP.”

According to Mr Thanavath, goods and services purchased through digital platforms in 2023 will…