Asia Business Channel

Thailand leads the world in internet banking service access

According to the recently released ‘Global Digital Report 2019’,Thailand is the world’s leader in mobile banking users. The report places Thailand at the top of the global rankings of internet banking service access, with 74% of the population able to access bank services through the internet, followed by Sweden (71%) and Turkey (68%). The global average was 41%.

Thailand also ranked second in the world in cryptocurrency ownership, with 9.9% of the country’s internet users owning some type cryptocurrency. South Africa was the number one country at 10.7%, while Indonesia was third at 9.5%. The global average was 5.5%.

The report found that there are 49 million mobile social media users in Thailand, 71% of total mobile users, and 51 million active internet social media users. The report also noted that there are 92 million mobile subscribers, equal to 133% penetration, and 55 million active mobile internet users.

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 globally in e-commerce, with 80% of internet users buying something online via the internet or their mobile devices, 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 average purchases of only $100 USD, compared with a global average $634 USD.

When it comes to using digital mobile wallets, Thailand ranked in fifth place 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 behavior in 2018, estimating that the value would shoot up to 3.2 trillion baht.

The number of Internet users in Thailand has grown more than 400% in the last decade. 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 increase 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.

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 ‘Global Digital Report 2019’ show that Thailand is well on its way to realizing its Thailand 4.0 initiatives; and the positive digital ranking will help ensure Thailand’s economic prosperity goals.

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