Senior citizens enjoy horse racing at the Royal Turf Club in Bangkok. Thailand is already an aged society, with people aged 60 or above set to account for 20% of the population this year. Patipat Janthong
The Finance Ministry is growing concerned about slow economic growth prospects and higher inflationary pressure in the long term as Thailand transitions to an “aged” society.
A ministry source who requested anonymity said the country’s demographics are rapidly ageing, resulting from falling fertility rates and rising life expectancy. Having a larger proportion of the population made up of the elderly means fewer people in the workforce.
The country has been what is termed an “aged” society since 2005, meaning 10% of the population is already 60 or older.
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