Problems for Thailand as people age

[StrontiumDog]

Problems for Thailand as people age


Problems for Thailand as people age

• Published: 22/06/2010 at 12:00 AM
• Newspaper section: News

Policy makers should start planning now to deal with the social and economic impact of Thailand's ageing population, economists say.


The state and private sectors must develop new facilities, products and services to suit the needs of the elderly, said Worawet Suwanrada, an economics lecturer from Chulalongkorn University, at a seminar yesterday organised by the Thailand Research Fund.


Thailand's elderly population is expected to increase from 11.8% of the total population this year to 17.2%, or about 17 million people, in the next 10 years.


The government also needs to pay attention to related policy issues such as improving education to ensure a quality workforce and extending the retirement age to prevent worker shortages, Mr Worawet said.


A study by Somprawin Manprasert of Chulalongkorn University's economics faculty projected that in the next 20 years, Thailand's ageing society would consume less food and drink, but spend more on transport, furniture, housing, as well as religious and social expenditure and recreation.


Mr Somprawin said these people would likely have higher income growth than the general population as they entered their elderly years, but that this would steadily decline.


The elderly, however, would have income from government allowances and pensions that businesses could target, the academic said.


From 2014, the Social Security Office will begin paying a pension to employees who have reached the minimum retirement age of 55.


The Social Security Office will give the pension to employees who have paid into the social security fund for 13 years.


Tanapong Potipiti, also an economics lecturer from Chulalongkorn University, said Thailand's ageing population will have a negative impact on GDP, which is expected to drop to minus 7% in two decades.


Increased foreign labour might not be able to help GDP numbers, he said.
"If we want to maintain the GDP per capita at the same rate as the pre-ageing society era, we might need to import 20 times more foreign labourers in 2030," Mr Tanapong said.


He said Thailand needed to take a multi-pronged approach to address the labour shortage resulting from the ageing population, including promoting skilled labour and developing professions in which the elderly would be able to work.

[StrontiumDog]

I'd like to formally state my availability, to help with addressing any population problems that need to be rectified.

Just call me on 0800- premmy. The fastest gun in the east

[Norton]

Thailand's ageing society would consume less food and drink

I don't get it?

[Mr R Sole]

The state and private sectors must develop new facilities, products and services to suit the needs of the elderly,

There's half a problem already....

The government also needs to pay attention to related policy issues such as improving education to ensure a quality workforce

^That's what he thinks of that....I concur...

extending the retirement age to prevent worker shortages,

Work till you drop dead????

A study by Somprawin Manprasert of Chulalongkorn University's economics faculty projected that in the next 20 years, Thailand's ageing society would consume less food and drink, but spend more on transport, furniture, housing, as well as religious and social expenditure and recreation.

Eh????? WTF...

The Social Security Office will give the pension to employees who have paid into the social security fund for 13 years.

Wow, you can get 20-25 bht a day...aren't you lucky..whic would be worth...fuc* all in years to come...!!!!!!

Increased foreign labour might not be able to help GDP numbers, he said. "If we want to maintain the GDP per capita at the same rate as the pre-ageing society era, we might need to import 20 times more foreign labourers in 2030,"

We may have to let farangs own shit in other words and come here to work?????

He said Thailand needed to take a multi-pronged approach to address the labour shortage resulting from the ageing population, including promoting skilled labour and developing professions in which the elderly would be able to work.

Trolley collectors...just like on Shaun of the Dead....

[BobR]

Thailand's problems seem small in comparison to other aging countries such as Japan because the pensions here are either non-existent or very small. I felt like a complete ass after I congratulated the Principal at my school on her retirement, and later learned that her pension for 38 years of service is 900 baht a month and they are forced to leave at 60 to make room for younger people.