Thailand is the second largest B2C e-commerce market in Southeast Asia in terms of sales and is projected to maintain this rank through 2025 due to a strong double-digit growth rate, according to a recent report.
The development of online retailing is spurred by growing internet penetration and projects aimed at improving payment and delivery infrastructure.
The report titled ‘Thailand B2C E-Commerce Market 2017’ published by yStats.com says that Thailand is the second largest economy in Southeast Asia, behind Indonesia, and also ranks second in B2C e-commerce sales.
Although online shopper penetration is still in single-digits, a strong B2C e-commerce sales growth rate is expected in the coming years, allowing Thailand to maintain its position as the runner up in regional online retail sales.
Mobile and social commerce are the two most important e-commerce market trends in Thailand. Smartphones have become the gateway to internet connectivity, reaching nearly the same penetration rate as internet and leading among devices utilised to go online.
Thailand is the regional leader in share of online shoppers making purchases via mobile.
M-commerce sales are projected to approach a 50 per cent share of total online spending within the next several years, yStats.com’s report reveals.
Furthermore, social media has emerged as the most important platform for online sellers in Thailand. With more than one-half of online shoppers making orders through social networks, thousands of e-commerce sellers maintain accounts on popular social media such as Facebook, Instagram and Line to transact with their customers.
Lazada, an e-commerce retailer and marketplace controlled by Alibaba Group, is the leading online shopping platform in Thailand, attracting three times more visits to its Thai website than the nearest two competitors combined.
Other players attempt to challenge Lazada’s leadership by increasing investments into their e-commerce operations.
The Central Group acquired online clothing retailer Zalora and planned expansion of omnichannel and logistics capabilities for 2017.
Furthermore, South Korea-based 11street is a fast growing market player: since its launch in Thailand December 2016, the company has already registered thousands of sellers and more than a hundred thousand buyers on its platform by early 2017, according to information cited by yStats.com. (KD)
Will Covid-19 unleash a new generation of digital nomads?
– Covid-19 has facilitated the widespread adoption of remote working
– Despite travel restrictions, countries are seeking to attract digital nomads
– Dubai and Mexico have emerged as key destinations for foreign remote workers
– As travel resumes, many anticipate a new wave of roaming digital nomads
With Covid-19 facilitating the widespread adoption of remote working practices, some emerging markets are seeking to attract digital nomads through a series of incentives and special visas.
Despite border closures and travel restrictions resulting from the virus, various countries are stepping up efforts to incentivise the movement of so-called digital nomads – people who work remotely and relocate relatively freely.
For example, in October the Dubai government launched its virtual working programme, an initiative that gives foreign professionals the opportunity to move to the emirate and continue to work remotely in their current jobs.
The one-year programme, launched after Dubai reopened its borders to international tourists in July last year, is designed is attract professionals, entrepreneurs and those working in start-ups.
Given its strong ICT infrastructure and healthy start-up scene, Dubai has been seen as an increasingly attractive option for digital nomads in recent years, with officials marketing the emirate as a place where people can live and work by the beach.
As a further incentive, in January officials began offering free vaccines to those on the programme.
Covid-19 and medical tourism: is a recovery on the cards?
– Before the pandemic, medical tourism was a major growth area
– Dubai was a world leader among emerging market destinations
– Covid-19 travel bans and lockdowns seriously dented growth
– Increased emphasis on safety has enabled a gradual re-opening
Prior to the outbreak of coronavirus, medical tourism was a significant growth industry in many emerging economies. While the pandemic represented a major setback for the segment, there are signs that it may be recovering in several markets.
The last decade saw a boom in medical tourism. By 2018 the global market was generating $58.6bn annually and in 2019 it was forecast to grow at a compound annual growth rate of 11.7% – reaching more than $142.2bn by 2026.
The segment’s growth was largely spurred by increased awareness – particularly among citizens of higher-income countries – of the quality and relatively affordable health care options on offer in many emerging economies. The appeal was further enhanced by the possibility of combining medical treatment with a holiday in an attractive location.
Asia has been a popular region for medical tourism for some time. In Thailand, for example, guided by the Ministry of Public Health’s 2016-25 strategic plan entitled ‘Thailand: A Hub of Wellness and Medical Services’, stakeholders have been working to cement the country’s position as a regional leader in medical tourism.
Elsewhere in Asia, in 2017 the Indian government began offering a medical visa aimed at bringing in more foreign patients.
Governments in other regions similarly moved to capitalise on this growing segment. In 2015, for example, Turkish Airlines announced a 50% discount on flights for people coming to Turkey for medical treatment.
Thailand’s Stock Exchange (SET) welcomes cosmetic and skincare marketer KISS
KISS develops, contract manufactures and markets beauty and healthcare related products in both local and overseas markets
BANGKOK, February 18, 2021 – The Stock Exchange of Thailand (SET) will list Rojukiss International PLC, a leading developer, contract manufacturer, and marketer of skincare, color cosmetic, food supplement products, on February 19 under the ticker symbol “KISS”.(more…)
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