A survey by the University of the Thai Chamber of Commerce says the average debt of each worker’s household in Thailand is 217,000 baht this year. This is a 14 year high for Thailand. At the end of 2021, the country’s overall household debt was 14.6 trillion baht, one of the highest in Asia, per capita.
Most service sector workers were worried about losing jobs, according to the survey. The university’s president Thanavath Phonvichai said that if costs continue to rise, consumer spending will “disappear” and it will be “very difficult for the economy to recover”.
This news comes amidst rising prices on several items in Thailand. The price of diesel is set to rise from 30 to 32 baht per litre on Sunday (with a revised price cap by the government). Bangkok truckers have rallied this week to demand that the price cap continues as long as possible.
This week, rates on…
