Is Thailand becoming an ageing population?The fertility rate in Thailand plays a huge role in determining the prospective age structure which is hinted towards a decline in infant population and an increase in the ageing population. The ageing population could exceed that of the infant population, driving the Thai society to cope with possible workforce issues and population management. Owing to an exponential decline in fertility rate, the Thai society has entered the territory of becoming an aged society, with an increasing share of Thai population older than 65 since 2015.
The Thai household financesIn terms of household situation, the number of Thai households put the country in ninth ranking, just after South Korea and Vietnam. The annual income among Thai households seemed to vary exceptionally. The drastic differences between the lower-class and upper-class household income in Thailand were the result of current local administrations and long-term economic processes that had not benefited the rural population as much as the urban population. Regarding household expenditure in Thailand, most of the spending went towards consumer goods, food and drinks, and home furniture.
The immigrant population in ThailandDespite the unpredictable migration trends, Thailand has shown increasing migration in the past two and a half decades due to job search. Thailand has always been a hub for migration in the past which eventually led to an inward flow of migration that ultimately coincided with a 10-year economic boom from 1987 to 1996. Due to migration and the influx of foreign direct investments, this has also led to differences in wages and remittances between Thailand and its neighboring countries.
Thailand faces lower fertility rates, coupled with a rise in the aging population. This triggers the governmental body to implement population control policies as well as handling prospective workforce issues through education and migration policies. This will likely offset potential adverse effects that the population structure may have on the society and the GDP growth in Thailand in the future.