Bangkok, 28th August 2018 – The Bank of Thailand (BOT) has forecast that Thailand will become an aged society in 2025, when 14 percent of the country’s population are over 65 years old.
An economist at the BOT, Nakanang Kulnartsiri, said on Tuesday (Aug 28th) that the central bank has predicted that Thailand’s aging demography will dampen the country’s annual gross domestic product (GDP) growth by 1.5 percent over the next 10 years.
She said countries entering into a hyper-aged society are mostly identified as developed economies with higher income per capita at above 12,500 US dollars per year. Meanwhile, Thailand’s per capita income stands at 5,720 US dollars a year, meaning Thai people are aging faster than they build wealth.
She said Thai people are highly adaptable and their experience would allow them to capitalize on the elderly market and steer the country’s economy forward.
 |
 |
