Technology in Thailand
Thailand’s technology sector is ideally positioned to make an impressive showing on the regional stage for years to come. Technology is already a strong economic player in Southeast Asia, with a large economy and high economic growth in manufacturing, agriculture, and engineering. Technology is your next sector to watch.
The current state of technology
Today, the technology sector in Thailand is firmly in a period of growth and expansion. Especially in the startup space, the main goal is to be known as a major tech influencer. So far, Thailand has not produced native unicorns similar to those found in Indonesia and Singapore. However, success should be close because one of the main goals of Thailand 4.0 is to produce at least 2-3 of these unicorns in the next few years.
Thai educational institutions focus on producing people with the right skills to advance food and agricultural technology in the near future. There are currently 24 universities in Thailand, offering up to 7,000 students annually the opportunity to enter the job market with experience in these emerging technology fields.
The National Innovation Agency, or NIA, is a government agency that supports and develops Thailand’s leading technology programs.
Hiring and talent prospects in Thailand
From a recruitment standpoint, the technology sector has extremely high competition for top talent, and skyrocketing salaries reflect this. Salaries for competitive talent are rising because everyone wants to hire from the same talent pool.
The high growth in tech, e-commerce, and digital start-ups has resulted in a sharp increase in demand for professionals at Michael Page Thailand. Companies need help finding the required talent, and start-ups compete for the people.
While this is great news for technology same professionals, it may pose a challenge for hiring companies and the market’s overall sustainability.
The current inflation rate in skilled technician salaries is astounding, demonstrating how much demand outnumbers the supply of skilled workers. Due to the grossly inflated salaries, it is almost certain that the best candidates not only have a free choice of position but can also ask for and receive higher salaries than in other markets.
What this means for technology companies and professionals
As a technology company, your biggest challenge is to focus on your talent and talent pool. As the demand for technology professionals increases, looking to the future becomes essential. This means conducting discussions, setting goals for current needs, and evaluating potential. Hiring needs: maintain a strong talent pool, and be open to hiring with flexibility; this is especially important for start-ups or other businesses hoping for rapid growth, as hiring needs can change rapidly in a matter of months.
Thailand is an excellent location for a tech professional. Tech professionals with the right skill sets can expect high salaries and multiple jobs offers because they are in high demand.
Any digital transformation skill sets are in high demand and will only grow in the future. Analytics, AI, data analysis, and digital project management professionals will have plenty of opportunities in Thailand in the coming years.
Growth and investment for tech in Thailand
Thailand’s tech industry is poised for impressive growth as government investment creates regional incentives for tech companies to do business in Thailand or continue to invest in tech. While a laid-back lifestyle and famous beaches still come first, when we think of Thailand, the tech industry is creating new and exciting opportunities for tech professionals and businesses worldwide.
