Political parties can no longer evade household debt crisis facing Thailand

Household debt has become an alarming issue for the country, and as Thailand heads towards a general election this year, it’s a ticking bomb that needs the urgent attention of…

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Personal and credit card loans contribute to rise in Thailand’s household debt

Household debt for the third quarter of 2022 increased by 3.9%, to over 14.9 trillion baht for the first time in five quarters, largely due to the rise in personal…

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In this photo taken on January 16, 2022, people eat at roadside food stalls in the Chinatown area of Bangkok. (Photo by Lillian SUWANRUMPHA / AFP)

Thailand’s household debt forecast to jump to 95% of GDP this year

The average household debt in Thailand has increased 5.09% year on year, to 217,952.59 baht, the highest in 14 years, and this year the debt may reach 95% of the…

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In the third quarter of last year, household debt rose 4.2 percent year on year to Bt14.35 trillion, equivalent to 89.3 percent of gross domestic product (GDP), according to the National Economic and Social Development Council. (Photo by Towfiqu barbhuiya)

Thailand trapped in a household debt quagmire

Most Thai households have been bogged down by high debt even before COVID-19 struck in early 2020.  For many years, the average Thai worker has been struggling to make ends…

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A large majority of Thai people don’t have enough money to handle an emergency situation for longer than three months, especially during such a crisis as the pandemic.

Very few Thais have emergency funds to handle an unexpected situation: study

An emergency fund can be a lifeline when we are faced with a worst-case scenario. It can be very helpful for unexpected life events, such as loss of employment or…

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As Thailand reopens, signs of economic recovery are visible

The tourism industry is showing initial signs of recovery, but Thailand’s small businesses and households are still struggling to survive as uncertainty about COVID-19 gnaws at the local and global…

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City of Pataya during the lockdown in September 2021. (Photo by Thai PBS)

Human resources and inequality, main issues needing serious attention

Thailand needs to develop its human resources, improve the quality of its education, and get serious about addressing the inequality gap, says economist, Dr. Somjai Phagaphasvivat. He said that dealing…

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(Photo by Tim Mossholder)

Thailand’s economy staring at recession at year-end

The Thai economy rebounded in the second quarter, growing by 7.5 percent year on year, after a 12.1 percent contraction during April-June last year. The high economic growth in the second…

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Photo created by lifeforstock – www.freepik.com

Thailand’s household debt in Q1 at 90.5% of GDP and increasing – BoT

Thailand’s household debt, for the first quarter of this year, soared to 14.1 trillion baht, accounting for 90.5% of gross domestic product (GDP), and is increasing due to a fall…

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Thailand’s household debt in Q1 2021 is highest in 18 years – Kasikorn Research

Thailand’s household debt in the first quarter of 2021 increased to 14.13 trillion baht, representing 90.5% of gross domestic product (GDP), compared to 89.4% of GDP for the fourth quarter…

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NESDB says retiree needs 2.8 – 4 million baht savings to survive for the rest of life

People in Thailand need retirement savings of between 2.8 and 4 million baht to survive for the rest of their lives, according to the National Economic and Social Development Board…

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Thai workers look at job advertisements displayed at the Labour Ministry in Bangkok.(Photo by PORNCHAI KITTIWONGSAKUL / AFP)

Household debt in Thailand highest in 12 years

COVID-19 can be blamed for pushing Thai household debt to its highest level in 12 years, around 480,000 baht per household, said The University of the Thai Chamber of Commerce…

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