How a data centre boom is powering Thailand’s digital future

Driven by surging demand for high-performance computing to support the adoption of artificial intelligence (AI), data centre investments are growing rapidly around the world. The global data centre market is on track to more than double to USD585 billion by 2032.¹

In ASEAN, the growth of the digital economy is accelerating demand for advanced infrastructure, with data centres playing a critical role. Thailand is emerging as a key growth market for digital infrastructure: applications for digital technology projects, mainly data centres, reached USD19 billion in the first nine months of 2025, lifting overall investment applications to a record of USD42 billion.²

“Financings have been disbursed already, and there are many, many other deals and opportunities in the pipeline. It really is one of the bright spots in the FDI sector here in Thailand.” said Giorgio Gamba, CEO and Head of Banking at HSBC Thailand, speaking at the recent inaugural HSBC Data Centre Symposium in Thailand.

Thailand offers ample land, reliable utilities and high-quality developers and operators. Recent investments have been concentrated in the Eastern Economic Corridor, to the southeast of Bangkok.

On the demand side, Thailand’s digital economy ranks as the second largest in the ASEAN region, contributing around 6% of GDP, and is a significant driver of growth: e-commerce is growing at a rate of 10% a year.³

Thanasorn Jaidee, President of True Internet Data Center (True IDC) highlighted Thailand’s expertise in civil engineering and electrical engineering as part of the country’s appeal for developers looking to build efficient facilities and optimise energy and water consumption. “We have a very, very high potential of data centre growth in Thailand,” said Jaidee, speaking at the HSBC event.

Financing is a critical final step in the construction of these facilities, especially given the substantial capital requirements. The HSBC Data Centre Symposium brought together clients, policymakers and stakeholders from across the data centre ecosystem to discuss opportunities and challenges in the sector.

“Southeast Asia has seen a significant growth trajectory in terms of data centre demand, driven by an increasingly connected internet population, growing internet usage and digitisation across industries,” said Priesh Mistry, Director, Technology, Digital & Financial Services, Capital Markets and Advisory at HSBC. “Thailand is strategically located in Southeast Asia to capture this exciting future opportunity.”