Thailand's digital economy is anticipated to grow by 19% in 2024, achieving a gross merchandise value (GMV) of $46 billion, according to a report by Google, Temasek, and Bain & Company.

This follows a 26% growth in 2023, with the digital economy reaching a GMV of $39 billion.

The report, 'e-Conomy SEA 2024 – Profits on the Rise, Harnessing SEA's Advantage,' highlights Thailand as the second-largest digital economy in Southeast Asia.

E-commerce continues to be a key driver, expected to grow by 19% to $26 billion in 2024, influenced by the increasing popularity of video commerce.

The sector is projected to hit $60 billion by 2030.

In addition, online travel services are set to expand by 32% to $10 billion in 2024, with relaxed visa regulations aiding tourism growth.

Investment in AI-ready data centers, amounting to $6 billion, is planned for the first half of 2024, enhancing Thailand's data infrastructure.

The digital payment growth is forecasted at 5%, reaching a GTV of $141 billion, with expectations to grow to $250-310 billion by 2030.

Emerging sectors like digital lending and digital wealth management show robust growth.

Digital lending is anticipated to grow by 28% to a loan book balance of $14 billion in 2024, aiming for $50-60 billion by 2030.

Digital wealth assets are projected to reach $17 billion, with a growth potential to $110 billion by 2030.

The Bangkok Metropolitan Region leads the AI demand, particularly in education, gaming, and marketing industries.

The report underscores that Southeast Asia's digital economy is maturing, yet profitability for key players continues to increase, driven by enhanced monetization strategies.