Thailand is becoming a super old society – challenges and opportunities!

Thailand is becoming a super old society – challenges and opportunities!

Thailand has now achieved “full aging society” status, a significant sign of national demographic changes. According to estimates, by 2024 the number of people over 60 will already reach 14 million people, accounting for 20% of the total population. That number could rise to 30% by 2040, signals [thaihealth.or.th](https://www.thaihealth.or.th/%E0%B9%84%E0%B8%97%E0%B8%A2%E0%B9%80%E0%B8%82%E0%B9%89%E0%B8%B2%E0%B8%AA %E0%B8%B9%E0%B9%88-%E0%B8%AA%E0%B8%B1%E0%B8%87%E0%B8%84%E0%B 8%A1%E0%B8%AA%E0%B8%B9%E0%B8%87%E0%B8%AD%E0%B8%B2%E0%B8%A2/). In addition to demographic change, this also brings with it other challenges, such as high rates of non-communicable diseases (NCDs) among older people, which pose clear risks to physical and mental health.

Around 90% of older residents live in unsuitable housing conditions that promote falls and other health problems. In some provinces there are more than 10,000 elderly people per internist, placing a heavy burden on medical care. The Health Promotion Foundation report shows that many of these seniors have inadequate income and often live alone or in relationships without adequate support. Government agencies are required to develop a systematic approach to improving quality of life and health care.

The economic challenges and opportunities

Demographic changes also bring significant economic challenges. A declining birth rate and an increase in the elderly population are leading to a labor shortage, threatening productivity in various industries. In this context, Thailand will reach a "super aging society" within this decade, which could negatively impact agricultural growth if measures are not taken to increase productivity, as reported by prd.go.th.

But with challenges also come opportunities. The so-called “silver economy” is emerging in which older people can be marketed not only as those in need of help, but as creators of value. By 2033, the elderly population is expected to generate economic output of 3.5 trillion baht. This includes increasing interest in healthcare services, customizable housing and specially tailored products.

Development potential in the silver economy

Four key areas offer outstanding development potential in the silver economy:

• Wohnen: Gestaltung sicherer Wohnräume für Senioren und die Schaffung von Gemeinschaftsgruppen.
• Essen: Entwicklung gesunder Lebensmittel, die speziell auf die Bedürfnisse älterer Menschen zugeschnitten sind.
• Gesundheit: Angebote an Altenpflege, medizinische Produkte und innovative Gesundheitslösungen.
• Freizeit: Schaffung von Plattformen für Wissensaustausch, Gruppenaktivitäten und Transportdienste.

The potential for economic development is great. Older people are not only becoming a significant part of the country's consumer power, but also the most important target group for many business models, as the Thai Times shows. However, it remains important to improve the political framework and implement programs to promote health, quality of life and employment in old age.

In view of this change, a change in mentality is necessary: ​​instead of a phenomenon in which older people are perceived as a burden, their active participation and role in society should be encouraged. In this way, they can not only make a contribution to the economy, but also sustainably improve their quality of life.