Economy Thailand’s Wealth Gap Widens: Most Bank Accounts Below 50,000 Baht

[KireB]

8 hours ago, ozz1 said:

Yet they all drive around in new cars something's got to give 

Most Thais don't have a car.ai spits out these numbers:

275 per 1000 inhabitans, more than Vietnam and Indonesia, but far less than 1st world countries.

 

 

[khunPer]

To me, it seems like Thais are mainly talking about having their savings in gold – numerous Thais still don't trust banks – they often mentions several baht of gold...

[Hugh Jarse]

8 hours ago, Equatorial said:

 

Borrowed money. Money they don't have, and in many cases, won't be able to keep up with payments. 

 

That's the Thai way. 

Sounds comparable to the US,were most folks are in debt and live from paycheck to paycheck each month.

[ThaiBob]

Many Thais I know prefer gold over savings accounts, Thai bank savings rates are very low.

[wensiensheng]

10 hours ago, ozz1 said:

Yet they all drive around in new cars something's got to give 

Mostly bought on finance though and many get repossessed when payments aren’t maintained 

[Cameroni]

How nice would it be if you were a billionaire and you'd go to every person in Thailand and help them out, give them 10 million baht each. How happy they would be.

 

I don't understand why most of these billionaires don't do that.

 

It would only take 21,800,000 USD to give every Thai 10 million baht. Such a small price to make people happy.

[Grusa]

It has always been my ambition to die with my cards maxxed out, my overdrafts at their limits, and all other debts unpaid.

 

The problem is predicting the exact moment of death. A few days late, and everything caves in.

 

I know an American guy who planned his future on this basis, that he would die at 70. He is now 80+, senile with dementia, and living by grace of his Thai wifes' family in some s...hole in deepest Isaan with zero cash or assets, and completely cut off from his ex-friends.

 

Worst, no intellect left to work out a means of ending it all.............., or even the concept to do so.

[NoDisplayName]

13 hours ago, webfact said:

new figures from the Bank of Thailand reveal that 89% of bank deposit accounts in the kingdom hold less than 50,000 baht

 

Why would they keep their millions of baht in bank accounts paying 0.25% interest?

 

They've likely invested all their money in designer watches and down-payments on propulsion-free submarines.

 

For those incapable of making these strategic decisions, the government has assumed the responsibility in their best interest.