Thailand 2020: Principles for Marketing Success
This article is part of a series of articles on marketing success in Thailand. Read more.
From aging to aged
It may surprise many but as we write this article and looking toward the next two to three years, Thailand is steadily shifting from an Aging Society to an Aged Society.
The term Aging Society refers to a society that has a population over 60 years of age equal to or more than 10 percent of the total population or a population over 65 equal to or more than seven percent of the population, while the Aged Society refers to the society that has a population over 60 years of age equal to or more than 20 percent of the total population or a population over 65 equal to or more than 14 percent of the population.
According to the United Nations report World Population Ageing, 2017 marked the first time in history that Thailand has more senior citizens than children. At this rate, The Foundation for Older Persons’ Development predicts that by the year 2030 the aging population will reach 17.6 million or 26.3 percent of the total population and by 2040 it will reach 20.5 million or 32.1 percent of the total population. However, according to predictions from the Foundation for Research and Development for Thai Senior Citizens Thailand will enter the Aged Society as soon as the year 2021.