Thailand’s digital games industry has recorded impressive growth since its debut in 2002. Games revenue is set to grow at 50 percent a year to USD 485 million in 2018, according to market researcher Newzoo – boosted by soaring web and smartphone usage, with faster mobile data speed.
Thailand Ministry of Commerce officials and senior executives from leading Thai gaming organizations are visiting Vancouver for the first time in early March to connect with the British Columbia’s (BC) digital games community, and mutually explore global partnership opportunities.
In the ‘Digital Thailand’ development strategy, the government has crafted an ambitious plan to build the country’s digital economy as a new growth engine, and shape its digital future. “A USD 570 million venture fund has been earmarked to boost local start-up tech,” says Nisabudh Virabutr, Director of Thai Trade Centre – Vancouver.
With Thailand’s massive digital hub slated to open in mid-2018, the government is positioning the country as a premier global tech center, and the gateway to Southeast Asia’s dynamic games market. Its nascent games industry is supported by a progressively diverse educational infrastructure, governmental assistance, and projects to spark innovation.
Thailand’s unsaturated tech ecosystem makes ASEAN’s second largest economy – a desirable hub for apps and mobile games development. The country is one of the fastest growing revenue generators for apps and games in the ASEAN region. Mobile phone subscribers, predominantly smartphone users are one of the key contributors to the strong growth. The National Statistical Office of Thailand (January 2017 data) indicated that more than 90% of internet users access the web via smartphone.
The country is primed to be a leader in the ASEAN digital games market – which is expected to exceed USD3 billion in games revenue (PC online and mobile) by 2020, according to research firm Niko Partners. The ASEAN bloc is one of the world’s fastest developing regions with over 600 million consumers, and a combined GDP exceeding USD 2.5 trillion.
SOURCE: Thai Trade Centre-Vancouver