Cybercrime and cyberattack attempts have steadily risen worldwide, most notably with the recent attack on cryptocurrency platform Binance, which resulted in a US$6.3 billion hack. The French regional bank Crédit Mutuel Arkéa reported that fraudulent transfers led to US$112 million in losses earlier this month.
Thailand’s government has ordered tighter cyber monitoring as global threats rise, while the Bank of Thailand has pressed commercial banks to strengthen their defenses.
National Security Council (NSC) Secretary-General Gen Chaipruak Doungprapat said Thailand is facing daily cyberattack threats against government agencies, banks, and public utilities, with AI being deployed to find weak points in systems. While responsible agencies can still safeguard systems, precautionary measures remain a priority, and they cannot remain complacent given the fast-shifting nature of threats.
There are some layers to national response. The National Cyber Security Agency (NCSA) and the Ministry of Digital Economy and Society (DES) monitor threats and implement preventive measures. In the case of a significant attack, the NSC would take over.
The question is, if Thailand’s economy is becoming a target in an invisible war, how much is actually at stake which industries are most vulnerable to threats?
Assoc Prof Dr Aat Pisanwanich, an expert on international and ASEAN economics at Rangsit University’s Faculty of Economics, has analyzed what the surge in cyberattacks means for the Thai economy. He links it to several factors. One is the expanding digital economy, as banking, payments and IT services have all moved online. Another is geopolitics, which has turned cyberattacks into a political and security weapon.
Thailand’s own data shows a steady climb. According to the National Cyber Security Agency (NCSA), cyber incidents rose from around 2,000 in 2023 to more than 3,000 in 2026 (January–September), averaging roughly 12 a day. In Aat’s words, cyber threats are “an ongoing risk embedded in the Thai economy.”
The exposure is significant. Thailand’s 10 key industries generated 12.74 trillion baht in value added in 2024, more than 60 percent of GDP.
Industries are separated into risk tiers.
- Very high risk: finance and banking; energy and utilities
- High risk: healthcare, telecoms, manufacturing, transport and logistics, and the public sector
- Moderate risk: trade and ecommerce, tourism and hospitality, and media and entertainment
Manufacturing is the largest, at approximately 3.86 trillion baht and 20.3 percent of total GDP, followed by trade and ecommerce at 2.54 trillion baht and 13.4 percent of GDP. If a threat is successful and the digital systems are impacted, then the damage could trickle down across production, jobs, and the entire supply chain.
However, the value of at-risk industries is not the same as actual losses, which would depend on the scale of the attack or the business itself.
Key Takeaway
Thailand’s geographical position is key in this regard. A recently published OECD report (2026) on reported cyber incidents across East Asia and ASEAN found that Thailand, Singapore, and the Philippines each accounted for 10 percent of attacks, making them countries with the largest share of reported incidents in the study.
Thailand’s exposure is concentrated in at least three key areas. These include the growth and adoption of digital financial transactions and online commerce; manufacturing and logistics tied to global supply chains; and infrastructure, energy, telecom, and healthcare.
Dr. Aaat recommends that Thailand move beyond protecting against cyber threats to a more holistic, proactive approach. Government agencies and businesses should be required to back up data regularly and plan to restore systems after an attack. At the same time, DDoS defenses in finance and digital services need upgrading, and critical infrastructure needs tighter security, from electricity, water and aviation to hospitals, food factories and logistics.
As digital tools make threats more sophisticated and more of the economy moves online, Thailand needs to protect its key sectors and economic drivers. That means moving beyond reactive measures to a long-term cyber defense plan.
