The Next Digital Behemoth: Thailand’s 4.0 Revolution

BANGKOK, July 30, 2021 /PRNewswire/ — Thailand’s Ministry of Foreign Affairs says that the country is on the verge of turning into an Asian digital behemoth. In June 2021, Thailand’s start up scene celebrated its first unicorn with Flash Group, a Thai e-commerce logistics and delivery services provider Flash Express, after the company’s Series D+ and E funding raised more than USD 150 million, shooting up its total value to more than USD 1 billion. Thailand also boasts other “half-unicorns” that are expected to join the coveted ranking soon. In short, the Thai economy looks set to be transformed into a cutting-edge economic powerhouse through digitalisation.

Digital industry as a prime mover of the economy

Thailand hosts an enabling ecosystem under which startups can thrive. In 2020, Thailand’s digital industry grew by more than ten per cent at USD 20.6 billion. Digital…