According to a recent report, Thailand was noted to be the world’s leader in mobile banking users. The region was second for ownership of cryptocurrency, and third in mobile commerce, according to the Global Digital Report 2019. The report was conducted by a major social media management platform and a global agency.
The Global Digital Report 2019 found there are 49 million mobile social media users in Thailand, or 71% penetration of mobile users, and 51 million active internet social media users.
There are 92 million mobile subscribers, 133% penetration, and 55 million active mobile internet users.
The report put Thailand top in the global rankings of internet banking service access, at 74% of the population, followed by Sweden (71%) and Turkey (68%). The global average was 41%.
Thailand ranked second with 9.9% of internet users owning cryptocurrency, behind only South Africa at 10.7%, while Indonesia was third at 9.5%. The global average was 5.5%.
In terms of mobile commerce, Thailand ranked third with 71% of internet users buying something online via their mobile phone, behind only Indonesia (76%) and China (74%). The worldwide average was 55%.
Thailand ranked fifth in e-commerce with 80% of internet users who bought something online via any device, followed by Indonesia (86%), China (82%), Germany (81%), the UK (81%) and worldwide (75%).
In terms of e-commerce average spending per user (ARPU), Thailand reported a meagre US$100, compared with a global average $634.
Thailand ranked fifth users with a mobile wallet, at 41%, following South Korea (55%), Denmark (53%), Kenya (49%) and China (48%). The worldwide average is 37%.
For time spent on social media per day, Thailand ranked eighth at 3.11 hours, with the top three the Philippines (4.12), Brazil (3.34) and Colombia (3.31), while the global average is 2.16 hours.
Thailand was eighth in social media penetration, at 74%, behind the UAE (99%), Taiwan (89%) and South Korea (85%), while the worldwide average is 45%.
The global survey based on users aged 16-64 during the second and third quarters found the top five most active social media and messenger platforms for internet users are the world’s largest social media platform (93%), followed by the world’s largest video-sharing platform (91%).
The country’s average daily time spent on the internet via any device is 9.11 hours, with 3.44 hours watching TV (broadcast, streaming and video-on-demand) and 1.30 hours listening to streaming music.
The findings of this report are in line with findings from The Ministry of Digital Economy and Society (DE).
Earlier this year, OpenGov Asia reported that the DE had revealed that Thai e-commerce grew the most in ASEAN with changes in consumer behaviour in 2018, estimating that the value would shoot up to 3.2 trillion baht.
The number of Internet users in Thailand has grown 4 times in the last decade. Moreover, many Thai-International platforms have grown to support the number of online shoppers, along with increasing confidence in e-Payment and faster logistics and delivery services.
Trends show that growth will continue with the arrival of 5G, creating new innovations that will lift up the quality of life for consumers.
This trend is promising for the region’s Thailand 4.0 goals, part of the Government’s ongoing digital transformation efforts that are attracting applicants from across the world.
The first of Thailand 4.0’s objectives is to ensure Economic Prosperity.
Under this goal, the Government aims to create a value-based economy that is driven by innovation, technology and creativity. The model aims to increase Research and Development expenditure to 4% of GDP, increase economic growth rate to full capacity rate of 5-6% within 5 years, and increase national income per capita from 5,470 USD in 2014 to 15,000 USD by 2032.
The findings of the aforementioned report show that Thailand is well on its way to realising its Thailand 4.0 initiatives; the positive digital ranking will help ensure Thailand’s economic prosperity goals.