Thailand is officially an aged society this year, with the number of people 60 years old and above rising to 13.5 million, or about 20 per cent of the total population.
Thailand will become a super-aged society in the next 10 years when the 60-plus population will reach 28 per cent of total population or more than a quarter of it, according to projections by the National Economic and Social Development Council (NESDC).
The working population has decreased by 3 million every 10 years, going in the opposite direction of the estimated increase in demand for workers from 37.55 million in 2017 to 44 and 71 million in 2033, the NESDC, a state-owned think-tank, said.
A drag on economic growth
A rapidly aged society will have repercussions for economic development. It is one of the key factors held responsible for slowing economic growth over the past 20 years.
The average gross domestic…
