Anticipating a full-fledged elderly society this year, the ministry pointed out the significant purchasing power, financial influence and familial sway wielded by this age group.
Auramon Supthaweethum, director-general of the Commerce Ministry’s Department of Business Development, said that as of 2023, the elderly population in Thailand (aged 60 and above), constituted one-fifth of the total population or around 13 million individuals. With global trends reflecting an ageing population, the United Nations predicts that by 2050, 16% of the world’s population will be aged over 65.
This demographic shift presents a lucrative opportunity for Thai businesses to tailor products and services specifically for the elderly. Recognising fundamental needs such as food, housing, healthcare, financial stability and mental well-being, the department has identified the following key areas of…
