Digital marketplaces need to adapt to local payment methods (such as cash on delivery) to succeed.Download the Full Index
Marketplace Expansion Index Rank
Up 3 Spots from 2018 Index Rank of #34
- Ranked #1 globally in percentage of the population engaged in freelancing work
- Recent banking regulations ease the Know Your Customer (KYC) process
- Tourists bring with them knowledge and wide acceptance of global marketplaces
- Legal grey areas for sharing economy business models
- Cash on delivery still remains a popular method of transaction
- Second worst payments infrastructure
Facts You Can't Forget
On Vacation. Thailand is poised to see a record tourism boom in 2019 with an estimated 40 million foreign visitors and projected revenue from foreign tourists on target to hit over $60 billion in 2019.
Movin’ on Up. According to the World Bank, Thailand ranked 26th for ease of doing business in 2018, up from 46th in 2017, due to government-driven regulatory reforms and ‘doing business’ initiatives, including the development of the Doing Business portal to be launched in 2019.
Untapped Potential. Thailand's ecommerce market is fast-growing and remains a promising untapped market given its population of 68 million and high mobile, social media, and Internet penetration rates.
For our full explanation, visit our methodology page
The fundamentals of any society and enterprise, including: payment infrastructure, ease of doing business, and Logistics Performance Index.
You’re only as good as your people. Factors in this category include: levels of English proficiency and participation in freelance employment.
This category assessed ecommerce opportunity size, retail ecommerce growth and ecommerce as a percentage of retail transactions.
The fate of foreign entrants, based on the volume of cross-border transactions and if a global marketplace dominates that geography.
"In Thailand, PromptPay’s real-time payment infrastructure is allowing millions of Thais faster access to money, while providing the basis for banks and other third-party providers to launch new financial products and services. Many of these products focus on serving individuals and enterprises that may have been previously financially excluded."
"...the increasing acceptance of the hospitality platform among Thais as an opportunity to earn extra income and welcome guests from around the world."
"An open digital governance system, one of the main initiatives in Thailand's digital transformation, entails three core concepts—paperless, cashless, and e-payment—that are scheduled to begin implementation by the end of this year."