Trade Policy Office Reports Strong Thai Influencer Market Growth Worth 450 Billion Baht, Recommends Six Approaches to Develop Professional Talent

The Office of Trade and Investment Policy (OTIP) released a report titled 'Influencer Economy: From Content to Digital Commerce,' revealing that Thailand's influencer market was valued at 450 billion baht in 2024 with projected continuous annual growth of 15-20%. Currently, there are approximately 3 million influencers in Thailand, representing roughly one-third of the total digital advertising market value. A major concern is Thailand's 66% dependence on TikTok, prompting recommendations for the government to urgently establish standards, develop workforce skills, and expand market opportunities both domestically and internationally.

Nanthaphong Jiralesspong, Director of the Office of Trade and Investment Policy under the Ministry of Commerce, explained that OTIP recognizes the importance of influencers in shaping follower behavior and generating economic value, leading to the creation of this comprehensive report examining influencer economics and marketing at both global and Thai levels, along with policy recommendations from various countries and strategies to promote Thailand's influencer economy.

According to the report, an influencer is defined as a content creator who produces and distributes material on social media platforms, wielding influence over followers' attitudes, perceptions, and purchasing decisions. The influencer economy comprises five key components: influencers, online platforms, businesses/brands/entrepreneurs, revenue-generating tools and transactions, and followers/consumers.

The global influencer economy continues to show strong growth momentum. Market research firm Introspective Market Research reported that the global influencer economy was valued at 43.9 billion US dollars in 2023, with projections of averaging 33.9% annual growth through 2032, potentially reaching 607 billion US dollars by that year. Global influencer marketing alone was valued at 32.6 billion US dollars in 2024, with anticipated continued growth at an average rate of 51.90% annually through 2032. Currently, approximately 127 million social media users worldwide operate as influencers, with artificial intelligence development identified as a key factor enabling market expansion by reducing entry barriers and facilitating creative content production.

OTIP's study of influencer economy promotion strategies in three countries—China, the United States, and South Korea—found that influencer marketing values continue to expand significantly in each nation with large influencer populations. However, each country implements different policies and measures regarding the influencer economy, including digital economic promotion, online content regulation, consumer protection, and personal data privacy. China, for instance, has issued regulations governing its online content ecosystem requiring content creators, service users, and platforms to collectively assume responsibility for online content quality, while also implementing influencer control policies to prevent the spread of false information.