The Thailand Economic Monitor series provides an analytical perspective on key policy challenges facing the country, including Thailand’s aging society. The working-age population of Thailand is expected to shrink by around 11 percent as a share of the total population between now and 2040, from just under 49 million to around 40.5 million people. This projected decline is higher in Thailand than any developing country in East Asia. Enhancing labor productivity therefore will be key.
Moreover, compared with aging high-income countries, Thailand is aging at a much lower income level, which highlights the importance of policy reforms in many areas, including pensions, health care and long-term care.
“While aging poses real challenges for Thailand, it is also an opportunity to implement key reforms that will promote healthy and productive aging for more Thais,” said Ulrich Zachau, World Bank Country Director for Southeast Asia. “Preparing for an aging population will make it especially important for Thailand to improve the quality of education and upgrade skills of the shrinking labor force, increase women’s participation in the job market, and ensure affordable and sustainable care for older people.”