Thailand
Thailand: Disruption to drive digital growth in 2018
The arrival of disruptive technology is expected to help boost the value of the digital economy, forecast to account for 19.4% of Thailand’s GDP next year, according to the latest University of Thai Chamber of Commerce (UTCC) survey.
But the rise of disruptive technology is also expected to bring about large societal and economic changes, endangering some professions and putting others out of business, the survey said.
Thanavath Phonvichai, vice-president for research, said the study had resulted in over a dozen sunrise careers that will be in strong demand next year, while another ten on the sunset end of the spectrum will be forced to adapt to the fast-changing world.
Doctor ranked as the top sunrise career, particularly surgeons and plastic surgeons, as Thailand is becoming an ageing society that needs more high quality medical services. The second-ranked sunrise career track covers programmers software producers and data analysts. Net idol, reviewer and marketing guru collectively took the third spot, as people spend more time looking at product and service reviews online before making related purchases.
Financier and IT analyst tied for fourth, while food scientist and graphic designer held the fifth spot.
No.6 was tourism-related business, as the Thai tourism industry continues to boast robust growth rates, while start up and e-commerce entrepreneur ranked number seven.
The number eight spot was shared by those working in the entertainment industry, especially actors, and architects. Computer instructors and logistics professionals ranked ninth while accountants came in at 10th.
By contrast, the 10 sunset careers were: low-skilled labourer; trader and middleman; cloth dyer; librarian; postman; in-house salesperson; low-skilled dressmaker; farmer; lecturer; housekeeper; and outdoor reporter.
With the government’s flagship Thailand 4.0 scheme, people are set to have greater access to the internet and on-line based trade.
The UTCC has forecast the total value of the country’s digital economy will reach 3.15 trillion baht in 2018, up 24.6% year-on-year. That would make the value of the digital economy account for 19.4% of GDP next year.
By contrast, that figure was 10.2% in 2013, he said.
“Another support factor that will help drive demand and value of the digital economy is the policy to promote the Eastern Economic Corridor,” said Mr Thanavath.
He said Thailand’s digital economy transition has been a smooth one, with increased access to the internet and on-line trade forecast to drive the country’s e-commerce industry to reach 200-300 billion baht over the next few years.
Social networks are also expected to play a major role in reshaping not only society, but the economy, as more people start doing business via these platforms, said Mr Thanavath.
“The massive investment in infrastructure will also help boost people’s spending power, both on- and offline,” he said.
Source: https://www.bangkokpost.com/business/news/1382099/disruption-to-drive-digital-growth-in-2018